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PNB offers a number of business loans that have been an integral part of India’s growth. One such loan scheme offered by PNB is the PNB Mudra scheme. The PNB Mudra scheme is a business loan offered by small and medium enterprises (SMEs) under the Pradhan Mantri Mudra Yojana (PMMY).

PNB Mudra Loan Highlights

Here are the key highlights of the PNB Mudra loan. 

Parameters

Particulars

Nature of Facility 

  • Working Capital Term Loan (WCTL) 

  • Term Loan Facility

Quantum of Exposure 

Up to ₹10 Lakhs

Security

  • Primary Security - Hypothecation of assets created out of bank’s funding.

  • Collateral- Guarantee coverage under CGFMU will be obtained

Purpose

Non-farm enterprises engaged in trading, manufacturing and

services activities

Margin 

Nil

Repayment Period

Up to 7 years (including a maximum moratorium period of 3 months)

Rate of Interest

RLLR (Repo Linked Lending Rate)+BSP +0.15%

Punjab National Bank Mudra Loan Features

Here are some of the key features of the Punjab National Bank Mudra loan scheme. 

  • You can apply for the PNB Mudra loan from anywhere in the world.

  • The PNB Mudra loan will be sanctioned instantly, provided that you furnish all necessary documents. 

  • The application process can be done entirely online. The application process is also really simple and hassle free. 

  • It is required that all applicants of the PNB Mudra scheme should be an existing CA/SB account holder of PNB. The account(s) should be at least six months old at the time of loan application. 

  • The maximum eligible loan amount under the PNB e-Mudra (SHISHU scheme) is ₹50,000. 

  • You can avail an instant loan of up to ₹50,000 based on your eligibility.

PNB Mudra Loan Interest Rates

Loan Categories

Interest Rates 

SHISHU 

RLLR (Repo Linked Lending Rate)+BSP +0.15%

PNB Mudra Loan Eligibility Criteria

Here’s the eligibility criteria for the PNB Mudra scheme: 

  • It is required that all applicants of the PNB Mudra scheme should be an existing account holder of PNB. The account(s) should be at least six months old at the time of loan application

  • Applicants should be between the ages of 18 and 60 years

  • All applicants must have an Udyam Registration number

Documents Required for PNB Mudra Loan

Here are the documents that you would require when you’re applying for the PNB Mudra loan, under the SHISHU category:

  • Proof of identity - Voter’s ID card, Driving License, PAN card, Passport, Aadhaar card and other government issued identification documents.

  • Proof of Residence - recent utility bills including telephone bill and electricity bill;  Voter’s ID card, Passport, property tax receipt, Aadhaar card, etc.

  • Recent photograph of the applicant (2 copies). Submitted photographs should not be older than six months.

  • Community proof, if applicable.

  • Proof of Identity and/or address of the business enterprise, if available.

  • Statement of Account from the existing banker for the last six months, if applicable.

  • Quotation of machinery or other assets and items that are to be purchased.

 

Here are the documents that you would require when you’re applying for the PNB Mudra loan, under the KISHORE & TARUN categories:

  • Proof of identity - Voter’s ID card, Driving License, PAN card, Passport, Aadhaar card and other government issued identification documents.

  • Proof of Residence - recent utility bills including telephone bill and electricity bill;  Voter’s ID card, Passport, property tax receipt, Aadhaar card, etc.

  • Community proof, if applicable.

  • Proof of Identity and/or address of the business enterprise, including copies of relevant registration documents, certificates, agreements and licences. 

  • Any other documents related to ownership and identity of address of business venture(s).

  • Udyog Aadhaar Memorandum

  • Statement of Account from the current banker for the past six months.

  • Unaudited balance sheets of the existing business units for the past two years.

  • Income tax and/or sales tax returns (only applicable for loans of ₹2 Lakhs and above).

  • Projected balance sheets of start-ups/existing units for one year, in case of working capital limits and for the tenure of the loan in case of term loans only applicable for loans of ₹2 Lakhs and above).

  • Sales made up to the date of submission of application for the current financial year (for existing units).

  • Proforma Invoices and/or quotations for the assets to be purchased

  • estimates for the civil works, if any are to be undertaken.

  • Asset & Liability statement of the borrower including that of Directors & Partners.

  • Memorandum and Articles of Association of the company, Partnership Deed of Partners and/or other relevant documents, if applicable. 

  • Recent photograph of the applicant (2 copies). Submitted photographs should not be older than six months.

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Steps on How to Apply for PNB Mudra Loan

You may apply for the PNB e-Mudra Loan following these steps: 

  • Visit the PNB e-Mudra portal 

  • Fill the PNB e-Mudra application form provided on the portal 

  • Provide your Aadhaar number for e-KYC through UIDAI

  • Complete the e-Sign through OTP authentication

  • Your request will be processed and disbursed within the stipulated time period

 

You may apply for the PNB Mudra SHISHU category online and get your loan amount sanctioned almost immediately. Whereas, for loans under the Kishor and Tarun categories, you might have to visit your nearest PNB branch and get in touch with a representative. 

PNB Customer Care

Here are some ways to contact PNB customer service in case of any queries. 

  • Toll free number(s):

    1. 1800 180 2222

    2. 1800 103 2222

  • Email

    1. care@pnb.co.in

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for PNB Mudra Loan

Who can apply for a PNB Mudra Loan?

Entrepreneurs looking to start a business or expand their existing business can apply for the PNB Mudra Loan.

What is the maximum loan amount that the PNB Mudra loan will disburse?

Under the Tarun category, eligible business owners can get a loan of up to ₹10,00,000.

What is the process and documents required for taking a Mudra loan from a bank?

You can apply online on the PNB e-Mudra portal or visit your nearest PNB branch to enquire about the Mudra loan schemes. You would furnish relevant documents such as identity proof, address proof and other business related proof, licences and agreements to get started with your application process. 

 

How long is the processing time for Loans under the MUDRA Scheme?

The processing time depends on your credit history, loan amount, validity and authenticity of the furnished documents. But, generally, PNB Mudra loans are processed within 7 to 10 days, with loans under SHISHU category being processed almost instantly in most cases.

What are non-farm-based agricultural activities and how does it relate to PNB Mudra Loan?

The PNB Mudra loan is offered to enterprises engaging in non-farm agricultural activities like bee keeping, pisciculture, grading, livestock, poultry, dairy, fishing and other similar activities.

What are the fees of PNB MUDRA loan?

If you’re making a borrowing under the SHISHU category, the processing fees will be nil whereas when you’re making a borrowing under the KISHOR or TARUN schemes, the processing charges will be 0.5% of the total loan amount, exclusive of applicable charges.

Is income proof required for PNB MUDRA loan?

No, income proof is not required for the PNB Mudra loan. However, depending on the loan category you choose, other income-related documents may be required.

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