PNB MUDRA Loan

The Punjab National Bank (PNB) MUDRA loan scheme is an initiative under the Pradhan Mantri MUDRA Yojana (PMMY). It is designed to empower micro and small businesses in India. Entrepreneurs, self-employed individuals, and small business owners in the non-agricultural sector can get this loan to start, expand, or modernise their businesses. The loan is ideal for sectors like manufacturing, trading, and services.

PNB offers MUDRA loans in 3 categories:

• Shishu: Loans of up to ₹50,000 for budding entrepreneurs

• Kishor: Loans ranging from ₹50,001 to ₹5 Lakhs for established businesses needing further development

• Tarun: Loans between ₹5 Lakhs and ₹10 Lakhs for businesses aiming for growth or expansion

These loans do not require any collateral and have flexible repayment options, making them a preferred choice for small enterprises seeking financial assistance.

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

• The PNB MUDRA loan will be sanctioned instantly, provided that applicant furnishes all necessary documents

• The application process is simple, hassle free, and can be completed entirely online, from anywhere 

• The maximum eligible loan amount under the PNB Shishu scheme is ₹50,000

• The maximum eligible loan amount under the PNB Kishor scheme is ₹5 Lakhs

• The maximum eligible loan amount under the PNB Tarun scheme is ₹10 Lakhs

The eligibility criteria for PNB MUDRA loans vary based on the type of loan under the Pradhan Mantri MUDRA Yojana (PMMY). Below are the key requirements for each loan category:

1. Shishu Scheme (Loan up to ₹50,000)

• Age: Applicants must be between 18 and 60 years

• Business Stage: Suitable for new businesses or start-ups

• Udyam Registration: Required for MSME verification

• Existing Account Holder: Must have an account with PNB, active for at least 6 months

2. Kishor Scheme (Loan between ₹50,001 and ₹5 Lakhs)

• Age: Applicants must be between 18 and 60 years

• Business Stage: For businesses that are already operational and need further development

• Udyam Registration: Required for MSME status verification

• Existing Account Holder: Must have an active PNB account for at least 6 months

3. Tarun Scheme (Loan between ₹5 Lakhs and ₹10 Lakhs)

• Age: Applicants must be between 18 and 60 years

• Business Stage: For established businesses looking to expand

• Udyam Registration: Required for MSME verification

• Existing Account Holder: Must have an account with PNB for at least 6 months

Here's a breakdown of the three types:

1. Shishu Scheme

It provides small loans to help establish or grow a new enterprise.

• Loan Amount: Up to ₹50,000

• Suitable for: Start-ups and small businesses in the initial phase

• Interest Rate: Typically around 9.40% (may vary based on PNB's lending policies)

2. Kishor Scheme

This scheme is for businesses that are already established.

• Loan Amount: ₹50,001 to ₹5 Lakhs

• Suitable for: Growing small businesses that need funds for working capital, purchasing inventory, or upgrading equipment

• Interest Rate: Generally around 10.65% (subject to change by PNB)

3. Tarun Scheme

The Tarun scheme is intended for businesses that are in an advanced stage and require larger amounts of capital to scale up their operations.

• Loan Amount: ₹5 Lakhs to ₹10 Lakhs

• Suitable for: Businesses that need significant financial support for expansion or upgrading infrastructure

• Interest Rate: Typically around 10.65% or higher (based on the bank’s policies)

Here are the details:

• Term Loan:
  Repayable over a period of up to 3 years or more, depending on the loan amount and business cash flow.
  Interest rates range from Base Rate (currently 9.60%) to Base Rate + 2.25% + TP (0.50%), subject to RBI/government guidelines.

• Working Capital:
  Typically sanctioned for short-term needs, with tenure and renewal subject to business performance and bank review.

• Moratorium Period:
  May be considered based on the borrower's financial assessment and business viability, though specific duration is not explicitly stated.

Security & Collateral:

• No collateral required for Mudra loans.

• Assets created from the loan may be hypothecated to the bank.

These terms are designed to suit the financial capacity and operational needs of micro enterprises, ensuring ease of access and flexibility in repayment.

To apply for the PNB eMUDRA Loans, applicants need to follow these steps: 

1. Navigate to the PNB eMUDRA portal.

2. Select your preferred login options from ‘Customer ID’, ‘Account Number’ or ‘Mobile Number’ and enter the corresponding details in the input field below.

3. Click on the ‘Proceed’ button and follow the steps that occur further.

4. Complete the final e-Sign through OTP authentication.

5. The application request will be processed and disbursed within the stipulated time period.

Disclaimer: Applicants may apply for the PNB MUDRA Shishu category online and get loan amount sanctioned almost immediately. Whereas, for loans under the Kishor and Tarun categories, applicants might have to visit the nearest PNB branch and get in touch with a representative.

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

Toll free number(s)

• Banking: 1800 1800, 1800 2021

• Balance Enquiry: 1800 180 2223 (Toll Free)

• Credit Card: 1800 180 2345 (Toll Free)

• Loan Products: 1800 180 8888 (For Loan Products)

• Retail Products: 1800-180-5555 (For Retail products), 1800-330-3333 (For Digital products)

Email: care@pnb.co.in

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