Applicants can apply for Mudra loans both online and offline at their convenience. MUDRA, Micro Units Development & Refinance Agency, provides loans of up to ₹10 lakh to micro, small, and medium firms. The loan is valid for a maximum of five years and does not require the submission of any collateral. Public and private sector banks, NBFCs, co-operative banks, small financing banks, regional rural banks, and microfinance institutions all accept loan applications that include real and proper documentation.

How Do I Apply for a MUDRA Loan Online?

Applicants can apply for a Mudra loan online by going to the bank’s official website. It saves time and ensures a smooth process. Here are the basic ways to apply for Mudra loan registration online:

1. Identify the proper bank.
2. Browse the bank’s main website.
3. Download the online application form.
4. Fill out the various sections and fields with the relevant information.
5. Complete the application and the required documents.
6. Submit Project Report/Business Plan.
7. Wait for a bank representative to contact you regarding additional processing.
8. Once the loan application form and related documentation have been processed and validated, the loan will be approved and disbursed by the bank.

How to Apply for a MUDRA Loan Offline?

If applicants want to file the Mudra loan application form offline, follow the instructions below :

1. Applicants should research the specific bank that offers Mudra loans. Before submitting an application, check the interest rates and other fees.
2. Completed the application form.
3. Submit a project report/business plan.
4. Along with the application form, include passport-sized pictures, identity evidence, residence proof, company address and identity proof, caste certificate (if applicable), financial records, IT returns, sales tax returns, and other equipment details.
5. Complete all of the bank’s formalities and procedures.
6. The loan will be granted once all of the paperwork are validated.
7. After the loan is accepted, the requested amount will be credited to the designated bank account within a few working days.