Eligibility Criteria for MUDRA Loans & Banks that offer Mudra Loans
India's Government has invented Mudra Loans under the Pradhan Mantri Mudra Yojana (PMMY) scheme to assist small business owners to satisfy their capital requirements and operating costs through easy finance schemes. Those who have small business enterprises are eligible to avail Mudra Loans.
Following people are eligible to apply for the Mudra Loans:
- Candidates with a minimum age of 18 years and maximum 65 years
- The borrower should have good financial and repayment history
- Individuals, Small business owners, Startups, micro-units, MSMEs
- Those who are Manufacturers, Traders, Artisans, Startups, Retailers, etc. are eligible, too
- Borrowers who have no loan defaults or irregular repayment history
- Should be Indian Citizens having no criminal background
Banks that offer Mudra loans are:
Private Sector Banks
- Axis Bank Ltd.
- Catholic Syrian Bank Ltd.
- City Union Bank Ltd.
- DCB Bank Ltd.
- Federal Bank Ltd.
- HDFC Bank Ltd.
Public Sector Banks
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Corporation Bank
- Central Bank of India
- State Bank of India
- Bank of Baroda
Regional Rural Banks
- Deccan Grameena Bank
- Saptagiri Grameena Bank
- Bihar Gramin Bank
- Andhra Pragathi Grameena Bank
- Chaitanya Godavari Grameena Bank
- Madhya Bihar Gramin Bank
Co-operative Banks
- Gujarat State Co-op Bank Ltd
- Mehsana Urban Co-op Bank
- Kalupur Commercial Co-op Bank
- Rajkot Nagarik Sahakari Bank
MFI List offering mudra loan
- S V Creditline Pvt. Ltd.
- Margdarshak Financial Services Ltd.
- Madura Micro Finance Ltd.
- ESAF Micro Finance & Investments P. Ltd.
- Fusion MicroFinance P. Ltd.
- Ujjivan Financial Services P. Ltd.
List of NBFC
- SREI Equipment Finance Ltd.
- Magma Fincorp Ltd.
- Reliance Capital Ltd.
- Fullerton India Credit Co. Ltd.
- Shriram Transport Finance Co. Ltd.
