Please Note: PNB is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Punjab National Bank (PNB) offers Mudra Loans under PMMY at an interest rate starting from 9.15 % p.a. to Micro Small Medium Enterprises (MSMEs) individuals, self-employed professionals and non-farm-based enterprises that are engaged in the manufacturing, trading, or service sectors. The maximum loan amount is offered up to Rs. 10 lakh with repayment tenure of up to 7 years.
Click here to download the Application form for Mudra Loan offered by Union Bank of India
PNB Mudra Loan – Highlights – 2023 |
|
Interest Rate | 9.15% p.a. onwards |
Loan Amount | Min. has no limit and Max. is up to Rs. 10.00 lakh |
Repayment Tenure | Up to 7 years |
Collateral / Security | Not required |

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Also Know – What is the interest rate for Mudra loan in SBI?
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs – 2023
Bank/NBFCs | Interest Rate | |
Axis Bank | 14.95% - 19.20% p.a. | Apply Now |
Bajaj Finserv | 9.75% - 30% p.a. | Apply Now |
Flexiloans | 1% per month onwards | Apply Now |
HDB Financial Services Ltd. | Up to 36% p.a. | Apply Now |
HDFC Bank | 10% - 22.50% p.a. | Apply Now |
IDFC First Bank | 10.50% p.a. onwards | Apply Now |
Indifi | 1.50% per month onwards | Apply Now |
Kotak Mahindra Bank | 16% - 26% p.a. | Apply Now |
Lendingkart | 12% - 27% p.a. | Apply Now |
Mcapital | 2% per month onwards | Apply Now |
NeoGrowth Finance | 19% - 24% p.a. | Apply Now |
Tata Capital | 12% p.a. onwards | Apply Now |
UGRO Capital | 9% - 36% p.a. | Apply Now |
PNB Mudra Loan – Eligibility Criteria & Eligible Entities
- Individuals, MSMEs, Business owners, Entrepreneurs, Private Limited Companies, Sole Proprietorships, Partnership Firms, and Limited Liability Partnerships (LLPs) are eligible for PNB Mudra Loan
- Businesses for which the loan is needed must be in income-generating sectors in the service, manufacturing, or trading sectors
- Businesses in agriculture allied activities, such as fish farming, agri-clinics, and so on are also eligible for PNB Mudra Loan
- Applicant should not have defaulted on payments or loan with any financial institution
PNB e-Mudra (Shishu) Scheme – 2023
PNB e-Mudra (Shishu) Scheme – Highlights |
|
Nature of Loan | Working Capital Term Loan (WCTL) / Term Loan facility to Non-Farm Enterprises engaged in Manufacturing, Trading and Services activities |
Interest Rate | 8.80% p.a. onwards |
Loan Amount | Up to Rs. 50,000 |
Repayment Tenure | Up to 7 years including maximum moratorium period of 3 months |
Security | · Primary- Hypothecation of assets created out of Bank’s Finance
· Collateral- Guarantee Coverage under CGFMU shall be obtained |
Margin | Nil |
Balance Sheet | Not applicable |
Eligibility Criteria
- Age: Minimum 18 years and maximum up to 60 years
- Individual Customer having an active SB/CA with us since past 6 months
- Udyam Registration number is mandatory and shall be verified during online customer journey
Also Know – How the EMI is calculated in a business loan from bank?

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PNB Mudra Loan – Categories
There are 3 financing options available under PNB Mudra Loan. The division is based on the growth level of the enterprise and the amount of loan required by the business. The maximum loan amount associated with the categories is:
Mudra Loan Scheme | Amount |
Shishu | Up to Rs. 50,000 |
Kishore | Between Rs. 50,000 & Rs. 5.00 lakh |
Tarun | Between Rs. 5.00 lakh & Rs. 10.00 lakh |
- Shishu: In this scheme, the applicant is provided with a maximum amount of Rs. 50,000. It is best suited for budding entrepreneurs or startups enterprises
- Kishore: Through this scheme, the applicant can get financial aid from Rs. 50,000 to Rs. 5 lakh. The bank will evaluate the credit history of the applicant and based on that will decide the rate of interest and repayment period. It is allocated to those business owners who have already started a new enterprise and seek further assistance for expansion
- Tarun: Through this scheme, the applicant may get up to Rs. 10 lakh. The bank will evaluate the credit history of the applicant and on that basis will set the rate of interest and repayment period

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Documents Required
The following documents are required in order to successfully apply for Punjab National Bank Mudra Loan:
Basic Documents required across Mudra schemes are:
Identity Proof | Passport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence, Photo Credit Card, Central and State Govt. issued Photo ID Proof, Defence ID Card, etc. |
Residence / Business Proof | Aadhaar Card, Ration Card, Passport, Bank Account Statement, Voter’s ID Card, Letter from any recognized public authority, Telephone Bill, Electricity Bill, Water Bill (not more than 3 months old), etc. |
- Applicant’s recent passport-sized photographs
- Proof of the minority, if applicable
- Last 6 months’ bank statement
- Any other document required by PNB
Customer Care Number
Toll-Free No. | 1800-180-2222 |
Toll-Free No. | 1800-103-2222 |
Tolled No. | 0120-2490000 |
Landline No. | 011-28044907 |

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FAQs
Q. Who can apply for a PNB Mudra Loan?
Applicants for PNB Mudra Loan must be Indian citizens engaged in the trading, manufacturing, or service sector. The business must be categorized as Micro, Small, and Medium Enterprises (MSMEs). Moreover, enterprises in non-agricultural sectors, such as fish farming or beekeeping can also avail Mudra loan.
Q. What is the rate of interest offered by PNB Mudra Loan?
Ans. PNB Mudra Loan is offered to MSME at an interest rate of 8.55% p.a. onwards.
Q. What is the maximum loan amount that the PNB Mudra loan will disburse?
The maximum loan amount that applicants may get through PNB Mudra Loan is Rs. 10 lakh, whereas the minimum loan amount has no limit.
Q. How can I get PSB Loans in 59 Minutes from PNB?
Ans. To avail PSB loans, you need to visit the official website of PSB Loans that is psbloansin59minutes.com and select the desired bank (PNB), and apply for a loan online.
Q. How can I get a Mudra loan application form?
Ans. You can download the Mudra loan application form online by visiting the official website or click here.
Q. What is the process and requirement of taking a Mudra loan from a bank?
Ans. To apply for Mudra loan applicants need to download the form online and visit the nearest bank branch to proceed with bank formalities.
Q. How do I complain if the bank manager is denying a mudra loan?
Ans. There may be chances that if the bank manager is denying the loan, you may not have cleared the eligibility criteria. If the manager denies then you can write an email to the RBI stating your concern.
Q. What should I do if a bank manager rejected my Mudra loan application?
Ans. You can reapply for the same loan from some other Bank or NBFC.
Q. How long is the processing time for Loans under the MUDRA Scheme?
Ans. The processing time of the Mudra loan is approximately 10-15 working days. However, it depends on the lender and varies from applicant to applicant.
Q. What are non-farm-based agriculture activities and how does it relate to PNB Mudra Loan?
Ans. PNB Mudra Loans are not granted to meet the requirements of farm-based agricultural needs. However, agriculture-allied activities are covered under PNB Mudra Loan. These activities include but are not limited to:
- Fish farming
- Beekeeping
- Poultry
- Livestock rearing, grading, sorting, and aggregation
- Agro-industries
- Dairy
- Fishery
- Agri-clinics
- Agribusiness centers
- Food & Agro-Processing, and so on
Q. Is there any subsidy provided under the PMMY scheme under the Mudra loan?
Ans. No, there is no subsidy for the loan offered by PMMY under the Mudra loan.