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What is PM MUDRA Yojana?
PM MUDRA Yojana was launched in 2015 to provide loans to the non-corporate, non-farm small/micro enterprises. Commercial banks, RRBs, small finance banks, MFIs and NBFCs are authorised to provide these loans to eligible applicants. The scheme is categorised under four products, namely:
| Loan Type | Eligible Loan Amount |
| Shishu | Loan up to Rs. 50,000 |
| Kishore | Loan from Rs. 50,001 to Rs. 5 lakh |
| Tarun | Loan above Rs. 5 lakh to Rs. 10 lakh |
| Tarun Plus (For entrepreneurs who have successfully repaid previous loans under the ‘Tarun’ category) | Loan above Rs. 10 lakh to Rs. 20 lakh |
The loan is given in tranches, with the highest loan amount going up to Rs. 20 lakh, subject to the successful repayment of previous loans under the scheme.
Features of SBI MUDRA Loan
- Target Group: Borrowers, micro business enterprises in manufacturing, trading and services sector, including allied agricultural activities.
- Eligibility: Business enterprises in manufacturing, trading and services sectors, including allied agricultural activities
- Margin
- Up to Rs. 50,000 – Nil;
- Above Rs. 50,001 to Rs. 20 lakh- 20%
- ROI: 3.25% above EBLR (effective rate is 12.15% with effect from 15.02.2025)
- Repayment Period For TL
- Up to Rs. 5 lakh – 5 years
- Rs. 5 lakh to Rs. 10 lakh – 7 years
- Repayment
- TL/Dropline OD – below Rs. 5 lakh: Max. 5 years, including a maximum moratorium period of up to 6 months.
- TL/Dropline OD – from Rs. 5 lakh to Rs. 20 lakh: Max. 7 years, including a maximum moratorium period of up to 12 months.
- CC: On demand
- Primary Security
- TL – Hypothecation of plant and machinery / other assets or mortgage of land/property, created out of bank finance.
- CC/OD – Hypothecation of all stocks and receivables
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- Collateral: No collateral security to be obtained for all loans up to Rs. 10 lakh
- Subsidy: NIL
- Credit Guarantee: All MUDRA loans are covered under the guarantee cover of the Credit Guarantee Fund for Micro Units (CGFMU). – Premium amount to be recovered from the borrower
- Implementing Ministry: Department of Financial Services (DFS), Ministry of Finance
Fees & Charges for SBI PM MUDRA Yojana
| Loan Amount Range | Processing Fee |
| Shishu | Nil |
| Kishore | Rs. 1,000 |
| Tarun | Rs. 2,000 |
| Tarun Plus | 0.40% of the loan amount |
MUDRA Loan Margin
| Loan Amount | Margin |
| Up to Rs. 50,000 | NIL |
| Above Rs. 50,000 to Rs. 10 lakh | 20% |
SBI MUDRA Loan Eligibility
- Eligible entities include individuals, proprietary concerns, partnership firms, private limited companies, public limited companies, and other legal entities.
- The applicant must have a good credit history and should not be a defaulter with any bank or financial institution.
- Individual applicants may be required to demonstrate relevant skills, experience, or knowledge related to the proposed activity.
- Educational qualifications, if applicable, will be evaluated based on the nature and requirements of the proposed activity.
Documents Required for SBI MUDRA Loan
For Shishu Loan
| Document Type | Details / Accepted Proofs |
| Proof of Identity | Self-attested copy of Voter’s ID Card / Driving Licence / PAN Card / Aadhaar Card / Passport / Photo IDs issued by Govt. authority, etc. |
| Proof of Residence | Recent (not older than 2 months) Telephone Bill, Electricity Bill, Property Tax Receipt, Voter ID, Aadhaar Card, Passport, Bank Passbook or latest Account Statement attested by bank officials, Domicile Certificate, or Certificate issued by Government Authority / Local Panchayat / Municipality. |
| Photograph | Two recent coloured passport-size photographs (not older than 6 months). |
| Quotation / Invoice | Quotation for machinery or other items to be purchased, including supplier name, machinery details, and price. |
| Business Proof | Proof of Identity and Address of the Business Enterprise — copies of relevant Licences, Registration Certificates, or other documents establishing ownership and address of the business unit. |
For Kishore, Tarun and Tarun Plus Loan
- Proof of Identity – Self-attested copy of Voter’s ID card / Driving License / PAN Card / Aadhar Card/Passport.
- Proof of Residence – Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
- Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
- Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of the business unit.
- Applicants should not be defaulters in any Bank/Financial institution.
- Statement of accounts (for the last six months), from the existing banker, if any.
- Last two years’ balance sheets of the units along with income tax/sales tax return, etc. (Applicable for all cases from Rs. 2 lakh and above).
- Projected balance sheets for one year in case of working capital limits and for the period of the loan in case of term loan (Applicable for all cases from Rs. 2 lakh and above).
- Sales achieved during the current financial year up to the date of submission of the application.
- Project report (for the proposed project) containing details of technical & economic viability.
- Memorandum and Articles of Association of the company/Partnership Deed of Partners, etc.
- In absence of a third-party guarantee, Asset & Liability statements from the borrower, including Directors & Partners, may be sought to know the net-worth.
SBI e-Mudra Loan: Loan Amount & Repayment Tenure
SBI e-Mudra Loan offers loan amounts of up to Rs. 1 lakh for repayment tenures of up to 5 years. Further, borrowers can get an instant loan of up to Rs. 50,000 under this scheme, depending on the bank’s eligibility norms. For loans above Rs. 50,000, applicants must visit an SBI branch for the required formalities.
Features of SBI e-Mudra
- Offered to micro entrepreneurs having existing SBI savings or a current account for a minimum of 6 months.
- Max. eligible loan amount- Rs. 1 lakh
- Max. loan period- 5 years
- Instant availability of a loan up to Rs. 50,000 based on the Bank’s eligibility norms.
- For loans above Rs. 50,000, customers must visit the branch to complete formalities.
Documents Required to Apply for SBI e-Mudra Loan
- Savings/current account number and branch details
- Proof of Business (Name, start date & address)
- UIDAI – Aadhaar number (should be updated in A/c number)
- Community details (General/SC/ST/ OBC/ Minority)
- Other information for uploading, like:
- GSTN & UDYOG Aadhar
- Proof of shop or establishment, or any other business registration document (if available).
How to Apply for SBI e-Mudra Loan Online?
- Enter or select details from the drop-down menu and complete the application form.
- Provide your Aadhaar number for e-KYC verification through UIDAI.
- For loan amounts between Rs. 50,000 and Rs. 1 lakh, the applicant must visit the SBI branch where the savings or current account is maintained to complete document signing formalities.
- On completion, an SMS notification will be sent to your registered mobile number, prompting you to initiate the next steps — account opening and disbursement — by revisiting the e-Mudra portal.
Things to Keep in Mind When Applying for SBI e-Mudra Loan
- Ensure that your current mobile number is linked to your Aadhaar, as OTP authentication is required for completing e-KYC and e-Sign during loan processing and disbursement.
- The documents to be uploaded should be in PDF/ JPEG / PNG format, maximum size 2MB.
- The entire process must be completed within 30 days of receiving the loan sanction SMS.
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SBI MUDRA Loan FAQs
What is the interest rate of the SBI MUDRA loan of Rs. 50,000?
The interest rate is linked to the bank’s External Benchmark Lending Rate (EBLR); for example, SBI charges 3.25% above EBLR.
Do we need a CIBIL score for a MUDRA loan?
No, a CIBIL score is not mandatory for applying under MUDRA; many lenders accept applications even if you don’t have a credit history. However, having a good credit history/CIBIL score can improve your chances of approval and better terms.
Why was my MUDRA loan rejected?
Common reasons include incomplete or mismatched documentation, non-registered/unstable business operations, lack of proof of business activity, or weak credit history. Also applying for a loan amount too high relative to the business profile or using mismatched KYC details can trigger rejection.
Can I get a MUDRA loan without income proof?
Yes, for the “Shishu” category (loans up to ₹50,000) lenders may waive strict income proof requirements. For larger amounts (Kishore or Tarun categories) banks generally expect business proof, bank statements or ITRs to assess repayment capacity.
How many days does it take to get a MUDRA loan through SBI?
For the Shishu category, the turnaround is typically 7-10 working days after submission of all correct documents. After sanction, disbursement may take additional days; delays can occur due to verification, branch processing or missing documentation.
Is a MUDRA loan interest-free?
No, MUDRA loans are not interest-free. Interest is charged by the lending bank under the scheme; there is no government subsidy making them zero interest.