PNB Mudra Loan Application Form of 10 lakh rs: Are you thinking of starting your own small business? Or if you are already running a business but are short of working capital, then no need to worry! Punjab National Bank (PNB) has introduced Mudra loan schemes that are set to provide you with the funds you need for business. But the question is, are these schemes really as effective as they seem? Let’s know more about this PNB Mudra Loan scheme and understand how it can benefit you, or not!
The objective of Pradhan Mantri Mudra Yojana (PMMY) is to provide financial help to small and medium businessmen of the Indian non-agricultural sector. Punjab National Bank has introduced three major loan schemes under this PNB Mudra Loan scheme. These schemes are PNB e-MUDRA (SHISHU), PNB Kishore Loan Yojana and PNB Tarun Loan Yojana. Apart from this, if you are associated with handloom, then there is also PNB Wavier Mudra Yojana for you. Under this PNB Mudra Loan scheme, you can get a loan to expand your business, but at the same time there are some terms and conditions. So can these schemes meet your needs? Let’s understand it in detail.
PNB e-MUDRA (SHISHU) Scheme
If you are thinking of starting a small-scale business, then PNB e-MUDRA (SHISHU) scheme can be a great option for you. Under this scheme, you can get a loan of up to Rs 50,000. Now this amount may seem small to you, but it can be a good opportunity for start-up. If you want to have small-scale capital so that you can start your business, then this loan can be the first step in that direction.
Any goods along with the principal amount will be mortgaged as hypothecation on the financial assistance purchased from the bank. The loan tenure can be up to 7 years, giving you enough time to repay it.
PNB Kishore Loan Scheme
Your business is gradually starting to do well and now you feel the need for a big amount. Here PNB Kishore Loan Scheme can be useful for you. Under this scheme, you can get a loan of Rs 50,000 to Rs 5 lakh. This can provide the necessary capital to further expand your business. But as we all know, when there is more money, the responsibility also increases. Therefore, the paperwork and responsibility for this loan can also be equally big.
PNB Tarun Loan Scheme
If your business has achieved great success and now you want to expand it further, then PNB Tarun Loan Scheme is for you. Under this scheme, you can take a loan of Rs 5 lakh to Rs 10 lakh. This amount is more than before and it can help in expanding your business to a larger level. In the 2024 budget, it has also been proposed to increase this amount to Rs 20 lakh, which will provide an opportunity to invest more. But keep in mind, the bigger the loan, the more paperwork and responsibility.
PNB Wavier Mudra Yojana
If you are running a business related to handloom, then PNB Wavier Mudra Yojana can be a great option for you. Under this scheme, you can get a Mudra card (RuPay card) of up to Rs 50,000, which you can use for your working capital. Although this loan may be slightly smaller than other schemes, it is a special scheme for handloom businessmen, so that they can expand their business.
PNB Mudra Loan Interest Rates
Now let’s talk about the most important issue—interest rates. Interest rates are important when taking a loan, and Punjab National Bank offers the following interest rates
| Loan Amount | Interest Rate (p.a.) |
| Up to Rs 50,000 | 9.40% |
| Rs 50,000 to Rs 10 lakh | 10.65% |
These interest rates are decent, but keep in mind, these are only the interest rates. Apart from this, there may be some additional charges, which you can get information about from the bank.
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Eligibility Criteria: Are you eligible for this loan?
If you are an individual, proprietorship concern, partnership firm, LLP, or company, then you can apply for this loan scheme. But one more thing, you should not be a defaulter of any bank/financial institution. If you are a handloom businessman, then you also need a good CIBIL score.
Document Requirements
If you want to apply for this loan, then you will need some documents. Like:
For PNB e-MUDRA (SHISHU) scheme:
| Identity proof | Aadhar card, PAN card, voter ID etc. |
| Address proof | Utility bill, property tax receipt, government certificate etc. |
| Bank details | Bank account statement of last 6 months. |
For PNB Kishore and Tarun Yojana
Proof of identity and address: Apart from the above-mentioned documents, you will also need to provide tax returns and financial statements.
Conclusion: Can these loans help you?
By now you know that PNB Mudra loan scheme comes with various loan options. But can these schemes really help you? If you have a small business and want to expand it, then these schemes can help you. However, before taking a loan, you need to keep in mind that the bigger the loan, the more responsibility.
Well, if you have a good business idea and want to expand it, then PNB Mudra loan scheme can definitely be an option. But remember, no loan is free, and you will have to repay it.