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Pradhan Mantri Mudra Yojana (PMMY) - Mudra Loan
The Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India launched in April 2015 for facilitating funding to the non-corporate i.e. small and micro enterprises in non-farm sector. The loan is extended for a variety of purposes which provides income generation and employment creation in manufacturing, trading and service enterprises including allied agricultural activities.
Types of Mudra Loans
This categorization signifies the stage of growth / development and funding needs of the beneficiary micro unit/ entrepreneur and also provide a reference point for the next phase of graduation / growth. The maximum loan amount that can be availed of under PMMY is ₹10,00,000. Based on amount of the loan, following are the three categories:
The loan amount can be availed in form of fund nature of credit facility
- The facility is collateral free i.e. borrowers need not provide any security or collateral for availing mudra loan
- The loan amount can be availed in form of fund based facility like term loan, overdraft, cash credit or non-fund based facility like letter of credit, bank guarantee, etc.
Eligibility for mudra loan
All small and micro enterprises in non-farm sector
Business Loan Calculator
A Business Loan is an easy way to grow your business and increase your revenue. Use the Business Loan Calculator to know how much your EMI will be.
Total Amount Payable
1,37,621
Disclaimer: These calculators are provided for representational purposes only. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to circumstances. All loans are at the sole discretion of Axis Bank Ltd.
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