Pradhan Mantri Mudra Yojna (PMMY) is launched by the government of India to support MSMEs and budding entrepreneurs. MUDRA stands for the Micro Units Development and Refinance Agency. Introduced by the honorable Prime Minister Narendra Modi on 8 April 2015 a loan that can serve the financial needs of businesses that are in manufacturing, servicing, retail and agriculture-allied activities.
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A Mudra loan is a financial support scheme offered by the government of India to promote entrepreneurship and generate employment in the country. The PMMY scheme provides Rs. 10 lakh loans to the MSMEs which includes the non-corporate, non-farm small/micro enterprises. The loans are given to eligible candidates by commercial banks, NBFCs, and other financial institutions. A borrower can directly apply for the loan on the official website or through My Mudra. There are three products of the Mudra schemes namely SHISHU, KISHORE, and TARUN.
The scheme offers loans with no processing fee and no collateral. The tenure for the repayment of the loan can be extended to 5 years. The only requirement is that an applicant should not be a defaulter from any bank, NBFC, or any other financial institution.
· Manufacturing companies
You are doing an awesome work as team. Faster service with immediate response is quite amazing. Will recommend to everyone in need, faster documents processing …….Keep up the good work
Amazing. Dedicated. Professional. I came through a reference from my Aunt. I was getting a personal loan for the first time. I was nervous. But they made me sail through the loan application process. Good work. Definitely recommend
Folks, they are very quick with their services. I actually didn't know there were so many conditions for getting a loan. My documents weren't proper as well. They really helped me pick up my profile. Also, they give you helpful suggestions regarding which banks should I opt for.
Excellent service from all team members. All are supportive. Its different from others NBFCs. Now and in future, My Mudra is my first choice for financial needs.
The service provided by My Mudra is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.
I was in dire need of funds for a medical emergency. Due to my low CIBIL score, I didn’t much get support from other lenders. This is when I submitted a personal loan application on My Mudra. Fortunately, I got the amount, and that too at lower interest rates. Thanks to My Mudra. The entire application was very smooth.
I have had a wonderful experience with My Mudra. The process was exceptionally seamless when I applied for a loan. I also liked how their people interacted with me. It is the best solution to the month-end cash issue. Also, I can use it to pay off my credit card dues.
To realize my business plans, I decided to take My Mudra Business loan and my decision was perfectly alright. It assured me of fast money and the entire process was transparent. No surprise loan charges helped me plan my working capital and manage my business activities efficiently.
I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
I wanted quick fund disbursal and one of my friends suggested me to apply for a personal loan from My Mudra. He had a great experience. I agree with him. The application and approval process were smooth. They offer fast money transfers to my bank. I was asked to choose the repayment period. I am happy with the services. Their agents are also polite and helpful.
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