Procedure for applying Mudra Loan Online
MUDRA is a refinancing Institution. MUDRA does not lend directly to the micro entrepreneurs / individuals. Mudra loans under Pradhan Mantri Mudra Yojana (PMMY) can be availed of from nearby branch office of a bank, NBFC, MFIs etc. Borrowers can also now file online application for Mudra Loans in multiple platforms or through Banks.
Mudra loan is extended for a variety of purposes which provides income generation and employment creation in Manufacturing, Services, Retail and Agri. Allied Activities.
Procedure for applying Mudra Loan Online
The following is the step wise detail to apply for Mudra loan online:
Step 1: Go to psbloansin59minutes.com/home and Click on “Apply Now”
Step 2: Sign up for the loan application by entering your Name, Mail Id and Mobile and click on Send
OTP button. An OTP will be received on the mobile. Enter the OTP and click on Proceed button.
You will be prompted to enter new password for Login. Enter the password and click on “Proceed”
Step 3: Submit your requirement
In the next step you will be asked to submit your requirement i.e. whether you want MSME loan or Business loan under Mudra Scheme.
Select “Mudra Loan” and Click on Proceed
Step 4: Filing of Loan application form:
The loan application is of 3 parts:
Provide Your Data, Select Banking Partner and Get approvals
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