HDFC Bank Mudra Loan

HDFC Bank, a leading private sector bank in India, provides Mudra loans under the government-sponsored Pradhan Mantri Mudra Yojana (PMMY) to support the growth of micro and small enterprises.¹ These loans are designed to offer collateral-free credit to non-farm businesses in the manufacturing, trading, and services sectors.²

Key Features of HDFC Bank Mudra Loans

• Collateral-Free: HDFC Bank provides these loans without requiring any collateral or third-party guarantee, making it accessible for a wide range of small entrepreneurs.³
• Loan Categories: The loans are segmented into three categories based on the amount, catering to different stages of business growth:⁴
  • Shishu: Loans up to ₹50,000 for new businesses or those just starting.⁵
  • Kishore: Loans from ₹50,001 to ₹5 lakh for established businesses needing funds for expansion.⁶
  • Tarun: Loans from ₹5 lakh to ₹10 lakh for businesses looking to scale up their operations.⁷
• Purpose: The funds can be utilized for various business purposes, including working capital, purchasing machinery or equipment, business expansion, and technology upgrades.

Eligibility Criteria

To be eligible for an HDFC Bank Mudra loan, the applicant must meet the following criteria:

• The applicant must be an Indian citizen.
• The business must be a non-farm, non-corporate micro-enterprise.⁸
• The credit needs of the business should not exceed ₹10 lakh.⁹
• The applicant should not have any past loan defaults with a bank or financial institution.

Application Process

You can apply for a Mudra loan from HDFC Bank through both online and offline channels:

• Online Application: You can apply through the official HDFC Bank website or the government’s JanSamarth portal.¹⁰ Fill out the application form and upload the required documents.
• Offline Application: Visit the nearest HDFC Bank branch, fill out the application form, and submit it with the necessary documents.¹¹

Visit : https://www.hdfcbank.com/personal/borrow/other-loans/pm-mudra-yojana

Required Documents

The documents required can vary, but generally include:

• Identity Proof: Aadhaar Card, PAN Card, Voter’s ID, Passport, etc.¹²
• Address Proof: Utility bills, Aadhaar Card, Passport, etc.¹³
• Business Proof: Relevant licenses, registration certificates, or other documents verifying the business.
• Financial Documents: Bank statements of the last 6 months, and for Kishore and Tarun loans, latest ITR and financial statements.¹⁴
• Other Documents: Duly filled loan application form, and passport-sized photographs.¹⁵

Interest Rates and Repayment

• Interest Rates: HDFC Bank does not publicly disclose a fixed interest rate for Mudra loans. The rates are determined on a case-by-case basis, depending on the applicant’s credit profile and the specific business.¹⁶ It is best to contact the bank directly for the latest rates.
• Repayment: The repayment tenure is flexible, typically up to five years, with specific terms based on the business’s cash flow.¹⁷

For the most up-to-date information, it is recommended to visit the official HDFC Bank website or contact a bank representative.