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Introduction to Mudra Loan Application
Mudra Loan is part of Pradhan Mantri Mudra Yojana (PMMY). It helps small business owners get funds easily. In 2026, applying is fully digital and fast. People in Haryana like Panipat use it for shops, small farms, or services. Loans go up to ₹20 lakhs now (Tarun Plus category). No collateral needed. Government backs it fully. Over 40 crore loans given till now. Good News for Entrepreneurs! SBI E-Mudra Loan 2026 – Instant ₹20 Lakh Support
This scheme started in 2015. Now in 2026, limits increased. Shishu, Kishore, Tarun, and new Tarun Plus for good repayers. Apply online or offline. Many get money in days. Perfect for Panipat textile units, small traders, and women entrepreneurs.
Why Apply for Mudra Loan in 2026?
Mudra loan is simple and quick. No security required. Interest starts low. Funds for any micro business. Women get special benefits. In Haryana, extra state help links with it.
Panipat people use it for handloom, shops, or startups. Repayment easy up to 7 years. Processing fee nil or very low. Digital approval saves time.
Key Benefits of Mudra Loan
Money for machines, stock, or working capital. Builds credit score. Government pushes women and rural areas. Panipat youth start businesses fast.
Benefits Table
| Benefit | Details |
|---|---|
| No Collateral | Full amount without security |
| Quick Process | Online approval in hours/days |
| Low Interest | 8-12% only |
| Flexible Tenure | Up to 7 years |
| Women Priority | Special targets and easy approval |
Mudra Loan Categories in 2026
Four categories now exist.
Shishu Loan
Up to ₹50,000. For new starters. Easiest approval.
Kishore Loan
₹50,001 to ₹5 lakhs. For growing units.
Tarun Loan
₹5 lakhs to ₹10 lakhs. For established businesses.
Tarun Plus Loan (New in 2026)
₹10 lakhs to ₹20 lakhs. Only for those who repaid previous Mudra loan on time.
Loan Categories Table
| Category | Amount | Who Should Apply |
|---|---|---|
| Shishu | Up to ₹50,000 | New business |
| Kishore | ₹50,001 – ₹5 Lakhs | Small expansion |
| Tarun | ₹5 – ₹10 Lakhs | Running units |
| Tarun Plus | ₹10 – ₹20 Lakhs | Good repayers |
Eligibility for Mudra Loan
Simple rules apply.
- Indian citizen above 18 years.
- Micro or small business (non-farm, non-corporate).
- Activities like trading, manufacturing, services, allied agriculture.
- No existing default.
- Good credit score helps for higher amounts.
- Women, SC/ST, OBC get priority.
In Panipat, textile workers, shop owners, beauty parlours qualify easily.
How to Apply for Mudra Loan Online 2026
Two main ways: Udyamimitra portal or direct bank websites.
Step-by-Step Online Application Process
- Visit official portal: www.udyamimitra.in
- Click “New Entrepreneur” or “Mudra Loan”.
- Register with mobile and email.
- Fill business details, category (Shishu/Kishore/Tarun).
- Upload documents (Aadhaar, PAN, business proof).
- Select preferred bank.
- Submit. Bank contacts within 2-7 days.
- e-Sign with Aadhaar OTP.
- Money credited to account.
For instant: Use SBI YONO, Bank of Baroda, or PNB portals.
In Panipat, many apply via SBI e-Mudra on YONO app.
Offline Application
Visit any bank branch (SBI, PNB, BOI, Canara, HDFC, etc.). Fill Mudra form. Submit documents. Bank processes in 7-15 days.
Popular Banks for Mudra Loan Apply
All public banks, many private and RRBs offer it.
Top Banks for Fast Mudra Loans
- State Bank of India (SBI) – Best for e-Mudra online.
- Punjab National Bank (PNB)
- Bank of Baroda
- Canara Bank
- HDFC Bank
- ICICI Bank
- Union Bank
Bank Comparison Table
| Bank | Online Facility | Processing Time | Special Feature |
|---|---|---|---|
| SBI | Full e-Mudra | 15 min – 7 days | YONO app instant |
| PNB | Yes | 5-10 days | Good for Haryana |
| Bank of Baroda | Yes | 7 days | Women priority |
| Canara Bank | Yes | Fast | Rural focus |
| HDFC | Yes | Quick | Private bank speed |
Documents Required for Mudra Loan
Very few papers needed.
- Aadhaar Card (mandatory)
- PAN Card
- Business address proof
- Bank statement 6 months (if existing)
- Caste certificate (if SC/ST/OBC)
- Business plan (simple one page for Shishu)
- 2 photos
No income proof for Shishu.
Documents Checklist Table
| Document | Required For |
|---|---|
| Aadhaar | All categories |
| PAN | Above ₹2 lakhs |
| Business Proof | GST/Udyam (optional for small) |
| Bank Statement | Kishore/Tarun |
| Photos | 2 passport size |
Interest Rates and Charges 2026
Rates depend on bank and category. Generally 8-12%. SBI starts at 9.15%. No processing fee for Shishu. Max 0.5% for higher.
Women get 0.25% less in some banks.
Success Stories from Haryana
Many in Panipat got Mudra loans. One textile shop owner took ₹8 lakhs Tarun, now employs 10 people. Women beauty parlour owners use Shishu ₹50,000 and grow fast.
Conclusion
Mudra loan apply is now super easy online. Start today from home. Panipat people – visit nearest SBI or apply on YONO. 2026 is best year with ₹20 lakhs limit.
FAQ Section
How to apply Mudra loan online?
Go to udyamimitra.in or bank app (SBI YONO best).
What is maximum Mudra loan in 2026?
₹20 lakhs under Tarun Plus.
Documents needed for Mudra loan?
Aadhaar, PAN, business proof, photos.
Mudra loan interest rate?
8-12% depending on bank.
Who is eligible for Mudra loan?
Any Indian starting/running micro business.
Processing time for Mudra loan?
Hours to 15 days (fastest in SBI e-Mudra).
Can women apply Mudra loan?
Yes, special priority and lower rates.
Mudra loan for new business?
Yes, start with Shishu ₹50,000.
Is collateral required?
No, fully collateral-free.
Which bank is best for Mudra loan in Panipat?
SBI – many branches and fast online.
FAQ Table
| Question | Answer |
|---|---|
| Online Apply | udyamimitra.in or Bank App |
| Max Amount | ₹20 Lakhs (Tarun Plus) |
| Documents | Aadhaar + PAN main |
| Interest | 8-12% |
| Eligibility | Micro business owners |
| Time | Hours to 15 days |
| Women Benefit | Priority + lower rate |
| New Business | Yes, Shishu category |
| Collateral | No |
| Best Bank Panipat | SBI |