PNB E Mudra Loan is a scheme offered by Punjab National Bank (PNB) under the Pradhan Mantri Mudra Yojana (PMMY) for micro, small, and medium enterprises (MSMEs) in India. This is a business loan that is given to strengthen small businesses. The scheme offers loans up to Rs 50,000 without collateral or documents to eligible borrowers with a PNB savings account linked to Aadhaar.
PNB Mudra Loan can be used for various purposes like working capital, business expansion, machinery purchase, etc. Here, we will provide you with the features, benefits, and fee details of PNB e Mudra Loan.
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PNB E Mudra Loan Apply Online 50000 Review
|Article Topic||PNB E Mudra Loan Online Apply|
|Interest Rate||Competitive interest rates start at 9.60% per annum.|
|E Mudra Loan Amount||Rs 50,000 to 10 Lakhs|
|Processing Fee||0.50% on Loan Amount|
|Tenure||Up to 5 years|
What is PNB E Mudra Loan?
PNB E mudra loan is a government scheme that offers financial assistance to small and micro business enterprises. PM E Mudra Loan Scheme was launched in 2015 by the Prime Minister of India, Narendra Modi. People who want to start or expand their business can apply for Prime Minister E Mudra’s Loan.
There are three types of PNB E mudra loans based on the stage of business and funding needs: Shishu, Kishore, and Tarun.
- Shishu loans are for businesses that are in the initial stage and need up to Rs 50,000.
- Kishore loans are for businesses that are in the growth stage and need between Rs 50,000 and Rs 5 lakh.
- Tarun loans are for businesses that are in the expansion stage and need between Rs 5 lakh and Rs 10 lakh.
PNB E Mudra Loan Eligibility Criteria
To avail of an e-Mudra loan, you must have eligibility and fulfill certain conditions, only then you can apply for a PNB e-Mudra Loan:
- Must be an individual customer with SB/CA active with PNB for the last 6 months.
- Must have Udyam Registration Number, which is mandatory and will be verified during the online customer journey
- The age should be between 18 to 60 years.
- You must be engaged in non-agricultural income-generating activities in the manufacturing, trading, or service sectors.
- There should not be a default in payment to any bank or financial institution.
Documents Required for PNB E Mudra Loan 50000
For a PNB e Mudra loan up to Rs 50,000, not many documents are required, you can apply for this loan with just a few compulsory documents.
- PAN Card.
- Mobile number should be linked with Aadhar Card.
- Proof of Address: Any one of the documents – Telephone bill, Electricity bill, Passport, Ration Card, Rental agreement, Aadhar Card, etc.
- Proof of Identity: Any one of the documents – Passport, PAN Card, Ration Card, Aadhar Card, Voter’s ID Card, Driving Licence.
- Latest Passport Size Photograph.
- Business Proof (e.g.: FDA Licence Gumasta/Shops & Establishment, GST, Udyog Registration, Etc.)
To apply for a loan of Rs 50,000 to Rs 10 lakh, you need to approach the bank with business-related documents, and your business should be 3 years old.
How to Apply Online for PNB E Mudra Loan 50000?
To avail PNB Mudra Loan you will apply online and offline. If you want to take a loan of Rs 50000, you need to apply online with some mandatory documents.
Visit the official website of Punjab National Bank.
In the first step, you have to go to the official website of pnbindia.in, the link of which is given here.
Go to the Loan section and select MSME scheme.
In the second step, you have to select PNB Mudra Loan Shishu from the MSME scheme in the loan section.
Enter your Customer ID or Account Number or Mobile Number.
In the third step, you have to enter your account number or customer ID and click on the Proceed button.
Enter your Aadhaar number.
Here you enter your Aadhaar number and click on Generate OTP, OTP will come to the mobile number linked to your Aadhaar, and enter it.
PNB E Mudra Loan Shishu Yojana Form
In this step, you will have to fill out the Shishu Mudra Loan Form carefully, in which you will also have to fill in the details related to your business.
Upload the form with the required documents.
After filling out the form, the necessary documents attached to the form will have to be scanned and uploaded.
Submit your documents
Double-check your form, if everything is correct then submit it.
Your application will be scrutinized by Punjab National Bank. If everything is found correct then Rs 50000 will be transferred to your bank account.
How to use PNB e Mudra loan amount wisely and efficiently?
Use the loan for productive purposes like working capital, business expansion, machinery purchase, etc. This will help you increase your income, improve service quality, and increase your customer base.
Avoid using loans for unproductive or speculative purposes such as gambling, stock trading, personal expenses, etc. This will only lead to a waste of money, debt accumulation, and legal troubles.
Repay the loan on time and avoid defaults or delays in EMIs. This will help you maintain a good credit history and score, which will improve your chances of getting more loans in the future. This will also save you from paying additional interest and penalty charges.
Maintain proper records and accounts of your business transactions and income. This will help you track your cash flow, manage your expenses, and plan your budget. This will also help you file your GST and Income Tax returns correctly and on time.
If you face any challenges or difficulties in running your business, seek professional advice from experts or consultants. They can guide you with valuable insights, suggestions, and solutions to overcome your problems and achieve your goals.
FAQs Related to PNB E Mudra Loan
Can I get a Mudra Loan from Punjab National Bank?
Yes, you can get Prime Minister E Mudra Loan from Punjab National Bank, the condition is that you should have a business as it is a business loan that can be availed only by Indian citizens. If you want to expand your business, then you are eligible for a loan.
How much is the interest on the MUDRA loan of Rs 50000?
At present, many banks are providing business loans to their customers under the Pradhan Mantri e Mudra Loan Scheme. The interest rate on Shishu Mudra Yojana starts from 9.60% per annum, which may vary from customer to customer.
What documents are required for the PNB Mudra Loan?
To avail PNB Mudra Loan of Rs 50000, a PAN card should be linked to an Aadhaar card mobile number, a passport-size photograph, a PNB savings account should be linked to Aadhaar, etc. Proof of Address: Any one of the documents – Telephone bill, Electricity bill, Passport, Ration Card, Rental agreement, Aadhar Card, etc.
How to Apply Online for PNB E Mudra Loan 50000?
To apply for an e-Mudra loan, you must have a valid UID card and a savings bank account in Punjab National Bank. You can apply online through the official portal of the scheme or visit the nearest branch of the Punjab National Bank. You have to fill out an application form and provide details of your occupation, income, Aadhaar number, bank account number, etc. You will also have to upload some documents like proof of identity, proof of address, proof of occupation, GST registration, Udyog Aadhaar, etc.