Description : Collateral free loans from Commercial Banks / MFIs / NBFCs for micro and small enterprises and for entrepreneurs engaged in other business activities such as agri-allied, trade, handicrafts etc. The credit from Mudra loans can be used for term loans, working capital/overdraft facilities, or to apply for letters of credit and bank guarantees. There are three categories in Mudra Loan that offers different ticket sizes Shishu - Loans up-to Rs.50000 Kishore - Loans between Rs.50000 to Rs.500000 Tarun - Loans between Rs.500000 to Rs.2000000Eligibility : 1. All MSMEs are eligible, including first time entrepreneurs.Process : Offline Process: 1. Applicant will have to approach the bank closest to the business location or the bank in which the business maintains its regular transaction and request for application form for MUDRA loan. 2. Margin contribution will be determined by the bank, Interest Rate is linked to the MCLR of the bank and the tenure of the loan can be determined by the bankers. Under PMMY banks are provided refinance for 36 months and banks can avail collateral cover under the CGTMSE scheme up to 60 months. Online Application Process: 1. Applications can be submitted via online PSB loan in 59 mins through this portal: https://www.psbloansin59minutes.com/home. Click on Mudra loan and the application process will begin. 2. Applications can be submitted via Jan Samarth Portal. Visit the website: https://www.jansamarth.in/home/hdfc. - Go to schemes and select Business Activity Loan and Select Pradhan Mantri Mudra Yojana and start the application processBenefit : Loan upto Rs.10,00,000