HDFC Kishore Mudra Loan 2024- HDFC किशोर मुद्रा लोन 2024

HDFC Kishore Mudra Loan 2024: In the year 2015, the Central Government started the Pradhan Mantri Mudra Yojana. Under this scheme, HDFC Bank is providing Kishore Mudra loan up to Rs 10 lakh to its customers.

If you want to grow your business or start a new business, then HDFC Kishore Mudra Loan available at very low interest rates can help you. The loan recipient also gets 60 months to repay this loan. Read the article till the end to apply for HDFC Kishore Mudra Loan Scheme and know the necessary documents.

HDFC Kishore Mudra Loan 2024

In this, under the Pradhan Mantri Mudra Loan, a loan of up to Rs 10 lakh is given through Shishu, Kishor, and Tarun Yojana. Out of which, through HDFC Kishore Mudra Loan, a person can take a Mudra loan from Rs 50000 /– to Rs 10 lakh.

HDFC Kishore Mudra Loan is being provided to start a business or promote business, so its interest rate is also very low. Which will depend on the profile of the applicant. The beneficiary is also given 12 to 60 months to repay this entire loan.

Benefits and Features of HDFC Kishore Mudra Loan

• Under this, minimum documents are required to take a loan.
• The loan amount is transferred shortly after applying.
• HDFC Kishore Mudra Loan is given for non-agricultural services, trade, and manufacturing businesses.
• A maximum loan of Rs 10 lakh can be taken under Kishore Mudra Loan.
• At the same time, a loan of up to Rs 50000 will be given under Shishu Mudra Loan.
• If you want a loan of more than 10 lakhs, then you have to apply for HDFC Tarun Mudra Yojana.

Eligibility for HDFC Kishore Mudra Loan

• The applicant should already have a small industry or startup.
• Applicants who are not associated with any startup must have a detailed report of the project.
• The applicant must be an Indian citizen.
• The age of the applicant should be more than 18 years of old.
• There should not be any loan outstanding from before.
• Other eligibility will depend on the profile of the person which will be told to you while applying for the loan.

Documents required for HDFC Kishore Mudra Loan

• Photo identity proof like Aadhar card, voter ID card, PAN card, etc. is required.
• Residence certificate.
• Income certificate or latest ITR
• Any document of starting the business.
• Detailed project report.
• Bank statement of last 6 months.
• Mobile number.
• Passport-size photo.
• Bank account passbook.

How to apply for HDFC Kishore Mudra Loan Scheme?

• For this you can apply both online and offline.
• To apply online, first go to the official website of HDFC.
• On the home page, you have to click on the option of BORROW below.
• Now in the drop down menu of BORROW, in the Other Loan section, click on PM Mudra Yojana.
• After clicking, some features, eligibility, and information related to documents of PM Mudra Yojana will come on your screen.
• After reading all these, click on Apply Now below.
• As soon as you click, you will reach directly to the Jan Samarth portal.
• If you are already registered on this portal, then login by entering the username and password.
• After logging in, go to Business Activity Loan and click on Check Eligibility.
• On the next page, select PM Mudra Loan and select HDFC Bank.
• Now you will get an application form in which enter all the information asked carefully.
• After this, upload the documents and click on submit.

In this way you will be able to apply online for HDFC Kishor Mudra Loan.

How to apply offline?

• For offline application, you can go to any branch of HDFC Bank and get information about Kishor Mudra Loan.
• You will be given the application form from here.
• Enter all the information asked in this form and attach the documents with the form.
• Now submit this filled form along with the documents to any employee of the bank.
• After the application is submitted, your documents will be checked by the bank.
• If you are found eligible, the entire loan amount will be transferred to your bank account.

Types of Mudra Loans

MUDRA loans come under three types which are as follows for the loan amount:

• Shishu: Loan amount is up to Rs 50,000
• Kishor: Loan amount is from Rs 50,000 to Rs 5 lakh
• Tarun: Loan amount offered is from Rs 5 lakh to Rs 10 lakh

Features of Mudra Loan offered under HDFC Bank

• Proposed loan amount Rs 10 lakh
• Minimum documents required
• Mudra loans are offered to non-agricultural enterprises in services, trading and manufacturing segment whose credit requirement is less than Rs 10 lakh.
• Instant loan amount transfer

MUDRA Loan in HDFC: Eligibility Criteria

MUDRA loans are offered for various business sectors which include the following

1. Start-ups
2. Manufacturers
3. Small industrialists
4. Vendors
5. Shopkeepers
6. Individuals engaged in agriculture

Objective of HDFC Kishor Mudra Loan

The main objective of this Kishor Mudra loan is to help the bank’s customers by providing them loans to start their business or promote their industry so that they can start their business and stand on their feet and improve their financial condition.

Who can apply for HDFC Kishor Mudra Loan

To avail the HDFC Kishor Mudra loan facility, it will be mandatory to fulfill the rules set by the bank. Only after which you can apply for this loan. Information about all such eligibility is given below. The applicant for HDFC Bank Kishor Mudra Loan must be a citizen of India. The minimum age of the applicant for the loan should be 18 years.

Only non-agricultural and non-corporate sector enterprises in manufacturing, trade and services will be able to apply for this loan. The name of the applicant should not be included in the defaulter list of any bank or financial institution and the CIBIL report should be standard compliant.

FAQ: HDFC Kishore Mudra Loan 2024

1. What is Mudra?

Mudra, which stands for Micro Units Development and Refinance Agency Limited, was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016. This institution was established by the Government of India to undertake development and refinance activities relating to micro units. It serves the main purpose of providing funding to the non-corporate small business sector in rural areas where the reach of the traditional banking system is not much.

2. Who can avail loan under Mudra Yojana?

This scheme focuses primarily on the non-corporate small business segment (NCSBS), which largely includes proprietorship and partnership firms operating in rural and urban .

3. What kind of guidance can I get for food processing units?

Food processing is covered under one of the MUDRA schemes. Please contact your nearest HDFC bank for more information about the respective scheme. You can get assistance under MUDRA schemes as per your needs.

4. MUDRA loans prefer women, Dalits and SC/ST. I am a woman who has completed beauty parlor training and I want to open my own beauty parlour. Under which category of MUDRA loan should I apply?

Mahila Udyam Yojana is specially designed for women entrepreneurs and it comes under MUDRA scheme. Under this scheme, women can get assistance under all three groups, i.e. ‘Shishu’, ‘Kishore’ and ‘Tarun’. Please contact the nearest branch of HDFC Bank with your business proposal and supporting documents. They will tell you about the best interest rates and other offers according to your needs.

5. Is a Mudra loan better than an HDFC Bank personal loan?

personal loans can be availed by common citizens as well. The terms and conditions for both loan types are almost the same.  Personal loan applicants are not required to submit documents clarifying the end use of the loan amount.

Final Note:

Large scale industries are always preferred for providing credit facilities as they are believed to create more employment opportunities and contribute significantly to the economy.

However, it has been established that it is the MSME sector that creates more employment opportunities and earns more revenue. Pradhan Mantri Mudra Yojana was established with the sole purpose of providing access to credit to these eligible MSME units in both rural and urban India.