HDFC Bank Mudra Loan

HDFC Bank Mudra Loan: 10 Lakh Instant Loan

You can borrow up to 10 lakh Mudra loan. This loan is available for non-corporate, non-farm small & micro-enterprises. If you have a small business, you can apply for an HDFC bank Mudra loan.

The loan repayment tenure is 5 years. The interest rate is 8.60% to 20% per annum. You may apply for a loan without any collateral or security.

HDFC Bank Mudra Loan Quick Recap

Loan AmountUp To 10 lakh
Interest Rate8.60% to 20% p.a.
Repayment Tenure5 years
Foreclose ChargeNIL
Processing ChargeNIL
Eligible ForSelf Employed

Benefits of HDFC Bank Mudra Loan

Minimal Documents: Apply for a Mudra loan with less documentation. KYC & income proof will require to apply.

No Processing Charge: The processing charge is nil. You will get the loan without paying any charges.

Flexible EMI: You can pay the loan within 5 years. The flexible repayment tenure is offered by HDFC bank.

Interest Rate: The interest rate is affordable. Interest rate starts from 8.60% to 20% p.a.

No Collateral: HDFC bank is offering zero collateral-free loans. So, you can apply for a loan with your own documents only.

Higher Loan: You may get up to 10 lakh HDFC bank Mudra loan.

Comparison of Business Loan Interest Rates from Banks / NBFCs

Bank/NBFCsInterest RateLoan Apply
Bandhan Bank10.60% – 17.26% p.a.Apply Now
Faircent12% – 28% p.a.Apply Now
Hero FincorpUp to 25% p.a.Apply Now
IIFL11.25% – 33.75% p.a.Apply Now
Home Credit2% per month onwardsApply Now
Navi9.9%  to 45% p.a.Apply Now
Kotak Mahindra Bank16% – 19.99% p.a.Apply Now
Lendingkart1% – 2% per monthApply Now
Money View1.33% per monthApply Now

HDFC Bank Mudra Loan Eligibility

  • Indian Citizenship
  • Individuals
  • Small businesses
  • IT File required
  • -1 or 700+ CIBIL required
Also Read: How to get business loan up to Rs. 30 lakhs

Types of Mudra Loan

Mudra loans have 3 different types of categories. Check out the below:

Shishu LoanUp To Rs. 50,000
Kishore LoanRs. 50,000 to Rs. 5 lakh
Tarun LoanRs. 5 lakh to Rs. 10 lakh

Documents Required for HDFC Mudra Loan

  • Aadhaar Card
  • Pan Card
  • Passport Photo
  • 2 Years Trade License
  • 2-Year IT File (Above 2.5 Lakh)
  • MSME Certificate
  • Last 12-month bank statement
  • Residential proof (Electricity bill/ Gas bill/ Water bill)

(Income Tax file not required for Shishu loan which is Rs. 50,000)

HDFC Bank Mudra Loan Interest Rate

HDFC bank Mudra loan interest rate depends on the type of loan that you are applying for.  Find out the Mudra loan interest rate given below:

Shishu Loan1% – 12% p.a.
Kishore Loan8.60% – 11.15% p.a.
Tarun Loan11.15% – 20% p.a.

HDFC Bank Mudra Loan Apply Online

Step 1: Click on the “HDFC Bank Mudra Loan” button

Step 2: Click on the “Apply Now” tab to start the process.

Step 3: Fill up the form carefully.

Step 4: Submit the documents.

Step 5: Now the bank will verify all the documents.

Step 6: After the eligibility check, the bank will give the loan offer.

Also Read: Paytm Business Loan

HDFC Bank Customer Care Number

Contact HDFC Bank for loan-related queries. Customer care contacts you within 24 hours.

Toll-free Number:  1800 202 6161 / 1860 267 6161

Also, you can contact HDFC bank customer care directly through Contact Us.

FAQs on HDFC Bank Mudra Loan

What is Mudra Loan?

Pradhan Mantri MUDRA Yojana (PMMY) is specially designed for small/micro enterprises. This was launched by our honorable Prime Minister on 8th April 2015. You can get up to 10 lakh loans under this scheme.
Mudra (Micro Units Development & Refinance Agency Ltd) loan is another name for Pradhan Mantri MUDRA Yojana (PMMY). This scheme is basically designed for rural areas where the baking systems do not reach so much.

What is the maximum Mudra loan HDFC bank offers?

You may get up to Rs. 10 lakh Mudra loan through HDFC bank.

What is the benefit of a Mudra loan?

You will get the loan with a cheap interest rate & minimum documents will require.

How to get the Mudra loan application form?

You can download the Mudra loan application form through the given link or you can get it directly from brunch.

Can I get the HDFC bank Mudra loan fast?

It will take 7 to 10 days to get the loan. But if you apply for sishu loan (Rs. 50,000), you will get the loan within 2 days.

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