ITR for mudra loan

Yes Furnishing Details of ITR is Mandatory

Documents Required for Applying MUDRA Loan

Find below the checklist of the required documents before applying for a Mudra Loan:

Duly filled Mudra application form (PDF format) with Passport-sized photographs

KYC documents for the applicant include Passport, Voter’s ID card, Driving License, PAN card, Adhaar Card, Utility Bills (Water/Electricity Bills), Birth certificate, Class X certificate

Income Proof: Last 12 months’ bank statement

Last years’ ITR, if applicable

Proof of belonging to SC/ST/OBC Category, if applicable

Any other document required by the bank

Therefore, based on the type of business, required documentation is required to be furnished along with the standard set of MUDRA loan documents for a specific loan scheme, named Shishu, Kishor, or Tarun.

Mudra Yojana Features
Age Criteria: Minimum 18 years & Maximum 65 years
Interest rate: Varies from bank to bank
Minimum loan amount – Rs. 30,000
Maximum loan amount is up to Rs. 10 lakh
Collateral or Security: Not required
Processing Fee: Nil
Repayment Tenure: Up to 5 years
Applicants with no past loan defaults shall be considered

Types of MUDRA loan

Based on the growth phase and development stage of the business as well as the funding requirement, MUDRA loans are available in three categories named Shishu, Kishor, and Tarun. Further mentioned is the sanctioned loan amount offered under each category:

Under SHISHU Category: Loans up to Rs. 50,000

Under KISHOR Category: Loans from Rs. 50,001 to Rs. 500,000

Under TARUN Category: Loans from Rs. 500,001 to Rs. 10,00,000

Mudra Loan Eligible Entities

Mudra Loan can be availed by the following entities:

      Individuals and MSMEs

      Artisans, Vendors, Traders, Retailers, Manufacturers

      Sole Proprietorship, Partnership Firms, Limited Liability Partnerships (LLPs), only engaged in trading, manufacturing, and services sectors

      Small and Micro Manufacturing Units

      Small Scale Industry (SSI) Units