Gujarat is home to a vibrant community of entrepreneurs, small business owners, and micro-enterprises. To support their growth, the Pradhan Mantri MUDRA Yojana (PMMY) offers Mudra Loans—affordable and collateral-free credit solutions tailored to meet various business needs. Whether you're starting a new venture, expanding operations, or managing working capital, a Mudra Loan in Gujarat can provide timely financial assistance with minimal paperwork and flexible terms.
Before applying, it's a good idea to check your business loan eligibility to understand what loan amount you may qualify for based on your business profile.
Types of Mudra Loans available in Gujarat
In Gujarat, Mudra Loans are available under three distinct categories, each tailored to match the stage of your business. Whether you are just starting or scaling your operations, you can choose a suitable option under the Pradhan Mantri MUDRA Yojana (PMMY).
Types of Mudra Loans:
- Shishu Mudra Loan: For startups and very small businesses. Offers loan amounts up to Rs. 50,000. Learn more about the Shishu Mudra Loan.
- Kishor Mudra Loan: Ideal for businesses in the growth phase. Loan amounts range from Rs. 50,001 to Rs. 5 lakhs. Explore the Kishor Mudra Loan.
- Tarun Mudra Loan: Designed for established businesses seeking higher capital. Loan amounts range from Rs. 5 lakhs to Rs. 10 lakhs. Know more about the Tarun Mudra Loan.
Eligibility criteria for Mudra Loan in Gujarat
To apply for a Mudra Loan in Gujarat, you must meet specific eligibility requirements. These ensure the scheme supports genuine micro and small business owners.
Key eligibility criteria:
- Must be an Indian citizen
- Should own a non-farm, non-corporate small or micro business
- Business must be involved in trading, services, or manufacturing
- No record of loan defaults
- Must have a viable business plan
To know more, visit the eligibility criteria for mudra loan.
Documents required for Mudra Loan in Gujarat
Lenders require certain documents to verify your identity, business ownership, and financial history while processing your Mudra Loan application in Gujarat.
Commonly required documents:
- Proof of identity: Aadhaar card, PAN card, Voter ID, driving licence, or passport.
- Proof of address: Aadhaar card, Voter ID, driving licence, passport, or recent utility bills.
- Proof of business: Ownership documents, business address proof, or establishment certificate.
- Additional documents: Caste certificate (for reserved categories), bank statements, income certificates, IT returns, or Form 16 verified by a chartered accountant.
Refer to the complete documents required for mudra loan.
Interest rates and charges for Mudra Loan in Gujarat
Mudra Loans are offered at affordable interest rates to ensure that micro-businesses can grow without financial strain. Charges may vary based on the lender and loan category.
Key details:
- Interest rate: Typically ranges from 9.30% per annum
- Processing fee: Varies by lender
- Collateral: Not required
- Repayment tenure: Up to 7 years
For the most up-to-date details, visit the Mudra Loan interest rate page.
How to apply for Mudra Loan in Gujarat?
Applying for a Mudra Loan in Gujarat is quick and easy, especially through digital platforms like Bajaj Finserv. Here’s how you can get started:
Steps to apply:
- Visit the Mudra Loan page on the Bajaj Finserv website
- Select the ‘APPLY ONLINE’ option to access the online application form
- Provide your basic information and confirm the OTP received on your mobile number
- Enter your KYC details along with your business information
- Upload your bank statement for the past 6 months and submit the completed form
You can also check your pre-approved business loan offer for quicker access to funds if you're an existing customer.
Benefits of Mudra Loan for Gujarat businesses
Mudra Loans come with a host of benefits tailored to support micro and small enterprises across Gujarat, enabling them to grow sustainably and independently.
Key benefits:
- Unsecured loans up to Rs. 10 lakhs
- Minimal paperwork and quick processing
- Encourages formalisation of micro-businesses
- Financial support for first-time entrepreneurs and women-led businesses
- Flexible repayment terms
Why choose Bajaj Finserv for Mudra Loan in Gujarat?
Bajaj Finserv offers Mudra Loans with a seamless digital experience, transparent terms, and fast processing—making it a reliable choice for business owners in Gujarat.
Reasons to choose Bajaj Finserv:
- Easy online application with instant processing
- Transparent interest rates and low fees
- Fast approval and disbursal
- Pre-approved loan offers for eligible customers
- Accessible support across Gujarat
Difference between Mudra Loan and Business Loan in Gujarat
While both Mudra Loans and Business Loans cater to business financing needs, they differ in loan size, eligibility, and target borrowers. Here's a side-by-side comparison:
| Feature | Mudra loan | Business loan |
|---|---|---|
| Loan amount | Rs. 10,000 to Rs. 10 lakhs | Rs. 2 lakhs to Rs. 80 lakhs |
| Target audience | Micro and small businesses | SMEs, startups, and growing enterprises |
| Loan categories | Shishu, Kishor, Tarun | Term Loan, Flexi Term Loan, Flexi Hybrid Loan |
| Collateral | Not required | Not required (in most cases) |
| Interest rate | Starts from 9.30% p.a. | Starts from 14% p.a. |
| Repayment tenure | Up to 5 years | Up to 8 years |
