Pradhan Mantri MUDRA Yojana loans at Canara Bank Canara Mudra
Canara Bank's Mudra loans for non-corporate micro businesses, from Shishu up to Tarun Plus. The Mudra scheme itself has its own record in this guide.
Last updated on
- Status
- Open
- Run by
- Canara Bank
What you get
- Shishu up to ₹50,000, Kishor ₹50,001 to ₹5 lakh, Tarun ₹5 lakh to ₹10 lakh
- Tarun Plus above ₹10 lakh up to ₹20 lakh for those who have repaid an earlier Tarun loan
- Term loan or working capital
- No collateral for micro loans
- No margin up to ₹25,000, 15% to 25% above that
- Term loans over 5 to 7 years, with a 2 to 3 month repayment holiday where needed
Who can apply
- Open to businesses in manufacturing, services and trading.
- Micro enterprises.
- The most on offer is ₹20 lakh.
- Individuals, proprietorships, partnerships and self help groups. Private limited companies, HUFs and trusts are not eligible
- Existing customers need a good record for 2 years. New customers need a good opinion letter from their current bank
- Not a defaulter with any bank
How to apply
- Use Apply Online on the page, or fill in the NF998 MSME application at a branch
In person, nearest Canara Bank branch
In Kerala, any Canara Bank branch in Kerala, or the Apply Online link on the page
Documents to keep ready
- Identity proof with the NF998 MSME application
- Address proof for the unit and the promoters
- Licences or permissions
- Accounts for the last 2 years with income tax returns, and projections for the next year
- Sales so far in the current financial year
- Project report
Figures you may see elsewhere
The page lists Tarun Plus up to ₹20 lakh but its target group line still says up to ₹10 lakh
The page says no collateral or third-party guarantee for micro loans but asks for guarantor details in the document list
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.