evidence: Launched in 2015, MUDRA Loan under Pradhan Mantri Mudra Yojana (PMMY) is a loan scheme offered by banks for individuals, startups, and business owners, as well as women entrepreneurs across India. Under this scheme loan amount up to Rs. 10 lakh are offered to women who want to start their own business or expand the existing one. The loan amount is offered under three categories named Shishu, Kishor, and Tarun. Find below the basic features of the loan scheme offered by banks and NBFCs under the Mudra Yojana: - Concessional Interest Rates for Women Entrepreneurs - Collateral-Free Business Loans: No collateral or security is required by banks or NBFCs - Loan Type: Term Loan / Overdraft - 3 Loan Categories: Shishu, Kishor, and Tarun - Loan Amount: No minimum limit and maximum up to Rs. 10 lakh - Repayment Tenure: Up to 5 years - Processing Fee: Nil to 0.50% of the sanctioned loan amount - Loans for Women living in both Urban and Rural regions of India [...] To expand your business from parlour to salon you can apply for Mudra Loan under Pradhan Mantri Mudra Yojana. Under its Tarun category or loan scheme you can avail loan from Rs. 5 lakh to Rs. 10 lakh without collateral and at low interest rates. You can visit the respective bank offering Mudra loan that is eligible from RBI’s directions. Rest, you can also apply for business loan from leading banks and NBFCs as per your business requirements.