Mudra Loans

The Pradhan Mantri MUDRA Yojana was launched to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.

Purpose

Cash Credit / Overdraft - To meet Working Capital requirements
Term Loan - To meet capital expenditure including purchase of equipment / furniture or any such business requirements
For setting up of new/upgrading existing Micro business enterprises in the manufacturing, processing, trading and service sector and carrying out activities allied to agriculture, financing to weavers and artisans (income generating activity)

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Eligibility

Any individual including women
Proprietary concern
Partnership firm
Private limited company or any other entity are eligible applicant under PMMY loans

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Limit & Margin

Limit

Term Loan and/or Working Capital up to maximum Rs.10 lakhs under the following categories

SHISHU : Loans sanctioned under the scheme up to Rs.50000
KISHORE : Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
TARUN : Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs

Margin

For SHISHU - Nil
For KISHORE & TARUN Schemes - 15% margin needs to be invested.

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Security

Hypothecation of assets created out of the Bank’s finance.
No collateral security is required
All eligible activity would be covered under the guarantee cover under ‘Credit Guarantee Fund for Micro Units’.

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Repayment

Maximum of 36 months for demand Loans
Interest to be serviced as and when charged.
Maximum 84 months for term loans(including moratorium period, if any).

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Interest Rates & Charges

Please visit the Interest Rates page for detailed information.
Please visit the Service Charges page for detailed information.

Mudra Loans

Mudra Loans

Purpose & Eligibility

Purpose

Eligibility

Limit & Margin

Limit & Margin

Limit

Margin

Security & Repayment

Security

Repayment

Interest Rates & Charges

Interest Rates & Charges