Mudra Loan or Mudra Loan Scheme in Oriental Bank Of Commerce, Eligibility, Document Required, Interest Rate & How to apply?: Government of India has launched Pradhan Mantri Mudra Yojana (PMMY) on 8th April 2015 with a concept of 'funding the unfunded' micro enterprises in the country. It is government's finance scheme to provide business loan to new or existing micro or small scales businesses from rural areas in India.
To 'fund the unfunded' by bringing such enterprises to the formal financial system and extending affordable credit to them.
Any Individual, Proprietor, Partner etc. engaged in non-farm & allied to agriculture activities.
For starting/ extending business activities such as Manufacturing, Trading and Services & Activities allied to Agriculture.
Margin will be taken is based on the policy framework of the bank, depending upon overall guidelines of RBI in this regard. Banks may not insist for margin for Shishu loans.
Further, margin depends upon activity of finance. Please contact your nearest bank branch for more details.
11.20% to 12.95%
Hypothecation of Assets created out of Bank finance.
No requirement of third party guarantee.
Upto Rs. 5.00 lakh - Nil
Above Rs. 5.00 lakh to Rs. 10.00 lakh - Rs. 300/- per lakh or part thereof
Mudra Loan Documents Required in Oriental Bank Of Commerce are mentioned below infull detail.
CHECK LIST: (The check list is only indicative and not exhaustive and depending upon the local requirements at different places addition could be made as per necessity)
For working capital requirement maximum upto Rs. 20,000/-, MUDRA Card may be issued for cash withdrawal.
2019 February 23 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 March 04 is a bank holiday in Andaman And Nicobar Island due to Maha Shivratri.
2019 March 04 is a bank holiday in Chandigarh due to Maha Shivaratri.
2019 March 09 is a bank holiday in Andaman And Nicobar Island due to 2nd Saturday Bank Holiday.
2019 March 20 is a bank holiday in Assam due to Dol Jatra.
2019 March 20 is a bank holiday in Jharkhand due to Holika Dahan.