Mudra Loan or Mudra Loan Scheme in Rbl Bank , 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.
Mudra Loan Purpose Rbl Bank
To cater to the needs of Micro Entrepreneurs under Pradhan Mantri "MUDRA" Yojana.
Mudra Loan Eligibility Rbl Bank
Mudra Loan Eligibility in Rbl Bank is mentioned below in full detail
- Applicant must be Indian Citizen, above 18 years old.
- All non-farm enterprises under Micro Enterprises and Small Enterprises segment
- Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01.04.2016
- The applicant should be engaged in income generating activities
- The applicant should be engaged in manufacturing, trading and services
- The applicant should have credit needs up to Rs.10.00 lakhs
- The borrowers must be any of the following list:
- Any individual including women
- Partnership firms
- Association of persons (AOP)
- Limited Liability Partnership (LLP)
Mudra Loan Amount Rbl Bank
- Shishu: Loans up to Rs.50,000 provided to only startup businesses
- Kishore: Loans above Rs.50,000 and up to Rs.5 lakh provided to only those businesses that have already started up but need financial aid for establishing
- Tarun: Loans above 5 lakh and up to Rs.10 lakh provided to only those business that are already established but require funds for expansion
- Cash Credit - For meeting the Working Capital Requirement of the Business Unit
- Term Loan - For meeting different purposes that require longer loan tenure
Mudra Loan Margin
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.
Mudra Loan Interest Rate Rbl Bank
Security for Mudra Loan
- Primary Security:
- Assets created out of the Bank's finance.
- Personal guarantee of promoters/directors.
- Collateral Security: No collateral security.
Mudra Loan Tenure Rbl Bank
No requirement of third party guarantee.
Mudra Loan Processing Charges
Banks may consider charging of upfront fee as per their internal guidelines. The upfront fee/ processing charges for Shishu loans are waived by most banks.
Please contact your nearest branch for getting more details.
Mudra Loan Documents Required Rbl Bank
Mudra Loan Documents Required in Rbl Bank are mentioned below infull detail.
Post Sanction Documents
- Profile of the Firm and Promoters
- Bank Statement for the last 6 months
- Audited Financial Statement of the last 2/3 years along with the schedules, notes to accounts and Audit Report
- ITR of the last 2/3 years along with all relevant Annexures
- Self-Certifi ed Provisional Balance Sheet and P&L A/c of 20
- Kuccha Bills, Sales & Purchase Register (Applicable for unsecured loans)
- Sanction letter of any existing banking facility
- Proof of Identity & age proof (Passport, Valid driving license, Voters ID Card, Pan card, Aadhar card)
- Proof of Address & signature (Valid driving license, Leave & License Agreement, Register sale deed or sale agreement)
- Proof of Address of the fi rm: Latest Telephone Bill / Electricity Bill / Bank Statement / Leave and licence agreement (Any One)
- Certificate of Registration of Firm (if registered) / Partnership Deed
- SSI Registration, if applicable
- VAT assessment order or Sales Tax Registration or License issued under Shop & Establishment Act or CST / VAT Certifi cate.
- Property paper including Title Deed, Completion Certifi cate, Occupancy Certifi cate, Tax Receipt, Sanction Plan, etc.
- Any other document / information as required on a case to case basis.
- Loan Agreement Booklet and other documents enclosed in the kit
- Accepted copy of Sanction letter
- Signature Verifi cation
- ECS/ SI/ PDC/ Security Cheques