Mudra Loan Scheme

Mudra Loan or Mudra Loan Scheme in Tjsb Sahakari Bank Ltd, 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 Tjsb Sahakari Bank Ltd

To provide business purpose funding to the Non Corporate Small Business Sector to 'fund the unfunded' by bring such units in formal financials system and extending affordable credit to them.

Mudra Loan Eligibility Tjsb Sahakari Bank Ltd

Eligibility :

i. Individuals
ii. Others-Proprietary concern, Partnership Firm, Pvt Ltd Co, Ltd Cos, LLP, SHG, AOP, BOI

Income Eligibility :

i. In case of Existing set up: Income sufficient to take care of EMIs of applicant/s through cash accruals
ii. In case of New Set up: On projection basis acceptable to Bank

Age :

Maximum up to 60 years. Deviation in age or with co-applicant acceptable to bank on case to case basis.

Eligible sectors/activities are as follows :

i. Land transport sector :purchase of transport vehicles for goods personal transport such as auto rickshaw, small goods transport vehicles, 3 wheelers, e-rickshaw, passenger cars, taxis etc ii. Community, social and personal service :activities such as saloons, beauty parlours, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and photo copying facilities, medicine shops, courier agents etc
iii. Food product sector :for activities such as papad making, achar making, jam/jelly making, agricultural produce and preservation at rural level, sweet shops, small service food stalls and day to day catering/canteen services, cold chain vehicles, cold storages, ice making units, ice cream making units, biscuit, bread and bun making etc.
iv. Textile product sector/activity :activities such as handloom, powerloom, chikan work, zari and zardozi work, traditional embroidery and hand work, traditional embroidery and hand work, traditional dyeing and printing, apparel design, knitting, cotton ginning, computerized embroidery, stitching and other textile non garment products such as bags, vehicle accessories, furnishing accessories etc.

Mudra Loan Amount Tjsb Sahakari Bank Ltd

Rs. 50,000 to Rs. 10 lakh

Credit Facility

i. Cash Credit for working capital requirement
ii. Term Loan for purchase of equipments/ machineries/ furniture/ property

Mudra Loan Margin

Minimum 30%

Mudra Loan Interest Rate Tjsb Sahakari Bank Ltd

10.22%

Security for Mudra Loan

• Primary Security:
  1. Assets created out of the Bank's finance.
  2. Personal guarantee of promoters/directors.
• Collateral Security: No collateral security.

Mudra Loan Tenure Tjsb Sahakari Bank Ltd

Maximum 5 years including moratorium

Guarantee

Minimum One acceptable guarantor