Mudra Loan Scheme

Mudra Loan or Mudra Loan Scheme in Central Bank Of India, 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 Central Bank Of India

To provide funding to the Non-corporate Small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.

Mudra Loan Eligibility Central Bank Of India

Non-Corporate Small Business Segment (NCSB) comprising of millions of proprietorship / partnership firms running as Small Manufacturing Units, Service Sector Units, Shopkeepers, Fruits / Vegetable Vendors, Truck Operators, Food-service Units, Repair Shops, Machine Operators, Small Industries, Artisans, Food Processors and Others, in Rural and Urban Areas.

Mudra Loan Amount Central Bank Of India

Rs. 50,000 to Rs. 10 lakh

Credit Facility

Term Loan and Working Capital Loan facilities.

Mudra Loan Margin

Shishu: Nil & Kishore & Tarun: 25%

Mudra Loan Interest Rate Central Bank Of India

12.70%

Security for Mudra Loan

No Collateral Security or Third party Guarantee for loans up to Rs.10 lakh.

Mudra Loan Tenure Central Bank Of India

Up to 5 Years

Guarantee

No Third party Guarantee for loans up to Rs.10 lakh. All loans are covered under Credit Guarantee Fund for Mudra Loans.

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 Central Bank Of India

Mudra Loan Documents Required in Central Bank Of India 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)

 

Interest Rate

Fixed Deposit Interest Rate
PPF Interest Rate
Recurring Interest Rate
Saving Interest Rate

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