Mudra Loan Scheme

Mudra Loan or Mudra Loan Scheme in Idbi 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 Idbi Bank

Cash Credit / Overdraft - To meet Working Capital requirements.
Term Loan - To meet CAPEX including purchase of equipment/furniture or any such business requirements.

Mudra Loan Eligibility Idbi Bank

Individuals/ MSMEs engaged in non-farm entrepreneurial activities (manufacturing, trading and service enterprises including professionals rendering services) across the country (including rural, semi-urban, urban and metro centres).

Mudra Loan Amount Idbi Bank

No Minimum amount. Maximum Amount - Rs.10.00 lakhs.

Credit Facility

Term loan & Overdraft/ Cash Credit.

Mudra Loan Margin

Shishu: Nil & Kishore & Tarun: 25%

Mudra Loan Interest Rate Idbi Bank

12.75% to 13.75%

Security for Mudra Loan

No Collateral Security requirement.

Mudra Loan Tenure Idbi Bank

Overdraft & Cash Credit Limit - 12 months, repayable on demand.
Term Loan- Up to 5 years.

Guarantee

No third party guarantee requirement.

Mudra Loan Processing Charges

Nil for loan upto Rs. 5 lakh.
Up to 0.50% for others.

Mudra Loan Documents Required Idbi Bank

Mudra Loan Documents Required in Idbi Bank 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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