Can I get Mudra loan for commercial vehicle?

Yes, you can get a Mudra Loan to purchase a commercial vehicle, to help you with your business. The business setup could be in rural, semi-urban, urban or metro centres.

Can Mudra loan be availed for new business?

Mudra Yojana is a loan scheme initiated by the Government of India to offer loan amount up to Rs. 10 lakh for individuals and MSMEs to start their new business or for existing businesses, without submitting any collateral or security.

Which business is eligible for Mudra loan?

Product / Offerings of MUDRA [MUDRA] is an NBFC supporting development of micro enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs / NBFCs for lending to micro units having loan requirement upto 10 lakh.

Which of the following Cannot grant loans under Mudra Yojana?

Which of the following cannot grant loans under MUDRA Yojana? Explanation: Payments Bank cannot grant loan.

What is the maximum limit of loan under Mudra Yojana?

Rs. 10 lakh
The maximum loan amount offered under the MUDRA scheme is up to Rs. 10 lakh with a repayment tenure of up to 5 years. Applicants are not required to submit any collateral/security or any third-party guarantee to apply for a Mudra loan.

What is the maximum limit of loan that can be availed under under Pradhan Mantri Mudra Yojana?

What is the maximum limit of loan that can be availed under Pradhan Mantri Mudra Yojana?

10 lakh
Pradhan Mantri Mudra Yojana is a Government of India scheme, which enables a small borrower to borrow from banks, MFIs, NBFCs for loans upto 10 lakh for non farm income generating activities. Generally, loans upto ` 10 lakh issued by banks under Micro Small Enterprises is given without collaterals.

Is guarantor required for Mudra loan?

The maximum loan amount offered under the MUDRA scheme is up to Rs. 10 lakh with a repayment tenure of up to 5 years. Applicants are not required to submit any collateral/security or any third-party guarantee to apply for a Mudra loan.

What is the purpose for which Mudra loan can be availed for carrying on any activity related to?

MUDRA Yojana is aimed at supporting all kind of income generating activities under manufacturing, processing, trading and service sector. Assistance can be availed under Micro Credit Scheme through any of the Micro finance institutions/Banks operating in the area.

Can I get Mudra loan for franchise?

You can apply mudra loan for your franchise startups. This kind of loan is available only on offline mode. If you wish to apply mudra loan for new franchise, you have to visit bank branch for it.

Which vehicles are eligible under mudra loans?

The purchase of transport vehicles is eligible under MUDRA loans. Such transport vehicles should be carriers of transportation merchandizes and passengers. The vehicles under this category comprise of auto rickshaws, small goods transport vehicles, three-wheelers, e-rickshaws, and taxis.

How to apply for Mudra loan?

Borrowers can also apply for the loan online at the official site www.udyamimitra.in. The vision behind MUDRA loan is to integrate financial and support services to serve those who are at the bottom of the pyramid and help them with comprehensive support for fiscal and social development.

What is pmpradhan Mantri Mudra Yojana?

Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015 by the Indian Prime Minister Mr. Narendra Modi with a purpose to provide loans to the non-corporate, non-farm small and micro enterprises. The loans are extended through refinancing scheme through Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.

What is the maximum amount for refinance under mudra?

The refinance is available for term loan and working capital loan up to an amount of 10 lakh per unit. The eligible banks/NBFC, who comply to the requirements as notified, can avail of refinance from MUDRA for the loans given by them for eligible MUDRA compliant activities under Shishu, Kishore and Tarun categories.