Table of Contents
Who is eligible for Mudra?
Eligibility: Anyone who runs small business enterprise is eligible to apply for mudra loan. Mudra yojana loans are given under three different categories. The first category, known as shishu (for extremely small business units) covers loans upto ₹ 50,000.
What are the documents required for Pradhan Mantri Mudra Yojana?
Documents Required for Pradhan Mantri Mudra Yojana
- Mudra application form.
- Vehicle loan application form.
- 2 passport size colour photographs.
- Photo Identity proof.
- Address proof.
- Income proof.
- Bank statement (last 6 months)
Which banks are giving Mudra loan?
Oriental Bank of Commerce.
Is income proof required for Mudra loan?
2 passport size photos of the applicant. Identity proof such as Aadhaar Card, Passport, Voter ID Card, Driving License, etc. Address proof such as Aadhaar Card, Passport, Bank statements, telephone or electricity bill. Income proof.
What is the age limit for Mudra loan?
The general guideline is that the minimum age to apply for a Mudra loan is 18 years at the time of loan application and the maximum age is up to 65 years at the time of loan maturity. However, applicants should check with their preferred bank or lending institution before submitting the application.
What is the interest rate of Mudra loan?
Interest rates on MUDRA loans start at the rate of 7.30\% p.a. and the loan repayment tenure ranges between 1 year and 7 years….MUDRA Loan Details.
| Interest Rate | 7.30\% p.a. onwards |
|---|---|
| Loan Amount | Up to Rs.10 lakh |
| Loan Tenure | Up to 7 years |
| Processing Fee | Subject to the lender |
Can I get Mudra loan 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.
What is Pradhan Mantri Mudra Yojana?
Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has formulated three Schemes to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur:- Shishu: Loans upto Rs. 50,000.
How to download Shishu loan application form under Pradhan Mantri Mudra Yojana?
The PMMY bankers kit to download application forms for Shishu, Tarun & Kishor component under Pradhan Mantri Mudra Yojana will appear as below:- Click at the download option in front of “ Application Form for Shishu ” in PMMY Bankers Kit to open Shishu Loan Apply Offline Form PDF:-
How to apply online for Mudra loan Yojana?
For more details, click the link – How to Apply Online for Mudra Loan Yojana Then choose the hand holding support, fill remaining PMMY application form and then apply to the preferred lender as mentioned in the lending institutions list. Your application shall be viewed by many lenders for credit support.
Where can I get mudra loan under pmmy?
The MUDRA loans under the PMMY can be taken from the approved Non Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Public/Private Sector commercial banks and Regional Rural Banks (RRBs) across India. The loans will be sanctioned by the lending institutions as per the eligibility.