Mudra Loans

The Pradhan Mantri MUDRA Yojana was launched to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.

Purpose

  • Cash Credit / Overdraft - To meet Working Capital requirements
  • Term Loan - To meet capital expenditure including purchase of equipment / furniture or any such business requirements
  • For setting up of new/upgrading existing Micro business enterprises in the manufacturing, processing, trading and service sector and carrying out activities allied to agriculture, financing to weavers and artisans (income generating activity)

Eligibility

  • Any individual including women
  • Proprietary concern
  • Partnership firm
  • Private limited company or any other entity are eligible applicant under PMMY loans

Limit & Margin

Limit

Term Loan and/or Working Capital up to maximum Rs.10 lakhs under the following categories

  • SHISHU : Loans sanctioned under the scheme up to Rs.50000
  • KISHORE : Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
  • TARUN : Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs
  • Margin

    • For SHISHU - Nil
    • For KISHORE & TARUN Schemes - 15% margin needs to be invested.

Security

  • Hypothecation of assets created out of the Bank’s finance.
  • No collateral security is required
  • All eligible activity would be covered under the guarantee cover under ‘Credit Guarantee Fund for Micro Units’.

Repayment

  • Maximum of 36 months for demand Loans
  • Interest to be serviced as and when charged.
  • Maximum 84 months for term loans(including moratorium period, if any).

Interest Rates & Charges

  • Please visit Loan Interest Rates page for details
  • Cash Credit / Overdraft - To meet Working Capital requirements
  • Term Loan - To meet capital expenditure including purchase of equipment / furniture or any such business requirements
  • For setting up of new/upgrading existing Micro business enterprises in the manufacturing, processing, trading and service sector and carrying out activities allied to agriculture, financing to weavers and artisans (income generating activity)
  • Any individual including women
  • Proprietary concern
  • Partnership firm
  • Private limited company or any other entity are eligible applicant under PMMY loans

Limit

Term Loan and/or Working Capital up to maximum Rs.10 lakhs under the following categories

  • SHISHU : Loans sanctioned under the scheme up to Rs.50000
  • KISHORE : Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
  • TARUN : Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs
  • Margin

    • For SHISHU - Nil
    • For KISHORE & TARUN Schemes - 15% margin needs to be invested.
  • Hypothecation of assets created out of the Bank’s finance.
  • No collateral security is required
  • All eligible activity would be covered under the guarantee cover under ‘Credit Guarantee Fund for Micro Units’.
  • Maximum of 36 months for demand Loans
  • Interest to be serviced as and when charged.
  • Maximum 84 months for term loans(including moratorium period, if any).

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