Mudra Loan EMI Calculator:
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Loan Amount:
₹500000 -
Rate of Interest (%):
8 -
Loan Terms (monthly):
36 -
Equated Monthly Installment (EMI) will be
Mudra Loan
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Benefits
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Features
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Eligibility
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Documentation
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Most Important Terms and Conditions (MITC)
Mudra Loan : Features
There are four types of Mudra loans depending on the loan amount:
- Shishu: Loans sanctioned under the PMMY scheme up to Rs. 50,000
- Kishore: Loans sanctioned under the PMMY scheme from Rs. 50,001 up to Rs.5 Lakhs
- Tarun: Loans sanctioned under the PMMY scheme Rs. 5,00,001 up to Rs. 10 Lakhs
- Tarun Plus: Loans sanctioned under the PMMY scheme Rs. 10,00,001 up to Rs. 20 Lakhs ( Only for those who have successfully repaid their Tarun category Loans)
- While there is no minimum loan amount under the Mudra loan scheme, the maximum loan amount that can be taken under the PMMY is Rs. 20 lakh.
- Borrowers don’t need to pay processing charges or offer collateral if they avail a Mudra loan.
- As per the PMMY scheme, the Mudra loan can not only be offered to enterprises in the non-farm sector but also can include those engaged in allied agricultural activities, such as horticulture and fisheries.
- ROI : As applicable to MSME Sector.
Mudra Loan : Eligibility
- All non-farm enterprises
- Under micro enterprises and small enterprises segment
- Engaged in income generating activities
- Engaged in manufacturing, trading and services
- Whose credit needs are up to Rs. 20 lakh.
- Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01/04/2016.
Mudra Loan : Documentation
- Duly filled Mudra Loan application form.
- Identity proof documents like Aadhaar/PAN/Driving License/Passport/Voter ID/ Government-issued photo ID of all applicants (in case of joint loans).
- Residence proof documents like latest utility bill/ Aadhaar/Voter ID/Passports/bank account statement of all applicants (in case of joint loans).
- Business ID and Address proof documents (Udyog Adhar/Licenses/Registration Certificates/Deed Copy, etc.).
- Latest photographs of the applicant/s.
- Proof of SC/ST/OBC/minority, if applicable.
- Proof of loan requirement, i.e., equipment quotations, vendor details, etc.
- Any other document as per sanction terms
Mudra Loan : Most Important Terms and Conditions (MITC)
Maximum Limit
Rs. 20 lakhs
Repayment Period
Term / Demand - Maximum up to 84 months with suitable moratorium subject to annual review
Working Capital – For 12 months subject to annual review
Margin
As per Banks Guidelines
Bureau Score validation
Minimum bureau score cut off as per Bank’s guidelines
Processing Fee
Nil for all category
Security
Hypothecation of assets created by Banks finance
No collateral
Insurance / Guarantee
Mudra loans are covered under CGTMSE coverage.
Pre-closure charges
Nil
Need Assistance?
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Toll Free Number
For Domestic Customers
Calling From Abroad (24X7):
+91 79-66296009 -
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22 Feb 2022Bank of Baroda Mudra Loans - Instant Zaroorat Aapki, Jhatpat Saath HamarabKp0yQYcd_I