Home / Others / Mudra loan | Pradhan Mantri Mudra Loan Yojana Scheme Details

Mudra loan | Pradhan Mantri Mudra Loan Yojana Scheme Details

About Mudra loan :

Mudra loan is for people who are economically poor and need money for doing business, they can apply for Loan under Pradhan Mantri mudra loan yojana.it is started PM NARENDRA MODI on8THApril 2015,Pm mudra loan provide nearly 10laks to people who need to grow their business and their day to day Business needs, this help in  creation of  newer jobs too. This is applicable to all over India and pm Mudra bank has more than 70 cores and this amount is used to people who need for good output.

mudra loan
                                                                mudra loan

Pradhan Mantri mudra loan in details format:

Scheme name: Pradhan Mantri mudra loan bank yojana

Start date           : 8th April 2015

Last date            : no last date

Loan amount   : 50,000 to up to 10 lacks

Types                   : Shishu (50k),    Kishore (5laks),   Tarun (10laks)

Who are eligible: small business owners

Recovery method of mudra loan:

People who are got mudra loan they have to pay installments correctly because mudra loan bankers had Strict rules to recovery method also.

Structure of mudra loan:

Shishu (50k): people who are going to start small business under 50k they are eligible to take this amount

Kishore (5laks): people who are already started their business and need amount for further day to day Need they are eligible to take 50k to 5laks of the amount.

Tarun (up to 10laks): people who are already entrepreneur they have to submit proper documents to Take this amount.

Interest rates on mudra loan:

The interest rates are depending on the bank and people business needs. The government will give subsidy But the percentage is not declared yet .commonly corporate banks will charge 10 -11% of interest.

How to apply for mudra loan:

There are no particular rules for mudra loan just go to banks and ask them for interest rates and give them detailed description about your business, they will provide mudra loan form if you have current Account it becomes easier And processes quickly. If you need any new equipment you need to take Invoice along with you. After All documents verification, they will provide you a loan.

Mudra loan yojana in SBI:

The government has decided to provide loan through SBI from 25tSeptember 201515 onwards .in forms of Sishu, Kishore, Tarun has been launched. Each bank has given the target to give mudra loans .each bank Unit Give the loan to nearly around 25 units, this may increase depends on the cities and population they Have. In 2/2/2016 India launched startup India stand up India would be aligned to mudra loans .so the startups will access the loans for their business.

Mudra loan helpline numbers:

A lot of people is inquiring about the helpline Numbers to the inquiry about the loans and raise the Complaints about loans and banks. Here are the Numbers: 180 180 1111 and 1800 11 0001

Mudra loan card:

After all, banks will provide one card called mudra loan card it acts like credit card and debit card to withdraw from atm and also you can draw from pos machines, by using this card you can do

  1. withdraws from ATMs
  2. Swipe the card at pos machines
  3. Can be used like credit card to avail the overdraft facility

As of now some banks are not accepting mudra loans facility we hope they will also come up with that quickly

Mudra bank loan for women, SC, ST:

The government has clarified to give preference to women’s and SC and st’s, but there are no such clear Rules on this as of now.

Eligibility criteria for Mudra Loan :

This loan is for small businesses, you don’t get the loan if you have high turnover, and mudra loan is not for Buying a house or for study loan or for buying a vehicle, people who are above 18 years eligible to take Mudra loans.