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Image LOAN UNDER PRADHAN MANTRI MUDRA YOJANA (PMMY)

  • Under PMMY our Bank extend finance to the micro enterprises which are in the business of manufacturing, trading and service sector in rural, urban & metro areas.
  • There are three category of loans depending upon the size of the loan amount namely as under:
    • Shishu: Loan amount upto Rs. 50,000 is classified under this category.
    • Kishore: Loan amount exceeding Rs. 50,000 and upto Rs. 5.00 Lakhs is classified under this category.
    • Tarun: Loan amount exceeding Rs. 5.00 Lakhs and upto Rs. 10.00 Lakhs is classified under this category.
  • The rate of interest applicable to the units is in the range of MCLR + 0.40% to MCLR + 1.65%.
  • Loans covered under MUDRA is collateral free loans. However assets created out of the bank loan to be charged with the Bank.
  • Towards the security documents to be obtained against such loans, the following documents is generally obtained:
    • DP Note, Hypothecation Agreement, Letter of continuity, Term Loan agreement (If there is term loan) etc.
  • Other terms and conditions as per the norms of the bank to be applicable to such loans from time to time.
  • Common loan application forms are available in the web site.
  • Mudra success stories

    Mudra Loan Application (Hindi)

    Mudra Loan Application (English)


Contact details for MUDRA queries – 022-22892250
 
For details about any scheme, please contact your nearby Branch/Regional Office.
 

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