Eligibility

All Micro enterprises engaged in manufacturing, trading and service sector including professionals (like CA/ICWA/CS/Architect/Medical professionals etc).

Nature of facility

Composite Loan. Term Loan and / or Working capital (Fund Based and Non-Fund Based)

Assessment /Quantum of facility

• Maximum limits upto Rs.10.00 lacs can be sanctioned to meet need based requirement.

Mudra loan are categorized as under depending on exposure.

Rate of Interest

Margin

• 5% for loans falling under the ‘Shishu’ loan category
• 10% for loans falling under the ‘Kishore’ and ‘Tarun ‘loan category.

Repayment

Working Capital:
12 months subject to renewal as per extant guidelines.
Interest to be recovered as and when due.

Term Loan:
To be repaid within maximum period of 84 months   in equated monthly installments inclusive of maximum moratorium period of  6 (six) months. Period of Moratorium to be allowed judiciously. Repayment Schedule in Finacle should invariably be mentioned as EMI.