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Sr. No.
Parameter
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
Mudra loan are categorized as under depending on exposure.
Loan amount upto Rs.50,000/-
Kishore
Loan amount exceeding Rs.50,000/- and upto Rs.5.00 lacs
Tarun
Loan amount exceeding Rs.5.00 lacs and upto Rs.10.00 lacs
Rate of Interest
Particulars
For Micro Enterprises
Advance Upto Rs.50,000/-
MCLR + 0.40%
Advance above Rs.50,000/- upto Rs.2.00 lakhs
MCLR + 0.90%
Advance above Rs.2.00 lakhs
MCLR + 1.65%
Margin
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.
*Conditions apply, for further details, please visit our nearest Branch.