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Sr. No.

Parameter

Scheme Guidelines*
1.

Eligibility

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

2.

Nature of facility

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

3.

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.


Shishu

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

4.

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%

5.

Margin

 

  • 5% for loans falling under the ‘Shishu’ loan category
  • 10% for loans falling under the ‘Kishore’ and ‘Tarun ‘loan category.
6.

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.


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