MUDRA Loan

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IDBI Bank MUDRA Loan

Overview

IDBI Bank offers MUDRA Loan facility for financing the credit requirements of all non-farm income generating activities, under Pradhan Mantri Mudra Yojna (PMMY).

The details of IDBI Bank MUDRA Loan are as below
Eligible Segments

Individuals/MSMEs engaged in non-farm entrepreneurial activities (manufacturing, trading and service enterprises including professionals rendering services) across the country (including rural, semi-urban, urban and metro centres).

Facility                                

Term Loan                
Cash Credit

Purpose

Cash Credit / Overdraft - To meet Working Capital requirements.
Term Loan - To meet CAPEX including purchase of equipment/furniture or any such business requirements.

Loan Amount

Minimum – None.
Maximum – Rs. 10 lakh.

Tenor

OD & CC Limit – 12 months, repayable on demand.
Term Loan- Up to 5 years.

Pricing                

Linked to Bank’s Base Rate and Rating.

Security

No Collateral Security requirement.

Guarantee

No third party guarantee requirement.

Margin                                

Nil for Loan upto Rs. 50,000.
25% for others.

Processing Charges

Nil for loan upto Rs. 5 lakh.
Up to 0.50% for others.