Mudra Bankis an agency of central government. It is a micro units development refinance Agency. This is a provision of Central Government bail for those who take loan. This project was launched in 2015 by our Prime Minister Modi .Mudra bank loan is a scheme for entrepreneurs and traders to get the loan from the bank .
This facility is available at all branches of all banks in the country . The loan is available for up to 10 lakh .since then a lot of people looking for jobs who have benefited from this lone.There are three main types of loans
1)Shishu loan
It covering loans up to RS 50,000 .
2)Kishore loan
loans above Rs 50,000 and upto 5 lakh.
3)Tarun loan
Loans above 5 lakh to 10 lakh
Shishu loan is a small business loan .you can get this loan quickly with very little paperwork. For other types ,paperwork need to be done a little more efficiently. That is why there are three types of loans.
Important things to note
- Have a clear idea in mind about what’s gonna do ?where to do it? how much money do I need ?who are my customers? where do I buy products? how long will I have to stock it ?With all this in mind, create one and then write it down on a paper. This is called project report . There is no need for a long report of large Industries but there are things that should be kept to a minimum.
- First,where to start in the first place can sometimes be in the rental space, may be in his own building.
- Make a small balance sheet .
- It should have the licence from the panchayat.
- Go to the bank and talk to the manager about all these things .
- Give the documents to the bank .
- Each banks method requires a little more paperworks.
- By purchasing the checklist from the bank manager,tick the missing documents. Make the necessary documents and submit it to the bank next day.
There are two types of loans available.
- long term loan
You need to buy equipment tools ,computer, recording tools. This is a loan that includes all of what you can buy .
- Working capital loan
The second type is the cost of operating it .
Term loan is also available for long time payment and working loan is available as a part of mudra. These two loans are available for one person. This should not exceed Rs 10 lakh .
- The interest rate is between 9.5 to 12 %. Many banks are buying various interests. The minimum base rate of the bank comes an interest .
- Many people prefer private banks to get a loan . There is little difficulty in getting a private bank loan.a Actually all banks have to give this loan..
- The loan is 75 % of the total amount . The balance amount we have to find ourselves.
- There is no subsidy for this loan. We have to repay the loan.
- If we pay the first loan as correct ,we become eligible for the second section.If
- your business is well developed ,we can convert for the next loan before the first loan is paid off .
Documents
- Aadhar card
- ID card
- PAN card
- Address proof
- GST registration certificate
- Tax paid paper
- Licence
- Project Report
- 2 passport size photos.
Repayment period
The amount should be repaid in maximum 7 years .
How to join online
Visit the website
http:// www.mudra.org.in
How to join
- Visit nearest Bank.
- Fill the form .
- Submit the documents
Good..
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