Bank Of India Mudra Loan Application Form Pdf

Bank of India Mudra Loan Application Form PDF

If you want to download Bank of India Mudra Loan Application Form PDF then you have reached the right website. In this post, you can download the Mudra Loan Form PDF through the link given inside this article.

Pradhan Mantri Mudra Yojana is a Government of India scheme, which enables a small borrower to borrow from banks, MFIs, NBFCs for loans up to 10 lakh for non farm income generating activities. Generally, loans up to ` 10 lakh issued by banks under Micro Small Enterprises is given without collaterals. UCO Bank offers business loans under the Mudra loan scheme. These loans help aspiring entrepreneurs to set up small businesses. Existing businesses can also avail these loans for the expansion of their activities. The interest rate on UCO Bank Mudra loans is 8.85% p.a.

Pradhan Mantri Mudra Yojana Objective

To fund the unfunded and to bring the millions of units which are existing outside the formal banking fold and are unable to sustain or grow due to lack of finance or relying on informal channels ,which are expensive or unreliable by bringing such enterprises to the formal financial system and extending affordable credit to them.

Eligibility

Any individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY loans.

Mudra Loan Purpose

For setting up of new/upgrading existing Micro business enterprises in the manufacturing, processing, trading and service sector and carrying out activities allied to agriculture, financing to weavers and artisans (income generating activity).</p

Nature of Facility

Term Loan and/or Working Capital up to maximum Rs.10 lakhs under 3 categories

  • Shishu : covering loans upto 50,000/-
  • Kishore : covering loans above 50,000/- and upto 5 lakh
  • Tarun : covering loans above 5 lakh to 10 lakh

Repayment

Maximum – 36 months for Demand Loan and 84 months for term loan including moratorium. Interest to be serviced as and when charged.

Margin

SHISHU KISHORE TARUN
upto Rs.50,000 above Rs.50,000 up to Rs.5.00 lakh above Rs.5.00 lakh up to Rs.10.00 lakh
NIL 15% 15%

Security

Primary Security-

  • Hypothecation of all assets acquired out of bank finance.
  • Personal guarantee of promoters/directors.

 Collateral Security

  • Nil

Rate of Interest

As prescribed by the Bank from time to time linked to MCLR

Documents Required for Pradhan Mantri Mudra Yojana

  • Mudra application form.
  • Vehicle loan application form.
  • 2 passport size colour photographs.
  • Photo Identity proof.
  • Address proof.
  • Income proof.
  • Bank statement (last 6 months)

Types of Mudra Loan

Micro Units Development and Refinance Agency (MUDRA) scheme is designed to help in the growth and development of MSMEs. There are three stages of PM MUDRA Yojana, made according to the requirement in stages of development in business. The three types of MUDRA scheme are as follows:

Shishu: Under this stage the applicant will get fund up to Rs.50, 000. This stage will offer to entrepreneurs who are in the initial stage of their business or require fewer amounts of funds in order to get their business started.

Kishor: Under this stage the applicant will get fund ranging from Rs. 50, 000 to Rs. 5 lakh. Kishor loan scheme can be availed by entrepreneurs who already running businesses and started it but they want additional funds for the business or simply the entrepreneurs who require loan for startup business.

Tarun: Under this stage the applicant will get funds ranging between Rs. 5 lakh to Rs.10 lakh. In this stage the entrepreneur have to require the eligibility criteria to apply for this loan. Also this is the maximum limit of amount that an entrepreneur could get who is applying for start-up business.

Benefits of MUDRA Scheme from UCO Bank

There are some benefits of this MUDRA scheme and they are as follows:

  • To provide help to the Lower Income Groups (LIGs) and neglected section of country in setting up and developing their business
  • To help the Small Scale and Micro enterprises grow and develop their enterprises
  • To help in creating easy access to finance for the unbanked and also help to lower the cost of finance

Bank of India Mudra Loan Application Form PDF Download

Article Bank of India Mudra Loan Application Form
No. of Pages 6
PDF Size 1.97 MB
Beneficiary Bank Customer
Language English
Official Site bankofindia.co.in
Bank of India Mudra Loan Application Form PDF Download PDF

Bank of India (BOI) Customer Care Helpline Number

Toll Free Number:                                                   1800 103 1906

RTGS             Rtgs.boi@bankofindia.co.in         (022) 67447092 / 93

NEFT            Boi.neft@bankofindia.co.in           (022) 61312984/61312992/61312997

IMPS            Boi.imps@bankofindia.co.in         (022) 61312994/61312995

UPI                                                                            (022) 67447025 

Address: C – 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

Conclusion

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