Bank of Baroda’s PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of government of India, changed into released on 8th April, 2015 by using the Hon’ble prime Minister to “fund the unfunded” by bringing such organizations to the formal financial device and increasing inexpensive credit score to them.
Any form of Fund based or Non Fund based totally facility.
No minimum amount under mudra bank loan scheme. Maximum amount is – Rs.10.
Categorization of MUDRA Loans
SHISHU : Loans sanctioned below the scheme up to Rs.50000
KISHORE : Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
TARUN : Loans sanctioned beneath the scheme from Rs.5,00,001 to Rs.10.00 lacs
Security Deposit Under Mudra Bank Scheme.
property created out of the bank’s finance.
No collateral security.
Eligibility require with the aid of bank of Baroda
All “Non farm businesses”
underneath “Micro enterprises” and “Small establishments” segment
engaged in “profits producing activities”
engaged in “production, trading and offerings“ and
whose “credit score wishes are up to Rs.10.00 lacs”
Now allied agriculture activities have also been protected underneath PMMY scheme w.e.f. 01.04.2016.
hobby price of financial institution of Baroda for Mudra mortgage.
Limits Micro enterprises Small organisations
as much as Rs.50000/- MCLR+SP (MCLR+SP)+0.50%
Above Rs.50000/- to Rs.2.00 lacs (MCLR+SP)+0.50% (MCLR+SP)+zero.70%
Above Rs.2.00 lacs to Rs.10.00 lacs (MCLR+SP)+0.70% (MCLR+SP)+zero.eighty five%
Processing charges : Nil