Banks are charging different interest rates on MUDRA loan. We are planning to provide you interest rates details of all banks. As you aware that the MUDRA is a collateral free loan and because of collateral free banks are not showing too much interest in MUDRA schemes. Check banks interest rate before submitting papers because all banks have different policy & charges.
Please do not pay money for MUDRA Loan & if banks are demanding something, delaying your application or harassing.
Bank of Baroda Interest rate..
Rate of Interest:
|Limits||Micro Enterprises||Small Enterprises|
|Up to Rs.50000/-||Base Rate||Base Rate+0.50%|
|Above Rs.50000/- to Rs.2.00 lacs||Base Rate+0.50%||Base Rate+1.00%|
|Above Rs.2.00 lacs to Rs.10.00 lacs||Base Rate+1.00%||Base Rate+1.25%|
Processing Charges: Nil
- Assets created out of the Bank’s finance.
- No collateral security.