Guarantee/Safety Not Required!There is no fixed minimum loan amount.The maximum loan amount is up to ₹ 10 lakh.The payment term ranges from 12 months to 5 years.
This loan is for those whose business has already started but not yet established. The loan amount given under this is Rs.50,000. 5 lakh to Rs. takes place in between.
*= Youth Loan:-
This is for those people whose business has been established and needs money to increase it, in this the loan amount is 5 lakhs. 10 lakh to Rs. is in between.
*= Required Documents:-
Application Form
Passport Size Photographs, KYC Documents, Proof of Identity, Proof of Residence, Proof of SC, ST, OBC, Minority, etc, Proof of Business Address and Tenure,
*= Mudra Loans can be availed mainly by shopkeepers, traders, vendors, and MSMEs working in manufacturing, trading and service sectors.
*= Mudra Yojana comes under the credit guarantee schemes of the Government of India!
*= Loan amount can also be used for term loan and overdraft service.