As far as I know, the MUDRA loan interest rate starts at 9.30% per annum, and their repayment term ranges from 1 to 7 years. Now, it may further vary based on the loan amount, tenure, credit score of the borrower and other factors. The processing fee is also not the same for all, so you better visit their branch or website to know more details about it.
What is the Interest for Mudra Loan?
The current MUDRA loan interest rate is 9.30% p.a. onwards. As for its features, here are the major ones:
There is no need for a security deposit
The loan categories include Shishu, Kishore and Tarun
There is no minimum limit to avail a MUDRA loan but the maximum amount is up to Rs 10 lakh
Repayment tenure is between 1 and 5 years, but it can be extended in certain cases
No foreclosure charges
Concessional interest rates are provided to women entrepreneurs
As for documents, you will need to submit:
Identity and address proof
Proof of business
Bank statements
Balance sheets of the last 2 years and others
Based on your loan type, this list might also vary so it\'s better you clarify these by visiting their branch or official website.
Avail a Personal Loan of Up to Rs 10 Lakhs via NB InstaCash
Read More:
From where to get personal loan fast?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
What is Mudra Loan Interest Rate?
Ruhan
97 Views
1
9 months
2025-02-28T08:41:47+00:00 2025-02-28T08:41:47+00:00Comment
Share