MUDRA loans are offered by financial institutions to support micro and small businesses. If you are wondering what is the repayment period in mudra loan, I think I can help you out. The repayment period for MUDRA loans can vary depending on the category of the loan and the financial institution providing the loan.
Mudra loan repayment period
Here are the general repayment periods for different types of MUDRA loans:
- Shishu Loans:
Shishu loans are meant for small businesses in their early stages. The repayment period for Shishu loans is usually up to 7 years. This allows borrowers to have a longer period to repay the loan and establish their business before facing the pressure of higher repayments.
- Kishor Loans:
Kishor loans are for businesses that have expanded and require a higher loan amount. The repayment period for Kishor loans can range from 5 to 7 years. This provides borrowers with a moderate timeframe to repay the loan, considering the increased loan amount and potential growth of the business.
- Tarun Loans:
Tarun loans are for well-established businesses that require a larger loan amount for expansion or diversification. The repayment period for Tarun loans can extend up to 3-5 years. This longer repayment period allows borrowers to comfortably repay the loan while managing the growth and development of their business.
The repayment period for MUDRA loans can vary among different financial institutions, and it is ultimately determined by the terms and conditions set by the lending institution. Additionally, borrowers should keep in mind that the repayment period can also be influenced by factors such as the loan amount, interest rate, and the borrower's creditworthiness.
To get accurate and up-to-date information on the specific repayment period for MUDRA loans, I would suggest you contact the financial institution directly or visit their official website. They will be able to provide detailed information regarding the repayment terms and conditions for MUDRA loans and you will be able to better understand what is the repayment period in mudra loan.
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What is the Repayment Period in Mudra Loan?
Rehan
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2 Year
2023-05-22T21:06:23+00:00 2023-05-22T21:10:39+00:00Comment
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