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can I get mudra loan without guarantee?
23-Jul-2023 (In Banking / Finance Law)
Sir can I get mudra lone without any guarantee for business. and what are the requirements for that. I am from up and I am in uttrakhan from last five years. but I don't have local ID or local rent agreement. so kindly suggest me what can I do for loan?
Loan is provided currently under three schemes in Prdhan Mnatri MUDRA Yojana. The three schemes are as following:
Shishu: Loan of upto Rs.50,000/=
Kishor: Loans of above Rs.50,000 to Rs.5 lakhs.
Tarun: Loans of above Rs.5 lakhs to Rs.10 lakhs.
Any Indian Citizen who has a business plan for a non-farm sector ,activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY).
The terms and conditions of the lendor would have to be followed for availing of loans under MUDRA. The lending rates are as per the RBI guidelines issued in this regard from time to time. Since, MUDRA is a refinancing institution, loans are not offered directly by MUDRA but through existing NBFCs, Financial Institutions, Banks.
One Proof of Identity of the applicant should be submitted, It should be self-attested.
The proof of identity could be the
Voter ID card
Photo ID issued by Govt. authority
driving license
PAN card
Aadhar card
Passport etc.
and you have to arrange for the local rent agreement or local refernce for the safer side and easy process to pass the loan.
Shishu: Loan of upto Rs.50,000/=
Kishor: Loans of above Rs.50,000 to Rs.5 lakhs.
Tarun: Loans of above Rs.5 lakhs to Rs.10 lakhs.
Any Indian Citizen who has a business plan for a non-farm sector ,activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY).
The terms and conditions of the lendor would have to be followed for availing of loans under MUDRA. The lending rates are as per the RBI guidelines issued in this regard from time to time. Since, MUDRA is a refinancing institution, loans are not offered directly by MUDRA but through existing NBFCs, Financial Institutions, Banks.
One Proof of Identity of the applicant should be submitted, It should be self-attested.
The proof of identity could be the
Voter ID card
Photo ID issued by Govt. authority
driving license
PAN card
Aadhar card
Passport etc.
and you have to arrange for the local rent agreement or local refernce for the safer side and easy process to pass the loan.
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Adv. Mahideep Singh
Dehradun | 25+ Answers
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