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| Central Bank of India Mudra Loan | |
| Interest Rate | 10.30% p.a. |
| Nature of Loan Facility | Term Loan/Working Capital |
| Loan Amount |
|
| Loan Tenure | Up to 7 years |
Rates as of 6th February 2025
Central Bank of India Mudra Loan Interest Rates
Central Bank of India offers Mudra Loans at an interest rate of 10.30% p.a.
Fees & Charges for Central Bank of India
Central Bank of India has not explicitly specified the fees and charges applicable on its Mudra loan scheme. Consumers interested in applying for this loan can connect with the bank for further details.
Types of Central Bank Mudra Loan schemes
Cent Mudra Loans
Purpose: Central Bank of India offers loans under Cent Mudra scheme to finance the loan applicants belonging to both manufacturing and service sectors with financial requirements of up to Rs 10 lakh.
Nature of Loan Facility: Term Loan/Working Capital
Loan Amount:
- Shishu- Rs. 50,000
- Kishor- Rs. 50,001 to Rs. 5,00,000
- Tarun- Rs. 5,00,001 to Rs. 10,00,000
- Tarun Plus- Rs. 10,00,001 to Rs. 20,00,000
Margin:
- Under Shishu Category: NIL
- Under Other Categories: Up to 25%
Tenure: Up to 7 years, including moratorium period of 6 months
Cent Weaver Mudra Loans (Finance for Individual Weaver)
Purpose: Central Bank of India offers Cent Weaver Mudra Loans to finance the credit requirements of individual weavers.
Nature of Loan Facility: Term Loan/Working Capital
Loan Amount: Rs 50,000-Rs 10 lakh
Margin: 25% of the project cost
Tenure: Up to 7 years
Eligibility Criteria for Central Bank of India Mudra Loan
For Cent Mudra Loan
- All non-corporate small and micro enterprises are eligible for these loans
- The enterprises should be engaged in non-farm income-generating activities such as manufacturing, trading and services including allied agricultural activities
For Cent Weaver Mudra Loan scheme
- Central Bank of India offers Cent Weaver Mudra Loan scheme to all weavers involved in weaving activities in the handloom sector.
- This scheme also includes new borrowers eligible for loans to carry out the proposed activity under bank’s scheme.
- Cent Weaver Mudra scheme prefers weavers identified under Third Census of handloom weavers conducted by Development Commissioner (Handlooms), Ministry of Textiles as well as those identified by the State Government.
Documents Required for availing Central Bank Mudra Loan scheme
Central Bank of India has not disclosed the documents required for availing Mudra loans. However, applicants may consider the following documents while applying for Mudra Loans with Central Bank of India.
- Photo ID Proof
- Address Proof
- Proof of category like SC/ST/OBC/Minority
- ID Proof and Address of Business Enterprise
- Bank statement for last 6 months
- Balance sheet of the units of last 2 years along with income tax or sales tax return etc. (Applicable for all cases from Rs.2 lakhs and above)
- Projected balance sheets of 1 year in case of working capital limits and for the loan duration in case of term loan (Applicable for all cases from Rs.2 lakhs and above)