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PNB MUDRA Scheme Highlights |
|
| Interest Rate | 9.40% p.a. |
| Facility | Term Loan & Working Capital |
| Loan Amount |
|
| Loan Tenure | Up to 7 years |
Rates as of 17th October 2024
PNB Mudra Loan Interest Rates
| Loan Amount | Interest Rate (p.a.) |
| Up to Rs 50,000 | 9.40% |
| Above Rs 50,000- Rs 10 lakh | 10.65% |
Types of PNB MUDRA Schemes
PNB e-MUDRA (SHISHU) Scheme
Purpose: PNB e-MUDRA (SHISHU) Scheme is offered in the form of working capital term loan facility offered to non-farm enterprises involved in manufacturing, trading and service activities.
Loan Amount: Up to Rs 50,000
Tenure: Up to 7 years
Security:
- Primary- Hypothecation of assets created out of Bank’s finance
- Collateral- Guarantee Coverage under CGFMU shall be obtained
PNB WMS (Weaver MUDRA Scheme)
Purpose: Punjab National Bank offers PNB Weaver MUDRA Scheme to meet the working capital requirements of handloom weavers. The lender also issues Mudra Card (RuPay card) under this scheme having a limit of up to Rs 50,000.
Loan Amount: Up to Rs 5 lakh
Margin: 20% of loan for loan amount up to Rs 10,000, by the Union Ministry of Textiles
CGTMSE Fees:
- For loans up to Rs 50,000- 0.25% of loan amount for 3 years
- For loans above Rs 50,000 and up to Rs 5 lakh- for 3 years
Punjab National Bank MUDRA Loan Eligibility Criteria
Individuals, proprietary concerns, partnership firms, association of persons (AOP), limited liability partnership (LLP) and company are eligible for MUDRA Loan scheme from PNB. The eligible applicant should not be a defaulter to any bank/financial institution. The lender also offers PNB Weaver MUDRA Scheme to handloom weavers having a satisfactory CIBIL score.
Punjab National Bank MUDRA Loan Documents Required
PNB e-MUDRA (SHISHU) Scheme
- Identity Proof- Aadhaar card, Voter ID, Passport, PAN Card, Driving License and photo IDs issued by government authorities.
- Address Proof- Voter ID, Passport, Aadhaar card, telephone bills, electricity bills, receipt of property tax, passport of individual/partners/proprietors, certificate issued by government authority/municipality/local panchayat.
- Recent photograph (not older than 6 months)
- ID proof and address proof of business enterprise
- Account statement from existing banker for last 6 months
- Proof of Minority/ST/SC/OBC, if applicable
- Quotation of machinery or other items to be purchased
PNB Kishore and Tarun MUDRA scheme
- Identity proof- Aadhaar card, PAN card, voter ID, driving license, passport and photo IDs issues by the government authority
- Address Proof- Utility bills (telephone bills, electricity bills, property tax receipt not more than 2 months old), voter ID, Aadhaar card, passport of individuals/proprietors/partners and certificate issued by Local Panchayat/Municipality/Government authority.
- Two photographs of applicant/Proprietor/ Partners/ Directors not older than 6 months.
- Identity proof and address proof of business enterprise- copies of relevant licenses, lease or rent agreement, registration certificates, other documents pertaining to ownership, address proof of business unit or Udyog Aadhaar Memorandum.
- Unaudited balance sheets of existing units for last 2 years along with income tax or sales tax returns (applicable for loan amount of Rs 2 lakh and above)
- Account statement for last 6 months from existing banker.
- Sales of current financial year up to date of submission of application.
- Projected balance sheets of start-ups or existing units for 1 year (in case of working capital) and for the entire loan tenure (in case of term loan)
- Memorandum and Articles of Association of the company/partnership deed of partners, etc.
- Asset and liability statement of the borrower including directors and partners