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Saraswat Bank Mudra Loan

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Saraswat Bank offers Mudra loan facility @ 11.75% p.a. onwards of up to Rs 10 lakh to micro enterprises that are engaged in trading, services, manufacturing and other income generating activities. Prospective applicants can avail Saraswat Bank Mudra Loan in the form of term loan and/or working capital loan facility. The lender also offers interest concession of 10 bps to its women borrowers.

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Updated: 16-05-2024 06:37:56 AM

Saraswat Bank Mudra Loan Highlights 2024
Interest Rate 11.75% p.a.
Loan Amount
  • Shishu: Loans up to Rs 50,000
  • Kishore: Loans from Rs 50,001 to Rs 5 lakh
  • Tarun: Loans from Rs 5 lakh to Rs 10 lakh
Loan Tenure
  • Shishu: Up to 3 years (including 1 year moratorium)
  • Kishore: Up to 5 years (including 1 year moratorium)
  • Tarun: Up to 5 years (including 1 year moratorium)
Security
  • Primary: Charge on fixed/current assets
  • Collateral: Nil. To be covered under CGTSME
LTV
  • Working capital: 20% of the net turnover
  • TL: 4 times the average gross cash accruals or 80% of the agreement value of new asset

Note: Data as of 15th April 2024

Saraswat Bank Mudra Loan Interest Rates

Saraswat Bank offers Mudra Loans at interest rates of 11.75% p.a. The lender offers concessions of 10 bps on its Mudra loan interest rates for women entrepreneurs.

Fees and Charges for Saraswat Bank Mudra Loan

The fees and charges for Saraswat Bank Mudra loan schemes are as follows:

Particulars Rates
Processing Fees
  • Shishu: Nil
  • Kishore: Nil
  • Tarun: Rs 5,000
Renewal Fees
  • Shishu: Nil
  • Kishore: Nil
  • Tarun: Rs 500

Saraswat Bank Mudra Loan Eligibility Criteria

Micro enterprises engaged in trading, services, manufacturing and other income generating activities can avail Saraswat Bank Mudra Loans.

Documents required for Saraswat Bank Mudra Loan

Saraswat Bank has not specified the documentation for its Mudra Loan scheme. However, lenders offering Mudra loans usually require the income proof, identity proof, proof of business/residential address and business continuity of their Mudra loan applicants.

 

 

 

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