Indian Bank Mudra Loan 2024: The Indian Bank is assisting their customers who want to start a new business with the Central Government sponsored scheme of Mudra Loan 2024. Indian Bank Mudra loan scheme is very beneficial for those who want to get instant loans to start a new business. However the bank is providing 10 lakh under the Indian Bank Mudra loan scheme 2024, but if you want to get an instant loan within a few minutes then can get up to a 1 lakh Mudra loan where you can also apply online mode. So applicants can check eligibility criteria, documentation, EMI, monthly interest rates, and other details of the Indian Bank Mudra Loan Scheme 2024.
Indian Bank Mudra loan is available for the existing customers of Indian bank and new customers also. The loan is available in 3 categories including Shishu Mudra loan, Kishore Mudra loan, and Tarun Mudra loan. However, the range of the Indian Bank Mudra loan scheme is between 50000 rupees to 10 lakh which is provided according to the needs of the customer. One of the major benefits of the Indian Bank Shishu Mudra loan scheme is, that you can apply for a Mudra loan with a CIBIL score of only one.
Features of Indian Bank Mudra Loan 2024
- Customers can apply for a Shishu Mudra loan for up to 50000 rupees online mode, however, the Kishore Mudra loan ranges between 50000 rupees to 5 lakh rupees and a Tarun Mudra loan of a maximum of 10 lacks is available for customers through offline mode.
- Customers can prepare the EMI for the next 2 to 5 years according to the loan amount and their category.
- The Bank will charge minimum interest rates where 4.40% interest rates will be added to the RBI Repo rates for Indian Bank. So you have to pay approximately 12 to 13% interest annually
- Apart from this, you have to pay the processing fees and GST on the loan amount which you will get in the bank account, documentation charges, service charges, and other additional charges will not be charged by the bank.
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Indian Bank Mudra Loan 2024 Eligibility
- Only Indian citizens can apply for an Indian Bank Mudra loan either if they are existing customers or new customers of the bank.
- The age of the applicant should be 18 years to 60 years at the time of applying for a Mudra loan in the bank.
- Any individual either getting a salary from a private company or a self-employed person can apply for a Mudra loan, however, employees of centers in the state government are not eligible to get a Mudra loan.
- The applicant should have at least 12 months old bank account in the Indian Bank.
- The business of the application should be registered with the government
Documents for Indian Bank Mudra Loan 2024
The following documents will be submitted through online mode at the time of applying for Indian Bank Shishu Mudra loan scheme 2024:
- PAN card
- Aadhar card
- The registration certificate of the Udyam portal of the Government of India
- Email ID
- The mobile number of the customer should be linked with the bank account of an Indian bank and Aadhar Card and PAN card also so you will get OTP for verification on this number.
The online application procedure for Indian Bank Mudra Loan 2024
- Visit the official website of the Indian Bank.
- After that, you will reach the dashboard where you have to search the MSME loan section under the product and loan product section.
- Now you will be redirected to the new page where you can see all the loans for business including the Shishu Mudra loan in Indian Bank.
- You can read all the terms and conditions on this page and click on the apply for Mudra loan link on the page.
- After this, you have to enter your bank account number in Indian Bank on this page where you will receive the OTP on the mobile number which is linked with the bank account
Once you have verified your information, you can directly select the loan amount and after that prepare the EMI for repayment. After this, you will receive the loan amount in your bank account after getting approval from the bank.
