Union Bank e-Mudra Loan Online Apply: Union Bank of India is providing Mudra loans to their customers from 50000 rupees to 10 lakhs. If you want to get a loan to increase your business or set up a new business then you can check the latest feature of Union Bank of India Mudra loan scheme 2024. The bank is providing an online application procedure to provide a Mudra loan. Today we are providing you with a step-by-step procedure for Union Bank e-Mudra Loan Online apply for a maximum of 10 lakh. Check the Union Bank e-Mudra Loan Online apply eligibility criteria, documentation procedure, interest rates, and other features of the Union Bank e-Mudra Loan in this article.
Central Government Mudra loan is a very beneficial feature for Indian youths who wish to start a new business. The entrepreneurs will get financial assistance from the Union Bank of India by following the guidelines of the Government of India. The Mudra loan scheme is divided into 3 categories including Shishu Mudra loan Kishore Mudra loan and Tarun Mudra loan for the maximum amount of 50000 rupees, 500000 rupees, and 10 lakh rupees respectively.
Features of Union Bank e-Mudra Loan Online Apply
- The bank has a special feature of digital Shishu Mudra loan STP where applicants can apply online mode instantly and will get instant approval from the bank without visiting the branch.
- Interest rates will be calculated according to the latest criteria of the Union Bank of India accordingly.
- If you apply for a Shishu Mudra loan then you will get a maximum of 36 month tenure to return the payment and if anyone apply for 10 lakh Mudra loan then he will get a maximum of 84 months tenure of EMI from the bank.
- The bank will follow Aadhar based OTP system for verification which will reduce the processing period and will provide the loan amount instantly
Eligibility to apply for Mudra loan in Union Bank of India
- Applicant should have an existing bank account in Union Bank of India and the time of applying online or offline.
- Age of the applicant should be between 21 years to 65 years
- If you apply for more than 50000 rupees in Mudra loan then you should provide udyam portal registration details.
- The business should be linked with any bank or Union Bank of India for at least six months. however, if you apply for a Shishu Mudra loan then you need not compile this eligibility.
- A personal guarantee is required for Kishore and Tarun Mudra loans.
- Processing fees will be more than 950 + GST
Important documents for Union Bank e-Mudra Loan Online apply
- Aadhar card
- pan card
- The mobile number should be linked with the Aadhar Card, PAN card, and bank account
- Business-related documents including udyam registration number etc.
- GST registration details
- Business assets documents for more than 50000 rupees
- Address proof of the applicant
- Bank statement
Union Bank e-Mudra Loan Online apply 2024
You can apply for a Mudra loan according to your need in Union Bank of India from Rs 50000 to 10 lakh rupees. Follow this procedure which will help you to apply without any mistakes:
- Visit the official website of Union Bank of India, this is that directly of the official website https://www.unionbankofindia.co.in/
- Now you will reach the new portal where you have to select Mudra loan under the product section.
- After that, you will see all the features of a Mudra loan which are available in Union Bank of India where you can click on the link to apply for a Mudra loan or apply for a Kishore and Tarun loans accordingly.
- Now you can see the application form on your screen where you have to select a new application
- Enter your savings account number in Union Bank of India and date of birth after death system will identify your information and send OTP on your registered mobile number with the bank
- After that your information will automatically appear on the screen and you have to provide Aadhar Card details for Aadhar authentication
- Now select the loan amount which you want to get and select the EMI option for repayment
Once you have submitted all the information click on the final submit link and your application will be sent to the review. If you have entered the correct information and there is no efficiency in your application form then you will get an instant Mudra loan within 5 to 7 minutes from the bank.