Kotak Mahindra Bank Mudra Loan

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Kotak Mahindra Bank Mudra loan features

Kotak Mahindra Bank Mudra Loan 2020
Kotak Mahindra Bank Mudra Loan Amount Max. up to Rs. 10 lakh
Kotak Mahindra Bank Mudra Loan Interest Rate 8.05%
Mudra Loan Amount: Shishu scheme Up to Rs. 50,000
Mudra Loan Amount: Kishore scheme Between Rs. 50,000 and Rs. 5 lakh
Mudra Loan Amount: Tarun scheme Between Rs. 5 lakh and Rs. 10 lakh
  • Kotak Mahindra Bank PMMY Mudra Loan requires the least desk work and documentation
  • Quick, simple, and bother free endorsements and disbursals

  • There are moderate Interest Rates.

  • The credit is effectively and rapidly available.

  • The PMMY plan will cover the overdraft office reached out to all qualified PMJDY recipients.

Kotak Mahindra Bank Mudra loan Purpose

  • Transport Vehicle: Purchase of transport vehicles for transportation of merchandise and travelers, for example, auto-carts, little products transport vehicles, 3 wheelers, e-carts, taxis, and so forth Farm vehicles/Tractor Trolleys/Power Tillers utilized uniquely for business intentions are likewise qualified for help under PMMY. Bikes utilized for business objects are additionally qualified for inclusion under PMMY.
  • Network, Social and Personal Service Activities: Salons, salons, gym, boutiques, fitting shops, cleaning, cycle, and cruiser fix shops, DTP and Photocopying Facilities, Medicine Shops, Courier Agents, and so on.
  • Food Products Sector: Papad making, achaar making, jam/jam making, horticultural produce safeguarding at the country level, sweet shops, little help food slows down and everyday cooking/flask administrations, cold chain vehicles, cold stockpiles, ice-production units, frozen yogurt making units, scone, bread and bun making, and so on
  • Textile Products Sector / Activity: Handloom, power loom, khadi movement, chikan work, zari and zardozi work, customary weaving and handwork, conventional coloring and printing, clothing configuration, sewing, cotton ginning, mechanized weaving, sewing, and other material non-piece of clothing items, for example, packs, vehicle embellishments, outfitting adornments, and so forth.

Kotak Mahindra Bank Mudra loan types

Mudra Loans are classifications under three sorts which are referenced beneath with loan sum:

Shishu Yojana

 The loan sum offered is up to Rs 50,000. This scheme is specifically customized for those who need a small capital to set-up their new business. To avail of this loan, the applicants have to present their business ideas.

Kishore Yojana

 The loan sum offered is between Rs 50,000 and Rs 5 lakh. To benefit from this loan, the business must fill the loan application and should introduce legitimate business archives to exhibit the business’ present status in the market. 

Tarun Yojana

 The loan sum offered is between Rs 5 lakh and Rs 10 lakh. Small business owners who have a full-fledged running business and need to grow more can pick this classification of Mudra Loan.

About Kotak Mahindra Bank Mudra loan

Kotak Mahindra Bank PMMY Mudra LoanMudra Loan which alludes to Micro Units Development and Refinance Agency Ltd. goes under the Pradhan Mantri Mudra Yojana conspire (PMMY). The PMMY was dispatched in the year 2015 by the Prime Minister of India. Kotak Mahindra Bank is one of the main banks and in this manner, it gladly offers Mudra credits among different administrations.

The advance encourages miniature credit to little scope businesses going from Rs. 50,000 to Rs. 10 lakhs. Kotak Mahindra Bank PMMY Mudra Loan is offered at a low financing cost when contrasted with other private area banks.

Kotak Mahindra Bank Mudra Loan Eligibility Criteria

The MUDRA scheme has certain qualification models and will be given to the individuals who fall under this qualification. The qualification standards for MUDRA credit in Kotak Mahindra bank will be as per the following:

  • Small manufacturing units.
  • Textile sector activities that incorporate The Artisans who need to build up, to grow, or to begin a business in sewing work, weaving, and so forth.
  • Service area activities, for example, Chemist, cleaning, salon, boutique, photocopying office, and so on.
  • Food area activities, including selling vegetables and natural products, setting up a business or buying hardware for the creation of bread, and so forth.
  • Transport area activities like the acquisition of vehicles for the carriage of travelers or merchandise. Vehicles like Small products transport vehicles, e-cart, taxi, auto-rickshaw, and so forth.
  • Horticulture area activities to build up; to begin or to grow an agribusiness business, for example, a dairy ranch, apiary, a poultry ranch, a domesticated animal ranch, and so forth.

Kotak Mahindra Bank Mudra loan documents required

The documents will be needed to verify and after verification, the bank will provide you with a MUDRA loan. So the documents required for submitting in the bank to avail for MUDRA loan is as follows:

  • 2 passport size photographs of the applicant
  • Address proof
  • Business Vintage proof
  • Business identity proof
  • Identity proof like Aadhaar cardPAN card
  • Business address proof
  • Proof of continuity of business
  • Income tax returns of 2 years
  • Business registration certificate
  • Details regarding the names of suppliers and machinery, also mention the vendor’s name and quotation will be required for the machinery which are to be bought.
  • KYC documents
  • Last 6 months’ income statement

Kotak Mahindra Bank Mudra Card

A Mudra card is a debit card that is issued against the loan taken under the PMMY account.

MUDRA Card can be used in multiple withdrawals and credits to manage the working capital limit in a cost-efficient manner at the same time keeping the interest burden to a minimum.

A MUDRA Card can be operated across the country for withdrawal of cash from any ATM/micro ATM and also make payment through any ‘Point of Sale’ machines.

How to Apply for Kotak Mahindra Bank Mudra Loan?

  1. Visit Dialabank.
  2. Go to the loan section and click on the Mudra loan link.
  3. Check the eligibility criteria for Pradhan Mantri Mudra Yojana offered by Kotak Mahindra Bank and fill a user-friendly online application form for Mudra Loan.
  4. One of our relationship managers will soon get in touch with you for further process
  5. For more information and free guidance, you may call on +919878981166.

Kotak Mahindra Bank Mudra Loan Agent and Contact Number

Dialabank is the primary authority for benefitting the Kotak Mahindra Bank’s Mudra Loan. You can apply online at Dialabank or give a call at +919878981166

Dialabank makes you find the best option of Banks and NBFCs by outfitting you with an ordered market assessment of different banks so you can make the right choice.

Kotak Mahindra Bank Mudra Loan FAQs

✅ What is the interest rate Kotak Mahindra Bank Pradhan Mantri Mudra Yojana scheme?

The interest rates charged on the PMMY scheme is 8.05% and but also vary on the credit history of the borrower.

✅ Is there any subsidy for the Kotak Mahindra Bank Pradhan Mantri Mudra Yojana scheme?

Presently there are no subsidies available on the PMMY scheme.

✅ Is there any security needed for the Kotak Mahindra Bank Pradhan Mantri Mudra Yojana scheme?

Loans under the PMMY scheme are unsecured in nature; thus, the borrower does not need to keep anything as collateral or security with the lender.

✅ Is a guarantor required for the Kotak Mahindra Bank Pradhan Mantri Mudra Yojana scheme?

Loans under the PMMY scheme are unsecured; therefore, no form of security is required.