Punjab National Bank Mudra loan features
|Punjab National Bank Mudra Loan Feb 02 2023|
|Punjab National Bank Mudra Loan Amount||Max. up to Rs. 10 lakh|
|Punjab National 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|
Please Note: The above rates, fees, and charges are subject to change.
- Punjab National Bank Mudra Loan requires the least desk work and documentation
Quick, simple, and bother free endorsements and disbursals
There are moderate Interest Rates.
Punjab National 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.
Punjab National Bank Mudra loan types
Mudra Loans are classifications under three sorts which are referenced beneath with loan sum:
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.
The loan sum offered is between Rs 50,000 and Rs 5 lakh. To avail of this loan, the business must fill the loan application and should present proper business documents to showcase the business’s current status in the market.
The loan sum offered is between Rs 5 lakh and Rs 10 lakh. Small business owners who have a full-fledged running business and want to expand more can opt for this category of Mudra Loan.
About Punjab National Bank Mudra loan
Micro Unit Development and Refinance Agency Ltd (MUDRA) has been issued by Honorable Prime Minister on 8th April 2015 as another monetary element, for creating and renegotiating as last-mile budgetary middle people, similar to, Banks, NBFCs, Micro Financial Institution (MFI), and so forth who are in the matter of loaning to even the littlest of the Micro Enterprises in assembling, exchanging and administration area. The meaning of miniature unit for the reasons for MUDRA’s exercises ought not to be connected with MSME or some other Act. This section fundamentally comprises of Non-Farm Enterprises in assembling; exchanging and benefits whose credit needs are up-to Rs.10Lakh.
Punjab National Bank Mudra Loan Eligibility Criteria
The borrower ought not to have defaulted on installments with any bank or money related organization. Private restricted organizations, Sole Proprietorships, Partnership Firm, Limited Liability Partnership (LLP), and Individuals are qualified for PNB Mudra Loan.
The business for which the credit is required must be in salary creating areas in administration, assembling, or exchanging areas. In addition, organizations in agribusiness unified exercises, for example, fish cultivating, agriclinics, etc are likewise qualified for PNB Mudra Loan.
Punjab National Bank Mudra loan documents required
Basic Documents required across Mudra schemes are:
- Identity Proof- Passport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence, Photo Credit Card, Central and State Govt. issued Photo ID Proof, Defence ID Card, etc.
- Residence / Business Proof- Aadhaar Card, Ration Card, Passport, Bank Account Statement, Voter’s ID Card, Letter from any recognized public authority, Telephone Bill, Electricity Bill, Water Bill (not more than 3 months old), etc.
- Applicant’s recent 2 passport-sized photographs
- Proof of the minority, if applicable
- Statement of account of last 6 months
- Quotation of machinery, to be purchased
Additional Documents required for Tarun and Kishore schemes
- Unaudited balance sheets of the last 2 years
- Income tax and sales tax returns
- Projected balance sheet for the loan tenure
- Details of the sales achieved till the submission of the application form
- Memorandum of Association (MOA), Articles of Association, & Partnership Deed, if any
- Invoices/Quotations of civil work required, assets to be purchased, etc.
- Asset and liability statement
Punjab National 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 Punjab National Bank Mudra Loan?
- Visit Dialabank.
- Go to the loan section and click on the Mudra loan link.
- Check the eligibility criteria for Pradhan Mantri Mudra Yojana offered by Punjab National Bank and fill a user-friendly online application form for Mudra Loan.
- One of our relationship managers will soon get in touch with you for further process
- For more information and free guidance, you may call on +919878981166.
Punjab National Bank Mudra Loan Agent and Contact Number
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.
Punjab National Bank Mudra Loan FAQs
✅ What is the interest rate Punjab National 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 Punjab National Bank Pradhan Mantri Mudra Yojana scheme?
Presently there are no subsidies available on the PMMY scheme.
✅ Is there any security needed for the Punjab National 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 Punjab National Bank Pradhan Mantri Mudra Yojana scheme?
Loans under the PMMY scheme are unsecured; therefore, no form of security is required.
Table of Contents
- 1 Punjab National Bank Mudra loan features
- 2 Punjab National Bank Mudra loan Purpose
- 3 Punjab National Bank Mudra loan types
- 4 About Punjab National Bank Mudra loan
- 5 Punjab National Bank Mudra Loan Eligibility Criteria
- 6 Punjab National Bank Mudra loan documents required
- 7 Punjab National Bank Mudra Card
- 8 How to Apply for Punjab National Bank Mudra Loan?
- 9 Punjab National Bank Mudra Loan Agent and Contact Number
- 10 Punjab National Bank Mudra Loan FAQs