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PRADHAN MANTRI MUDRA YOJANA
The Handloom Scheme aims at providing adequate and timely assistance
Disclaimer
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For setting up of New/upgrading existing micro business enterprises in the manufacturing, processing , trading and service sector and carrying out specified allied agriculture activities
Objective
To fund the unfunded and to bring the millions of units which are existing outside the formal banking fold and are unable to sustain or growth due to lack of finance or relying on informal channel which are expensive or unreliable.
Nature of Facility
Term Loan and/or working capital.
Quantum of loan
Maximum Rs. 10 lakhs
SECURITY
Primary
- Asset create out by Bank finance
- Personal guarantee of promoters/directors.
Collateral:
- Nil
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
Any Individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY Loans.
Margin
- Up to Rs.50000: Nil
- Above Rs.50000: Min: 15%
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
As prescribed by the Bank for Micro accounts and activities allied to agriculture from time to time.
Repayment Period
Max: 36 months for Demand Loan and 84 months for Term Loan including moratorium period.
Processing & other charges
As per Extent Guidelines of the Bank.
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
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