MUDRA (Micro Units Development and Refinance Agency) loan is a scheme initiated by Government of India under Pradhan Mantri Mudra Yojana (PMMY) to offer various loans to customers nationwide. The Axis Bank Mudra Loan was introduced by the bank to meet the government’s mandate asking banks to provide loan up to Rs. 10 lakh to Micro, Small & Medium Enterprises (MSMEs) whereas Rs. 50 lakh under Business Loan category. Under Mudra scheme, customers can seek a loan to establish or develop businesses that are not corporate or farm based.
|Axis Bank Mudra Loan 2020|
|Interest Rate||Depends on the applicant’s profile|
|Minimum Loan Amount||Rs. 50,000 (Under Mudra Loan Scheme)|
|Maximum Loan Amount||Up to Rs. 50 lakh|
|Collateral / Security||Not required|
|Age Criteria||Min. 21 years & Max. 65 years|
|Repayment tenure||Max. up to 5 Years|