Bank of Maharashtra is one of the leading commercial banks in India that offers a wide range of banking and financial services. Besides banking products and services, the Bank of Maharashtra also specialises in providing the Mudra loan scheme under Pradhan Mantri Mudra Yojana (PMMY) initiated by the Government of India. Mudra Loan offered by Bank of Maharashtra starts at an interest of 8.15% p.a. onwards + BSS.
Download application form along with checklist by clicking here for Shishu Scheme
Download application form along with checklist by clicking here for Kishore and Tarun Scheme
Micro Units Development and Refinance Agency (MUDRA) loan scheme is offered to non-farm units engaged in services, trading and manufacturing sectors and the maximum loan amount that can be availed under this scheme is Rs. 10 lakh.
Mudra Scheme is classified under three main categories named as Shishu, Kishore and Tarun. Below mentioned is the loan amount offered under these three categories, as well as their usage.
| MUDRA Loan – Features | |||
|---|---|---|---|
| Category | Shishu | Kishor | Tarun |
| Loan Amount | Rs. 50,000 | From Rs. 50000 – Rs. 5 lakh | From Rs. 5 lakh – Rs. 10 lakh |
| Usage | For Startup Enterprises | For entrepreneurs with existing businesses | For Businessmen, amount to be used for business expansion |
| Collateral/Third Party Guarantee | Not required | ||
| Repayment Tenure | Maximum up to 5 years | ||
