Micro Units Development and Refinance Agency (MUDRA) is a Non-Banking Financial Company (NBFC) that supports and promotes the development of micro enterprise sector. HDFC bank being one of the leading private banks that provides banking services, also offers Mudra loans for non-corporate, non-farm small/micro enterprises.
Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched to promote the development and growth of micro enterprises. Pradhan Mantri MUDRA Yojana (PMMY) offered by HDFC is introduced to meet the requirements of various business segments and entrepreneurs.
|Mudra Loan from HDFC Bank 2020|
|Loan Amount||Max. up to Rs. 10 lakh|
|Interest Rate||Based on the applicant’s profile|
|Loan Amount: Shishu scheme||Up to Rs. 50,000|
|Loan Amount: Kishore scheme||Between Rs. 50,000 and Rs. 5 lakh|
|Loan Amount: Tarun scheme||Between Rs. 5 lakh and Rs. 10 lakh|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
HDFC Mudra Loan offers very low-interest rates compared to other private sector banks offering loans under the Pradhan Mantri Mudra Yojana scheme. This attracts many healthy micro enterprises looking for loans towards HDFC Mudra Loan. The credit offered to micro enterprises under this scheme is expected to shoot up in this financial year.