Fulfill your Financial Needs
Acquire a business loan at such low interest rates and without any collateral or security.
Are you ready to take your business to greater heights? Apply for business loans online at low-interest rates through My Mudra. Do apply now!
For business owners looking to start or expand their enterprises, online business loans are critical. My Mudra's financial services have undergone continuous innovation to satisfy the demands of entrepreneurs seeking capital. The purpose of the business loan is to businesses acquire the finance they need.The instant business loan may be utilised to cover all of your company's needs, it's the finest lending option for a startup. Apply business loans online for an attractive and affordable interest rate ensures you won't have to cut back on expenses.
Obtaining a business loan from My Mudra is simple and straightforward with affordable interest rates and flexible repayment choices. It doesn’t matter if you're a small business or an established institution, My Mudra Business Loan is accessible to everyone. Our online application makes it easy to obtain the cash you require quickly.
| Amount | Up to 1 Crore |
|---|---|
| Loan Tenure | 4 to 5 Years |
| Low- Interest Rates | Starting from 10%*p.a. |
| Eligibility Criteria | 21- 65 Years |
| Loan Disbursal | Loan Disbursal in just 3-4 Business Days. |
Acquire a business loan at such low interest rates and without any collateral or security.
Obtain a business loan in few hours.
You can repay your loan over period of 18-48 months.
My Mudra will assign a financial advisor to a customer which makes the overall process more efficient.
Keep your savings intact by not using them for repayment. Enjoy tax benefits.
| Age Requirement | Borrower should be aged between 25 and 65. |
|---|---|
| Eligible Entities | Customer’s operating for themselves, private limited companies, and partnership firms involved in manufacturing. |
| Revenue Requirement | The company should make at least ₹40 lakhs in revenue. |
| Experience Criteria | Those with a minimum of three years experience in the current industry and a total of five years experience in the business. |
| Profitable | Those whose company has made money throughout the preceding two years |
| Minimum Total Requirement (MTR) | The business's Minimum Total Revenue (MTR) must be ₹1.5 lakhs. |
Aadhar Card PAN Card Photo GST Registration Business Proof Income Proof Financial details of the company. Proof of address & photo identity.Note : Documents should be valid and authorised.
Register with your mobile number
Submit loan information.
Add the information about the company.
Get a verification message from us.
Our Financial Advisors will contact you for further procedures.
Obtain your loan.
| Loan Processing Fees | Loan processing fees range from 0.5 percent to 4% of the loan amount. |
|---|---|
| Pre-Payment Charges | Pre-Payment Charges - For Floating Rate: NIL-For Fixed Rate: Usually around 2% - 5% on the principal amount |
| Stamp Duty Charges | As per actuals. |
| Legal Fees | Legal Fees - As per actuals. |
On a specific date, the borrower makes an instalment payment to a lender. The EMI amount remains constant throughout the loan term.
Foreclosure means a method of paying off the entire unpaid loan amount before the due date comes around. A personal loan typically has a lock-in term after which you can opt to foreclose the remaining debt and repay the total loan amount. However, we normally suggest you to foreclose your debt when you have some extra income.
Part-prepayment allows you to repay a portion of your loan via multiple EMIs. This is an easy approach to reduce your interest payable. Your part-prepayment amount is taken from your outstanding principal as of the month in which you make the prepayment. If you have extra cash and wish to utilize it to pay off anything, you might choose a part-prepayment option.
The borrower is required to pay interest every month. At the end of the term, the entire principal amount will be repaid in one large payment. You can also make part payments on your loan at no additional cost.
To meet your financial objectives and budget, we offer low interest rates.
We make sure you can easily and peacefully repay your loan with our flexible repayment alternatives.
Using My Mudra, you can count on a simple and rapid approval process that gives you access to funds exactly when you need them.
At every stage of the loan procedure, our focused customer support team is here to help.
If your credit score is low, will your company financing be denied?
Indeed. It will. It demonstrates your poor financial decision-making abilities. Using a large proportion of credit amounts is one of the most frequent reasons a loan is denied. About 30% of the entire credit amount is the typical percentage
How can I increase my chances of getting a business loan?
Here are some tips:
How is the Business Loan EMI calculated?
You may determine the EMI of your business loan with the use of My Mudra Business Loan EMI Calculator. This functionality significantly improves client convenience.
How is the Business Loan processing fee calculated?
The maximum processing cost is 2% + GST, and it applies to all services.
How long will my business loan take to be processed?
Loan processing and payout will take at least 7 working days once the lender receives all needed documents and information in accordance with its standards. All loan approvals are at the lender's unique decision.
