Saraswat Bank MUDRA Loan facility was launched in 2015, as part of the Pradhan Mantri Mudra Yojana (PMMY) scheme. Saraswat Bank provides Mudra Loan to fund support to MSMEs engaged in manufacturing, service and trading sectors at competitive rates of interest starting from 11.65% p.a. to its customers with flexible repayment options.

Key Features of Saraswat Bank Mudra Loan

Saraswat Mudra Loan Particulars

Mudra Loan Scheme
 

Shishu

Kishor

Tarun

Maximum Loan Amount

Rs. 50,000

Rs. 5,00,000

Rs. 10,00,000

Purpose of Loan
  • Term Loan 
  • Cash Credit

Advance Basis
  • Working capital - 20% of Net turnover
  • Term Loan - 4 times of Average Gross cash Accruals or 80% of Agreement Value for new asset

Loan Tenure

Term Loan – Maximum 3 years (including 1 year moratorium period)

Term Loan – Maximum 5 years (including 1 year moratorium period)

Term Loan – Maximum 5 years (including 1 year moratorium period)

Primary Security

Charge on Current Asset / Fixed Assets

Rate of Interest
  • Floating rate at 11.65% (PLR-2.35)
  • Woman entrepreneur get 0.10% concession 

Shareholding
  • 2.5% of the loan amount
  • Maximum allowed Rs.25,000

Collateral

No collateral required

Guarantee

No guarantor required

Processing Charges

NIL

NIL

Rs. 5,000

Renewal Fee

NIL

NIL

Rs. 500