Mudra loan up to Rs 10 lakh without guarantee Canara Bank Mudra Loan: If you want to start your own business or want to expand your business, then you need enough money to start the business.
If you are unable to start your business due to lack of money, then you do not need to panic. Because through the Pradhan Mantri Mudra Loan Scheme, Canara Bank provides Mudra loan up to Rs 10 lakh on easy terms.
Through the Pradhan Mantri Mudra Loan Scheme, you can get a Mudra loan from ₹ 50000 to 10 lakh rupees from Canara Bank.
Canara Bank Mudra Loan Interest Rate
Under the Pradhan Mantri Mudra Loan Scheme, Canara Bank provides loans to its customers at a very reasonable interest rate. The interest rate of Canara Bank Mudra Loan is 10.65% to 15% per annum. Canara Bank Mudra Loan interest rate depends on the applicant’s CIBIL score and loan amount. Canara Bank Mudra Loan processing fee is 1%.
Types of Canara Bank Mudra Loan
Under the Pradhan Mantri Mudra Loan Scheme, Canara Bank mainly provides three types of Mudra Loans.
Canara Bank Shishu Mudra Loan: Under the Pradhan Mantri Mudra Loan Scheme, you can take a Canara Bank Shishu Mudra Loan to start a small business of up to ₹50000.
Canara Bank Kishor Mudra Loan: Under the Pradhan Mantri Mudra Loan Scheme, you can take a Kishor Mudra Loan from ₹50000 to 5 lakh rupees in Canara Bank to start a medium-sized business.
Canara Bank Tarun Mudra Loan: Under the Pradhan Mantri Mudra Loan Scheme, you can take a Tarun Mudra Loan from ₹50000 to 10 lakh rupees from Canara Bank to expand your business and set up a manufacturing or service unit.
Eligibility for Canara Bank Mudra Loan
- The applicant for Canara Bank Mudra Loan must be a permanent citizen of India.
- The age of the applicant for Mudra loan should be more than 18 years.
- For Mudra loan, the applicant must have a stable source of income
- For Mudra loan, the applicant should not be a defaulter of any bank or financial institution.
Documents required for Canara Bank Mudra loan
- Aadhar card
- PAN card
- Residence certificate
- Certificate of business
- Certificate of business address
- Caste certificate
- Income certificate
- Passport size photo
- Mobile number
Online application process for Canara Bank Mudra loan
- First of all, for Canara Bank Mudra loan, first of all you have to go to the official website of Canara Bank https://canarabank.com.
- After this, on the home page of the website, select Business Loan in the loan section.
- After this a new page will open. In which you have to select the option of Canara Bank Mudra loan.
- After this the application form will open. In which all the information asked for is given like applicant’s name, date of birth, address, loan type, amount, Aadhaar card number, PAN card number, etc.
- After this, all the required documents asked for by Canara Bank have to be uploaded.
- After this, E-Mandate has to be setup for making loan payment.
- After this, your application form will be verified by Canara Bank.
- If found correct during verification, your loan will be approved and the loan will be transferred directly to your bank account.