What is The Muthoot Mudra Loan Scheme?

Muthoot Mudra Loan Scheme is a loan scheme offered by Muthoot Finance Limited, a leading non-banking financial company (NBFC) in India. The scheme is aimed at providing financial assistance to small business owners, traders, self-employed professionals, and individuals who require funds for their personal or business needs.

Under the Muthoot Mudra Loan Scheme, borrowers can avail of loans ranging from Rs. 50,000 to Rs. 10 lakhs, depending on their creditworthiness and repayment capacity. The loan tenure can range from 12 months to 36 months, and the interest rate varies based on the loan amount and the borrower's credit history.

The Muthoot Mudra Loan Scheme is collateral-free, which means borrowers do not need to pledge any assets as security to avail of the loan. Additionally, the loan application process is simple and can be completed online or at any of the Muthoot Finance branches across India.

To be eligible for the Muthoot Mudra Loan Scheme, borrowers must be Indian citizens between 21 and 65 years of age and must have a steady source of income. The loan is available for both salaried and self-employed individuals. The loan application requires minimal documentation and includes proof of identity, address, and income.

Overall, the Muthoot Mudra Loan Scheme is a flexible and convenient loan option for small business owners and individuals who need funds for their personal or business needs.