CreditLake Mudra Loan

CreditLake Mudra Loan

Mudra Loan

Mudra Loan

Mudra Loan is a Govt. initiated credit funding scheme to offer business loans of amount up to Rs. 10 lakh to individuals, MSMEs and self-employed 

Features

  • Low Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • 20% higher home loan eligibility
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Interest Concession for Women Borrowers

Eligibility

  • Resident Type: Resident Indian
  • Minimum Age: 21 years
  • Maximum Age: 45 years, to apply for a loan, and up to age of 70 years for repayment
  • Loan Tenure: up to 30 years.

Interest Rates & Fees

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Documents Required

  • List of papers/ documents applicable to all applicants:

    • Employer Identity Card
    • Loan Application: Completed loan application form duly filled with 3 Passport size photographs
    • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
    • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

    Property Papers:

    • Permission for construction (where applicable)
    • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
    • Occupancy Certificate (in case of ready to move property)
    • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt
    • Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)
    • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

    Account Statement:

    • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
    • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

    Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

    • Salary Slip or Salary Certificate of last 3 months
    • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
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