Guide For Mudra Loan Yojana - मुद्रा लोन योजना

This App Is Showing That Informations:-
* How To Apply MUDRA Bank Loan
* Information About Mudra Loan
* Different types of schemes
* Different types of loans
* Which types Of loans available
* What kind of peoples are eligible for loan

Loan amount: From ₹1,000 to ₹5,00,000
Interest rates: From 0% to 30.00% per annum
Tenure: 90 days to 24 months

A representative example (1) of the total cost of the loan Amount:-
* Amount Borrowed (Principal) = ₹14,999/-
* Interest Rate (APR) = 36% (on Reducing Principal Balance interest calculation)
* Tenure = 6 months
* Processing Fee (incl. GST) = ₹826
* Amount disbursed = ₹14,173
* Your EMI amount = ₹2769 (based on PMT method, sample monthly payment)
* Interest amount = ₹2769 x 6 - ₹14999 = ₹1614(sample interest calculation)
* Total Cost of Loan = Processing Fee + Interest Amount + Late Fee = ₹826 + ₹1614= ₹2440
* Principal repayment amount = ₹14,999/- (same as amount borrowed)
* Total repayment amount = Principal repayment amount + Interest Amount + Fee = ₹14,999 + ₹1614 + ₹0 = ₹16,613

Example (2) of a Loan:
For ₹1,00,000/- borrowed, at an interest rate of 2% p.m. for 12 months (interest rate on reducing balance method), the payable amount would be:
Processing fee = ₹1000
Other charges = ₹100
Interest = ₹13,472
Total amount repaid after a year = ₹1,14,572

Eligibility For Loan:-
* Indian Resident.
* Source of a monthly income.
* 20-60 years old.