Union Bank of India is a nationalized bank of India. It was established on 11th November 1919 and it’s headquartered in Mumbai. The Bank offers various types of banking and financial products to its customers such as savings accounts, credit cards, fixed deposits, home loans, business loans, MSME loans, personal loans, debit cards, car loans, gold loans, etc.
Union Bank is also offering UBI Mudra loans Under PMMY Scheme. It is providing extended finance to the micro-enterprises which are in the business of manufacturing, trading and service sector in rural, urban & metro areas.
Union Bank of India has segregated UBI Mudra loans into three categories
Shishu: Loan amount up to Rs. 50,000 is classified under this category.
Kishore: Loan amount exceeding Rs. 50,000 and up to Rs. 5.00 Lakhs is classified under this category.
Tarun: Loan amount exceeding Rs. 5.00 Lakhs and up to Rs. 10.00 Lakhs is classified under this category.
The rate of interest applicable to the units is in the range of MCLR + 0.40% to MCLR + 1.65%.
Loans covered under MUDRA are collateral-free loans. However, assets created out of the bank loan to be charged to the Bank.
UBI’s Documents list for Mudra loan
Regarding the security documents to be obtained against such loans, the following documents are generally obtained:
DP Note, Hypothecation Agreement, Letter of continuity, Term Loan agreement (If there is a term loan) etc.
UBI Mudra loan terms & conditions.
The terms and conditions as per the norms of the bank are to be applicable to such loans from time to time.
How to download the mudra Loan Application form?
We are sharing your Union bank Mudra loan application form. Click below and download the common Mudra application form.
Call during working hours at UBI Customer care at 022-22892250
Q. What is MUDRA?
MUDRA stands for “Micro Units Development and Refinance Agency” and acts as a new financial entity for developing and Refinancing financial intermediaries like Bank, NBFCs, and MFIs, who are in the business of lending to smaller Microenterprises in the Manufacturing, Trading and Services sector including allied agricultural activities.
Q. When was the MUDRA scheme launched?
The Micro Units Development and Refinance Agency (MUDRA) has been launched by the Hon’ble Prime Minister on 08.04.2015
Q. Is the overdraft facility of up to Rs 5000/ covered in the MUDRA scheme?
Yes, an Overdraft facility of Rs. 5000/-sanctioned under Pradhan Mantri Jan Dhan Yojana (PMJDY) is also considered as a MUDRA loan under PMMY.
Q. Are all the loans are covered under Credit Guarantee Scheme?
All eligible PMMY loans are covered under Credit Guarantee Fund for Micro Units (CGFMU). (All MSE loans under the Manufacturing /Services sector including retail trade and loans for allied agricultural activities are eligible to be covered under the credit guarantee fund.
Q. Is all the MUDRA A/c holders eligible for MUDRA Cards?
YES, All CC/OD Accounts (MUDRA Loans) are eligible for issuance of MUDRA CARDS.
Note:- Union bank of India Mudra loan is available for all whetherWhether you are a customer of UBI or not? Bank can’t deny accepting your request. If you are facing any issues or Union Bank of India people are harassing you. Pls, contact to Bank official or contact mudrabank.com. You can also ask the bank manager to provide a complaint book. For a bank loan, you require the Project report. Our team will help you to design the project report. Pls, write us at mudrakibaat @ gmail.com.
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✔ Is Union Bank of India, UBI still providing mudra loans?
✔What is the UBI mudra loan interest rate?
✔Who can apply for a Mudra loan in Union Bank of India?
✔Which UBI branch is authorized for the Mudra loan?
✔Is UBI providing any subsidy on Mudra Loan?