Bank of Maharashtra MSME/Large Credit Schemes

In order to support and strengthen the MSME sector, the Bank of Maharashtra offers a wide array of MSME/Large Credit Schemes. Here are highlights of these schemes:

Pradhan Mantri Mudra Yojana
Bank of Maharashtra provides the term loan & cash credit facility through the Pradhan Mantri Mudra Yojana. Non-farm units that are involved in manufacturing, trading, and services tasks avail of this term loan & cash-credit facility for an amount of up to Rs 10,00,000. Also, entities engaged in the food products sector and allied agricultural services can also avail of a loan amount of up to Rs 10,00.000 under the Pradhan Mantri Mudra Yojana.

Three schemes that are offered under the umbrella of Pradhan Mantri Mudra Yojana are:

• Shishu - users can raise a loan amount of up to Rs 50,000
• Kishore - offers a loan amount ranging between Rs 50,001 to Rs 5,00,000
• Tarun - provides the loan amount in the range of Rs 5,00,001 to Rs 10,00,000

Features of PMMY

• Overdraft facility available
• No collateral or third-party guarantee required
• Mudra debit card is offered to all cash credit account holders under PMMY
• For detailed information on what Bank of Maharashtra offers to users under the Pradhan Mantri Mudra Yojana, visit here
• If users want to assess their eligibility criteria for Pradhan Mantri Mudra Yojana, check this page

Users who wish to apply for Pradhan Mantri Mudra Yojana can visit the nearby branch of Bank of Maharashtra.
Application forms for the following schemes:

• For Shishu scheme - the application form is available at this link
• For Kishore and Tarun scheme - the application form is available here

Stand-Up India Scheme

Bank of Maharashtra offers the Stand-Up India Scheme that is aimed to render an incorporated loan in the range of Rs 10,00,000 and Rs 100,00,000. Apart from the basic security, users can also protect their loan through collateral security or guarantee of CGFSIL (Credit Guarantee Fund Scheme).

Other highlights

• Bank of Maharashtra offers the facility of repayment in seven years with a minimum moratorium span of 18 months.
• Also, under the Stand-Up India Scheme, the working capital is sanctioned depending on the requirement through the cash credit limit.
• Bank of Maharashtra offers users an opportunity to envisage 25% margin money that can be offered in concurrence with the eligible central and state schemes.

How to apply for Stand-Up India Scheme?

• Users who wish to apply for Stand-Up India Scheme can do so by reaching out to a nearby located branch of Bank of Maharashtra.
• Now, users can either download the application form here or can ask for the same to a bank executive.
• The bank agent will assist users by letting them know what documents are needed for the completion of the application process.
• Once users submit the duly filled application form along with the required set of documents, the bank executive will provide users with a reference number.
• Users can check out the status of their application through this reference number.