Union Bank Digital Mudra loan 2024 : सिर्फ़ 5 मिनट में लें ₹1 लाख से 10 लाख तक का Urgent Loan बिना Guarantee के, जाने प्रक्रिया !!

Union Bank of India Digital Mudra loan : The Union Bank of India is providing Digital Mudra loan where customers can ask up to 10 lakh Mudra loan from the Union Bank of India. If you apply for Shishu Mudra loan of Union Bank of India, then you will get instant loan amount in your bank account without uploading extra documents.

This will save your time and energy and you will get instant Mudra loan amount to start your business. So if you are interested in restarting your business with Pradhan Mantri Mudra loan scheme then you can read this article to know all about this Union Bank of India Digital Mudra loan scheme and the Union Bank of India Digital Mudra loan eligibility criteria to apply in Union Bank of India Digital Mudra loan 2024.

Union Bank Digital Mudra loan 2024
Union Bank Digital Mudra loan 2024

Union Bank of India Mudra loan 2024

It is one of the famous bank in India which is providing various facilities to their customers. The bank is also providing Mudra loan to their customers. The central government has launched Mudra loan scheme in 2015 to provide instant business loan for business-minded person who want to start there micro, small and medium enterprises – MSMEs.

The government has divided Mudra loan into three parts the minimum loan is 50000 rupees which is known as Shishu Mudra loan. This is also known as digital Mudra Loan. You can take Kishore Mudra loan for up to 5 lakh rupees and Tarun Mudra loan for up to 10 lakh maximum.

If you are looking for Kishore and Tarun Mudra loan, then you should physically visit to the branch of Union Bank of India Digital Mudra loan. however if you need up to 50000 rupees and want to get it through Mudra loan then you can apply it digitally by using your mobile phone.

Union Bank Mudra loan 2024 : Highlights

Union Bank MUDRA Loan Highlights
ParticularsUnion Shishu MUDRA LoanUnion MUDRA – Kishore & Tarun STP
Loan AmountUp to Rs 50,000Above Rs 50,000 to 10 lakhs
FacilityTerm LoanTerm Loan, Working Capital
Interest Rates10.30% p.a.11.05%-12.05% p.a.
Tenure3 yearsTerm Loan:
5 years (for up to Rs 5 lakh)
7 years (for above Rs 5 lakhs)
Working Capital – 1 year
Processing FeesNILNIL

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Features of Union Bank Mudra loan 2024

  • The bank is providing Aadhaar based authentication system where you need not to submit your all the documents through physically. 
  • The bank is charging interest rates from 7% to 9% and it will be increase according to the eligibility of the customer.
  • The bank is not asking any guarantee to provide Mudra loan.
  • If you are applying for Digital Shishu Mudra loan then you will get the facility of EMI up to 36 months to repay the loan amount.
  • However the maximum EMI is 84 months for maximum 10 lakh rupees.
  • The loan amount will provided instantly in the bank account if you apply for Union Bank of India Digital Mudra loan 2024.

Eligibility Criteria for Union Bank Mudra loan 2024

Eligibility for Union Bank Shishu Loan :-

  • Applicant must be a micro-entrepreneur.
  • Applicant must have a Union Bank of India (UBI) savings account.
  • Applicant must have at least 6 months banking relationship with UBI or with any other Bank.
  • The loan can be availed for income producing activities only.
  • Perspective borrower should be at the business place while availing for MUDRA loan.
  • The applicant should not a defaulter in any bank or any financial institution.

Eligibility for Union Bank MUDRA – Kishore & Tarun STP :-

  • The promoter’s age should be between 21 to 65 years.
  • The business entity must have a valid Udyam Registration Number (URN).
  • Eligible borrowers – Individuals, Partnership concerns (including LLPs), Proprietorship classified under category of micro-enterprise as per MSMED Act 2006.
  • Business entity must have a minimum 6 month old bank account with any Schedule Commercial Bank.
  • Borrower, promoter, or sister concern name should not be in a defaulter list or CRF.

Documents required for Union Bank Mudra loan 2024

  • You should have your GST number, and business registration information to apply for Union Bank of India Digital Mudra loan.
  • The bank will not ask any document physically or online.
  • You need to only verify your Aadhar information by entering the Aadhar OTP in the website of Union Bank of India.
  • After that your information will sent to the Union Bank of India by the government.

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How to Apply online for Union Bank Digital Mudra Loan 2024 ?

Follow this procedure to apply online for Union Bank of India Digital Mudra loan 2024 to ask up to 50000 through online amount instantly:

  • First of all you have to visit to the official website of Union Bank of India.
  • You can click on this link to visit directly on the website : https://www.unionbankofindia.co.in/ 
  • Now you have to click on the digital banking section and select the Mudra loan in this section.
Apply online for Union Bank Digital Mudra Loan 2024
  • After that you have to click on the Union Bank of India Digital Mudra loan apply now link.
  • Now you have to accept all the terms and condition of the Union Bank of India which will available on your screen.
  • You can check the information of the Mudra loan which will provided by the Union Bank of India on the screen and click on the accept button if you are agree.
  • Enter your mobile number, you will receive OTP message in your mobile number which you have to enter on the website.
  • After that online application form will appear in your screen where you have to enter your personal details and other information in the website.
  • Now you have to verify your Aadhar information by entering the OTP message in the website which will send by the government of India for your verification purpose only.

Once you have enter your all the details you can click on the submit button. Company will provide you the laon after few minutes in your bank account direct. 

Interest Rates of Union Bank Digital Mudra Loan 2024

Union Shishu MUDRA Loan
  • Union Bank of India offers Shishu Mudra loan at an interest rate of 10.30% p.a. for a loan amount up to Rs 50,000.
Union Mudra – Kishore & Tarun STP
Loan AmountInterest Rate (p.a.)
Above Rs 50,000 to Rs 2 lakhs11.05%
Above Rs 2 lakh to Rs 10 lakhs12.05%

Guarantor under Union Bank Digital Mudra Loan 2024

  • Shishu MUDRA Loan : NIL.
  • Kishore & Tarun STP : Personal guarantee of all partners and promoters of the firm or LLPs is necessary.
  • There is no need for a third-party guarantor.

Fees & Charges of Union Bank MUDRA Loan

For Union Shishu Loan :-

ParticularsCharges
Processing FeesNIL
Digital Convenience FeeRs 1,000
Stamp ChargesRs 171
Insurance ChargesNIL

For Union MUDRA – Kishore & Tarun STP

ParticularsCharges
Processing & documentation ChargesNIL
Digital Convenience FeeRs 1,000
Penal interest on delayed payments2% p.a. for the duration of the instalments delayed
Penal Interest on non-submission or delay in submission of stock statement1% p.a.
Prepayment PenaltyNIL

FAQ’s : Union Bank Digital Mudra Loan 2024

Are loans that are covered under MUDRA are collateral-free loans ?

Yes, the loans covered under MUDRA are mortgage-free loans. However, assets created outside of the bank loan to be charged with the bank.

What is the processing time for loan under the Mudra scheme ?

Normally it takes 7- 10 days for processing of lower amount like Shishu loan while other categories have processing time varying from bank to bank.

How to apply online for Union Bank Mudra Loan 2024 ?

You can apply online by following the above given steps in the article.

How to check the Union Bank Mudra Loan status ?

For checking the status, you can either call on the bank’s toll-free number (1800-22-2244) or can visit the nearest bank branch along with the loan details like reference number or loan application number.

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