Central Bank of India MUDRA Loan
About This Loan
Central Bank of India offers MUDRA loans across all three categories (Shishu, Kishore, and Tarun) with a focus on priority sector lending to small and micro enterprises. As one of India's oldest nationalised banks, it has an extensive rural and semi-urban branch network that makes MUDRA loans accessible in underserved areas where many private banks lack presence. Central Bank regularly organises MUDRA camps and outreach drives at district and block levels to accelerate loan disbursement and reach first-time borrowers. The bank's processing timelines are typically 7 to 21 days depending on the MUDRA category, and applications can be submitted at any branch with minimal documentation, particularly for Shishu-category loans up to 50,000 rupees.
Maximum Amount
₹10,00,000
Interest Rate
10% – 13.50% p.a.
Tenure
Up to 5 years
Collateral
Nil
Processing Fee
Nil (Shishu) / 0.50% (Kishore & Tarun)
Eligibility
Indian citizen with viable non-farm business plan; KYC compliant; no default history with any bank.
Application Process
- 1Visit Central Bank of India branch
- 2Submit application with supporting documents
- 3Branch evaluates and processes
- 4Loan sanctioned within 7-21 days depending on category
Documents Required
- Loan application form
- Aadhaar and PAN card
- Business plan or project brief
- Bank statements (for Kishore/Tarun)
- Udyam Registration (if available)
Official Links
Related Government Schemes
Disclaimer
This information is sourced from publicly available bank and financial institution websites. EduMetrics is not a financial advisor or lending institution and does not guarantee the accuracy of interest rates, eligibility criteria, or loan terms. Please verify all details with the respective bank before applying.