SBI E Mudra Loan – SBI E-Mudra / PM-SVANidhi Loan – SBI E-Mudra Loan: State Bank of India is now providing the facility of giving loan amounts up to Rs. SBI will provide the facility of giving loan amounts to all the citizens of the country who are doing small business. Citizens can now apply for a 50 thousand loan amount sitting at home under the online system without visiting the bank branch.
Through the central government, SBI E-Mudra Loan Scheme businessmen aimed at boosting trade e-currency loan scheme has been launched. Citizens can use SBI Mudra Loan to complete a variety of business tasks.
- MUDRA stands for Micro Units Development and Refinance Agency Ltd. It is a financial institution founded by the Indian government to develop and refinance micro-businesses.
- MUDRA has registered 27 public sector banks, 17 private sector banks, 27 rural regional banks, and 25 MFIs as partner institutions in order to channel the support of deserving borrowers based on the eligibility criteria.
- State Bank of India offers a variety of loans to SMEs, including Pradhan Mantri Mudra Yojana (PMMY).
- SBI E-Mudra Loan: SBI E Mudra Loan – Interest rate, Apply Online, Process, Eligibility
SBI E-Mudra Loan Overwiew
| Name Of The Scheme | E Mudra Loan |
| Scheme Launched under the banner of | State Bank Of India |
| Scheme Launched by | PM Of India Narendra Modi Ji |
| Scheme Comes under | Government Of India |
| Mode Of Applying | Online / Offline Mode |
| Benefits Of SBI e Mudra Loan | INR. 50,000/- to INR. 1,00,0000 |
| Eligibility Criteria | Citizen Should be a micro-entrepreneur |
| Sbi e mudra loan customer care number | 1800 1234 (toll-free), 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990 |
| Instant availability of loan up to | 50,000 |
| Official Website | emudra.sbi.co.in |
Characteristics of the SBI E Mudra Loan
MUDRA loans are basically divided into 3 categories. Applicants can apply in the appropriate category as required.
- Kishore: Loans from Rs. 50,001 to Rs. 5 lakhs. The interest rate depends on the lender, taking into account the applicant’s credit history as per the guidelines of the plan. The repayment duration is at the discretion of the bank, but should not exceed 5 years.
- Shishu – Loans up to Rs 50,000, with a minimum interest rate of 1% per month or 12% per year. With 15 years payback period.
- Tarun: Loans from Rs. 5 Lakhs to Rs. 10 Lakhs. The interest rate depends on the lender, taking into account the applicant’s credit history as per the guidelines of the program. The repayment duration is at the discretion of the bank, but should not exceed 5 years.
Features of e-Mudra
- i. Should be a micro entrepreneur.
- ii. Should be an existing CA/SB Account holder of SBI, minimum 6 months old.
- iii. Max eligible Loan amount- Rs.1.00 Lakh
- iv. Maximum Loan period-5 Years
- v. Instant availability of loan up to Rs.50,000/- based on Bank’s eligibility norms.
- vi. For loan above Rs.50,000/-, customer to visit Branch for completing formalities.
Features of SBI Mudra Loan
| Nature of facility | Term loan and working capital |
| Purpose | Modernisation, business capital, expansion |
| Target group | People belonging to trading sector, part of business enterprises, and those who carry out agricultural activities |
| Quantum of loan | Maximum loan amount: Rs.10 lakhLoans up to Rs.50,000 is under SHISHU categoryLoans from Rs.50,001 to Rs.500,000 is under KISHORE categoryLoans from Rs.500,001/- to Rs.10,00,000/- is under the TARUN category |
| Repayment period | 3 –5 years |
| Processing fee | Nil for Shishu and Kishore loans0.5% of the loan amount for Tarun loans |
| Margin | Nil for loan up to Rs.50,00010% for loan amount from Rs.50,001 to Rs.10 lakh |
| Pricing | Pricing linked to MCLR |
| Collateral security | No collateral required. However, as Primary Security, hypothecation of P&M for TL and hypothecation of stocks and receivables for CC to be done. |
| Eligibility criteria | New and existing units |
| Other conditions you must be aware of | The loan that you avail under Mudra Scheme is guaranteed by Credit Guarantee for Micro Units (CGFMU) and provided by National Credit Guarantee Trustee Company (NCGTC).The cover is available for 5 years and hence the advises granted is for 60 months.You can view the leads on Udyami Mitra Portal.All CC account holder will be issued a Mudra RuPay card by their respective branches. |
SBI E-Mudra Loan Application Eligibility
- Applicant should be a small (micro) entrepreneur.
- The applicant person should be a current/savings account holder of SBI for at least 6 months.
- Maximum loan tenure – 5 years
- Under the scheme, individuals can get a maximum loan amount of up to Rs 1 lakh.
- Availability to avail instant loan amount up to Rs.50,000
- If the person wants to get the loan amount more than 50 thousand then they have to visit the bank branch to complete the formalities.
- SBI E-Mudra Loan: SBI E Mudra Loan – Interest rate, Apply Online, Process, Eligibility
Eligibility Criteria of SBI E Mudra Loan
MUDRA Loans can be used by entrepreneurs looking to start a new business or by established profit companies looking to expand their business. This segment comprises millions of own or associated companies that function as small production units, service units, dealers, fruit and vegetable sellers, truck operators, catering, repair shops, machine operators, Small industries, craftsmen, food processors, and others.
- These applicants must show proof of benefits and also justify the need to upgrade machinery and equipment.
- The applicant must be between 18 and 60 years old. The depot must have been active for at least 6 months.
- Start-up applicants must present a viable business model, which describes the profitability of the business model to qualify for this loan.
- Established business units, already in gainful activities, can apply in the Kishor and Tarun categories for credit for business expansion or modernization of machinery and equipment.
Requisite documents for Applying SBI E Mudra Loan
- Savings/Current Account number and branch details.
- Proof of Business (Name, Start date & Address)
- UIDAI- Aadhar Number (should be updated in A/c Number).
- Community details (General/SC/ST/ OBC/ Minority)
- Other information for uploading like:
- GSTN & UDYOG Aadhar
- Proof of Shop & Establishment or Any other Business Registration document (if available).
Step by Step Process to apply for SBI e-Mudra Loan
- Please Input or select through drop down menu and fill application form.
- Please provide Aadhaar No. for e-KYC through UIDAI (User to ensure his present Mobile Number is linked with Aadhar (For OTP purposes) since e-KYC, e-Sign has to be completed through OTP authentication for processing and disbursement.
- For Above 50,000 to Rs. 1 lacs, applicant to visit Branch where his SBI Saving/ Current Account is maintained and complete document signing formalities. Upon Completion of formalities, you will receive SMS in your mobile number advising to initiate further process viz. account opening & Disbursement by revisiting e-MUDRA portal. The process needs to be completed within 30 days after receipt of SMS of loan sanction.
Note: The documents to be uploaded should be in PDF/ JPEG / PNG format, maximum size 2MB.
SBI e-Mudra
Existing SBI savings and current account holding customers can now apply for the SBI Mudra loan online. Loan applications for up to Rs.50,000 can be submitted on the SBI e-Mudra portal – https://emudra.sbi.co.in:8044/emudra.
Eligibility criteria for SBI e-Mudra Loan
- The borrower should be between 18 and 60 years of age.
- The deposit account should have been active for a minimum of 6 months.
Documents Required for Sbi Mudra
It is important to keep the following documents in hand when applying online for the e-Mudra loan. The documents should be in the JPEG, PNG, or PDF format and should not exceed 2MB in size. The documents should be a photocopy or a scanned copy of any of the following:
- GST registration certificate
- Shop & Establishment certificate
- Udyog Aadhaar
- Any other document of business registration
Details Required
To ensure that the application process is smooth, make sure you have the following details ready:
- Your SBI savings/current account number
- Aadhaar number: This is voluntary and is required to complete the e-KYC process instantly through the mobile app. However, if you do not wish to provide your Aadhaar number online, your application will be manually processed at the SBI branch.
- Business details: This includes the name and address of your business and its start date and is used to verify your business location.
- Religion and community: This is a part of SBI’s credit policy.
- Sales figures: Sales turnover figures.
- Business account: Account number, bank, and branch name where your business’ sales proceeds gets credited.
Online application procedure for SBI E Mudra Loan
Existing SBI customers who have a savings bank or checking account (individual) can apply an e-MUDRA loan amount up to Rs. 50,000 online on their official website or by clicking on the link: SBI eMudra Loan. Others can apply to the nearest SBI branch.
- Visit the SBI e-Mudra portal.
- Click the “Continue” button on the home page.
- Read the instructions provided in Hindi or English and click “Ok” to go to the next page.
- Enter your mobile number, your SBI current/savings account number, and the amount of credit requested.
- Click on “Continue”.
- Fill in the data requested in the online application form. You can also select the relevant data via the drop-down menu.
- Download the necessary documents.
- Accept the terms and conditions of SBI e-Mudra with an e-Sign.
- Enter your Aadhaar number.
- Check the consent box for the use of your Aadhaar for electronic signature purposes.
- You will receive an OTP on your mobile number registered with your Aadhaar.
- Enter the OTP in the required field to complete your request.
Documents Required for SBI E-Mudra Loan Application
- Proof of business (name start date and address)
- The bank account of the applicant person should be linked with the bank account for the loan amount.
- Savings/Current Account Number and Branch Details
- It is necessary for the caste to be minority, ST, SC, OBC and general category.
- The person needs to have GST and Udyog Aadhaar for uploading.
- business registration proof
Benefits of the Pradhan Mantri Mudra Yojana program
The Pradhan Mantri Mudra Yojana Plan is an ideal option for those who need funds to fund their various business needs. Below are some reasons why you should apply for the Pradhan Mantri Mudra Yojana Plan:
- The PMMY program gives the country’s micro-businesses better access to funds.
- Individuals in need of funds for business purposes are eligible for loans under the PMMY program at an affordable rate.
- The PMMY program contributes to job creation and GDP growth.
- The processing fee charged by Pradhan Mantri Mudra Yojana is comparatively low. For the Kishore and Shishu programs, the MPE units drawing the loan pay a zero processing fee, while for the Tarun program, a nominal interest rate of 0.50% plus tax is charged.
How to Apply for SBI E Mudra Loan
- To apply under the State Bank of India E-Mudra Loan Scheme, visit the official website of emudra.sbi.co.in.
- In the home page of the website, click on the option of Proceed For e-mudra.
- After reading all the guidelines given in the next page, click on the OK option.
- Select your language in the new page.
- And now verify by entering your mobile number.
- After this the person has to enter his account number and loan amount details and click on proceed option.
- The person has to complete this process within 30 days after receiving the loan amount sanctioned message in the mobile number.
Additional Benefits
Borrowers can purchase RUPAY debit cards under the name MUDRA Card for cash withdrawals and transactions at points of sale. Next, its properties will be detailed in each of the 3 categories
| Limit | Shishu | Kishor | Tarun |
| Daily cash withdrawal limits | 10,000 | 15,000 | 20,000 |
| Daily POS Limit | 15,000 | 25,000 | 30,000 |
- The Pradhan Mantri Mudra Yojana Plan is an ideal option for people who need funds to fund their various business needs. This plan gives the country’s MSMEs better access to funds.
- People who need funds for their business needs can avail themselves the loans. under the PMMY program at an affordable rate. It has helped create jobs and GDP growth.
- With no security requirements and competitive interest rates, the SBI E Mudra Loan is the most effective way to get a loan to make your business dream come true.
Direct Link to SBI E-Mudra Loan
Pm Mudra Yojana – MSME Loan / SME Loan Scheme | SBI – Business
|
SBI | SBI E-Mudra Loan
| Official Website | Click Here |
| AFPR Homepage | Click Here |
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