SBI E-Mudra Loan: SBI E Mudra Loan – Apply Online, Interest rate, Process, Eligibility & Loan Amount (November 2022)

SBI E Mudra Loan – SBI E-Mudra / PM-SVANidhi LoanSBI E-Mudra Loan: State Bank of India is now providing the facility of giving loan amounts up to Rs. 50,000; 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 at home under the online system without visiting the bank branch. 

Through the central government, the SBI E-Mudra Loan Scheme business people aimed at boosting the trade e-currency loan scheme. As a result, citizens can use SBI Mudra Loan to complete various 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 and regional banks, and 25 MFIs as partner institutions 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). 

Characteristics of the SBI E Mudra Loan

MUDRA loans are divided into three 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, considering the applicant’s credit history per the plan’s guidelines. The repayment duration is at the Bank’s discretion but should not exceed five 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, considering the applicant’s credit history per the program’s guidelines. The repayment duration is at the Bank’s discretion but should not exceed five years.

Features of SBI e-Mudra

  • They should be micro-entrepreneurs.
  • Should be an existing CA/SB Account holder of SBI, minimum six months old.
  • Max eligible Loan amount- Rs.1.00 Lakh
  • Maximum Loan period-5 Years
  • Instant availability of loans up to Rs.50,000/- based on the Bank’s eligibility norms.
  • Customers visit the Branch to complete formalities for loans above Rs.50,000/-

SBI E-Mudra Loan Application Eligibility

  • Applicant should be a small (micro) entrepreneur.
  • The applicant should be a current/savings account holder of SBI for at least six 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 a loan of more than 50 thousand, they have to visit the bank branch to complete the formalities.

Online application procedure for SBI E Mudra Loan

Existing SBI customers with a savings bank or checking account (individual) can apply for an e-MUDRA loan amount of 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. 

  1. Visit the SBI e-Mudra portal.
  2. Click the “Continue” button on the home page.
  3. Read the instructions in Hindi or English and click “Ok” to go to the next page.
  4. Enter your mobile number, your SBI current/savings account number, and the amount of credit requested.
  5. Click on “Continue”.
  6. Fill in the data requested in the online application form. You can also select the relevant data via the drop-down menu.
  7. Download the necessary documents.
  8. Accept the terms and conditions of SBI e-Mudra with an e-Sign. 
  9. Enter your Aadhaar number.
  10. Check the consent box to use your Aadhaar for electronic signature purposes.
  11. You will receive an OTP on your mobile number registered with your Aadhaar.
  12. Enter the OTP in the required field to complete your request. 

SBI e-Mudra – Direct Link Working Now

Sbi E Mudra Pm Svanidhi Loan
Sbi E Mudra Pm Svanidhi Loan

Eligibility Criteria of SBI E Mudra Loan

MUDRA Loans can be used by entrepreneurs looking to start a new business or 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, artisans, food processors, and others. 

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  • These applicants must prove benefits and justify the need to upgrade machinery and equipment. 
  • The applicant must be between 18 and 60 years old. In addition, the depot must have been active for at least six months.
  • Startup startups must present a viable business model, which describes the business model’s profitability, 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 for 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).

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
  • The caste must be a minority, ST, SC, OBC or 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:

  1. The PMMY program gives the country’s micro-businesses better access to funds.
  2. Individuals needing funds for business purposes are eligible for loans under the PMMY program at an affordable rate.
  3. The PMMY program contributes to job creation and GDP growth.
  4. The processing fee charged by Pradhan Mantri Mudra Yojana is comparatively low. The MPE units drawing the loan pay a zero processing fee for the Kishore and Shishu programs, while for the Tarun program, a nominal interest rate of 0.50% plus tax is charged. 

Step-by-Step Process to Apply for SBI E Mudra Loan

  • Please Input or select through the drop-down menu and fill out the application form.
  • Please provide Aadhaar No. For e-KYC through UIDAI (The user has 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 the Above 50,000 to Rs. 1 lacs, an applicant is to visit Branch where his SBI Saving/ Current Account is maintained and complete document signing formalities.
  • Upon Completion of formalities, you will receive an SMS on your mobile number advising you to initiate the further process, viz. account opening & Disbursement, by revisiting the e-MUDRA portal.
  • The process needs to be completed within 30 days after receipt of the SMS of loan sanction.

Note:

The documents to be uploaded should be in PDF/ JPEG / PNG format, maximum size 2MB.

SBI Official Website

SBI e-Mudra – Direct Link Working Now

How to Apply for SBI E Mudra Loan

  1. To apply under the State Bank of India E-Mudra Loan Scheme, visit the official website of mudra.sbi.co.in.
  2. On the home page of the website, click on the option of Proceed For e-mudra.
  3. After reading all the guidelines on the next page, click on the OK option.
  4. Select your language on the new page.
  5. And now verify by entering your mobile number.
  6. After this, the person has to enter his account number and loan amount details and click on proceed option.
  7. The person has to complete this process within 30 days after receiving the loan amount sanctioned message in the mobile number.

SBI E-Mudra Loan Eligibility

निम्नलिखित पात्रता मानदंडों को पूरा करने पर आप एसबीआई E Mudra के लिए ऑनलाइन आवेदन कर सकते हैं।

  • SBI ई-मुद्रा लोन के लिए आवेदन करने वाले व्यक्तियों को एक सूक्ष्म उद्यमी होना चाहिए।
  • यदि आपके पास कम से कम छह महीने के लिए एसबीआई का चालू या बचत खाता है तो आप ई-मुद्रा ऋण के लिए आवेदन कर सकते हैं।
  • आप ई-मुद्रा ऋण के साथ  1 लाख की अधिकतम ऋण राशि प्राप्त कर सकते हैं। इसके अलावा, बैंक के विवेक के अनुसार, 50,000 की त्वरित ऋण उपलब्धता है।
  • SBI ई-मुद्रा ऋण के लिए अधिकतम चुकौती अवधि 5 वर्ष तक है।

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 three categories 

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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 businesses can avail themselves of loans under the PMMY program at an affordable rate. As a result, 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.
Sbi E Mudra Pm Svanidhi Loan Interface
Sbi E Mudra Pm Svanidhi Loan Interface

SBI | SBI E-Mudra Loan

SBI e-Mudra – Direct Link Working Now


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