SBI E Mudra Loan Scheme: Often we need a loan for our work. Apart from this, if we want to start our own business then we have to take a loan for this also. In such a situation, State Bank of India helps us. Yes, let us tell you that SBI provides Mudra loan to Micro, Small and Medium Enterprises (MSMEs) i.e. small and medium businesses. Mudra Loan from SBI is available at attractive interest rates with low processing fees and easy payment options.
Loan up to Rs 20 lakh can be taken
Mudra Loan given by SBI can be used to meet various working capital related needs. Whether the business is from service industry, manufacturing or trading sector, everyone can avail the benefit of Mudra Loan from State Bank of India. In this, loan up to ₹ 10 lakh was available. According to Budget 2024, this amount has now been increased to ₹ 20 lakh. This is a welfare scheme for small businessmen and entrepreneurs.
This much processing fee has to be paid
In this, term loan and working capital loan are offered and the loan tenure is from 3 to 5 years. Processing fee up to 0.50% of the loan amount has to be paid. SBI E Mudra Loan To avail this, you must have a current or savings account of SBI which is at least 6 months old. Mainly this loan is given under three categories which include Shishu, Kishor and Tarun category.
पैन कार्ड लोन योजना फॉर्म
Loan is given under different categories
baby – Loan up to Rs 50000 is available in this category. The minimum interest rate in this will be 1% per month or 12% per year. It has to be repaid over a period of 1-5 years.
Teenager – In this category, loan can be taken from Rs 50001 to Rs 5 lakh. The interest rate depends on the lender taking into account the credit history of the applicant in compliance with the scheme guidelines. Repayment period depends on the discretion of the bank but Does not exceed more than a year.
Young – Under this, a loan ranging from Rs 5 lakh to Rs 10 lakh can be taken. The interest rate depends on the lender taking into account the credit history of the applicant in compliance with the scheme guidelines. The repayment period depends on the discretion of the bank but it should not exceed 5 years.
Documents required to take loan
- Aadhar card
- PAN card
- Savings/Current Account Number and Branch Details.
- Proof of business (name, start date and address).
- UIDAI – Aadhaar number (must be updated in the account).
- Caste Details (General/SC/ST/OBC/Minority)
- Other details for upload like: GSTN and Udyog Aadhaar (if available)
- Proof of shop and establishment or other business registration documents (if available)
- Mobile number and email ID
How to apply for loan
- To take a loan, first of all you have to contact SBI. official website will go on.
- On the website, you have to find “SBI e Mudara Loan” application or service option and click on it.
- Now an online form will come here in which you will have to enter all the information.
- Now you will receive an OTP.
- Now you have to upload the relevant documents.
- In this way your application process will be completed.
- Now your application will be reviewed by the bank officials and if everything is found correct, you will be provided the loan.
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