How to Get an Instant SBI e-Mudra Loan of Rs 50 000?

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister of India on April 8, 2015. Under this scheme, loans of up to Rs. 10 Lakhs are provided to the non-corporate and non-farm small/micro enterprises. 

These loans are classified as MUDRA loans under PMMY and are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. SBI also provides PMMY loans to its customers. 

If you want an SBi e Mudra Loan apply online 50 000 to Rs. 10 Lakhs, you can do so through the JanSamarth portal (www.Jansamarth.in). You can also visit any SBI branch for the offline application. 

Under the aegis of PMMY, MUDRA offers three products viz. 'Shishu', 'Kishore' and 'Tarun'. These variants signify the stage of growth/development and funding needs of the beneficiary micro units/entrepreneurs and also provide a reference point for the next phase of graduation/growth.

If you want an e Mudra Loan SBI 50 000, you can apply for Shishu scheme. Under this scheme, you can avail of loans up to Rs. 50,000. For higher loan amounts, you can opt for other two categories.

Here are the details of the Pradhan Mantri MUDRA Yojana (PMMY) scheme:

• Nature of facility: Working Capital Loan and Term Loan.
• Purpose: Business purpose, capacity expansion, and modernisation.
• Target group: Business enterprises involved in manufacturing, trading and service sectors (including allied agricultural activities).
• Eligibility: Existing and new units.
• Quantum of loan 
  • Shisu: Loans up to Rs. 50,000 
  • Kishore: Loans from Rs. 50,001 to Rs. 5,00,000 
  • Tarun: Loans from Rs. 5,00,001 to Rs. 10,00,000
• Margin 
  • Up to Rs. 50,000: Nil
  • Rs. 50,001 to Rs. 10 Lakhs: 20%
• Interest rate: The e Mudra loan SBI 50 000 interest rate is competitive and linked to EBLR.
• Repayment tenure
  • Term Loan/Dropline Overdraft below Rs. 5 Lakhs: Maximum 5 years (including maximum moratorium period of up to 6 months).
  • Term Loan/Dropline Overdraft from Rs. 5 Lakhs to Rs. 10 Lakhs: Maximum 7 years (including maximum moratorium period of up to 12 months).
• Processing fee: 
  • Nil for Shishu and Kishore to MSE Units
  • 0.50% of loan amount + applicable taxes for Tarun 

If you want SBI e Mudra Loan apply online, 50 000 loan or more will be provided based on your eligibility. To apply online, you can log in to www.jansamarth.in.

Conditions for SBI e-Mudra Loan

• The loans under the Mudra Scheme are guaranteed by Credit Guarantee for Micro Units (CGFMU), which is provided through the National Credit Guarantee Trustee Company (NCGTC).
• The guarantee cover is available for 5 years and hence for loans granted under the Mudra Scheme, the maximum tenure is 60 months.
• All Branches are to issue MUDRA RuPay Cards for all the eligible CC accounts.

Documents Required for SBI e-Mudra Loan

You must keep the following documents handy when applying online for the e-Mudra loan at SBI. The documents to be submitted should be a photocopy/ scanned copy of any of the following in the JPEG, PNG, or PDF format and should not exceed 2MB in size.:

• GST registration certificate
• Udyog Aadhaar
• Shop & Establishment certificate
• Any other document of business registration

Details Required for SBI e-Mudra Loan Application 

Make sure you have the following details ready for a smooth application process:

• Account number: Your SBI Savings Account or Current Account number
• Aadhaar number: It is voluntary and is required for completing the e-KYC process instantly from the mobile app.
• Business details: The name, address and start date of your business are used to verify your business location.
• Religion and community: It is a part of SBI's credit policy.
• Sales figures: Your business’ sales turnover figures.
• Business account: Account number, bank and branch name in which your business' sales proceeds get credited.

Online SBI e-Mudra Loan Application Process Steps

• Visit the SBI e-Mudra portal and click on the 'Apply Now' button.
• Read the instructions in your preferred language and click on the ‘OK’ button to proceed to the next page.
• Enter your mobile number, SBI savings or current account number, and the required loan amount.
• Then click on 'Proceed'.
• Enter the required details in the online application form and upload the necessary documents.
• Accept the SBI e-Mudra’s Terms and Conditions with an e-sign. To do this, you have to input your Aadhaar number and tick on the consent check box for using the Aadhaar for e-sign.
• You will receive an OTP on your mobile number linked with your Aadhaar. Enter it in the required field to complete your application.

Who Can Apply for an SBI e-Mudra Loan?

• Both existing and new units can avail of the PMYY loan
• Business enterprises engaged in manufacturing goods can avail of this loan
• Individuals employed in the trading and services sector can apply.
• Individuals who participate in allied agricultural activities can also apply.