Existing customers of SBI savings and current accounts can apply for the SBI E Mudra loan up to Rs. 10 Lakhs online at competitive interest rate. The tenure ranges between 2 to 5 years. Customers can submit the loan application for up to Rs. 50,000 on the SBI e-Mudra portal.
|Type of facility||Working Capital & Term Loan|
|Purpose||Business purposes like modernization, capacity extension, etc.|
|Target group||Existing and new business units in the Manufacturing, Trading, & Services sector|
|Loan amount||Up to Rs. 10 Lakhs|
|Tenure||3 to 5 years|
|Interest rate||Competitive interest rate linked to MCLR|
|Margin||Up to 10%|
|Processing fee||Up to 0.50% + applicable tax|
|Schemes under Mudra Loan||Shishu, Kishore, and Tarun|
Also Check: Types of SBI Debit Card & their eligibility.
The government of India launched the PM Mudra Yojana or PM E Mudra Loan in 2015 to promote the small enterprises in India. Under E Mudra loan, business enterprises in the sectors of manufacturing, trading and services (including allied agricultural activities) can avail business loans up to Rs. 10 Lakhs. E Mudra loans can be availed from any bank or non banking financial institution. You can apply for SBI Mudra Loan through any SBI branch or through their website.
Following are the key features of e SBI mudra loan:
Also Check: SBI Free CIBIL Score
The mudra loan interest rate SBI is competitive and is linked to the current MCLR of the bank. For banks, the Reserve Bank of India (RBI) has put a cap on the interest rate at Base rate or MCLR for lending micro units by commercial banks.
|Rate of interest||Linked to MCLR & ranges from 8.40% to 12.35% p.a.|
|Processing fee||Nil for Shishu & Kishore and 0.50% + applicable tax for Tarun|
Additional Info: Check Sukanya Samriddhi Yojana scheme for your girl child.
If you are looking for State Bank of India mudra loan online apply with the following steps:
Additional Info: Also, check PSB Loans in 59 Minutes is a quick business loan portal for start ups.
Following mudra loan documents SBI bank will require to apply for SBI e-Mudra Loan:
Documents required for Shishu Mudra Loan:
Documents required for Kishore and Tarun Mudra Loan:
Additional Info: Check Startup Business Loan for new businesses.
Following are the SBI e mudra loan eligibility criteria:
Pradhan Mantri Mudra Yojana or PMMY scheme was launched by the Government of India in 2015 to promote the small enterprises in India. The up to Rs. 10 Lakhs under PMMY are guaranteed by Credit Guarantee for Micro Units (CGFMU) and is provided via National Credit Guarantee Trustee Company (NCGTC). Under PM mudra loan, the guarantee cover for 5 years is available and hence for advances offered under pradhanmantri mudra loan yojana the maximum tenure offered is 60 months. To apply for the loan, you can fill and submit the pradhan mantri mudra yojana application form in e-Mudra portal or Udyami Mitra Portal.
Note: Also Check SBI Anywhere Personal is the mobile banking application.
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Existing and new business enterprises in the Trading, Manufacturing, and Service sector, including allied agricultural activities are eligible for the loan. You can call the customer care team of the bank to know more about SBI mudra loan eligibility.
SBI e Mudra Loan interest rates are linked to MCLR and start from 8.40% p.a.
No guarantee is required for SBI mudra loan online as these loans are guaranteed by Credit Guarantee for Micro Units (CGFMU).
Yes. The eligible age limit for mudra SBI loan is 18 to 65 years.
Almost every bank in India can give Mudra loans, including the SBI Bank, ICICI Bank, HDFC Bank, and so on.
No, Credit score is neither required nor has any impact on mudra e loan.
Each category under pradhan mantri mudra yojana SBI has different loan limit as mentioned below: