SBI E Mudra Loan
State Bank of India (SBI), a leading public sector bank in India, offers a number of SME loans, including the PM Mudra (Micro Units Development & Refinance Agency) Yojana, also known as PMMY. Under this scheme, borrowers can get a business loan of up to Rs. 10 Lakhs (up to Rs. 20 Lakhs as per a Budget announcement and Official Gazette of 24 October 2024) for up to 7 years tenure. This government scheme is launched for the purpose of the development and refinancing of small/micro-enterprises. SBI also offers instant loans of up to Rs. 1 Lakh through the SBI e Mudra Loan facility.
Key Features of SBI Mudra Loan
The following are some key features of the SBI Mudra Loan:
Rate of interest | Linked to the EBLR |
Purpose | Modernisation, business expansion, and capital |
Target group | People belonging to the trading sector, part of business enterprises, and agricultural activities |
Nature of facility | Term Loan and Working Capital |
Maximum loan amount | Rs. 1 Lakh (for loan above Rs. 50,000, the customer needs to visit the branch to complete formalities) |
Maximum tenure | Up to 5 years |
Processing fees | Nil for Shishu & Kishore Loans and 0.5% of the loan amount for Tarun Loans |
Margin | Nil for loans up to Rs. 50,000 and 10% for loans above Rs. 50,000 |
Collateral security | Not required |
Eligible units | New and existing units |
SBI Mudra Loan Interest Rate
SBI has not disclosed the specific SBI Mudra loan interest rates. However, the PM MUDRA Yojana rates are linked to the External Benchmark Lending Rate (EBLR). SBI has specified the interest rate for the PMMY scheme for agriculture, which is 11.75% p.a
Types of SBI e Mudra Loans
Under the aegis of PMMY, MUDRA includes three product types, viz. 'Shishu', 'Kishore', and 'Tarun'. Each category signifies the stage of growth, development and funding needs of the beneficiary micro unit and also provides a reference point for the next phase of graduation/ growth.
Types of Mudra Loan | Maximum Loan Amount | Margin | Rate of Interest | Processing Fee | Tenure |
---|---|---|---|---|---|
SHISHU | Up to Rs. 50,000 | Nil | Linked to EBLR | Nil | Up to 5 years, including a moratorium period of up to 6 months |
KISHORE | Rs. 50,001 to Rs. 5,00,000 | 20% | Linked to EBLR | Nil | Up to 5 years, including a moratorium period of up to 6 months |
TARUN | Rs. 5,00,001 to Rs. 10,00,000 | 20% | Linked to EBLR | 0.50% of the loan amount + applicable tax | Up to 7 years, including a moratorium period of up to 12 months |
Benefits of e-Mudra Loan SBI
The following are the benefits of applying for the PMMY loan from SBI:
- Microenterprises in India have better access to funds with the PMMY scheme.
- Individuals in need of funds for their business requirements can get loans under PMMY at an affordable interest rate.
- The PMMY scheme helps in employment generation and GDP growth.
- The processing fee applicable for the PMMY scheme is comparatively low.
SBI e Mudra Loan Eligibility Criteria
- New and existing micro-entrepreneurial units can apply for the e-Mudra Loan in SBI.
- The applicant should be an existing Savings/ Current Account holder of SBI, with a minimum of 6 months' old.
- The loan availed under the Mudra Scheme is guaranteed by Credit Guarantee for Micro Units (CGFMU) and provided by the National Credit Guarantee Trustee Company (NCGTC).
- All credit card account holders will be issued a Mudra RuPay card by their respective branches.
- For loans above Rs. 50,000, customers need to visit the branch to complete formalities.
- The maximum eligible loan amount under e-Mudra is Rs. 1 Lakh.
- Maximum loan tenure is 5 years.
- Instant availability of loans up to Rs. 50,000 is based on the bank's eligibility norms.
Documents Required for SBI Mudra Loan
- Savings/Current Account number along with branch details.
- Proof of Business, including the name, start date, and address.
- UIDAI-Aadhar Number (should be updated in Account Number).
- Community details such as General/ SC/ ST/ OBC/ Minority.
- Proof of Shop & Establishment or other Business Registration document (if available).
- Other information for uploading, like GSTN and UDYOG Aadhar.
How to Apply for SBI e Mudra Loan Online
If you need an SBI e Mudra loan online apply instantly by following the steps given below:
- Visit the portal of SBI e-Mudra and then click the 'Apply Now' button on the homepage.
- Read the instructions (in Hindi or English) and click on the ''Ok'' tab to proceed to the next page.
- Enter your mobile number, SBI savings/ current account number, and the required loan amount.
- Now click on the 'Proceed' button.
- Fill in the required details in the online application form, or you can select the relevant data from the dropdown menu.
- Upload the required documents.
- Accept the SBI e-Mudra Terms & Conditions with an e-Sign. To do this, input your Aadhaar number and tick the consent check box.
- You will receive an OTP on your mobile number linked to your Aadhaar.
- Enter the OTP in the required space to complete your application.
FAQs
The e Mudra loan SBI is a digital financing scheme offered by the State Bank of India to support SMEs under the Pradhan Mantri Mudra Yojana (PMMY). It offers easy access to credit for individuals involved in manufacturing, services, and trade sectors, aiming to boost their economic growth, employment, and financial inclusion.
The e Mudra loan SBI 50000 interest rate is linked to the EBLR. PMMY related to agriculture interest rate starts from just 11.75% p.a.
Business enterprises engaged in the trading, manufacturing, and services sectors (including allied agricultural activities) can apply for the SBI e-Mudra Loan.
No, collateral is not required to apply for the SBI e-Mudra loan.
Under the SBI e-Mudra scheme, the maximum loan amount offered is Rs. 10 Lakhs, depending on the type of PMMY loan.
Yes, SBI still offers e-Mudra loans to existing and new units.
SBI e Mudra Loan interest rates are linked to MCLR and start from 11.75% p.a.
Yes. The eligible age limit for a mudra SBI loan is 18 to 65 years.
Each category under Pradhan Mantri Mudra Yojana, SBI has a different loan limit as mentioned below:
- Shishu: Maximum up to Rs. 50,000.
- Kishore: Minimum Rs. 50,001 and maximum up to Rs. 5,00,000.
- Tarun: Minimum Rs. 5,00,001 and maximum up to Rs. 10,00,000.


Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.


Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.