Hello,

Guest!

SBI E Mudra Loan

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.

Updated:

SBI E Mudra Loan Details 

Type of facility Working Capital & Term Loan
PurposeBusiness purposes like modernization, capacity extension, etc.
Target groupExisting and new business units in the Manufacturing, Trading, & Services sector 
Loan amountUp to Rs. 10 Lakhs
Tenure3 to 5 years
Interest rateCompetitive interest rate linked to MCLR
MarginUp to 10%
Processing feeUp to 0.50% + applicable tax
CollateralNil
Schemes under Mudra LoanShishu, Kishore, and Tarun

Also Check: Types of SBI Debit Card & their eligibility.

SBI E Mudra Loan

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.

Features & Benefits of SBI E Mudra Loan

Following are the key features of e SBI mudra loan:

  • Type of facility: The e mudra loan SBI is offered as Working Capital as well as Term Loan.
  • Purpose: SBI Mudra Loan can be used for business purposes, such as capacity expansion, modernization, etc.
  • Target group: Business enterprises working in the sectors of Manufacturing, Trading, and Services, including allied agricultural activities.
  • Loan amount: Maximum loan amount up to Rs. 10 Lakhs is available under e mudra SBI loan. Each category has 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.
  • Margin required: Nil for loans up to Rs. 50,000 and 10% for loans between Rs. 50,001 to Rs. 10 Lakhs.
  • Rate of interest: SBI mudra loan interest rate is competitive and is linked to the current MCLR.
  • Repayment tenure: The mudra loan SBI bank has to be repaid in 3 to 5 years, including a moratorium of up to 6 months, depending on the activity or income generation. The limit for Working Capital or Term Loan will be reviewed annually.
  • Processing fee: Nil for Shishu and Kishore to MSE Units, and 0.50% plus applicable tax for Tarun.

Note: know about the SBI Bank Mini Statement Number service.

SBI E Mudra Loan Interest Rate

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 interestLinked to MCLR & ranges from 8.40% to 12.35% p.a.
Processing feeNil for Shishu & Kishore and 0.50% + applicable tax for Tarun

Additional Info: Check Sukanya Samriddhi Yojana scheme for your girl child.

Online Procedure to Apply SBI E Mudra Loan

If you are looking for State Bank of India mudra loan online apply with the following steps:

  • Visit the SBI mudra loan online portal and click on the ‘Proceed’ button.
  • Click on the ‘Ok’ button after reading the instructions given in Hindi or English language.
  • Now, you will be redirected to a new page where you will have to enter some details like your mobile number, SBI savings or current account number, and required loan amount.
  • Click the ‘Proceed’ button after entering the required details.
  • Then fill the online SBI mudra loan application form and upload the required documents.
  • Accept the Terms & Conditions with an e-sign.
  • Provide your Aadhaar number to give consent for using your Aadhaar for e-sign.
  • Now, you will receive an OTP on your registered mobile number. Enter it in the given space to complete your loan application. 

Additional Info: Also, check PSB Loans in 59 Minutes is a quick business loan portal for start ups.

Documents Required for SBI for e-Mudra

Following mudra loan documents SBI bank will require to apply for SBI e-Mudra Loan:

Documents required for Shishu Mudra Loan:

  • Registration certificate for GST
  • Details of Udyog Aadhaar
  • Details of SBI Account
  • Shop & Establishment certificate

Documents required for Kishore and Tarun Mudra Loan:

  • Passport size photographs of the applicant
  • Identity proof, such as Voter ID, PAN Card, Aadhar, Passport, etc.
  • Residence proof, such as Passport, Utility Bills, Property Tax Receipt, etc.
  • Last 6 months’ bank statements
  • Quotation of price for purchasing equipment or machinery
  • Aadhaar and proof of establishment for business ID
  • Last 2 years’ Balance Sheet and Profit & Loss statement
  • Partnership deed & legal arrangement documents

Additional Info: Check Startup Business Loan for new businesses.

Eligibility for SBI for e-Mudra

Following are the SBI e mudra loan eligibility criteria:

  • Business enterprises in the Trading, Manufacturing, and Service sector, including allied agricultural activities are eligible for the mudra SBI loan.
  • 10% margin will be required for loans of Rs. 50,001 to Rs. 10 Lakhs.
  • Existing and new business units can apply for mudra loan online SBI bank.
  • Hypothecation of P&M for Term Loan and Hypothecation of Stocks & Receivables for Credit Card has to be done for primary security.

Pradhan Mantri Mudra Yojana Scheme

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.

Business Loan Offers

Get Kotak Mahindra Bank Business Loan up to Rs. 2 Crore online at interest rate starting from 16% p.a.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

SBI E Mudra Loan FAQs

Who can apply for SBI E Mudra Loan?

image

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.

What is the interest for e Mudra loan in SBI?

image

SBI e Mudra Loan interest rates are linked to MCLR and start from 8.40% p.a.

Is guarantee required for Mudra loan?

image

No guarantee is required for SBI mudra loan online as these loans are guaranteed by Credit Guarantee for Micro Units (CGFMU). 

Is there any age limit for Mudra loan?

image

Yes. The eligible age limit for mudra SBI loan is 18 to 65 years.

Which banks are giving Mudra loans?

image

Almost every bank in India can give Mudra loans, including the SBI Bank, ICICI Bank, HDFC Bank, and so on.

Does Credit score affect mudra loan?

image

No, Credit score is neither required nor has any impact on mudra e loan.

How much amount can we get from SBI E Mudra Loan?

image

Each category under pradhan mantri mudra yojana SBI has 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.