How To Apply For SBI e Mudra Loan Online? For Any Business
I want to share details about the SBI e Mudra loan, a special initiative by the State Bank of India aimed at supporting micro and small enterprises. This scheme caters to businesses in manufacturing, trading, and services sectors, focusing on individuals lacking access to traditional banking services. SBI disburses the loan as cash credit, term loan, or overdraft, with repayment spanning 3 to 5 years. Now, I’ll explain how you can conveniently apply for the SBI e-Mudra loan online.
Table of Contents
Is SBI e mudra loan available now?
Yes, SBI e mudra loan is available now, and interested applicants can apply for it through the online portal. The entire application process is straightforward and user-friendly, making it easy for entrepreneurs to access the funding they need for their businesses.
How to fill SBI e-mudra loan online?
- To fill SBI e mudra loan online, follow these steps:
- Visit the official website of SBI e mudra loan (https://emudra.sbi.co.in:8044/emudra)
- Click on ‘Proceed Now’ button and select ‘English / Hindi’
- Select ‘E-mudra loan’ from the drop-down menu
- Fill in your personal and business details, such as name, address, email and phone number
- Choose the type of loan you require, such as cash loan, term loan, or overdraft
- Enter loan amount and repayment tenure
- Upload required documents like PAN Card, Aadhaar Card, Bank Statement and Business Registration Certificate
- Review the application form and submit it
- Once the bank reviews your application and verifies the documents, the loan amount will be disbursed to your bank account.
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Who is eligible for E Mudra loan?
To be eligible for an e mudra loan, you must fulfill the following criteria:
- You must be an Indian citizen
- You must be over 18 years old
- You must have a valid Aadhaar Card and PAN Card
- You must have a registered business entity, such as a sole proprietorship, partnership firm, private limited company, or limited liability partnership.
- Your business must be engaged in manufacturing, trading or service activities.
- The turnover of your business should not exceed Rs. 5 crore per annum.
- You should not have any defaulted loan account with any bank or financial institution.
| Features of E-mudra loan | Documents required for loan application |
|---|---|
| 1. Must be a small (micro) entrepreneur | 1. Savings/Current Account Number and Branch Details |
| 2. Must be a current/savings account holder of at least 6 months old with SBI | 2. Proof of business (Name, date of commencement and address) |
| 3. Maximum Loan Eligibility Amount – Rs.1.00 Lakh | 3. UIDAI – Aadhaar Number (must be updated in the account) |
| 4. Maximum loan tenure – 5 years | 4. Caste Details (General / SC / ST / OBC / Minorities) |
| 5. Instant availability of loan up to Rs.50,000/- as per the eligibility criteria of the bank | 5. Other details for upload like : GSTN & Udyog Aadhaar |
| 6. For loan amount above Rs.50,000/- customer will have to visit the branch to complete the formalities | 6. GSTN & Udyog Aadhaar |
| 7. Proof of shop and establishment or other business registration document (if available) |
Conclusion:
SBI e mudra loan is an excellent opportunity for small and micro entrepreneurs to meet their financial needs. The online application process makes it convenient for borrowers to apply for the loan and get it approved quickly. As long as you meet the eligibility criteria and have the required documents, you can apply for the loan and get funds to grow your business. However, it is important to note that the loan approval process depends on various factors, such as the creditworthiness of the borrower, business model and loan amount.
FAQs
What is SBI e-Mudra loan?
SBI e-Mudra loan is a special scheme designed by State Bank of India to provide financial assistance to micro and small enterprises.
What is the eligibility criteria for e-Mudra loan?
To be eligible for an e-Mudra loan, one must be an Indian citizen above 18 years of age with a valid Aadhaar card and PAN card, be a registered business entity, engaged in manufacturing, trading or service activities, and have up to Rs. is the business of 5 crore per annum.
How do I apply for SBI e-Mudra loan online?
To apply for SBI e-Mudra loan online, one needs to visit the official website of SBI e-Mudra loan, fill in personal and business details, choose the loan type, enter the loan amount and repayment tenure, and upload the required document. Once the bank reviews the application and verifies the documents, the loan amount will be disbursed to the borrower’s bank account.
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