Whether your business is a micro, small scale, or a medium scale enterprise, SBI offers Mudra loan to meet various requirements of a business. The Micro-Units Development and Refinance Agency(MUDRA), offer funds at affordable interest rates to meet various requirements that include purchasing of machinery, purchasing of equipment related to production, commercial space, modernization.
Who can apply for SBI e-Mudra Loan?
Under the Mudra Yojana loans are offered for business loans, making it easier for the Non-Corporate Small Business Segment(NCSB) to avail these loans. People owning a shop, vendor selling fruit and vegetable, small food-service outlets, small repair shop owners, sellers of handloom products, street hawkers and others, both in rural and urban areas.
How to apply for the SBI e-Mudra Loan
The process to apply for E Mudra Loan is quite simple and hassle free. The bank has established a separate a page where an applicant can apply and submit the required documents accordingly.
Here are the steps below:
- Login to the SBI’s e-Mudra portal either using your mobile or computer
- Click proceed on the first page to begin
- On the next page, read the instructions to use the e-Mudra application and proceed with “OK”.
- Begin the process by entering the basic details: Registered Mobile Number and SBI Savings/Current account number, followed by the desired loan amount.
- The next page is displayed the detailed application form. Fill the details and choose using the drop- down menu.
- Upload the documents as directed on the page.
- Click on “I Accept” for terms and conditions followed by the e-sign.
- To proceed with e-sign, enter the details of the Aadhaar Card and verify using OTP.
- On verification, the loan application is forwarded to the MUDRA loan department.
SBI Mudra Loan 2020
| Interest Rate | 10.50% onwards |
| Processing Fee and charges | Nil for Shishu and Kishor to MSE Units. For Tarun:0.50% of the loan amount + taxes |
| Loan Amount | Up to Rs 10 lac |
| Eligibility Criteria | Existing and New Units |
| Pre-payment charges | Between 3-5 years(moratorium of up to 6 months) depending on the activity/income generation |
| Margin | Up to Rs 50,000 NIL and From Rs 50,001 to Rs 10lakh is 10% |
| Collateral Security | NIL |
| Residence Status | Residing in same society for last two years |
Types of E-Mudra Loan
- Shishu Loan – The loan amount is up to Rs 50,000 and there are no processing charges. It is aimed to meet the needs of micro units and small business owners get started with their business.
- Kishor Loan – SBI provides a loan of Rs 50,000 to Rs 5 lakh under this category. The borrowers must provide the necessary documentary evidence to show the status of the business when they submit the application for the Kishor loan.
- Tarun Loan – This SBI Mudra loan is given to businesses that need the larger funding to grow and/or establish their businesses.
Borrowers financed under Mudra Loan are provided with RUPAY Debit cards named Mudra Card for cash withdrawals and Pos Transactions under 3 categories named as Shishu, Kishor, and Tarun.
| Limit | Shishu | Kishor | Tarun |
| Daily Cash withdrawals | 10,000 | 15,000 | 20,000 |
| Daily POS Limit | 15,000 | 25,000 | 30,000 |
Tenure for SBI Mudra Loan Tenure –The purpose for which the financing is provided by the bank decided the tenure of the loan. SBI Mudra loan is repayable on demand if it was provided for working capital requirements (fund-based). For term loan and other business purposes, the SBI Mudra loan has a repayment period of 3-5 years, including the moratorium of up to 6 months given by the bank to the borrower.
Point regarding the SBI e-Mudra Loan
- The guarantee provided by the CGFMU and NCGTC are limited to a repayment tenor of under 5 years/60 months.
- SBI Mudra Rupay Cards to all the customers who have taken a loan under the Mudra Yojana.
- Under the Mudra Yojana, all the loans that are being offered are secured by the Credit Guarantee for Micro Units and also guaranteed by the National Credit Guarantee Trustee Company.
Details of the Three Types of SBI Mudra Loan
| Scheme Type | Shishu Loan | Kishore Loan | Tarun Loan |
| Loan Type | Term Loan | Term Loan/Working Capital | Term Loan/Working Capital |
| Amount | Rs 10,000 to Rs 50,000 | RS 50,000 to Rs 5 lakh | Rs 5 lakh to Rs 10 lakh |
| Repayment | 6-12 months | 12 to 36 months | 12-60 months |
| Processing Fee | Nil | 0.50% + Tax | 0.50% + Tax |
| Margin | Nil | 10.00% | 10.00% |
| Collateral | Nil | Nil | Hypothecation of Plant, Machinery, Stock and Receivables. |
SBI e-Mudra Loan Eligibility
- For loan amount above Rs 50,000 applicant needs to visit SBI’ nearest bank branch for loan formalities.
- Loan availability of Rs 50,000 as per directive of norm
- Maximum loan amount offered is Rs 1 lakh
- Maximum repayment period is up to 5 years
- Applicant must have account with SBI account for atleast 6 months
- Applicant must be a micro-entrepreneur
SBI Mudra Loan Eligibility –
- The applicant should be residing at the same location for atleast 2 years.
- Applicant must be engaged in a non-farm income generating activity, either in manufacturing or in the services sector.
- Applicant should not have defaulted on any loan availed earlier from any financial institution.
