SBI Mudra Loan refers to the business loans and working capital loans offered to individuals, self-employed professionals, and Micro, Small & Medium Enterprises (MSMEs) under the guidance of the Micro-Units Development and Refinance Agency (MUDRA). Under the Mudra scheme, SBI offers business loans and MSME loans of amount up to Rs. 10 lakh. SBI e Mudra loan can be applied and availed online for amount up to Rs. 1 lakh with repayment tenure of up to 5 years.
Features of e-Mudra, Requisite documents for Applying Loan
- Should be a micro entrepreneur.
- Should be an existing CA/SB Account holder of SBI, minimum 6 months old.
- Max eligible Loan amount- Rs.1.00 Lakh
- Maximum Loan period-5 Years
- Instant availability of loan up to Rs.50,000/- based on Bank’s eligibility norms.
- For loan above Rs.50,000/-, customer to visit Branch for completing formalities.
- Savings/Current Account number and branch details.
- Proof of Business (Name, Start date & Address)
- UIDAI- Aadhar Number (should be updated in A/c Number).
- Community details (General/SC/ST/ OBC/ Minority)
- Other information for uploading like: GSTN & UDYOG Aadhar
- Proof of Shop & Establishment or Any other Business Registration document (if available).