SBI E Mudra Loan Apply Guide with Interest rate, Process, Eligibility

SBI is the biggest bank in India and it is a government bank. The State Bank of India offers many schemes to help the people of India and SBI E Mudra scheme is one of them. The scheme comes under Pradhan Mantri Mudra Yojana (PMMY) that offers financial help to non-corporate and non-agricultural MSME up to Rs 10 lakh.

You can use the SBI E Mudra loan amount to set up a new business or other business activity. SBI E MUDRA means Micro Units Development and Refinance Agency Ltd which is a new government institution.

SBI E Mudra Loan

The SBI E Mudra loan scheme is open for customers with a savings or current bank account at the bank. You can apply for a loan for Rs. 5 lakhs or more online. The interest rate is variable, but the maximum term is five years. The loans are covered by the National Credit Guarantee Trustee Company and Credit Guarantee Fund for Micro Units. There is no collateral requirement for a Mudra Program loan, and the maximum repayment period is five years. The loan does not require any security, and the maximum tenure is six months, with a moratorium period of up to 6 months. There is an annual review of the loan, but there is no guarantee of approval.

SBI E Mudra Loan Guide

The SBI E Mudra Loan Key Points:

The SBI E Mudra loan is a good option for small businesses with a good credit score. However, the loan has a high-interest rate, so the repayment terms are reasonable. An SBI EMUDA loan is an excellent choice if you need to finance a business. There are many benefits to applying for a SBI EMUDRA loan. Aside from being free from credit card debt, you can save a lot of money.

Shishu

  • Loan Amount – Rs 50,000
  • Interest rate – 1%/month or 12%/year
  • Period: 15 years

Kishore

  • Loan Amount – Rs. 50,001 to Rs. 5 lakhs
  • Interest rate – May vary according to profile
  • Period: Upto 5 years

Tarun

  • Loan Amount – Rs. 5 Lakhs to Rs. 10 Lakhs
  • Interest rate – depends on the applicant’s credit history
  • Period: Upto 5 years

To apply for a loan under the SBI E Mudra scheme, a person has to fill out an online application. The application is free and is accepted by all banks in India. You can also apply for a loan if you have an Aadhar card. Then, you have to e-sign your application. You will need to have an OTP to complete the e-sign. Once you have verified your details, you can proceed with the next step.

To apply for an e-Mudra loan, you must be an existing customer of SBI. You will need to present your SBI account number and Aadhaar number. Then, you will need to provide your mobile number linked to Aadhaar. The OTP will be sent to this number and will be required to complete the e-KYC process. After verifying your details, the e-Mudra process will be completed and you will be able to use your new credit card at your bank.

Eligibility Criteria

For eligibility, the applicant must have a minimum score of 50 in the Mudra Scoring Card for Shishu. The applicant must be 18 years of age or above. To apply for the SBI E-Mudra scheme, existing SBI customers cannot be a customer. To apply for the loan, the applicant should go to the official website of the State Bank of India. Once the information is filled in, they must take a printout.

If you want to apply for this SBI E Mudra Loan scheme then you have to show your business model, profitability, and other important things.

If your business is already running then you can apply for Kishor and Tarun.

Also, the candidate must be between 18 and 60 years.

How to Apply for SBI eMudra Loan Online?

Here is a step-by-step procedure for the SBI eMudra Loan application.

First, go to the SBI e-Mudra portal using your browser and then click on the continue button.

Read the instructions and then click on OK to proceed.

Enter your mobile number, your SBI account number, and then enter the amount of money you want.

Then click on Continue and then provide all the information asked.

Download or upload required documents.

You have to accept terms and conditions and then enter your Aadhaar number.

Follow on-screen steps for eSign and then verify your OTP registered with your Aadhaar.

Other Details:

The SBI E Mudra scheme offers loans for individuals in need of funds. The maximum amount that can be borrowed is Rs. 5 lakhs. The bank decides the interest rate, but it is subject to the borrower’s debt-to-income ratio. The length of the loan depends on the lender’s discretion. The SBI E-Mudra Loan has no collateral. It is available online and through various financial institutions.

Limit  Shishu  Kishor  Tarun 
Daily cash withdrawal 10,000  15,000  20,000 
Daily POS Limit  15,000  25,000  30,000 

The SBI EMUdra application form will be given to the applicant. You should also submit the necessary documents. The application will take a few minutes. You should be able to get the loan within the next two weeks. When you apply for the SBI EMUdra scheme, you need to have an existing account with the bank.

A MUDRA application form is a web-based application form. In order to apply for the MUDRA scheme, you must have an SBI account and an Aadhaar number. You will need the Aadhaar number to complete the e-KYC. Aadhaar linked mobile numbers are required for instant e-KYC. You must follow the instructions in the application form.

The SBI E Mudra application form is meant for existing customers who already have an SBI account. Aadhaar linked mobile number is required to complete the e-KYC. Then, a user-friendly online form will be generated. Then, the applicant must pay back the loan amount within a year. The loan amount is generally between five to fifteen years. It is recommended to make payments in full every month.

The SBI e-Mudra application form is a very useful tool for businessmen. The SBI e-Mudra form makes it much easier to apply for a loan using the SBI e-Mudra facility. This online form is filled in by the applicant after he has uploaded the necessary documents. If all the information is correct, he will be notified within a few hours. The application process can take several hours to complete, so it is advisable to take your time and do not wait for long.

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