SBI E Mudra Loan Apply Online 2023 | Loan amount | Interest rate | Required documents | Eligibility criteria

SBI E Mudra Loan Apply Online 2023: If you want help in expanding your small or micro business in India, you must do one thing, that is, “SBI E Mudra Loan Apply Online 2023.” It is the loan that is offered by the State Bank of India (SBI) under the scheme of the Mudra loan.

The main purpose of regulating this loan scheme is to provide some financial help to the needy ones who want to thrive well in the market. You can check to apply for this loan scheme through the official website of the SBI by entering some specific credentials.

With the help of the Micro Units Development and Refinance Agency (MUDRA) scheme, anyone can enhance their business by getting a specific amount of money through the government. It helps in manufacturing, trading, and other sectors so that they can improve well out there. Let us tell you that the MUDRA loan is available in both forms, i.e., secured and unsecured forms.

You can choose as per your choice and your eligibility. The loan amount can range from Rs. 50000 to Rs. 1 lac, along with a repayment tenure of 12 to 60 months. The loan amount and repayment tenure are based on the eligibility of the individual.

If you are interested in SBI E Mudra Loan Apply Online 2023, you must have a proper plan, identity proofs, and various other required documents. After collecting all the documents, you need to visit the official website of SBI, or you can visit your nearest SBI branch in person. For more details, you can read this article till the end to grab all the latest and updated information regarding the scheme.

Overview of SBI E Mudra Loan Apply Online 2023

Let us check out the complete overview of the SBI E Mudra Loan Apply Online 2023 in the following section, where you can find each and every detail regarding the MUDRA loan. So, scroll down and get your information:

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ParticularsDetails
Scheme nameSBI E Mudra Loan 2023
Regulated byState Bank of India (SBI)
Rate of interestAccording to the eligibility
Purpose of the loan schemeTo provide help to the small or micro business sector
Eligibility criteriaMust have existing business plans
Loan amountAccording to the eligibility
Type of the loanWorking capital and term loan
MarginUpto Rs 5000 – Nil
From Rs. 50001 to 1000000 – 10 Percent
Required documentsIdentity proofs, bank statements, etc.
Started date of the scheme2023
RepaymentSixty months
Processing time of the loan2 to 5 working days
ModeOnline mode
Official websitesbi.co.in
CategoryGovernment Scheme

Know about features: SBI E Mudra Loan Apply online 2023

SBI E Mudra Loan Apply Online 2023
SBI E Mudra Loan Apply Online (2023)

Let us check out the specific features of the SBI E MUDRA loan scheme in the below section:

  • The type of loan is a term loan.
  • The maximum loan amount offered by the SBI is up to RS. One lakh
  • The repayment tenure of the MUDRA E loan amount is up to 60 months, that is, 5 years.
  • There is no processing and margin fee in the loan scheme.
  • It is reviewed by the authority once a year.
  • It requires valid documents to SBI E Mudra Loan Apply online 2023 such as an Adhaar card, etc.
  • It contains waived insurance.
  • It takes three to five working days to disburse the loan amount.

Eligibility criteria: SBI E Mudra Loan Apply online 2023

Let us know about the eligibility criteria of the SBI E MUDRA loan scheme with the help of the below segment:

  • Applicant must have an existing small or micro business entity for SBI E Mudra Loan Apply online 2023.
  • Applicant must have the account in the SBI branch for at least 6 or more months.

SBI E Mudra Loan Apply Online 2023: Steps

With the help of the following steps, anyone can apply for the SBI E MUDRA loan scheme. So, if you are interested in applying for this loan scheme, you must scroll down and read all the steps:

Step 1:

You need to open the SBI’s official website on your desired device, that is, sbi.co.in

Step 2:

Now, click on the loan and find out the MUDRA loan option here.

Step 3:

Provide all the required documents here, along with credentials details.

Step 4:

Check your filled application form once in order to eliminate the mistakes. Then, you can submit the form by clicking the submit button.

Step 5:

After sending the application form, you will receive the reference number from the SBI.

Step 6:

Finally, the bank will check and review your filled application form and get back to you within 3 to 5 working days for the disbursement of the loan.

Loan amount of SBI E MUDRA loan scheme: SBI E Mudra Loan Apply online 2023

Under the SBI E MUDRA loan scheme, any interested and eligible individual can get a maximum loan amount of up to Rs. 10,00000. Apart from this, there are some specific categories through which the SBI decides the loan amount. Let us check out these categories of the SBI E MUDRA loan scheme below:

1. Shishu category:

Under the Shishu category, an individual can get Rs. 50000 for starting up the business.

2. Kishore category:

Under this category, any applicant can get between Rs. 5000 to Rs. 500000. And it is valid only for those who already have a well-established business entity.

3. Tarun category:

Any individual can get between Rs. 500000 to Rs. 1000000 under this category. It is valid for people who want higher amounts to expand their existing business.

Interest rate under various categories: SBI E Mudra Loan Apply online 2023

Let us check out the interest rate under various categories in order to SBI E Mudra Loan Apply online 2023:

CategoriesLoan Amount in Rs.Margin  rateInterest Rate
SHISHU categoryRs 50000Nil9.75 Percent
KISHOR categoryRs 50000010 Percent9.75 Percent
TARUN categoryRs 100000010 Percent9.75 Percent

Required documents: SBI E Mudra Loan Apply online 2023

Let us have a look at the required documents for SBI E Mudra Loan Apply Online 2023

  • PAN card
  • Adhaar card
  • Name of the business
  • Business address
  • Offered services by this business
  • Details of the business and its papers

Important Links:

Official websiteClick here
Our websiteClick here

Final words

We have discussed everything about the SBI E Mudra Loan Apply Online 2023 in our above article. You can read this page till the end to grab all the detailed knowledge of this MUDRA loan scheme. In the above article, you can find a complete overview, eligibility criteria, features of the loan scheme, steps to register, required documents, and various other important stuff related to the MUDRA loan scheme.

So, if you want to apply for this scheme, you must know the steps and these steps we have mentioned in the article above. Here, we are advising all the applicants to go through the entire article provided above to stay updated without going anywhere.

FAQs


1. What documents are required for SBI E Mudra Loan Apply Online 2023?

You need your valid Identity proof, Adhaar card, business plan, etc., to apply for the MUDRA loan scheme.

2. What is the processing time of the MUDRA loan scheme?

The processing time of the MUDRA loan scheme is 3 to 5 working days.

3. What is the repayment duration of the MUDRA loan scheme?

The repayment duration of the MUDRA loan scheme is sixty months.

4. What is the primary purpose of the SBI’s MUDRA loan scheme?

The primary purpose of SBI’s MUDRA loan scheme is to provide financial help to small or micro business entities.

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