sbi mudra loan :- Small and micro-businesses play a crucial role in the Indian economy. To support them, the Government of India launched the Micro Units Development and Refinance Agency (MUDRA) scheme in 2015. State Bank of India (SBI) is one of the participating banks that offers MUDRA loans to eligible borrowers. In this blog post, we’ll take a closer look at SBI Mudra Loan and all its features.
Table of Contents
Eligibility Criteria – sbi mudra loan
- The business should be a micro-enterprise that is engaged in manufacturing, trading or service sector activities.
- The borrower should have a minimum of two years of experience in the same line of business.
- The loan amount should not exceed Rs. 10 lakhs.
Features and Benefits – sbi mudra loan
- Easy application process with minimal documentation
- Competitive interest rates
- Flexible repayment tenures
- No collateral required for loans up to Rs. 50,000
- Covers a wide range of business activities
- Available at all SBI branches
Documents required
- Proof of identity (PAN card)
- Proof of business (GST registration, shop and establishment certificate, sales tax registration, etc.)
- Proof of business address (utility bill, property tax receipt, etc.)
- Bank statement of the busines the last 6 months
Repayment Tenure:
The repayment tenure for SBI Mudra Loan ranges from 12 to 60 months.
Sbi Mudra Loan Online Apply
To apply for SBI Mudra Loan online, follow these steps:
- Visit the SBI official website (https://www.sbi.co.in/).
- Click on the “Loans” tab and select “Mudra Loan” from the drop-down menu.
- Fill in the online application form with your personal and business details.
- Upload the required documents, such as proof of identity, proof of business, bank statement, etc.
- Submit the form and wait for the bank to process your application.
- You will be notified of the loan approval status through email or SMS.
- If approved, sign the loan agreement and complete the disbursal formalities.
Note: The online application process is available only for existing SBI customers. If you’re not an SBI customer, you can visit your nearest SBI branch to apply for the loan.
Conclusion:
SBI Mudra Loan is a great financing option for small and micro-businesses. With easy eligibility criteria, flexible repayment options, and a hassle-free application process, it’s a convenient way to get the funds you need to grow your business. If you’re a small business owner, consider applying for an SBI Mudra Loan to take your business to the next level.
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