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SBI E-Mudra Loan : Apply Online, Eligibility, Features, Helpline Number & Required Documents

Short Brief : SBI ई-मुद्रा लोन – [Apply Online] SBI E-Mudra Loan 2020 – Online Registration, Application Form, Helpline Number & Required Documents, Eligibility, Features, Benefit and Check Online Application Status at Official Websit emudra.sbi.co.in.

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Short Scheme Details
Name of Scheme: SBI E-Mudra Loan

Application Status: Active

Scheme Benefit: Loan

Table of Content
Published on: 06/08/2020
Updated on: 09/08/2020

 

SBI E-Mudra Loan 2020

SBI E-Mudra Loan 2020 Apply Online

Summary: The Pradhan Mantri Mudra Yojana (PMMY) is one such scheme that is operated by SBI. Pradhan Mantri MUDRA Yojana (PMMY) is a scheme initiated by the Honourable Prime Minister on April 8, 2015 to provide credit facility to Non-Corporate, Non-Farm MSME units with loans of up to Rs.10 lakh.

All Candidates who are willing to apply online application then download official notification and read all eligibility criteria and application process carefully. We will provide short information about “SBI E-Mudra Loan 2020” like Scheme Benefit, Eligibility Criteria, Key Features of Scheme, Application Status, Application process and more.

SBI E-Mudra Loan 2020 – Overview
Name of Scheme SBI E-Mudra Loan
in Language SBI ई-मुद्रा लोन
Initiated By Pradhan Mantri Mudra Yojana (PMMY) 
Launched by State Bank of India
Beneficiaries Citizen of India
Major Benefit Loan
Scheme Objective Personal needs and for business requirements
Scheme under State Government
Name of State All India
Post Category Scheme/ Yojana
Official Website https://sbi.co.in/
Important Links
Event Links
Apply Online Registration Login
Notification Click Here
SBI E-Mudra Loan 2020 Official Website

SBI e-Mudra

Existing SBI savings and current account holding customers can now apply for the SBI Mudra loan online. Loan applications for up to Rs.50,000 can be submitted on the SBI e-Mudra portal – https://emudra.sbi.co.in:8044/emudra.

  • Shishu Loan : Under this, the bank provides an amount of up to Rs 50,000 / – in the form of Shishu Loan {Loan}.
  • Kishor Loan : Under Kishore loan, loans above Rs. 50,000 / – are given by the bank and up to Rs. 5 lakhs.
  • Tarun Loan : Loans above Rs 5 lakh and up to Rs 20 lakh are given under Tarun loan.

Particulars of Pradhan Mantri Mudra Yojana scheme:

Loan Amount Loan Tenure Interest Rate Processing Fee
  • Shishu: Up to Rs.50,000
  • Kishore: Between Rs.50,001 and Rs.5 lakh
  • Tarun: Between Rs.5,00,001 and Rs.10 lakh
3 years to 5 years (moratorium period of up to 6 months may be offered) Linked to the MCLR Nil for Kishore and Shishu loans; 0.50% plus tax for Tarun

{PMMY} Mudra loan Granting Banks and Institutions

  • There are 27 public sector bank loans under Pradhan Mantri Mudra Yojana (PMMY)
  • 17 private sector banks also provide SBI Mudra loans.
  • 4 Cooperatives, by 31 Regional Rural Banks
  • Apart from 36 microfinance institutions
  • 25 non-banking financial institutions

Apply Online : SBI E-Mudra Loan Application Form

  • Please Input or select through drop down menu and fill application form.
  • Please provide Aadhaar No. for e-KYC through UIDAI (User to ensure his present Mobile Number is linked with Aadhar (For OTP purposes) since e-KYC, e-Sign has to be completed through OTP authentication for processing and disbursement.
  • For Above 50,000 to Rs. 1 lacs, applicant to visit Branch where his SBI Saving/ Current Account is maintained and complete document signing formalities. Upon Completion of formalities, you will receive SMS in your mobile number advising to initiate further process viz. account opening & Disbursement by revisiting e-MUDRA portal. The process needs to be completed within 30 days after receipt of SMS of loan sanction.

Note:

The documents to be uploaded should be in PDF/ JPEG / PNG format, maximum size 2MB.

Step to Apply Online SBI E-Mudra Loan 2020

Step 1- Visit the Official Website SBI E-Mudra Loan i.e. https://sbi.co.in/.

Step 2- Click on the button ‘Proceed’ on the homepage.

Step 3- Read the instructions given in Hindi or English and click on ‘’Ok’’ to proceed to the next page.

Step 4- Fill in your mobile number, SBI savings/current account number, and required loan amount.

Step 5- Click on ‘Proceed’.

Step 6- Fill in the details required in the online application form. You can also select the relevant data through the dropdown menu.

Step 7- Upload the necessary documents.

Step 8- Accept the SBI e-Mudra Terms and Conditions with an e-Sign. To do this:

Step 9- Input your Aadhaar number.

Step 10- Tick on the consent check box for using your Aadhaar for purposes of the e-Sign.

Step 11- You will receive an OTP to your mobile number registered with your Aadhaar.

Step 12- Enter the OTP in the required field to complete your application.

SBI’s e-Mudra facility makes it easier to get your loan sanctioned with minimal documentation and faster approvals.

E-Mudra Loan Scheme Interest Rates

The interest rates under the Mudra Loan scheme can vary according to the functioning of different banks. Normally banks charge an annual interest rate of 12% in Mudra loan scheme, but if the government receives capital subsidy on the basis of its business risk, then this subsidy can be linked to Mudra Loan. One big thing in this is that in general, no subsidy is given by the government under the Mudra Scheme.

Important Document

Required Document to Apply Online

i. Savings/Current Account number and branch details.

ii. Proof of Business (Name, Start date & Address)

iii. UIDAI- Aadhar Number (should be updated in A/c Number).

iv. Community details (General/SC/ST/ OBC/ Minority)

v. Other information for uploading like:

GSTN & UDYOG Aadhar

Proof of Shop & Establishment or Any other Business Registration document (if available).

Eligibility Criteria

Beneficiary Guidelines

  • The borrower should be between 18 and 60 years of age.
  • The deposit account should have been active for a minimum of 6 months.

Application Rejection of Mudra

  • Proper documents should not be given by the applicant in the Mudra Loan application.
  • If the bank does not see better prospects in your project in future.
  • The applicant has already taken a business loan.
  • The applicant is a defaulter or insolvent.
  • The applicant is not able to fulfill the required qualifications of Mudra Loan.

Key Features of Scheme

Scheme Feature

i. Should be a micro entrepreneur.

ii. Should be an existing CA/SB Account holder of SBI, minimum 6 months old.

iii. Max eligible Loan amount- Rs.1.00 Lakh

iv. Maximum Loan period-5 Years

v. Instant availability of loan up to Rs.50,000/- based on Bank’s eligibility norms.

vi. For loan above Rs.50,000/-, customer to visit Branch for completing formalities.

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