State Bank of India – SBI Mudra Loan

State Bank of India - SBI Mudra Loan

SBI Mudra Loan Under the direction of the Micro-Units Development and Refinance Agency, SBI Mudra Loans are business loans and working capital loans made available to individuals, self-employed professionals, and Micro, Small & Medium Enterprises (MSMEs) (MUDRA). SBI provides business loans and MSME loans up to Rs. 10 lakh under the Mudra programme. Online applications and availabilities for SBI e Mudra loans are available for amounts up to Rs. 1 lakh with terms of up to 5 years.

SBI Mudra Loans can be utilised for a variety of working capital needs, including improving cash flow, buying supplies, stocking up on inventory, paying rent, financing business development, and other operations-related goals. Individuals, MSMEs, companies, and organisations working exclusively in the service, manufacturing, and trade sectors are granted SBI Mudra loans and e Mudra loans. The SBI Mudra Loan has the qualities listed below:

SBI MUDRA Loan – Highlights – October 2022

Interest RateCompetitive rates
linked with MCLR*
PurposeBusiness purpose,
capacity expansion,
Loan AmountUp to Rs.
10 lakh
Loan TypeTerm Loan
Working Capital Loan
Target GroupBusiness Enterprises in Manufacturing,
and Services sector including
allied agricultural activities
Processing Fee & ChargesNil for Shishu and
Kishor to MSE UnitsFor Tarun: 0.50% of the
sanctioned loan amount + taxes
Prepayment ChargesBetween 3 – 5 years (moratorium of up to 6 months)
depending on the activity/income generationReview
of WC/TL to be done annually
MarginUp to Rs. 50,000 Nil and From
Rs. 50,001 to Rs. 10 lakh is 10%
Collateral SecurityNil
*SBI 1 year MCLR with effect from 15th September 2022 is 7.70%.

Features of SBI Mudra Loan

e-Mudra Loan By accessing the SBI e-MUDRA site and following the instructions listed below.

Nature of facility :
Term loan and working capital

Purpose :
Modernisation, business capital, expansion

Target group :
People who work in the agricultural industry and those belonging to the trading sector.

Quantum of loan :

  • Maximum loan amount: Rs.10 lakh
  • Loans up to Rs.50,000 is under SHISHU category
  • Loans from Rs.50,001 to Rs.500,000 is under KISHORE category
  • Loans from Rs.500,001/- to Rs.10,00,000/- is under the TARUN category

Repayment period :
3 –5 years

Processing fee :

  • Nil for Shishu and Kishore loans
  • 0.5% of the loan amount for Tarun loans

Margin :

  • Nil for loan up to Rs.50,000
  • 10% for loan amount from Rs.50,001 to Rs.10 lakh

Pricing :
Pricing linked to MCLR

Collateral security :
There is no collateral required. There is also a CC as a primary security.

Eligibility criteria :
New and existing units

Other conditions you must be aware of :

  • The loan that you avail under Mudra Scheme is guaranteed by Credit Guarantee for Micro Units (CGFMU) and provided by National Credit Guarantee Trustee Company (NCGTC).
  • The cover is available for 5 years and hence the advises granted is for 60 months.
  • You can view the leads on Udyami Mitra Portal.
  • All CC account holder will be issued a Mudra RuPay card by their respective branches.

SBI e-Mudra

Customers with active SBI savings and current accounts can now submit an online loan application.
On the SBI e-Mudra platform, loan applications up to Rs. 50,000 can be filed. :-

Documents Required for SBI Mudra Loan

The following papers must be on hand while submitting an online e-Mudra loan application.
The files must be in the JPEG, PNG, or PDF format and cannot be larger than 2MB.
The records must be a photocopy or scanned copy of one of the items listed below:

  • GST registration certificate
  • Shop & Establishment certificate
  • Udyog Aadhaar
  • Any other document of business registration

Details Required (SBI Mudra Loan)

Make sure to have your applications and documents ready.

  • Your SBI savings/current account number
  • Aadhaar number: This is voluntary and is required to complete the e-KYC process instantly through the mobile app. However, if you do not wish to provide your Aadhaar number online, your application will be manually processed at the SBI branch.
  • The business details (name and address) are used to verify your business location.
  • Religion and community: This is a part of SBI’s credit policy.
  • Sales figures: Sales turnover figures.
  • Your business account is where your sales proceeds get credited.

Online Application Process steps (SBI Mudra Loan)

  • Check the SBI e-Mudra portal.
  • Click on the ‘Apply Now’ button on the homepage.
  • Read the instructions given in Hindi or English and click on ‘’Ok’’ to proceed to the next page.
  • Fill in your mobile number, SBI savings/current account number, and required loan amount.
  • Click on ‘Proceed’.
  • Fill in the details required in the online application form. You can also select the relevant data through the dropdown menu.
  • Upload the necessary documents.
  • Accept the SBI e-Mudra Terms and Conditions with an e-Sign. To do this:
  • Input your Aadhaar number.
  • Tick on the consent check box for using your Aadhaar for purposes of the e-Sign.
  • You will receive an OTP to your mobile number registered with your Aadhaar.
  • Enter the OTP in the required field to complete your application.

SBI gives you quick approvals through the e-Mudra facility.

Particulars of the Pradhan Mantri Mudra Yojana scheme:

Loan AmountLoan TenureInterest RateProcessing Fee
* Tia: Up to Rs.50,000
* Piyush: Between Rs.50,001 and Rs.5 lakh
* Varun: 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 MCLRNil for Kishore and Shishu loans; 0.50% plus tax for Tarun

Who Can Apply? (SBI Mudra Loan)

  • Currently, both existing and new units can avail of the Pradhan Mantri Mudra loan.
  • Business enterprises engaged in manufacturing goods may also avail this loan.
  • PMMY loan is available to individuals working in the trading sector.
  • The financing for agricultural activities can be applied for.

Why do people apply for the Pradhan Mantri Mudra scheme?

  • Microenterprises in India are benefited financially from PMMY scheme.
  • PMMY is available for individuals with limited funds.
  • The PMMY scheme helps to generate employment.

How to Apply for SBI e-mudra loan online?

  • Read the loan’s terms. You should know the fees that you would have to pay once you borrow the loan.
  • You can check if you qualify to apply for the scheme if you meet the eligibility criteria specified by the lender.
  • Reach out to State Bank of India to apply for the loan.
  • A few documents is needed to fill up an application form.
  • Your application will be verified if you post this. Once the loan is approved, it will be deposited in your account.

You must begin making payments to the lender as soon as you get the loan amount. To prevent any issues and have a positive borrowing experience, it is in your best advantage to return the loan in accordance with the timetable set forth by the lender. You can get in touch with the lender using one of the customer service channels listed on the lender’s website if you have any questions about the Pradhan Mantri Mudra Yojana plan.

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