SBI e-Mudra

[anuragmukherjee28]

Pradhan Mantri Mudra Yojana (PMMY) ?​

The Pradhan Mantri Mudra Yojana (PMMY), also known as Mudra Loan Yojana, is a scheme launched by the Government of India to provide financial support to non-corporate, non-farm small/micro enterprises.
Important points related to PM Mantri Mudra Yojna

• The loan amount can get up to Rs. 10 lakh.
• Loan categories-
  • Shishu: Loans up to Rs. 50,000
  • Kishore: Loans from Rs. 50,001 to Rs. 5 lakh
  • Tarun: Loans from Rs. 5,00,001 to Rs. 10 lakh
• Eligible businesses- Income-generating micro and small enterprises in manufacturing, trading, and service sectors, activities related to agriculture like poultry, dairy, beekeeping,etc

What is SBI e-Mudra ?​

You can apply for a Mudra loan through commercial banks, regional rural banks (RRBs), small finance banks (SFBs), cooperative banks, micro-finance institutions (MFIs), and non-banking financial companies (NBFCs). Today, in this article, we are going to learn the details related to the Mudra Loan that was applied for by the State Bank of India.
SBI e-Mudra is a loan product offered by State Bank of India (SBI) under the Pradhan Mantri Mudra Yojana (PMMY) scheme.

SBI e-Mudra Yojana Eligibility Criteria ?​

To be eligible for an SBI e-Mudra Loan, the following criteria must be met.

• An Indian citizen has a minimum age of 18.
• The applicant must work in a recognised field to be eligible for the e-Mudra Loan.
• The company should have a solid credit rating with no credit/loan lapses or arrears.
• The applicant should have all of the necessary documents and information for the loan application.

Documents Required for availing SBI e-Mudra Yojana?​

Any one of the documents is required in each category:-

ID Proof-

• Voter’s ID card
• Driving Licence
• PAN Card
• Aadhaar Card
• Passport
• any other photo ID issued by the government.

Residence Proof-

• Recent telephone
• electricity bill
• property tax receipt
• Voter’s ID card
• Aadhaar Card
• Passport
• Certificate issued by a government authority, local panchayat, or municipality

Photograph- 2 passport-size photographs of the applicant

Caste certificate- if you are from any minor group, this is applicable for you (SC, ST, OBC, or minority groups).

Bank Statement- Bank statements from the last six months are from the bank linked to the business.

Quotations for the proposed purchase of equipment or machinery- The application should be accompanied by a quotation for the machinery and other items that you need to grow your business.

Business Proof-

• Relevant licences
• Registration certificates
• Lease or rent agreements
• other documents that establish the ownership identity and address of the business unit.
• Businesses with a Udyog Aadhaar Memorandum can also submit it.
• UDYAM Certificate ( must for SBI e-Mudra )

Income Tax Documents- IT returns for the past two years for individuals and business entities should be submitted (if any).

Loan amount & Repayment Tenure of SBI e-Mudra Yojana ?​

SBI Pradhan Mantri MUDRA Yojana (PMMY) offers loan amounts of up to Rs 10 lakhs

• Shish -Up to Rs 50,000
• Kishor -Above Rs 50,000 to Rs 5 lakh
• Tarun -Above Rs 5,00,000 to Rs 10,00,000

Time period - up to 5 years

Interest Rate of SBI e-Mudra Yojana ?​

The interest varies from 1%-4%

Processing Fees for SBI e-Mudra Yojana?​

Processing Fees vary according to the list mentioned below

• Shishu and Kishore - 0%
• Tarun- 0.50% p.a. of the loan amount

How to Apply for SBI e-Mudra Online ?​

Existing SBI customers with a Savings Account or Current Account can apply for an e-MUDRA loan by accessing the SBI e-mudra portal and following the steps outlined below.

STEP 1- Visit the official website of the State Bank of India (SBI), the e-Mudra portal - https://emudra.bank.sbi:8044/emudra/basic-details
STEP 2- Select the Language in which you want to fill out the SBI e-Mudra Application form.
STEP 3- Provide the following details:-

• Mobile number ( complete the OTP verification)
• SBI savings/current account number
• Required Loan Amount

STEP 4- select the "proceed" option button
STEP 5- Now fill up all the required details of yours such as your name, address, Business name, etc
STEP 6- NOW Upload the necessary documents as mentioned in the portal.
STEP 7- Review the information that you have provided and click on the submit button.
STEP 8- Once you have applied, you will receive an application reference number.
STEP 9- After the verification process is completed by the SBI, the loan will be disbursed to your bank account.

Additional Benefits of SBI e-Mudra loan​

You can opt for RUPAY Debit Cards named as MUDRA Card for cash withdrawals & PoS transactions.

Limit	Shishu (Rs)	Kishor (Rs)	Tarun (Rs)
Daily cash withdrawal limits	10,000	15,000	20,000
Daily POS Limit	15,000	25,000	30,000