anuragmukherjee28
Moderator
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.
- Recent telephone
- electricity bill
- property tax receipt
- Voter’s ID card
- Aadhaar Card
- Passport
- Certificate issued by a government authority, local panchayat, or municipality
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 )
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
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 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 |