Mudra loan can help you if you want to start self-employment and you need money urgently. People who have a savings account or current account with State Bank (SBI) can avail an e-Mudra loan of up to Rs 50,000 from SBI.
The best thing about e-MUDRA loan is that you don’t need to visit a bank branch for it. For that you can apply online at home. SBI is providing e-Mudra loans up to Rs 50,000 in just 3 minutes to its customers without any documents. More information is given by Sbi e Mudra Loan Apply Online article.
Sbi e Mudra Loan Apply Online
Pradhan Mantri Mudra Loan Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 to provide loans up to 10 lakhs to non-corporate, non-agricultural small/micro enterprises. This loan is classified as MUDRA loan under PMMY.
These loans are provided by commercial banks, RRBs, small finance banks, MFIs and NBFCs. Borrower can approach any of the lending institutions mentioned above or apply online through this portal www.udyamimitra.in.
Highlight of Sbi e Mudra Loan Apply Online
| Name of the scheme | Pradhan Mantri Mudra Loan Yojana (PMMY) |
| Who initiated the plan? | A scheme launched by the Hon’ble Prime Minister to provide loans up to 10 lakhs to non-corporate, non-agricultural small/micro enterprises. |
| When did the scheme start? | April 8, 2015 |
| OBJECTIVES OF THE PLAN | The scheme was launched to help small scale companies in India to grow and reach success. |
| Sbi E mudra loan | More Details… |
Under the auspices of PMMY, MUDRA has developed three products namely ‘Shishu’, ‘Kishor’ and ‘Tarun’ to indicate the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur.
Also provides a reference point for graduation/next stage of growth.
Sbi e Mudra Loan Apply Online: Let us tell you that e-Mudra loan is given only to small businesses. For that you need to have at least 6 months old current or savings account with SBI Bank. The maximum tenure of e-Mudra loan is 5 years. But if you want to take a loan of more than 50,000 rupees, then you have to go to the bank branch and complete the necessary process. For that you have to provide documents and business details as well.
In e-Mudra loan, small businessmen can take a loan of up to one lakh rupees. But it will require some documents.
This document will be required
To apply for an e-Mudra loan above 50 thousand rupees, the following documents will be required:
- You have to provide your savings account or current account number and branch details.
- Apart from this, it is also necessary to provide proof of any business or business you are doing.
- Aadhaar number should be linked with your bank account.
- Apart from this, the GSTN number and business registration document along with the shop or business scale will also have to be shown to the bank.
- Caste proof letter also has to be provided if you come from reserved category.
How to Sbi e Mudra Loan Apply Online
Existing customers of SBI, maintaining Savings Bank or Current Account (Individual), Rs. Can apply for e-Mudra loan amount up to 50,000. Sbi e Mudra Loan Apply Online can be done online on their official website or by clicking on the SBI e Mudra Loan link. Applicant’s age should be between 18 to 60 years. Deposit account should be active for at least 6 months.
Others can contact the nearest branch of SBI to submit the application.
By visiting the SBI e-Mudra portal and following the below-mentioned steps:
- Select Pradhan Mantri Mudra Yojana Application Form from the drop-down menu.
- Visit SBI official website https://emudra.sbi.co.in:8044/emudra and click on ‘Proceed’
- Provide the necessary details like applicant’s Aadhaar card for e-KYC purposes by UIDAI, as loan processing and disbursement needs to be completed through e-KYC and e-sign OTP authentication.
- Once the SBI formalities and the loan process are completed, the applicant will receive an SMS telling them to return to the e-Mudra portal to initiate the further process.
- This process needs to be completed within 30 days after receiving the loan sanction SMS.
Sbi e Mudra Loan Apply Online – Contact Details
| Objects | Link & Helpline |
| Mudra Office | SWAVALAMBAN BHAVAN, C-11, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI – 400 051 |
| Mudra Helpline | 1800 180 1111 1800 11 0001 |
| SBI Helpline | 1800 1234 1800 2100 1800 11 2211 1800 425 3800 080-26599990 |
Can Sbi e Mudra Loan Apply Online?
Yes, Sbi e Mudra Loan Apply Online can be done.
How can I get a loan amount of Rs 50,000 from SBI?
You can either apply for a direct loan from SBI or get a Mudra/e-Mudra loan from SBI to get a loan amount up to Rs.50,000.
What is a Mudra Card?
Mudra Card is a debit card that can be used to withdraw money in portions from the total sanctioned loan. It shall be used as a debit-cum-ATM card to withdraw amounts to make business purchases.
What is the repayment period of Mudra Loan?
Typical repayment terms range from 12 to 60 months.
What is the Mudra Loan processing time?
Processing time is 24 hours.
Who can apply for SBI Mudra Loan?
Business enterprises involved in manufacturing, trading and service sectors, including allied agricultural activities can apply for Mudra loans from SBI.
Is there any offline method to get Mudra Loan?
Yes, many banks offer this facility. You can visit any bank and the bank executive can help you in this.
What is the interest rate on Mudra Loan?
Reasonable interest rates are charged on Mudra loans as per RBI guidelines. And yes no more than 1% interest is charged monthly.
Can a disabled person apply for Mudra Loan?
Any eligible person can apply no discrimination with physically challenged people.
Can Mudra Loan be applied for buying a vehicle?
Yes, but this does not apply to private vehicles. You can buy any vehicle from the loan amount but use it only for public transport.
Will need to put anything as collateral to get Mudra Loan?
No, no collateral or third party security is required for availing loan under PM Mudra Yojana.
What is the full name of Mudra?
Mudra stands for Micro Units Development & Refinance Agency.
Last Word of Sbi e Mudra Loan Apply Online
The above information regarding Sbi e Mudra Loan Apply Online is for information only. It is not intended to advise taking or giving any loan. Be sure to consult your financial advisor before taking Sbi e Mudra Loan Apply Online. No agents or middlemen are engaged by them to avail Mudra loan. Avoid phone calls or agents of MUDRA/PMMY advising borrowers.
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