SBI Business Loan is available to large corporations as well as small scale and medium-sized businesses. The banking giant offers a wide range of commercial loans, including secured and unsecured business loans, with interest rates starting at 11.20% p.a. and a maximum term of 15 years. SBI also offers loans through government programs such as the PMEGP, Mudra Loan, and Stand-up-India. SBI's mid-corporate loans, which range from Rs. 50 Crores to Rs. 500 Crores are another unique offering. Working capital finance, project finance, corporate finance, dealer finance, and other funding methods are also available at SBI.
Whatever your business credit requirements are, the State Bank of India will undoubtedly be able to meet them. Depending on the loan scheme you apply for, you can get an SBI Business Loan worth up to Rs. 500 Crores. The SBI Business Loan provides longer monetary assistance against any leverage or security with a decent valuation, as well as a tailored loan application process to meet your specific business requirements.
At SBI, MSMEs can get loans with no collateral. State Bank of India offers collateral-free Business Loans with EMIs up to Rs. 1 Crore.
Here is the table containing the SBI Business Loan interest rates for 2023.
Processing Fee |
Amounts generally range from 1% to 5% of the loan amount sanctioned |
Securities |
Unsecured business loans do not require a credit check |
Loan Disbursement Timeframe |
Depends upon the type of loan |
Loan Amount |
Minimum of Rs. 10,000 and a maximum of Rs. 500 Crores |
Rate of Interest |
Determined by the type of loan, the individual's profile, and the business needs |
Duration of Repayment |
From 12 months to 5 years, with the possibility of extension based on business necessities |
Below is the table listing the different SME loans from SBI.
Type of Loan |
Aspect of Loan |
Loan Amount |
Processing Fee |
Repayment Duration |
Commercial Real Estate Asset-Backed Loan |
Overdraft on the dropline |
Up to Rs. 20 Crores |
1% of the limitations |
12 months to 72 months |
Credit for Export Packing |
Finance for pre-shipment |
Need-based |
As it relates to the cash credit limit |
Up to 180 days |
Loan Secured by Assets |
Overdraft on the dropline |
Up to Rs. 20 Crores |
1% of the limitations |
12 months to 180 months |
E-Dealer Financing Scheme |
Credit for working capital |
Need-based |
Up to Rs. 30,000 |
Up to 90 days |
Finance for Fleets |
Loan for a specific period |
Up to Rs. 10 Crores |
1% of the limitations |
Up to 66 months |
Scheme for E-Vendor Financing |
Credit for working capital |
Need-based |
Up to Rs. 50,000 |
According to the duration of payables |
Credit Card for Small Businesses |
Credit for working capital |
Up to Rs. 50 Lakhs |
Following the bank's instructions |
Up to 5 years |
SBI Overdraft Product |
Operating an A/C OD facility |
Up to Rs. 5 Crores |
1% of the loan amount |
12 months |
Simplified Small Business Loan (SSBL) |
Loan for a specific period |
Up to Rs. 25 Lakhs |
Rs. 7500 |
Up to 5 years |
Here are the ways through which you can apply for the State Bank of India Business Loan.
You can apply online for Business Loan by filling out the online application form on their website. Their Business Loan representative will get in touch with you and assist you with the paperwork and the rest of the process.
You can contact SBI customer service on their toll-free number to request a callback regarding the loan procedure.
You can also visit your nearest branch and apply for the SBI Business Loan offline.
The following documents are required for SBI Business Loans.
Completed application form and passport-sized photographs
KYC documents such as PAN Card, Passport, Aadhar Card, Driving License, Voter ID card, and Utility Bills
Last year's bank statement, along with ITR business address proof, and, if applicable, company incorporation certificate
Aside from these, SBI may require additional documentation.
Existing customers can strike a favorable deal if they have a good standing with the State Bank of India (SBI) and have a good credit score and cash flows.
You can check the status of your loan product by going to the SBI website or downloading the SBI loan app. To check the status of the loan that you have taken out, you will need to enter your reference number and the mobile number that you have registered with the bank.
The answer is yes. The SBI offers term loans for shops and offices in the amount of up to Rs. 20 Lakhs. The loan's interest rate is variable and based on the bank's base rate. Under the scheme, a person can get a repayment period of up to 7 years, including a 6-month moratorium period.
You can calculate your SBI business loan EMI by using this formula:
EMI = P x R x (1+R)^n/((1+R)^n-1)
The applicant's loan amount is denoted by the letter P.
The monthly interest rate is denoted by the letter R.
The repayment period specified by the bank is denoted by n.
You may contact SBI customer service through their 24/7 numbers i.e 1800 1234 (toll-free), 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990.