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SBI offers a number of different types of loans. Its loan portfolio includes both personal and business loans. These loans have been instrumental in helping both small and large businesses across the country flourish. 

 

SBI also offers a wide range of SME (Small Medium Enterprises) loans to help boost the growth of small and medium enterprises in India. One such scheme is the Pradhan Mantri Mudra Yojana (PMMY), under which the SBI Mudra and SBI e-Mudra schemes are offered. 

 

The PMMY is a scheme initiated by the government of India to provide credit facilities to non-corporate and/or non-farm MSMEs with loans of up to ₹10 Lakhs. The Pradhan Mantri Mudra Yojana is a collateral-free loan that can be used by individuals and business owners that require funds for developing or improving their MSMEs. This credit facility can also be used to set up a new business unit altogether or to expand or modernise existing business ventures. 

SBI Mudra Loan Highlights

Here are some of the key highlights of the SBI Mudra loan. 

Credit Nature

  • Working capital 

  • Term loan

Purpose

  • Capital for start-ups

  • Modernisation and/or expansion

  • purchase of now machinery and equipment 

Eligible Borrowers

Entrepreneurs and business owners looking to set up a new venture or expand/modernise their existing venture(s)

Maximum Loan Amount

Up to ₹10 lakh, in accordance with the loan category;

  • SHISHU - Loans of up to ₹50,000

  • KISHORE - Loans starting from ₹50,001 to ₹500,000

  • TARUN - Loans starting from ₹500,001 to ₹10,00,000

Repayment Tenure

3 to 5 years

Processing Fee

  • There are no processing fees for loans under the SHISHU and KISHORE categories

  • 0.5% of the loan amount for Tarun loans

Margin

  • Nil for loan up to ₹50,000

  • 10% for loan amount from ₹50,001 to ₹10 Lakh

Interest rates

Linked to MCLR rates

SBI E Mudra Loan Features

Here are some of the features of the SBI e-Mudra loan schemes: 

  • Applicants should be micro entrepreneurs.

  • It is required that all applicants of the SBI e-Mudra scheme should be an existing current or savings account holder of SBI. The account(s) should be at least six months old at the time of loan application. 

  • The maximum eligible loan amount under the e-Mudra scheme is ₹50,000. 

  • The maximum loan tenure under the e-Mudra scheme is 5 years. 

  • For loans of over ₹50,000, the borrower will have to visit their SBI branch and get in touch with a representative from the bank

SBI Mudra Loan Interest Rates

Loan Categories

Interest Rates 

SHISHU 

 

 

Linked to existing MCLR

KISHORE

TARUN

SBI E Mudra Loan Eligibility Criteria

  • If you already own a business and are looking to develop or modernise your existing venture, you may take an SBI Mudra loan. 

  • If you’re a micro entrepreneur, you may avail an SBI Mudra loan. 

  • If you’re a new business owner or startup founder looking to fund your business, you may apply for the SBI Mudra loan. 

  • If you’re engaged in any of the following sectors, you may avail a SBI Mudra loan:

    1. Manufacturing sector

    2. Trading and services sector

    3. Allied agricultural services sector

Documents Required for SBI Mudra Loan

Here are the documents and details you need to begin applying for the SBI Mudra loan: 

  • Proof of Business 

  • Savings and/or current account number and other account-related details

  • Community details 

  • UIDAI- Aadhar Number 

  • Other information for uploading like:

    1. GSTN & UDYOG Aadhar

    2. Proof of Shop & Establishment or any other business registration documents (if available)

Documents required for SBI E-Mudra Loan

Here are the documents and details you need to begin applying for the SBI e-Mudra loan: 

  • Proof of Business 

  • Savings and/or current account number and other account-related details

  • Community details 

  • UIDAI- Aadhar Number 

  • Other information for uploading like:

    1. GSTN & UDYOG Aadhar

    2. Proof of Shop & Establishment or any other business registration documents (if available

 

Please keep these documents handy when applying for the e-Mudra loan. These documents should be in PNG, JPEG, or PDF format and should not exceed over the recommended size of 2MB. The documents must be photocopied or scanned copies. 

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Types of Mudra Loan

There are three types of loans offered under the SBI Mudra loan scheme. These are SHISHU, KISHOR and TARUN categories. Here are some of the key features of these loans. 

  • SHISHU Loan

The maximum loan amount that can be availed under this loan scheme ₹50,000. This loan scheme is ideal for anyone looking to start a new small business unit as it requires minimal documentation and can be availed online.

  • KISHOR Loan

The maximum loan amount that can be availed under this loan scheme ₹5,00,000. This loan scheme is ideal for anyone looking to expand their business or fund their working capital needs or to buy new machinery to expand their business. 

  • TARUN Loan

Under this scheme, you can avail a loan of up to ₹10 Lakhs, which can help you fund the the growth and expansion of your business. You can use these funds to finance purchase of new machinery, upscale your business operations, etc. 

Steps on How to Apply for SBI E-Mudra Loan

You may apply for the SBI e-Mudra Loan following these steps: 

  • Visit the SBI e-Mudra portal.

  • Fill the SBI e-Mudra application form provided on the portal.

  • Provide your Aadhaar number for e-KYC through UIDAI.

  • Complete the e-Sign through OTP authentication.

  • Your request will be processed and disbursed within the stipulated time period.

SBI Customer Care

Here are some ways to contact SBI customer service in case of any queries. 

  • Toll free number(s):

    1. 1800 1234

    2. 1800 2100

    3. 1800 11 2211

    4. 1800 425 3800

    5. 080-26599990

  • Email: 

    1. customercare@sbi.co.in

    2. contactcentre@sbi.co.in 

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for SBI Mudra Loan

You can apply for the SBI Mudra loan if you:

  • Own a business that requires funds for development and expansion

  • Are looking for funds to start a new business venture

If you need  ₹50,000 or more to start or expand your business, you may apply for the KISHORE category loan under the SBI Mudra loans scheme.

The repayment tenure for the SBI Mudra scheme ranges from 3 years to 5 years. 

Yes, people living in urban areas can apply for the SBI Mudra loan, provided that the funds are intended to be used for business purposes. 

There is no subsidy for the loan given under the Pradhan Mantri Mudra Yojana.

The processing time generally depends on a number of factors such as your credit profile and the quality of the documents submitted. However, typically, the turnaround time for the SBI Mudra loan can be anywhere between 7 to 10 days.

The overdraft amount of ₹5000 sanctioned under Pradhan Mantri Jan Dhan Yojana (PMJDY) has been also classified as MUDRA loans under Prime Minister MUDRA Yojana (PMMY).

You may reach out to SBI’s dedicated customer service team should you have any questions, queries or complaints.

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