Eligibility criteria for SB E-Mudra loan 2024, E Mudra Yojana Scheme Interest Rates, How to get e-Mudra Loan, SBI E-Mudra Loan in Hindi, एसबीआई ई-मुद्रा ऋण ऑनलाइन आवेदन करें, SBI E-Mudra Loan Online, Pradhan Mantri Mudra Yojana
PM Mudra Yojana [SBI Mudra Loan] was launched by the central government in 2015 to cater to the peso needs of small and medium merchants and encourage them to be self-employed. Under this scheme, individuals or students who wish to start their own business or small business can obtain a commercial loan of up to 10 lakh under the Pradhan Mantri Mudra Yojana.
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How to Get an e-Mudra Loan
Types of cash loans
- Shishu Loans: The bank provides up to Rs 50,000 / – in the form of a Shishu Loan.
- Kishore Loans: Kishore Loans, Over Rupee Loans. 50,000 / – given by the bank and Rs. 5 lakhs.
- Tarun Loans: Under Tarun loans, loans over 5 lakh rupees and up to 20 lakhs are granted.
Eligibility Criteria for SB E-Mudra Loan
Regardless of the application of the e-Mudra loan scheme, the applicant must fulfill the following criteria.
- The applicant must be a permanent resident of India
- The applicant must be 8 to 65 years old
- You must have an account with a state bank
- The Aadhaar account must be linked to a bank account
- Applicant should not be a bank defaulter
E Mudra Yojana Interest Rates
The interest rates under the Mudra loan scheme can vary according to the work of different banks. Generally, banks impose an annual interest rate of 12% on the Mudra loan scheme, but if the government gets capital support based on its business risks, this support can be linked to the Mudra Loan. One big thing about this is that, in general, the government does not provide any support under the Mudra scheme.
Features
- Type of Facility: Working Capital and Term Loan
- Purpose: Business purpose, capacity expansion, modernization
- Target Group: Business Enterprises in the Manufacturing, Trading, and Services sectors including allied agricultural activities.
- Quantum of loan (Min/Max)
- Maximum loan amount: Upto Rs 10 lacs
- Loans up to Rs.50,000 are categorised as SHISHU
- Loans from Rs.50,001 to Rs.500,000 are categorized as KISHORE
- Loans from Rs.500,001/- to Rs.10,00,000/- are categorised as TARUN
- Margin (%)
- Upto Rs. 50,000/- Nil
- Rs. 50,001 to Rs. 10 lacs: 10%
- Pricing: Competitive Pricing Linked to MCLR
- Repayment Period
- WC/TL: in 3 – 5 yrs including a moratorium of up to 6 months depending on the activity/ income generation.
- Review of WC/TL to be done annually.
- Processing Fee
- Nil for Shishu and Kishore to MSE Units
- For Tarun: 0.50%(plus applicable tax) of Loan amount
How to Apply for an SBI e-Mudra Loan – एसबीआई ई-मुद्रा ऋण ऑनलाइन आवेदन करें
- There is no fixed application process for an SBI e-Mudra loan.
- First of all, you should collect information related to the procedures for obtaining a Mudra loan and the interest rate at banks near you.
- Aside from this, you can also get information related to the documents required to apply for the loan.
Documents Required for the Mudra E-Loan
To apply for a Mudra loan, you usually need documents based on the amount of the loan, the nature of the business, bank rules, etc. The banks can also request information on balance sheets, income tax returns, etc. on loans above Rs. 50,000. However, you should take the State Bank of India loan documents listed below.
- Proof of identity – in this, you can also use ID cards, ID cards, driver’s licenses, PAN cards, and Aadhaar cards.
- SC / ST / OBC Certificate for Reserved Class.
- Proof of address – You can also use a phone bill, electricity bill, or property tax receipt.
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- Business plan or project information.
- The applicant must not be bankrupt.
- Balance sheet for two years or more commercial credit.
E-Mudra Loan Processing
- When applying with the appropriate documents, the bank authority will examine your documents.
- The bank can also ask you for more documents.
- It may take some time for the bank to examine the documents to be completely satisfied with the currency loan, which depends on the bank’s work.
- After successfully processing the loan, the bank will present you with the check, which must be deposited into the applicant’s bank account.
- To ensure that the loan amount that the bank has provided is spent for the same work or for the same purpose for which the loan was granted, the bank will give you all payments such as If the applicant has to purchase any large machines or tools in the project. And that is by choice.
Who will not Get a Mudra Loan?
There are some situations in which the bank may decline your loan application and refuse to grant you a loan. Details of possible situations are as follows:
- The appropriate documents should not be submitted by the applicant in the Mudra loan application.
- If the bank does not see better prospects for your project in the future.
- The applicant has already obtained a commercial loan.
- The applicant fails to pay or is insolvent.
- That the applicant is unable to achieve the qualifications required for the Mudra loan.
Official Website – Click Here
https://sbi.co.in/web/business/sme/sme-loans/pm-mudra-yojana
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