E Mudra Loan Sbi 50000 SBI, the largest state-run bank in the country is giving loans for small businesses up to Rs 50000 in just 3 minutes at your home. Yes! You heard that right. can be used to meet various business requirements, such as purchasing raw materials, stock up inventory, meet working capital needs, buying plant and machinery, paying rent, business expansion, and other business-related purposes. SBI Mudra loans are offered to individuals, MSMEs, businesses, and enterprises engaged only in the services, manufacturing, and trading sectors.
How to Apply for SBI e-Mudra Loan Sbi 50000 ?
Existing customers sharing relationships with SBI in the form of Savings Account or Current Account (Individual) can apply for an e-MUDRA loan of amount Up to Rs. 1,00,000 by visiting the SBI e-mudra portal and following the below-mentioned steps:
1: Select Pradhan Mantri Mudra Yojana Application Form from the drop-down menu.
2: Visit the SBI official website https://emudra.sbi.co.in:8044/emudra and click on ‘Proceed’.
3: Provide the required details like the applicant’s Aadhar card for e-KYC purposes through UIDAI, as the e-KYC and e-sign need to be completed through OTP authentication for loan processing and disbursement.
4: Once the SBI formalities and loan process is completed, the applicant shall receive an SMS that will state to initiate the further process by revisiting the e-MUDRA portal.
5: This process needs to be completed within 30 days after the receipt of the SMS of loan sanction.
Note: The applicant needs to upload the document in JPEG, PDF, or PNG format only, with a maximum file size of 2MB.
SBI e-MUDRA Loan Features And Eligibility
- Features:-
- The maximum loan amount offered is Rs. 1 lakh
- The maximum repayment period is up to 5 years
- Instant loan availability of Rs. 50,000 as per bank’s discretion
- For loan amount above Rs. 50,000, an applicant needs to visit SBI’ nearest bank branch for loan formalities
Eligibility Criteria:-
To avail Mudra loan from SBI, you must meet the following eligibility criteria:
Must have maintained SBI’s current or savings account for at least 6 months.
Documents required for SBI loan above Rs 50,000
The person must bring Savings / Current Account Number and Branch Details.- He must show proof of business (name, starting date and address).
- UIDAI – Aadhaar Number (must be updated in the account).
- Caste Details (General / SC / ST / OBC / Minority) is compulsory.
- Other details for upload like GSTN and Udyog Aadhaar will also be required.
- GSTN & Industry Basis will be needed.
- Proof of shop and establishment or other business registration documents (if available) must be showed.
Eligibility for SBI E-Mudra Loan Online?
As per the information given on the SBI website, you should be a small entrepreneur. You’re saving account or current account in SBI must be at least 6 months old. It is to be noted that the loan period is maximum for 5 years. If you apply under SBI e-Mudra loan, you can get a loan of Rs 50,000 online from home.