Looking for quick loans? Here is a good news for you. State Bank of India is offering loans to individuals who are willing to start their businesses. SBI, the largest state-run bank in the country is giving loans for small businesses up to Rs 50000 in just 3 minutes.
Those interested can apply for SBI’s e-Mudra loan and increase their business further. Not to forget, that the Pradhan Mantri Mudra Loan Scheme is a very useful scheme that gives financial help to those who don’t have enough money to start business. So if you are also thinking of applying for loan from State Bank of India then this is the right time.
How to get SBI E-Mudra loan of Rs 50000
Availing SBI’s e-mudra loan is a very simple process. One can get it without going to any branch of SBI, simply by sitting at home without any document.
Click to get SBI mudra loan
Features of E-Mudra loan:
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The individual must be a small (micro) entrepreneur.
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He/she must be at least 6 months old current / savings account holder in SBI.
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Maximum loan eligibility amount is Rs 1 lakh.
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Maximum loan term is 5 years.
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There is instant availability of loan up to Rs 50,000 according to the eligibility criteria of the bank.
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For loan amount above Rs 50,000 the customer has to visit the branch to complete the formalities.
Documents required for SBI loan above Rs 50,000
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The person must bring Savings / Current Account Number and Branch Details.
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He must show proof of business (name, starting date and address).
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UIDAI - Aadhaar Number (must be updated in the account).
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Caste Details (General / SC / ST / OBC / Minority) is compulsory.
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Other details for upload like GSTN and Udyog Aadhaar will also be required.
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GSTN & Industry Basis will be needed.
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Proof of shop and establishment or other business registration documents (if available) must be showed.
What is the 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.
