SBI e mudra Loan 2020 | PM Mudra Yojana | How to Apply online

SBI e mudra loan was launched by the State Bank Of India. It has been launched for all SBI account holders who want to start a small business. Under this scheme, applicants can apply for a loan of up to Rs. 50,000.

The loan will be given for a period of 60 months that includes a moratorium period of 3 months. The return of loan will include 9% interest per annum that will start after the moratorium period of 3 months,

Read this whole article to know more about this scheme

Scheme Overview

Name of the SchemeSBI e Mudra Loan under Pradhan Mantri Mudra Yojana
Scheme Launched byState Bank of India(SBI)
Launched yearApril 8, 2015
Targeted BeneficiariesMicro Enterprises & Individual
Objective of the schemeTo help small business owners
Loanup to 50,000/
Loan period5 years (including moratorium period of 3 months)
Interest rate9% p.a
official Website

What is SBI E-Mudra Loan

SBI E Mudra loan is actually a sub part of Pradhan Mantri Mudra Yojana. Mudra Yojana was launched by Prime Minister Narendra Modi in 2015, Under Pradhan Mantri Mudra Yojana, loan upto 10 lacs rupees will be given to small and medium businesses.

E-Mudra Loan will specifically provide to the SBI Account holders who want to start small businesses(MSME) in individuals. In India, maximum youth are struggling to start a business of their own, here SBI e mudra will help them to start their business at the initial stage. Under this scheme, they will be given up to Rs 50,00/- with a 9% rate of interest.

Also Read, Pradhan Mantri Mudra Yojana

Eligibility criteria:

  • The applicant must obtain a minimum of 50% marks in the currency scoring card for the infant.
  • Applicants must be between 18 and 65 years of age
  • Existing individual customers who maintain a current account / Savings Bank in SBI can apply for the e-Mudra.
  • Didn’t avail of any Small Medium Enterprise(SME) loan in past.
  • Satisfactory bureau report from CRIF Hi Mark.
  • A bureau report from CRIF Hi Mark report that should be satisfactory.

How to apply for SBI E Mudra loan

To Apply for SBI e mudra loan, follow these steps one by one:

  • First of all, head over to the official website of State Bank Of India.
  • Now, go to the “other section” and search e mudra.
  • After that click on “Click here” option, a new web page will appear on the screen.
  • Now go through the official notification carefully and read it.
  • After that click Apply Online.
  • Now enter the personal details such as Mobile number and Aadhar number carefully.
  • After that an OTP will be generated, verify it by entering the otp and Finally Click submit.
  • In next step, You have to submit the SBI Account number.
  • Now submit the loan amount that you want and click proceed option.
  • Now enter your personal information asked on the screen such as address, qualification, PAN card number,family member details, monthly income, homeownership etc.
  • Now click proceed and in next page enter all the details related to your business.
  • After filling all the details, now review all the information that you enterred.
  • Now check the box that indicates you agreed with the terms & condition and click proceed for e-sign.
  • After that Your AAdhaar verification will be done through esign method, enter the OTP generated.
  • As soon as you verified, a confirmation message will come on the screen, click proceed and your application will be submitted.
  • Take a print out copy of your Application form for further reference.

Offline Method to Apply SBI E Mudra Loan

Interest citizens who want to get the loan under E Mudra, please fill the Pradhan Mantri Mudra Yojana (PMMY) loan application form and submit it to the SBI branch along with copies of the required documents.