SBI e-Mudra/Pm SVANidhi Loan Online 2023-24

SBI e-Mudra/Pm SVANidhi Loan: Prime Minister Narendra Modi has initiated the Mudra Loan scheme, which provides loans to small-scale entrepreneurs who wish to start or expand their businesses.

SBI e-Mudra/Pm SVANidhi Loan Online 2023-24
SBI e Mudra Pm SVANidhi Loan

State Bank of India (SBI) offers the SBI e-Mudra Loan, providing loans ranging from ₹50,000 to ₹1 lakh. If you are interested in obtaining a loan and need financial assistance, you can easily apply for a loan of up to ₹50,000 online within 5 minutes.

However, for loans exceeding ₹50,000, you will need to visit a branch, and this article will provide you with all the necessary information. If you find this post helpful, please share it, and if you have any questions, feel free to comment below.

What is SBI e-Mudra/Pm SVANidhi Loan?

As mentioned earlier, the Prime Minister initiated the Mudra Loan scheme in 2018 with the aim of providing loans to small and large-scale entrepreneurs who face a lack of funds hindering business growth or hampering their ability to start a business.

In this post, we are specifically discussing the SBI Mudra Loan, which allows you to borrow between ₹50,000 and ₹1 lakh. You can apply for a loan of up to ₹50,000 online within 5 minutes. However, if you require a loan amount exceeding ₹50,000, you will need to visit a branch.

Eligibility for SBI e-Mudra/Pm SVANidhi Loan

i. You must be a micro-enterprise owner.

ii. You should hold an active savings or current account with SBI for at least 6 months.

iii. Maximum loan amount: ₹1 lakh.

iv. Maximum loan tenure: 5 years.

v. Instant availability of loans up to ₹50,000 based on the bank’s eligibility criteria.

vi. For loan amounts exceeding ₹50,000, you will need to visit a branch and fulfill the required formalities, which will be explained in detail in this article.

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Documents Required for SBI e-Mudra/Pm SVANidhi Loan

i. Savings/current account number and branch details.

ii. Proof of business (name, commencement date, and address).

iii. UIDAI – Aadhaar number (should be updated in the account).

iv. Caste details (General/SC/ST/OBC/Minority).

v. Additional details for uploading, such as GSTIN and Udyog Aadhaar.

GSTIN and Udyog Aadhaar.

Proof of shop/establishment or any other business registration documents (if available).

To apply for the SBI e-Mudra/Pm SVANidhi Loan of up to ₹50,000 online within 5 minutes, you first need to visit the official website of State Bank of India, whose link is provided below.

Please provide your Aadhaar number for e-KYC through UIDAI (ensure that your mobile number is linked to Aadhaar for OTP purposes), as e-signing is mandatory for processing and disbursement in e-KYC.

Now, using your linked mobile number with your bank and Aadhaar, enter the minimum 6-month old SBI savings/current account number, and specify the loan amount you require. Note that to avail the loan online within 5 minutes, enter an amount of ₹50,000 or less.

An OTP will be sent to your registered mobile number linked with the bank and Aadhaar. Enter the OTP to verify.

Fill in all.

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