SBI Mudra Loans are provided under Pradhan Mantri Mudra Yojana (PMMY) for small and micro enterprises, entrepreneurs and self-employed. If you are applying for a loan of ₹50,000, it falls under the “infant” category. This loan can be used for starting your business, buying machinery, bringing in raw materials or for other business needs. No collateral is required for these loans and the interest rate ranges between 8% to 12%. Documents like Aadhaar card, PAN card, bank statement are required for loan. Your business plan for a loan should be strong and clear. You can apply at the nearest branch of SBI or online.
SBI Mudra Loan (₹50,000) Highlights:
Current information for SBI Mudra Loan (₹50,000) is given below in tabular format:
| detail | Information |
| Loan category | Shishu |
| Loan amount | Up to ₹50,000 |
| interest rate | 8% to 12% (depending on the bank) |
| Collateral | Not necessarily |
| Payment period | 3 to 5 years |
| Use | Starting a business, buying machinery, bringing in raw materials, etc |
| documents | Aadhi Card, PAN Card, Address Proof, Bank Statement |
| Means of Application | – SBI Branch- Online Application: SBI website or PMMY portal- Common Service Center (CSC) |
Eligibility and Criteria for SBI Mudra Loan (₹50,000):
The eligibility and criteria for SBI Mudra Loan are as follows:
| detail | Information |
| Eligible person for loan | – Small entrepreneurs and businessmen- People starting a business or with an operating business |
| Business type | Works in manufacturing, trade or service sector (like shop, food stall, machinery purchase etc.) |
| Loan utilization | – Starting a business- Purchase of machinery or equipment- For raw materials- To expand business |
| Age limit | Over 18 years |
| Papers are required | – Identity Proof: Aadhaar Card, PAN Card, Voter Card- Address Proof: Electricity Bill, Ration Card, Aadhaar Card- Bank statement (last 6 months)- Business Evidence: Registration, GST Number, Trade License |
| CIBIL Score | Usually should be 650 or more |
| Income proof | Income from self-employment or business must be shown |
Documents Required for SBI Mudra Loan (₹50,000):
Following is the list of documents required for SBI Mudra Loan:
| type | detail |
| Identity Proof | – Aadhaar Card- PAN Card- Voter card- Driving license- Passport |
| Address Proof | – Aadhaar Card- Ration card- Electricity bill- Gas bill- Registered rental agreement |
| Business Proof | – Business Registration Certificate- GST Registration (if applicable)- Trade License- Shop Permit (Shop and Establishment Certificate) |
| Bank statement | Last 6 months bank statement |
| Quotation/Invoice | For purchase of machinery or equipment (if required) |
| Photograph | Recent passport size photograph of the candidate |
| Application Form | Duly filled and signed application form |
Application Process for SBI Mudra Loan (₹50,000) (Online & Offline):
Offline Application Process:
One can apply for a loan by visiting an SBI branch. Follow the below method:
| Process steps | detail |
| Visit the branch | Visit your nearest SBI branch and inquire for Mudra Loan. |
| Get the application form | Fill the Mudra loan form from the bank. |
| Attach required documents | Provide proper documents (identity proof, address proof, bank statement etc.). |
| Present a business plan | Present a detailed plan for the business to the bank. |
| Verification and approval | The bank verifies the documents and business plan and approves the loan. |
Online Application Process:
SBI Mudra Loan can also be applied for online. Follow the steps below:
| Process steps | detail |
| Go to SBI website | SBI Mudra Loan Portal visit |
| Select the loan category | Select “Shishu” loan (for loans up to ₹50,000). |
| Fill the online form | Fill the required details (personal information, business information, loan amount etc.). |
| Upload the required documents | Upload scanned copies of documents. |
| Submit an application | Submit your application form and get reference number. |
| Check the progress | Track the status through the reference number provided. |
Conclusion:
SBI Mudra Loan is a great plan to provide financial assistance to small businessmen and entrepreneurs for starting or expanding their business. Loans up to ₹50,000 can be applied for under the “Infant” category, for which no collateral is required and interest rates are cheap. You should have proper documents, strong business plan and eligibility as per the bank’s requirements for the loan. You can apply for this loan offline or online, which makes the entire process easy and quick. The scheme provides support to small businesses to make their dreams come true.
Important Links
| SBI Mudra Loan ₹50,000 | View |
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