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SBI Shishu Mudra Loan Yojana: Do you also want to stand on your feet and you also have your business plan or start a new business and you don’t have enough money that, you start that business Could So in such a situation, this article is going to be very important for all of you. Because today we will tell you about such a scheme through which you can start your business loan very easily. Yes, friends, you can also get this loan and start your own business.
Millions of people of the country have started their business by receiving this loan. In such a situation, if you also want to get this loan, then you can get this loan by applying in this loan according to the process given below. This loan will be given to you only when you are going to start your own business startup.
In such a situation, a question will be going on in your mind that after how long this loan will have to be given back. So for your information, let us tell you that you can repay this loan within a time of one year to 5 years. And if we talk about interest on this loan, then in this loan we have to pay 12% interest per year.
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SBI Shishu Mudra Loan Yojana 2024
The State Bank of India Mudra Lone Scheme was started with the objective that, all the people across the country and they want to start their business, then they can get this loan and start their small business and when their business is running He could repay this loan then.
SBI Shishu Mudra Loan is going to be given under the Pradhan Mantri Mudra Yojana is a very better loan scheme. The main objective of this loan is that all people who want to start their business can get this loan and start their business and provide ₹ 50,000 under this loan. Which the applicant has to pay before 60 months. Apart from this, an interest of 12% is also charged per year on the given loan.
SBI Shishu Mudra Loan Yojana Benefit
- SBI Shishu Mudra Loan is provided only to the person residing in India.
- Under this scheme, loans up to ₹ 50000 are provided.
- Under this scheme, loan is provided without any guarantee given.
- This loan is given only to the businessmen who have come to the market and want to start their business.
- To get a loan under this scheme, the applicant should have complete documents related to registration of business.
- This scheme charges a 12% per year interest rate on the loan received.
- The loan applicant found under this scheme has to be repaid within 5 years.
SBI Shishu Mudra Loan Yojana Eligibility
If you want to take SBI Shishu Mudra loan, then for your information, tell that to take advantage of this scheme, you have to fulfill the eligibility given below. If you do not fulfill this eligibility, then you will not get the benefit of this scheme.
- To get this loan, the age of the applicant must be over 18 years of age.
- To get this loan, the maximum age of the applicant should be 60 years.
- To get this loan, the applicant must have their own business.
- To take advantage of this, the applicant must have a 3 -year -old bank account.
SBI Shishu Mudra Loan Yojana Important Documents
- Aadhar card
- PAN card
- Address proof
- income certificate
- Bank account statement
- Credit card report
- Business proof
- mobile number
SBI Shishu Mudra Loan Scheme objective
Currently, various types of schemes are prevalent in India. Like other schemes, there are some objectives of SBI Shishu Mudra Loan Scheme, they are:-
- The main objective of launching SBI Shishu Mudra Loan Scheme is further to expand the business of every small businessman in India.
- It has been started so that every small business can be strengthened and self -sufficient.
- Through this scheme, as businessmen will expand their business, the scheme has been launched to develop India’s industry as well as to develop India’s industry.
SBI Shishu Mudra Loan Scheme beneficiary
Today, when we started discussing about SBI Shishu Mudra Loan Scheme in this post, we have said that small businessmen located in every state of India can get the benefit of this scheme by applying under this scheme, but this scheme Applicants have to follow some rules to get the benefit of.
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SBI Shishu Mudra Loan Yojana Apply Process
If you have also made your idea that you also want SBI’s baby currency loan, then for your information, let us tell you that to get this loan, you can tell Bhima’s step by step below because if you If you follow step by step, then you will be able to apply to get this loan very easily.
Business list under Mudra Scheme
The list of business under Mudra Scheme is given below:
Commercial vehicles: Currency finance for machinery and equipment can be used to purchase commercial transport vehicles like tractor, auto-rickshaws, taxis, trolleys, tiller, goods transport vehicles, 3-wheelers, e-rickshaws.
Service sector activities: To start business of salons, gym, sewing shops, medical shops, repair shops, dry cleaning and photocopy shops etc.
Food and Textile Product Sector Activities: Various activities included in the respective sector, such as papad, pickle, ice cream, biscuits, jams, jelly, and sweets, as well as for the conservation of farming related products at the rural level.
Professional activities for traders and shopkeepers: setting up shops and service enterprises, business and commercial activities, and non-farm activities that receive income
Equipment Finance Scheme for Micro Units: Maximum Rs 10 lakh.
Agriculture-related activities: Agri-Clinic and Agri-Business Center, Food and Agro-PRECSIST unit, poultry farming, fisheries, beekeeping, sorting, livestock, grading, agricultural industries, dairy, fisheries, such as business related activities.
How will women get a Mudra loan?
The currency scheme under PMMY encourages women to do business and for this, banks, NBFCs and Micro Finance Institutions (MFI) provide collateral-free business loans to women entrepreneurs at low interest rates. Maximum Rs 10 lakh under Mudra Scheme for women entrepreneurs.
The loan amount is provided up to 5 years. The merit conditions of the currency loan for women are the same as it is necessary for individuals and enterprises. Very few or zero processing fees are charged on the loan amount approved for women entrepreneurs.
What is a Mudra Card?
Mudra card is a type of debit card that is issued to those taking Mudra loans to meet their business and working capital related needs. After the Mudra loan is approved, the bank/ loan institute opens a currency loan account for the borrower and also issues a debit card. The loan amount is transferred to the bank account, which the borrower can withdraw in some parts according to his business requirements.
SBI Shishu Mudra Loan Scheme Offline Apply
If you want to apply for SBI Shishu Mudra Loan Scheme, you have to follow the procedures given below well:
Step 1: First, you have to reach your nearest State Bank of India Bank.
Step 2: After reaching the bank, you have to know the details about the SBI Shishu Mudra Loan Scheme and go through the terms and conditions.
Step 3: Then you have to collect applications from bank officials to apply for this baby currency loan.
Step 4: Fill all the information contained in the application form well.
Step 5: Then you have to attach the required documents with the application form.
Step 6: Now you have to submit the application form and documents to the officer in the bank.
Step 7: After submitting the application form, you will receive a receipt, which should be kept well for future reference.
Officers will verify your application form. If you are eligible for this scheme, the loan amount will soon reach your bank account.
SBI Shishu Mudra Loan Apply Online
If you want to apply for SBI Shishu Mudra Loan Scheme through online, take a good look at the following processes:
Step 1: First of all you have to enter this link and reach the official website https://emudra.bank.sbi:8044/EMUDRA will have to go to the official website.
Step 2: After coming to the home page of the official website, you have to click on the Proceed for E-Mudra option at the bottom.
Step 3: Then you will see a notification on your mobile, laptop or computer screen, after seeing how to apply there, you have to click on OK option.
Step 4: After coming to the next page, after choosing your language, you have to enter the mobile number linked to the bank account. Then after filling the captcha, you have to verify the mobile number through OTP by clicking the verified option. Then after entering your bank account number, you will have to click on the procedure option and how much money you want to borrow.
Step 5: After coming to the next page, now you have to fill your business address and business sales/account details well, then you have to click on the submit option.
Step 6: After clicking on the submit option, you will see a table of materials on your screen. There you will see SBI congratulations. There you can see all the information about how much loan you have applied for. Then you have to click on the option of terms and conditions and click on the Procedure to Eyssen option.
Step 7: Now you have to click on Eye Agri option.
Step 8: After the next page comes, you have to enter your Aadhaar number and name and click on Esign Via OTP option.
Step 9: After coming to the next page, you have to click on the Agri option, again enter the Aadhaar number and click on the sand OTP option.
Step 10: After verifying the Aadhaar number, you have to click on the Proceed option on the next page.
Step 11: After clicking on the option of proceeding, you can see all the information of your application and you can download or print the application form.
Step 12: Click on the procedure option again, now after waiting for a while, you will see congratulations. By clicking on the print option below it, you can print information about how much money was successful in the loan and how long you have to repay that loan.
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FAQs (SBI Shishu Mudra Loan Yojana 2024)
Question.How much loan amount is given under SBI Shishu Mudra Loan?
Answer. Under the Shishu Mudra Loan Scheme, citizens who want to do their new business or want to increase old business are provided with a loan system of up to ₹ 50000, which can be easily repaid within 5 years.
Question.I am 18 years old, can I take SBI Shishu currency loan?
Answer.Yes, you will be able to get a loan amount of ₹ 50000 under this scheme, for this you will have to confirm some letters, which are mentioned here.
Question. How long does Mudra finance take approval?
Answer: Typically, private/public sector banks and NBFCs approve the loan within around 7-10 working days.
Question. Do I need to submit any collateral/ security at the bank/ loan institute to get a loan under Pradhan Mantri Mudra Yojana?
Answer: No, you do not have to submit any collateral/ security with any bank/ loan institute to get a currency loan.
Question. Is ITR necessary for currency finance?
Answer: People have to submit last year’s Income Tax Return (ITR) to apply for business loans under the Mudra Yojana, existing business and employed people.
Question. How can I check my currency loan status?
Answer: You can check the status of your Mudra loan online by visiting the official website of your bank/ loan institute and in its e-Mudra Loan Application Status section.
Question. Is there a separate special currency loan scheme for women?
Answer: Yes, the United Women Entrepreneur Scheme is provided especially for women entrepreneurs, which is part of the Mudra loan scheme. Under this, women working in production, manufacturing or service related to service can apply for loan. The scheme has been specially designed to empower and encourage women entrepreneurs. Women who have more than 50% financial partnership in a company can apply for Mudra loan under this category.
Question. I have my own bakery business and I want to increase it. Can I apply for a Mudra loan for this?
Answer: Yes, you have Rs 10 lakh to expand your business under “Kishore” or “Tarun” category. Can take a loan up to. Contact your nearest bank and NBFC to know about the process of applying.
Question. I have done a course of fashion design. I want to open my own boutique and make my own brand. What can help me help me with a currency loan?
Answer: The currency scheme provides loans that you can use to start your boutique. You can visit a close bank/ loan institute providing currency loan with all the necessary documents to apply for business loans. You can also apply online by visiting the official website of the bank/ loan institute.
