How to Apply for SBI e-Mudra Loan? Step-by-Step Guide

SBI Mudra Loans are business loans and working capital loans made available by the Micro-Units Development and Refinance Agency to individuals, self-employed professionals, and Micro, Small, and Medium Enterprises (MSMEs) (MUDRA). Under the Mudra scheme, SBI provides business loans and MSME loans of up to Rs. 10 lakh. SBI e Mudra loans are available online for amounts ranging from Rs. 1 lakh to Rs. 1 lakh, with repayment terms ranging from 5 years to 5 years. It can be used to meet a wide range of working capital requirements, such as improving cash flow, purchasing raw materials, stockpiling inventory, paying rent, expanding a business, and other business-related activities. Individuals, micro, small, and medium-sized enterprises (MSMEs), businesses, and enterprises engaged solely in the service, manufacturing, and trading sectors are eligible for SBI Mudra and e Mudra loans. SBI savings and current account holders can now apply for the SBI Mudra loan online. Let's learn how to apply for SBI E- Mudra yojana.

Documents required

• Application form completed with passport-sized photos
• The applicant provided the following KYC documents: Passport, voter ID card, Aadhar card, driver's licence, and PAN card
• Savings and current account numbers, as well as branch information
• Business Validation (Name, Start date & Address)
• UIDAI Aadhar Number (should be updated in Account Number)
• Information about the community (General/SC/ST/OBC/Minority)
• GSTN and UDYOG Aadhar are also required for uploading.
• Evidence of shop and establishment, as well as business registration, may be required by SBI.

Eligibility Criteria

• The applicant must work in a non-farm income-generating activity, such as manufacturing or the service sector.
• The applicant must have lived in the same place for at least two years.
• Commercial banks, Regional Rural Banks (RRBs), and Scheduled Co-operative Banks can use a refinance scheme (SCBs)
• Through the Women's Entrepreneurship Program
• Through the securitization of the loan portfolio

How to Apply for SBI e-Mudra Loan

• Existing SBI customers with Savings or Current Accounts (Individual) can apply for an e-MUDRA loan of up to Rs. 1,000,000.
• Visit the SBI e-mudra portal
• Select Pradhan Mantri Mudra Yojana Application Form
• Go to the SBI official website at https://emudra.sbi.co.in:8044/emudra
• Click the 'Proceed' button.
• As the e-KYC and e-sign must be completed via OTP authentication for loan processing and disbursement, provide the necessary information, such as the applicant's Aadhar card, via UIDAI.
• After completing the SBI formalities and loan process, the applicant will receive an SMS informing them that they must return to the e-MUDRA portal.
• This procedure must be completed within 30 days of receiving an SMS confirming loan approval.