SBI Shishu Mudra Loan Scheme 2024 : SBI Shishu Mudra Loan Scheme is being operated under Pradhan Mantri Mudra Loan Scheme, under which businessmen can get loan for their business Loan up to ₹50,000 You can get it. If you are thinking of opening a business or startup and you need to make financial arrangements then SBI Shishu Mudra Loan Scheme is a better option for you. Pradhan Mantri Mudra Loan Scheme was started on 8 April 2015 under which the central government is providing loans to businessmen for their startups through banks.
If you also want to take advantage of SBI Shishu Mudra loan, then you can apply for it and take advantage. In this article, we will tell you SBI Shishu Mudra Loan Scheme 2024 We will provide complete information about this scheme. Which includes benefits of the scheme, loan amount, repayment period, eligibility criteria, documents required to take a loan and step by step application process. If you need a business loan, then please read this article till the end.
SBI Shishu Mudra Loan Scheme 2024
Under the Mudra Loan Scheme, State Bank of India is providing a loan amount of ₹50,000 to businessmen with the aim of helping people to open a startup. Small entrepreneurs and businessmen can get this loan for renovation in their business or to grow the business. SBI Shishu Mudra Loan To get this, you need to go to the bank branch and submit the application. Let us tell you that under SBI Mudra Loan, loans can be availed in three categories –
- If you apply for Shishu Loan under SBI Mudra Yojana, you can get a loan of up to ₹50,000.
- If you apply for SBI Kishor Mudra Loan, you can get a loan ranging from ₹50,000 to ₹5,00,000.
- Apart from this, SBI also provides Tarun Mudra Loan under which an amount of Rs 5 lakh to Rs 10 lakh can be taken as loan.
The good thing is that the applicant does not need to provide a guarantee for this. The loan is provided to the applicant as per the eligibility criteria set by the government.
Features of SBI Shishu Mudra Loan 2024
State Bank Of India has planned to provide loan up to ₹50,000 without any guarantee under Shishu Mudra Loan, which has the following features:
- You can avail a loan of up to ₹5,0000 to open a new startup under SBI Shishu Mudra Loan.
- After opening a startup, if you want to develop it, SBI also offers a loan of Rs 5 to 10 lakh under Kishor Loan and Tarun Loan.
- Let us tell you that if you are applying for Shishu Loan under SBI Mudra Loan Scheme, then you may have to pay interest ranging from 1 percent to 12% per month.
- The repayment period of this loan is fixed from 1 to 5 years.
- You can apply for SBI Shishu Mudra Loan by visiting the SBI branch yourself.
Eligibility for SBI Shishu Mudra Loan Scheme 2024
If you are looking to apply for SBI Shishu Mudra Loan, make sure that you fall under the following eligibility criteria –
- Make sure you are taking Shishu Mudra loan to open a new startup.
- For this loan, your age can be between 18 years to 60 years.
- Make sure that you want to get this loan for your own business.
- It is essential that you have a registered firm.
- You must have your own bank account which is active for at least last 3 years.
SBI Shishu Mudra Loan Required Document
SBI Shishu Mudra Loan For this, it is necessary that you submit the following documents –
- Aadhar card
- PAN card
- mobile number
- Address proof
- Bank statement
- ITR Returns
- Income proof such as salary slip
- Startup Project Certificate etc.
How to apply for SBI Shishu Mudra Loan Yojana 2024?
SBI Shishu Mudra Loan Scheme The step to step process to apply for is given below, you have to follow these steps –
- First of all you have to go to the nearest State Bank of India to apply for SBI Shishu Mudra Loan. Bank Will have to go to the branch.
- After this, all the information related to the loan will have to be obtained from the concerned authorities.
- You will be provided with complete information by the officials, after which you can ask for the loan application form.
- After receiving the application form, the required details asked in this letter have to be entered carefully and the required documents have to be attached with it.
- After submitting all the documents to the bank, they will be verified by the officials.
- If all the documents are found correct then your loan will be approved.
- After the loan is approved, the loan amount will be transferred to your bank account.
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