SBI Business Loan Offers to Women - Stree Shakti Package

A business loan State Bank of India (SBI) is beneficial for many reasons. From affordable rates to higher loan amount facility, you get everything you need. Just like any other loans, this product is also offered on the basis of certain eligibility which you will further read in this article.

If you are looking for funds to give a push to your business or want to start a new one, you can apply for SBI business loan. This article is devoted towards the business loan offered by State Bank of India to women.

SBI Stree Shakti Package - Business Loan for Women

      The margin will be lowered by 5% as applicable to separate categories.
      The interest rate will be lowered by 0.5% in case the loan exceeds Rs 2 lakh.
      No security is required for loans up to Rs 5 lakh in case of tiny sector units.

SBI SME Loan Eligibility - Pradhan Mantri Mudra Yojana

Below is the eligibility based on which the bank accepts applications for Mudra Yojana at SBI. You may look into it to check whether you fit in or not.

• Individuals and Small business units with a business plan for non farm income generating activity in manufacturing and services sector whose credit requirement is less than 10 lakhs are eligible for availing loans under PMMY.
• Borrower should not have defaulted to any financial institution in respect of loans availed earlier.

SBI PMMY loans are eligible under 3 categories

• Shishu : covering loans upto 50,000/-
• Kishore : covering loans above 50,000/- and upto 5 lakh
• Tarun : covering loans above 5 lakh to 10 lakh

How much maximum loan amount can you get?

The maximum loan amount under Pradhan Mantri Mudra Yojana (PMMY) is Rs. 10 Lakhs as per scheme under which borrower is eligible.

For what purposes can you take PMMY?

Pradhan Mantri Mudra Yojana has been introduced by the government for selected purposes. The individuals coming under the below category are considered for this scheme.
• Working capital (Fund Based).
• Term loans for all business purposes.

SBI Business Loan Interest Rate 2018

Just like any other loan, SBI has this loan linked to its MCLR. One year MCLR at SBI is presently 8.25%. The rate is subject to vary depending on your income and other requirements as per the bank.

SBI Business Loan EMI Calculator

The calculator shows results on the basis of the loan amount, interest rate and tenure on the loan. Here is an example for your better understanding:

     Loan amount- ₹50,00,000
     Interest rate- 11.35% p.a.
     Tenure-  10 years

The EMI, Total Interest Outgo, and Total Amount (Principal+Interest) will be as follows:

EMI- ₹69,869
Total Interest Outgo- 33,84,318
Total Amount- ₹83,84,318

SBI Business Loan Documents

The list of documents you need to keep into account is:

       Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
       Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
       Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
       Copy of Income Tax PAN for 24 months
       Bank statement of last 6 months

SBI Business Loan Offers to Women - Stree Shakti Package SBI Business Loan Offers to Women - Stree Shakti Package Reviewed by Sahil Arora on June 07, 2018 Rating: 5

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