The SBI e-Mudra Loan under the Pradhan Mantri Mudra Yojana (PMMY) offers micro-enterprises and entrepreneurs collateral-free credit up to ₹50,000 at competitive interest rates. Designed for small business owners, this loan supports ventures like street vending, tailoring, repair shops, and home-based enterprises. Here’s a simplified breakdown of its features, rates, and eligibility.
SBI e-Mudra Loan (Shishu Category) Key Features
| Parameter | Details |
| Loan Amount | Up to ₹50,000 |
| Interest Rate | 12% per annum (fixed for Shishu category) 2 |
| Tenure | 12–60 months (1–5 years) |
| Processing Fee | Nil |
| Collateral | Not required (covered under Credit Guarantee Fund for Micro Units) 3 |
| Repayment Moratorium | Up to 6 months (based on business type) 2 |
Interest Rate Details for E Mudra loan SBI 50000
The SBI e-Mudra loan for ₹50,000 falls under the Shishu category of PMMY. Key rate insights:
- Fixed Rate: 12% p.a., as per CreditMantri 2.
- No Hidden Charges: No processing fees or prepayment penalties 2 6.
- Comparison:
Example EMI:
For ₹50,000 at 12% over 5 years:
EMI=50,000×0.01×(1+0.01)60(1+0.01)60−1=₹1,112/month
Total Interest: ₹16,720 over 5 years.
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Eligibility Criteria for E Mudra loan SBI 50000
1. Applicant Profile
- Indian citizens aged 18–60 years.
- Existing SBI customers with a savings/current account active for 6+ months 2.
- Engaged in non-farm, non-corporate micro-enterprises (e.g., vendors, artisans, shops) 3.
2. Business Requirements
- Startups: Submit a viable business plan.
- Existing businesses: Provide profit proofs (if applying for expansion) 2.
3. Documentation
- ID proof (Aadhaar, PAN).
- Address proof (utility bill, passport).
- Business proof (license, Udyam Registration).
- 6-month bank statement 2 6.
Application Process of E Mudra loan SBI 50000
Step 1: Online Application (Existing SBI Customers)
- Visit SBI’s YONO portal or Net Banking.
- Navigate to “e-Mudra Loan” under MSME loans.
- Enter details (loan amount, purpose) and submit 2 6.
Step 2: Offline Application
- Visit the nearest SBI branch.
- Submit the PMMY application form with documents.
Step 3: Disbursement
- Timeframe: 2–7 working days.
- Disbursal: Funds are credited to the applicant’s SBI account. A Mudra RuPay Card is issued for working capital access 2.
Benefits of E Mudra loan SBI 50000
- Collateral-Free: No asset pledge required 3.
- Flexible Repayment: Choose tenure up to 5 years.
- Mudra RuPay Card: Withdraw cash or make business purchases 2.
- Government Backing: Guaranteed by NCGTC, reducing lender risk 3.
Comparison with Other Banks
| Bank | Loan Amount | Interest Rate | Processing Fee |
| SBI | ₹50,000 | 12% p.a. | Nil |
| Union Bank | ₹50,000 | 12.5% p.a. | 0.50% |
| Bank of Baroda | ₹50,000 | 12.75% p.a. | 1% |
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Case Study: Tailoring Business Expansion
Ms. Priya (28), a tailor in Jaipur:
- Loan: ₹50,000 at 12% p.a.
- Tenure: 3 years (36 months).
- EMI: ₹1,661/month.
- Use: Purchased a new sewing machine.
- Outcome: Increased monthly income by 40%.
Conclusion
The SBI e-Mudra Loan (₹50,000) provides an affordable financing solution for micro-entrepreneurs, with a fixed 12% interest rate and no collateral. Existing SBI customers can apply online via YONO for instant disbursal.
Sources:
Note: Terms are subject to change. Confirm rates via SBI’s YONO portal or branch.
