How to get SBI eMudra Loan – Apply Online

SBI eMudra Loan is an online loan facility offered by the State Bank of India. It is designed to provide easy and hassle-free finance to individuals and businesses in a short period of time. The loan is available to all citizens of India and can be applied for online. This article will provide more information regarding the features, eligibility criteria, and process to apply for the loan.

Overview of SBI eMudra Loan

State Bank of India’s eMudra loan is an easy and user-friendly product that offers to finance small businesses, professionals, and self-employed individuals. With this product, entrepreneurs can avail working capital as well as equipment loans to start or grow their business. The application process for SBI eMudra loan is quite simple and customers can easily apply through the website or the mobile app.

The eligibility criteria to apply for an eMudra loan are stated in detail on the website. To be eligible, applicants must be Indian citizens with a minimum age of 21 years. They must have a minimum of 2 years’ experience in the profession they are applying under and possess all requisite documents such as Identity Proof (Aadhaar/PAN), Address Proof, Income Proof etc., as prescribed by SBI at the time of application.

Once approved, customers can enjoy flexible repayment terms with competitive interest rates starting at 10% upwards depending on various parameters such as eligibility and applicant background checks.

Loan amounts from Rs 50,000 up to Rs 10 Lakhs are available without any security requirement or collateral submission. Moreover, funds can be disbursed within just 7 days subject to required documents being submitted correctly and completely.

SBI’s eMudra loan makes it possible for budding entrepreneurs to realize their dreams without having to worry about hardship due to inadequate finances or stringent security requirements often associated with availing usual bank loans or credit lines from financial institutions/banks etc.

Eligibility Criteria for SBI eMudra Loan

In order to be eligible for an SBI eMudra Loan, applicants must meet certain criteria. For salaried individuals, they must have a minimum income of Rs. 21,000 per month and a minimum of 2 years of job continuity. Self-employed applicants must have a minimum annual income of Rs. 2.50 lakhs.

Absolutely no guarantor is required, and applicants must be at least 21 years of age. Let’s look into other eligibility criteria.


To be eligible for an SBI eMudra loan, you must be at least 18 years of age. Applicants over the age of 18 must provide a valid, government-issued photo ID that verifies their date of birth and other personal information appropriate to the type of ID provided. Additionally, applicants should provide proof of their current address and contact details.


Income is one of the major eligibility criteria that need to be satisfied in order to qualify for an SBI eMudra loan. The applicant must have a minimum annual income of Rs. 1,00,000 in order to apply for the SBI eMudra Loan. This income criterion is seen as essential as it gives confidence to the lender that you will be able to make timely repayments on your loan.

You may be required to provide supporting documents of your annual income such as salary slips or an Income Tax Return (ITR) certificate as proof for eligibility under this criterion. If you are self-employed, you may also need to submit additional documents such as your Profit & Loss statement and Tax audit report from a Chartered Accountant.

Credit Score:

Credit Score is an important factor in determining eligibility for the SBI eMudra Loan. Credit Score is a score ranging from 300 to 900 points representing the creditworthiness of an individual. Credit score is calculated based on the evaluation of a borrower’s credit history which includes his or her repayment track record and other financial parameters like debt ratio, number of open accounts and enquiries for credit cards.

A minimum Credit Score of 650 or higher is required to fufill the eligibility criteria for SBI eMudra loan. The lender will take into consideration other factors as well while evaluating a loan application such as income, repayment capacity, existing financial obligations and details of current employment.

If you are wondering how to check your Credit Score before applying for a loan then there are multiple services available online which provide instant access to your credit report and CIBIL (Credit Information Bureau India Limited) score.

It would be wise to check and manage your CIBIL score prior applying for the SBI eMudra Loan so as to make sure that you meet the above mentioned eligibility criteria before registering your loan application online.


When applying for an SBI eMudra loan through the online portal, it is important to provide all of the necessary documentation. This includes valid proof of identity, address and date of birth, as well as a valid digital signature and other bank statements or income documents.

Proof of identity can include one of the following: a passport, voter’s identity card, driving license, PAN card or Aadhaar Card; each document should be valid and be issued by a government body.

In order to prove your physical residential address in India a copy of a recent telephone bill, bank statement or utility bill should be uploaded in addition to any one of the above-mentioned identity documents.

Proof of age can also be confirmed by submitting copies of passport (Also showing valid Visa if applicable), birth certificate or school leaving certificate.

Finally applicants must have access to a valid digital signature (for e-signing application forms) and will also need to upload either their most recent six months’ bank statement or Income Tax Returns filing.

Required Documents for SBI eMudra Loan

Applying for an SBI eMudra loan online requires submitting certain documents. The documents that you need to submit differ depending on your purpose of availing the loan, such as business expansion, equipment purchase, and more. Let’s take a look at the essential documents that are required to apply for the SBI eMudra loan online.

Identity Proof:

When applying for an SBI eMudra loan online, you must provide valid identification documents in order to be approved. These documents are used to verify your identity and include the following types of documentation:

-Aadhaar Card
-Voter ID Card
-Ration Card
-PAN Card
-Driving License
-Employer ID (if applicable)

You will also need to show proof of residence, such as a utility bill or rental agreement. You might also be asked to provide proof of employment and income, such as recent pay slips or bank statements. Additionally, you may need to provide a statement of your existing loans and debts. All documents must be genuine, valid and up-to-date.

Address Proof:

When you apply for an SBI eMudra Loan, you will be required to provide proof of your permanent residential address. Valid documents accepted as proof of address include a bank statement, government-issued identity document (such as an Aadhar card or passport) or a utility bill that has been issued in the last three months.

Even if you are unable to provide any of these documents, you may still submit other acceptable documents such as a copy of a rental agreement, evidence of your current residential address from another financial institution, or income tax assessment order as proof.

The verification process may take several days and will vary depending on the document provided. It is important to provide verifiable information for successful loan disbursal.

Income Proof:

When applying for a State Bank of India eMudra loan, it is important to provide proof of income to demonstrate your ability to repay the loan. Depending on your unique circumstances and the loan product you select, lenders may require additional forms or documents such as salary statement, income tax returns, bank statement with salary credit or any other proof of income.

Salary Statement: A salary statement from your employer should contain information about the employment terms and pay structure of an individual. It outlines the total amount paid in wages and deductions, as well as detail regarding any bonuses and commissions awarded.

Income Tax Returns (ITR): Income tax returns are filed by taxpayers annually to report their income and are used as evidence to support claims of educational costs or medical bills incurred by the taxpayer during the year.

Bank Statements with Salary Credit: Bank statements can provide proof that salary payments have been made into a specific account for a certain period of time. Bank statements should include records associated with all deposits including payroll taxes, Social Security benefits, disability payments, rental/lease payments and more.

Payslips/Pay Stub: A payslip/pay stub is a record issued by an employer that summarizes earnings along with deductions taken from an employee’s paycheque during a specific payment period. Pay stubs often include gross earnings (salary before deductions) overtime wages for additional hours worked and net pay (take-home pay).

Additional Documents: Depending on which SBI eMudra loan product you apply for and your unique circumstances, lenders may require additional documents such as identity proof like PAN Card/Aadhaar Card; residence proof like passport/driving license; age & address proof like Voter ID; existing loan repayment details along with credit scores & reports if required etc.

Bank Statements:

When applying for an SBI eMudra loan online, you will need to provide your most recently issued bank statements from the past six months. These statements will help the lender assess your current financial situation and determine whether you can comfortably afford to repay the loan.

It is important to be as honest and accurate as possible when filling out the application form in order for your application to be successfully processed.

Your bank statements should include all activity such as deposits, withdrawals, transfers and any other debits or credits to your account.

It is important to note that if there are any discrepancies between the bank statement and other documents provided in your loan application, this can adversely affect your application process. Therefore, make sure that all documents presented are accurate so that you do not face any issues when applying for a SBI eMudra loan online.

How to Apply for SBI eMudra Loan

Applying for an SBI eMudra Loan online can be a simple process, provided you meet the eligibility criteria. In this section, we’ll take a look at the steps you need to take to apply for the SBI eMudra Loan and the documents you need to submit. We’ll also explain the important features of the loan and how you can use it most effectively.

Online Application Process for SBI eMudra Loan

SBI eMudra loan is a perfect choice for the business owners or entrepreneurs who need quick access to funds but have less than perfect credit. The loan application process is simple and can be completed online in a few minutes. To apply, follow the steps below:

Step 1: Visit the SBI eMudra website and register as a new user. Provide your basic personal and contact information and create a secure password, as outlined by their safety protocol.

Step 2: On the next page, provide some information about your business such as its type, structure, purpose, years of operation etc. Once you’ve filled in all required details, click on ‘Submit Now’ button to complete the registration process.

Step 3: After successful registration you will be redirected to the application portal where you would fill in more details related to your financials such as current turnover and profits of your business, existing debt burden (if applicable), expected capital investment and so on.

Step 4: You are also required to upload various documents such as recent audited financial statements/tax returns of your company etc., along with other relevant documents like PAN card number, bank statement for last six months (showing current cash flow) etc. Click ‘Submit Now’ button once your uploads have been confirmed successfully.

Step 5: After validation of all uploaded documents by SBI eMudra team, a loan officer from SBI eMudra will contact you shortly with further details related to loan terms and conditions along with repayment schedule if approved.

Upon successful review of submitted documents you will receive an email notification confirming granted loan amount along with loan agreement link where you need to sign off electronically at earliest before opting out any further steps in the process like post-disbursement paperwork etc.

Offline Application Process for SBI eMudra Loan

An SBI eMudra Loan can be applied for either online from the official website, or offline from the nearest State Bank of India branch. If you are applying offline, you will need to fill up an application form with your personal details, along with the needed documents mentioned below.

1. Applicant’s duly filled loan application form
2. Self-attested copies of applicant’s Identity and Address Proofs:
– Aadhaar Card
– PAN Card
– Voter ID Card/ Driving License
3. Last 6 months’ bank statement
4. Processing fee cheque/ DD in favour of SBI eMudra
5. Photographs (2 passport size colored)
6. Details regarding all existing loans taken by the applicant

Once all these documents are submitted, they will be verified by the loan official and accordingly your loan request is approved or declined. After the loan gets approved, disbursal will happen within 2–3 days depending on availability of funds and other related terms & conditions as per SBI’s policy guidelines or stipulated timelines as applicable in case of any specific offers or promotions runs by SBI.

SBI eMudra Loan Amount

The State Bank of India (SBI) eMudra Loan is a personal loan facility available to individuals who need additional funds for their personal or business needs. It offers flexible repayment options and competitive interest rates, making it an attractive option for borrowers.

The loan amount you can avail with the eMudra loan depends on your credit history and other factors. In this guide, we’ll look at the different loan amounts available with the eMudra loan and the process for applying for it.

Maximum Loan Amount:

The State Bank of India e-Mudra loan offers a variety of loan amounts, depending on the customer’s qualifications and needs. The maximum loan amount is Rs 15 lakhs.

To determine the loan amount that you qualify for, consider your assets, liabilities, past repayment record and credit history. Prior to submitting your loan application to the Bank, it is important to assess your financial needs and understand the eligibility criteria for the e-Mudra loan.

The maximum e-Mudra Loan amount depends on various factors like monthly income and expenses, debt-to-income ratio, credit score etc., Assess what you can afford as a repayment each month and ensure it is not higher than 50% of your net monthly income. You can use the SBI’s online e-Mudra Loan Calculator or consult with an expert for more guidance before applying for a loan.

Also remember that to be eligible for a SBI e-Mudra Loan, you must be between 21 – 65 years in age and have good credit score (750+).

Minimum Loan Amount:

The State Bank of India’s e-Mudra loan is designed to offer financial assistance to micro, small and medium enterprises (MSMEs). The minimum loan amount for applicants is ₹50,000 and the maximum loan amount is ₹5,00,000. Loan terms vary depending on the customer’s profile but can run up to 48 months.

Interest rates may vary depending on the customer’s creditworthiness. To calculate interest rates, the bank considers factors such as business turnover and repayment capacity.

The interest rate will also vary based on the customer’s risk profile and credit score/rating. The loan tenure and processing time may also depend on various factors such as customer’s credit history, financial records etc.

Along with the loan application, customers need to submit other supporting documents such as KYC documents, proof of identity/address of applicant(s), ownership details etc., along with other compliance documents that are required at the time of application submission.

The loan disbursement might be subject to successful completion of all paperwork and legal formalities related to the process.

Interest Rates of SBI eMudra Loan

SBI eMudra Loan offers competitive interest rates for individuals looking to finance their business. The interest rates offered depend on several factors such as the applicant’s financial situation and the loan amount sought. With SBI eMudra Loan, you can get competitive interest rates, secure online application, and fast disbursal. Let’s look at what interest rates are available on SBI eMudra Loan.

Fixed Interest Rates:

Fixed interest rates are one of the most popular loan options among borrowers. Fixed rate loans provide certainty and stability by allowing borrowers to lock in an interest rate for the entire life of the loan. This means that no matter how the market fluctuates, your monthly payments will not change.

Fixed interest rates also offer peace of mind in knowing that you won’t have to face any surprises on your loan payments when rates are shifting. At SBI eMudra, our fixed interest rates range between 10% – 16% depending on your credit score and other factors that our team reviews as part of your application process.

The only thing you need to consider when choosing a fixed rate is if it meets your current financial needs and if it will help meet your long-term goals.

Floating Interest Rates:

Floating interest rates are those that fluctuate depending upon market conditions. These changes can be affected by factors such as the government’s Reserve Bank Rate or RBI policy, economic indicators and global financial trends. Floating interest rates are typically adjusted periodically in an effort to keep up with current market conditions.

When considering a loan, it’s important to understand the details of a floating interest rate. Many lenders may offer different types of floating rates, including:

-Variable-rate loans: These rates are set and adjusted regularly by the lender on an ongoing basis. This type of loan typically has lower starting rates and can save you money if you choose to pay off your loan early or make extra payments.

-Tracker loans: These loans track another loan or rate such as the Base Lending Rate (BLR) or the Singapore Interbank Offered Rate (SIBOR). Your exact payment will depend on what other lenders are currently charging for similar products.

-Capped loans: Similar to tracker loans, these come with an upper limit on their floating rate, so if individual lender offerings increase sharply, yours remains capped at a certain amount – this provides more stability for your repayments in uncertain market conditions but may have been offered at a higher initial rate during negotiation.

It’s important to consider all aspects of your financial situation when deciding between fixed and adjustable mortgages so that you can make an informed decision that best meets your needs.

Repayment Options for SBI eMudra Loan

For SBI eMudra loans, you can repay the loan amount through easy and simple repayment options. SBI offers various repayment options, including auto-debits, EMI, one-time payment, post-dated cheques, and more. In this section, we will discuss all the repayment options in detail so that you can choose the one that best suits your needs.

EMI Options:

When applying for an SBI eMudra loan, you have the option to choose from several different repayment methods. The most common options are equated monthly installments (EMI), which divide loan payments into equal amounts to be paid on a monthly basis, and bullet payment, which entails making just one payment at the end of loan repayment period.

Depending on your financial situation and overall budget constraints, you can choose between either fixed or flexible EMI options.

Fixed EMI repayments require borrowers to pay the same amount each month during the term of the loan agreement. Meanwhile, with flexible EMI repayments, customers will pay a different amount every month depending on their own income and expenses during that particular period.

In addition, it is important to note that in case of a change in interest rate by banks during the tenure of the loan agreement then differential interest amount needs to be accounted for in adjusted EMI as well.

The other repayment options include:

-Part prepayment: As an SBI eMudra loan borrower, you have an option to make part prepaid on your existing loan date without any additional cost by paying off some of your outstanding balance at any given point in time. However, complete pre-payment may or may not be allowed as per soecific bank policies hence it is advisable to check before proceeding further with same.

-Lumpsum payment: In this method of repayment customers would need to make lump sum payments instead paying fixed EMIs spread out through tenure of a loan agreement however such type of payments usually release borrowers from debt much faster but can come with more risk involved than regular EMIs repayments since liquidity crunch might occur if adequate funds aren’t arranged upfront leading towards potential defaults where banks might impose severe penalties against them.

Prepayment Charges for SBI eMudra Loan

SBI eMudra Loan provides repayment options for borrowers to make payments towards their loan with ease and convenience. To ensure that borrowers are able to repay their loan without any added financial burden, SBI eMudra offers its customers with flexible repayment options and prepayment facilities.

Prepayment happens when a borrower makes an additional payment towards their loan amount before the due date. This helps reduce the overall loan burden and clears the dues at an accelerated rate. SBI eMudra offers repayment of loans without levying any prepayment charges, thereby allowing its customers to pay off their loans within the shortest possible time with no extra cost.

Additionally, SBI eMudra also provides customers with an option for partial prepayment in case one needs to clear some debt obligation or have some extra money at disposal. Customers looking to make partial prepayments can do so by specifying a particular amount that is lesser than the outstanding balance on their loans and submit it along with proof of payment in order to avail this facility.

Prepayment can be a great way to reduce your overall loan burden within a shorter period of time while avoiding hefty charges on both interest and principal payments. For SBI emudra customers, this facility is especially beneficial as they get access to it without having to worry about any charges or additional fees being levied on them for making such payments.


In conclusion, an SBI eMudra loan is an ideal option for entrepreneurs who require additional capital to start or expand their business. Applying online is fast and straightforward, so individuals have the option to tailor their loan requirements according to their needs.

With instant disbursement and flexible repayment tenure, this loan helps aspiring entrepreneurs realize their dreams. It enables them to access ready funds within a few days – helping reduce cash flow worries and giving them the freedom to focus entirely on the success of their venture.

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