SBI Kishore Mudra Loan offers financing between Rs.50,001 and Rs.5 lakh.
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Under PMMY Scheme
This loan falls under the 'Kishore' category of Pradhan Mantri Mudra Yojana (PMMY) loans, specifically designed to support micro-businesses.
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Target Beneficiaries
Aimed at micro-entrepreneurs engaged in various sectors including manufacturing, trading, services, and allied agricultural activities, empowering diverse business ventures.
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Flexible Repayment Terms
With a maximum tenure of 5 years and a moratorium period of up to 6 months, the repayment structure is designed to accommodate the financial needs
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Ease of Application
The application process is simplified, especially for loans up to Rs.50,000, which can be applied for online via SBI e-Mudra, reducing paperwork and time involved.
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Quick Processing
Compared to traditional business loans, SBI Kishore Mudra Loan offers relatively faster processing, enabling entrepreneurs to access funds promptly for their business needs.
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Competitive Interest Rates
The loan comes with attractive interest rates, making it a cost-effective financing option for micro-entrepreneurs seeking to grow their businesses.
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Eligibility Criteria
To qualify for the loan, applicants must hold an existing SBI current or savings account with a minimum account history of 6 months
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Required Documentation
Applicants need to submit essential documents including application form, KYC documents (ID proof, address proof), proof of business existence, and bank statements.
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Small Cash Loan on Aadhar Card : घर बैठे आधार कार्ड से लोन लें मात्र 5 मिनट में, जाने कैसे?