Keep Your Business On Track Always with SBI Business Loan

Lower Interest Rate | Easy Application Procedure | Flexible Repayment

Apply for SBI Bank Business Loan

Apply Now Contact Us
SBI Business Loan

 

Eligibility & Documentation


SBI Business loan can help you raise capital for expanding a business or to invest in machinery, plants, business expansion, or commercial assets company. With My Mudra’s hassle-free application process, you can get a business loan, and the funds will be credited to your account once your business loan is approved.

 

 

 

 

 

SBI Business Loan Eligibility Criteria

 

 

Salaried Individuals

Self-Employed Individuals

Business / Company

Entitled Borrowers

Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses

Proprietor /

Partners / Directors

Partnership or Private Limited firms engaged in Manufacturing, Servicing, or Trading

 

 

Self Employed Professionals such as Chartered Accountants, Company Secretary & Doctors

 

Age

The person should be 21 years old at the time of loan application and his maximum age should be 65 years

Applicant must be a minimum

of 21 years of age at the time

of application and should

be a maximum of 65 years

at loan maturity.

Proprietor / Key Partner /

Main Director must be a minimum

of 25 years at the

time of loan application and should

be a maximum of 65 years at

loan maturity.

Experience / Vintage

Minimum 3 years in current business/profession

Bank related details

· A current account holder at any bank for at least two years (proprietorships, partnerships, corporations).

· Monthly threshold balance of Rs.10,000 /- & Min.

· Credit summations exceeding Rs.50 lakhs in the last 12 months.

·  The unit is located within 10 km of the financing branch. 

Residence / Office Stability

· Existing business for at least 3 years in the same locality/area.

· Must own the premises, or have a valid lease agreement with the owner of the premises.

· If the shop is rented, the residual period should be a minimum of 3 years, with a minimum stay of 1 year at the rented/leased premises.

Citizenship

Individuals with Indian citizenship

Individuals with Indian citizenship

Proprietor / Partners / Directors with Indian citizenship

Other documents

The applicant should fulfill the Go/No Go criteria as well.

eligibility

How to improve your SBI Business Loan Eligibility?

Follow these tips to improve your SBI Business Loan Eligibility –

Get Rid of Debts

Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting

Maintain a good CIBIL Score

Try to build a CIBIL score above 750

Do not apply for multiple loans simultaneously

Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness

Choose a longer loan tenure

Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.

Add Co-applicants

A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.

improve-eligibility

Here's what our customer have been saying about us

Our partners from across the industry

We collaborate with the best and biggest in the banking & financial world to get you relevant products at great rates.

Apply Now
indiabulls city-bankidfc-bank poonawala-fincorp
standard-charted bajaj indusind kotak chola lending-kart fullerton-india icici axis
partner-mobile

Your Data Is Secure With Us.

We employ best-in-class security practices and procedures to keep your information secure every time.

security-icon-1

Security

From taking regular backups to using stronger passwords, we strictly prohibit any kind of unauthorized access of your crucial data, corruption, or theft throughout its life cycle.

security-icon-2

Privacy

We identify all the different ways your privacy could be at risk and have prepared safeguards to help you protect yourself online with us. Your privacy is important to us.

security-icon-3

Compliance

We are ISO 27001:2013 and SOC2 Type 2 compliant which instills trust into the hearts of our customers. We are secured with SSL and a certified GSP (GST Suvidha Provider).

Recent Blogs

See More

Our blogs are where you get the latest news along with insights from industry experts.

Business Finance
Insurance

Business Finance

By My mudra

02-08-2022

Personal Loan
Insurance

Personal Loan

By My mudra

02-08-2022

loan against property
Insurance

loan against propert...

By My mudra

02-08-2022

Home Loan and Home Renovation Loan
Insurance

Home Loan and Home R...

By My mudra

20-07-2022

Teaching Personal finance to our kids 
Insurance

Teaching Personal fi...

By My mudra

07-06-2022