50,000 in just 5 minutes without documents, this is how to avail the benefits of this SBI scheme
If you have lost your job due to Corona virus and now you want to start a small self-employment and you urgently need money then Mudra loan can help you.
New Delhi: If you have lost your job due to Corona virus and now you want to start a small self-employment and you urgently need money, Mudra loan can help you. Those who have a savings account or current account with State Bank (SBI) can take e-currency loan up to Rs 50,000 from SBI.
The best thing about e-MUDRA loan is that you do not have to go to the bank branch for it. You can apply for it online from home. SBI is offering e-currency loans of up to Rs 50,000 in just 3 minutes to its customers without any documents.
Let me tell you that e-Mudra loans are given only to small scale industries. For this you need to have at least 6 months old current or savings account with SBI Bank. The maximum term of e-Mudra loan is 5 years. But if you want to take a loan of more than Rs 50,000, you have to go to a bank branch and complete the necessary process. You will also need to provide documents and business details.
In e-mudra loans, small traders can take loans of up to Rs one lakh. But it will require some documentation.
Looks like this document
To apply for an e-currency loan of more than Rs 50,000, you will need to provide your savings account or current account number and branch details. In addition, you need to provide a certificate of any business or business you do. The Aadhaar number should be linked to your bank account. In addition, the bank will also have to show the business registration document along with the GSTN number and the size of the shop or business. You will also need to provide a caste certificate if you come from a reserved category.
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