SBI MUDRA Loan – Shishu
About This Loan
SBI's MUDRA Shishu loan provides up to ₹50,000 for new and budding entrepreneurs to start small businesses. No collateral required, minimal documentation, and quick processing. Ideal for street vendors, home-based businesses, artisans, and first-time entrepreneurs.
Maximum Amount
₹50,000
Interest Rate
As per RBI guidelines (typically 10-12% p.a.)
Tenure
Up to 5 years
Collateral
Nil
Processing Fee
Nil for Shishu category
Eligibility
Indian citizen with a viable business plan for non-farm income generating activity; KYC compliant; not a defaulter with any bank.
Application Process
- 1Visit nearest SBI branch or apply online via onlinesbi.sbi
- 2Fill MUDRA loan application form
- 3Submit KYC documents and business plan
- 4Branch manager evaluates the application
- 5Loan sanctioned within 7-14 working days
Documents Required
- MUDRA loan application form
- Passport-size photos (2)
- Identity proof (Aadhaar/PAN/Voter ID)
- Address proof (Aadhaar/utility bill)
- Business proof or activity description
- Quotation of machinery/equipment (if applicable)
Official Links
Related Government Schemes
Disclaimer
This information is sourced from publicly available bank and financial institution websites. EduMetrics is not a financial advisor or lending institution and does not guarantee the accuracy of interest rates, eligibility criteria, or loan terms. Please verify all details with the respective bank before applying.