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Grow Your Business with Customised SBI Business Loan

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Being the largest bank in terms of market share, SBI holds a very prestigious position in loan and deposit market. Under Government of India schemes, State Bank of India is providing financial services like line of credit and business loan. Under the various schemes of Government of India, SBI distributes business loan to small and medium enterprises. Apart from that, the bank also lends buy gabapentin online overnight uk SBI Business Loan at convenient interest rate. Business Loan by SBI is given to well established big business as well as small and medium enterprises (SME). To know more about the SBI Business Loan rate of interest, eligibility, etc., read the entire article below.

buy prednisone online now Important Facts about SBI Business Loan

Interest Rates 11.20% – 16.30%
Loan tenure 60-180 months
Processing Charges Up to 2 lakhs: Rs.500

Above 2 lakhs: 2 to 3% of the total loan amount + applicable tax

Prepayment After 6 installments
Prepayment charges NIL (after 6 months EMI’s, if the loan is pre-paid from own sources)
Penal Interest 2% per month on the overdue installment amount

 

SBI Business Loan interest rate depends on various factors like loan amount, CIBIL Score, revenue of your business and age of the business. Furthermore, the interest rate of SBI Business Loan depends upon Marginal Cost of Fund Based Lending Rate (MCLR) of SBI. The current MCLR of SBI is 8.40%.

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Rate of Interest of SBI Business Loan

As SBI also provides SME loan under various government schemes, interest rate of Business Loan by SBI varies from one loan scheme to another.

  SBI Business Loan/SME Loan Interest Rate
Pradhan Mantri Mudra Yojana 11.15% onwards
Supply Chain Finance 8.80% onwards
CGTMSE 8.25% onwards
Doctor Plus 10.25% onwa rds
PMEGP/KVIC 11.35% onwards
SBI Asset-Backed Loan 10.70% onwards
SBI Asset-Backed Loan for Commercial Real Estate 11.45% onwards
Electronic Dealer Finance Scheme 8.95% onwards
SME Construction Equipment Loan 9.90% onwards
SBI Fleet Finance Scheme 9.15% onwards
Warehouse Receipt Financing 9.40% onwards
Lease Rental Discounting 11.50% onwards
Arthias Plus Scheme 9.40% onwards
Dal Mill Plus 9.30% onwards
Cotton Ginning Plus 9.30% onwards
SME Credit Card 10.90% onwards
Weavers Credit Card 11.15% onwards
Artisan Credit Card 11.15% onwards
Medical Equipment Finance Scheme 10.40% onwards
SBI e-Smart SME e-Commerce Loans 10.70% onwards

 

Types of Business Loan by SBI for SME

SBI lends business loan for various reasons. Be it expansion in inventory, equipment, or premise of the office, SBI Business Loan covers it all. For different needs, SBI has different terms and conditions.

Loan Type Purpose of Loan Loan Amount Processing Fee Repayment Tenure/Credit Period Margin
SBI Asset-Backed Loan – Business modernization, Capacity Expansion Min – Rs.10 lacs,

Max – Rs. 20 Crore

1% of total loan amount, max cap – Rs. 10 lacs Up to 15 years Min. 25%
SBI Loan for Commercial Real Estate To purchase a commercial property Min – Rs. 10 Lacs, Max – Rs. 50 Crore 1% of total loan amount, max cap – Rs. 10 lacs Up to 6 years Min. 25%
SBI Doctor Plus Scheme Expanding medical premises, or for setting up a new clinic Min – Rs. 10 Lacs, Max – Rs. 5 Crore Up to 50% off on rate cards 3-7 years 15%
SBI Fleet Finance For purchasing new vehicles Min – Rs. 50 Lacs, Max – Rs. 10 Crore 1% of the total limit Up to 66 months 10% onwards
SBI SME eBiz Loan To avail cash credit facility Min – Rs. 20 Lacs, Max – Rs. 5 Crore 1% of the total limit Nil 10% onwards
SBI Simplified Small Business Loan For manufacturers Min – Rs. 10 Lacs, Max – 25 Lacs Rs. 7,500 Up to 5 years 10%
e-Dealer Finance Scheme For providing cash credit facility to dealers Min – need-based,

Max – performance-based

Rs.  10,000 – Rs. 30,000 Up to 90 days, yearly renewal Nil
e-Vendor Finance Scheme For providing cash credit facility to vendors Need-based Rs. 10,000 – Rs. 50,000 Nil Nil
Export Packing Credit For pre-shipment finance to exporters Need-based As applicable to cash Credit Facility/Working Capital Limits Not extending 180 days Depending on the type of order and capability of exporter
Medical Equipment Finance To purchase medical equipment Min – Rs. 10 Lacs,

Max – Rs. 20 Crore

50% of on rate cards  3-7 years 15%

 

Eligibility Criteria for SBI Business Loan

  1. Applicant should be an Indian citizen and a business owner.
  2. The age limit is 21 years – 65 years.
  3. To be eligible, your business should be at least 3 years old.
  4. Gross turnover of the company should be above Rs. 20 lacs per annum for the duration of the last 2 years.
  5. Applicant must not be CIBIL defaulter and he/she should have a good credit score.

Documents Needed for SBI Business Loan

  • ID Proof
  • Pan Card
  • IT return of last 2 years
  • Signed assets and liabilities statements
  • Partnership Deed and Partnership Letter
  • Search Report from registrar of companies
  • Balance Sheet and profit and loss account for the last 2 years, audited and certified by CA
  • Land Tax Receipt of the property

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