Sbi Business Loan Interest Rate

Sate bank Of India(SBI) Business Loan interest rate

Interest Rates	6.70% p.a. onwards
Loan Amount	Up to Rs. 500 Crores
Tenure	Up to 5 Years
Loan Processing Fee	Up to 1% of the limit
CIBIL Score	750+
Foreclosure Charges	3%

SBI Business Loan Features and Benefits

– A host of Business Loans to match with diversified customer requirements.
– The SBI business loan interest rates start from 6.70 % p. a.
– The need-based funding available for all types of business operations.
– Collateral-free loans available for MSMEs.
– The application process is simple, as well as easy to follow.
– Business loan for womens in SBI comes at concessional interest rates.

SBI SME Loan Details

Particulars	Details
Interest Rate	9.05% – 16.30% (Linked to MCLR)
Loan Amount	Up to Rs. 20 crores
Tenure	Working Capital – 1 year Term Loan – Up to 15 years
Processing Fee	Concessional
Annual Guarantee Fee	Up to 1%

SBI Business Loan Eligibility Criteria

– Existing Fleet Operators (Goods or Passengers) having experience of 5 years or more in the same line.

– Fleet operator having existing fleet of minimum 10 vehicles.

– Requirements of minimum 10 new vehicles or minimum loan amount of Rs. 50 Lacs.

– Transport operators holding national/ state route permit and other necessary permits/licence/approval.

– Satisfactory track record with existing banks/FIs

– Income Tax assesse (personal and business) eligibility is linked to the scores obtained underscoring model.

How to Apply for SBI Business Loan

A business owner can apply for SBI Business Loan in any of the way suitable for them. There are no hassles involved, whatsoever. You can primarily opt for any of the following methods:

Online Application: If you are looking for quick processing of your SBI business loan, apply online by filling the online application form on their website. Their business loan representative will contact you and assist you with the documentation and for the procedure.

Call Customer Care: You can request a call back by contacting the SBI customer care on their toll-free number.

Visit the Branch: Alternatively, you can visit the nearest SBI branch and submit the application physically. However, in this digital age, more and more customers are opting for the online route.

SBI SME Loan Schemes

State Bank of India provides SME loans under three different schemes:

– SBI Asset-Backed Loans
– SBI Fleet Finance Scheme
– Collateral Free Loans

1. SBI Asset-Backed Loans

The Bank provides a loan for the business purpose against the mortgage of property. The funds given under this scheme can be utilized for the purpose such as – purchasing of fixed assets, capital expansion, upgradation or for working capital and other short-term requirements. The facility can be availed is up to Rs. 20 Crores for the maximum repayment period of 15 years.

2. SBI Fleet Finance Scheme

The bank provides finance up to Rs. 10 crores for the period of 5 years and 6 months to the transport operators owning a fleet of commercial vehicles like trucks, trailers, tankers, buses etc.

3. SBI Business Loan without Collateral

The eligible candidates can avail the benefit of a collateral free loan up to Rs. 1 crore for the maximum period of 7 years. Under this scheme, the funds are provided as working capital and term loan. The tenure of working capital is 1 year. However, it can be renewed in every two years.

SBI Business Loan Calculator

SBI Business Loan EMI Calculator or SBI SME loan calculator is a device made to assist the people in calculating the EMI, that is payable each month, against the loan taken. It is the amount the borrower pays to settle the loan over the tenor. It makes the calculation quick and simple. The user only needs to enter the loan amount, tenure and the rate of interest in the calculator. The calculator shows the EMI amount and the total repayment amount.
For Example- An applicant avails o loan of Rs. 1,00,00,000 for the period 15 years at an assumed interest rate of 15% p.a. then his EMI will be Rs. 1,39,959. He has to make the total repayment of Rs. 2,51,92,568.

Loan Amount (in Rs.)	Interest Rate (p.a.)	Tenure (in years)	EMI (in Rs.)	Total Interest Amount (in Rs.)	Total Repayment Amount (Principle+ Interest) (in Rs.)
1,00,00,000	15%	1	90,258	83,100	10,83,100
1,00,00,000	15%	2	48,487	1,63,680	11,63,680
1,00,00,000	15%	3	34,665	2,47,952	12,47,952
1,00,00,000	15%	4	27,831	3,35,876	13,35,876
1,00,00,000	15%	5	23,790	4,27,396	14,27,396
1,00,00,000	15%	6	21,145	5,22,441	15,22,441
1,00,00,000	15%	7	19,297	6,20,927	16,20,927
1,00,00,000	15%	8	1,79,454	72,27,589	1,72,27,589
1,00,00,000	15%	9	1,69,243	82,78,284	1,82,78,284
1,00,00,000	15%	10	1,61,335	93,60,195	1,93,60,195
1,00,00,000	15%	11	1,55,091	1,04,72,077	2,04,72,077
1,00,00,000	15%	12	1,50,088	1,16,12,625	2,16,12,625
1,00,00,000	15%	13	1,46,029	1,27,80,484	2,27,80,484
1,00,00,000	15%	14	1,42,704	1,39,74,267	2,39,74,267
1,00,00,000	15%	15	1,39,959	1,51,92,568	2,51,92,568

Year	Principal	Interest	Balance Amount (in Rs.)
1	1,92,379	14,87,129	98,07,621
2	2,23,303	14,56,205	95,84,318
3	2,59,201	14,20,307	93,25,117
4	3,00,866	13,78,642	90,24,251
5	3,49,233	13,30,275	86,75,018
6	4,05,374	12,74,134	82,69,644
7	4,70,541	12,08,967	77,99,103
8	5,46,184	11,33,324	72,52,919
9	6,33,984	10,45,524	66,18,935
10	7,35,899	9,43,609	58,83,036
11	8,54,198	8,25,310	50,28,838
12	9,91,515	6,87,993	40,37,323
13	11,50,906	5,28,602	28,86,417
14	13,35,919	3,43,589	15,50,498
15	15,52,224	1,28,835

SBI Business Loan Documents Checklist

1. Document Checklist for SBI Asset-Backed Loans

Constitutional Specific Documents

Constitution	Documents
Partnership Firm	Partnership deed
Trust	Trust deed
Society	By laws of Society, Registration Certificate from the Registrar of Societies
Private Ltd. Company	Certificate of Incorporation/ Memorandum and Articles of Association
Public Ltd. Company	Certificate of Incorporation/ Memorandum and Articles of Association, Certificate of commencement of business

List of Common Documents

Audited balance sheet of the last three year

Brief detail of Proprietor / Partners / Promoters / Directors

KYC documents for promoters / units

Copy of IT Returns of promoters / Firm for the last three years

Copies of license, permission approval by regulatory authority , where applicable

Availability of utilities like power etc.

Details of collateral security (including third party guarantee proposed to be offered

Signed statement of Assets and liability from proprietor / partner guarantors

Copies of other Bank’s sanction letter and statement of accounts (last 6 months)

Copy of the title deeds of the Factory / Shop/ Godown/ collateral security

Cheque for processing and fees to be paid for Valuation & Title search reports on property/offered as collateral, ROC search

Details of the capital expenditure, if Term Loan is applied

2. Documents Checklists for Fleet Finance Scheme & Collateral Free Loan

Category	Documents
Application	Application Form, Bio-Data form, DD for processing fee
Proprietor /Partners / Guarantors	Brief Profile, Photo, Passport/EC ID Card/Driving License, Telephone Bill / Ration Card, PAN Card, IT Return for 2 years, Assets & Liabilities Statement
Unit	Partnership Deed & Partnership Letter, Pan Card, IT Return for 2 Years, Board Resolution, SSI Registration, Panchayat License
Balance Sheet	Actual – Past 3 years, Estimated – Current Year, Projected – Next Year, Projected – [for Term Loan], CMA form
Associate Units	Brief Profile, Balance Sheet, Opinion Report from Bankers
Renewal / Enhancement	Stock Statement, Last inspection report, Term Loan Review, Copy of last sanction note, Confirmation of irregularity, if any,
Take over	Copy of sanction letter, Statement of account for 1 year, Credit Information Report
Property	Original Title Deed, Prior Deeds, Land Tax Receipt, Building Tax Receipt, Possession Certificate, Location Certificate, Location Sketch, Non-PR & LA Certificate, EC for 30 Years

SBI Business Loan Charges

Processing fees associated with SBI Business Loans are as follows:

Type of SBI Business Loan	Processing Charges
Asset Backed Loan/ Asset Backed Loan – Commercial Real Estate	1% of the limits (maximum Rs. 10 Lakhs)
e Dealer Finance Scheme/ e Vendor Finance Scheme	Rs. 10,000 – Rs. 30,000
Fleet Finance	1% of the limit
PM Mudra Yojana	0.50% + applicable tax for Tarun
SME eBiz Loan	1% of limit sanctioned + applicable taxes for 1st year & 0.35% + applicable taxes for 2nd year onwards.
Simplified Small Business Loan	Rs. 7,500
Warehouse Receipt Finance	Up to Rs. 3 Lakhs
Finance to Food Processing Industry	Up to 0.40% of loan amount (maximum Rs. 40 Lakhs)
Loans to Business Correspondents	0.50% for loans above Rs. 50,000
SBI OD Product	1% of loan amount
SME Gold Loan	Rs. 500 – Rs. 1,000 + applicable taxes