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SBI, the 45th largest public sector bank in the world with assets worth Rs. 37 lakh Crore and a customer base of 500 million is indeed the largest bank in India. The SBI business loan is provided to the eligible candidates covered under the SME segment. The aim of providing SME loan is to assist the small and medium-sized enterprises.
Table of Contents
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 Advertisements
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 |
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