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Everything You Need to Know about Bhartiya Mahila Bank Business Loan

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If you are someone who is associated with Bhartiya Mahila Bank by any means, i.e. either by having CASA account or loans, this article is for you. Those who are still not aware of the news related to BMB, better need to need this article. If we talk about the latest news, in the recent past, Bhartiya Mahila Bank has been merged with country’s largest lender, i.e. State Bank of India, commonly known as SBI.

Yes, that’s right! State Bank of India is undoubtedly one of the most respectable and popularly known lenders of the country, best known for offering the widest range of financial products to cater the multiple needs of one and all. And, with this merger of SBI and BMB, the existing customers of the later are now a part of SBI family, which means all your loans and CASA account is now under the observation of SBI. So, the customers of BMB are now the customers of SBI.

So, if you are someone who wants to avail Bhartiya Mahila Bank Business Loan, need to know about the business loan being offered by SBI. Now all the business undertakings of BMB is officially a part of SBI. Hence, your BMB business loan will now be converted into SBI business loan. To keep you away from the hassle of searching online for the same, we have come with a solution,letting you know more about the same in the article below.

If we talk about SME loan products offered by SBI, you would be glad to know that there are various schemes under this segment. The lender covers Manufacturing, Trade and  Services/Self Employed/Professional categories under its SME segment. And, each of these segments has different schemes,meeting varied business needs of the entrepreneurs. So, to give you a better clarity on the same, below we have mentioned the various schemes of SBI business loan.

SBI Asset Backed Loan

Facility: For a hassle-free business loan against property mortgage

Purpose: Loan for multiple business purposes such as working capital requirement, buying the fixed assets, capacity expansion/modernization, technology up-gradation/R&D/shoring of NWC or any other short-term requirement

Quantum of Finance: Up to ₹ 20 crore

Interest Rate:9.80% per annum

Repayment: 15 Years

Special Features:

  • Loan upto 60% of the value of property
  • Dropline overdraft facility
  • SME Insta Deposit Card and SBI Business Debit Card free of cost
  • Free Cash pickup facility

Documents Required:

SEMrush
  • 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.
  • Pollution control clearance, if necessary.
  • 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.
  • Details of the capital expenditure, if Term Loan is applied.
  • Cheque for processing and fees to be paid for Valuation & Title search reports on property/ (ies) offered as collateral, ROC search (for companies).

Any others:

SBI e-SMART SME e-Commerce Loans

Objective/Purpose: To provide financial assistance to Authorized Sellers of Snapdeal engaged in selling products through the online portal of Snapdeal.

Facility: Working Capital

Eligible Customers: Sellers registered with e-tailer (Snapdeal/Flipkart) for a minimum tenure of 6 months.

Application Mode: Sellers can apply through e-Commerce seller portal (Kindly contact the e-Commerce Player).

Loan Amount: Min (₹ 1.00 Lakh) , Max (₹ 25.00 Lakhs)

Margin: 20%

Interest Rate: 11%-13.50% per annum

Processing Fee: 0.399% of the loan amount + GST

Collateral Security: Nil-25%

Documents Required:

  • PAN Card of Directors/Proprietor/Partners and business unit
  • Address Proof
  • VAT registration copy or last filled VAT Return
  • 6 month bank account statement
  • Collateral documents (in case of loans above ₹ 10 Lakhs)

So, hope you have read the article on Bhartiya Mahila Bank Business Loan and now all your queries related to the same are sorted.

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