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How can I get business loan from State Bank of India?

Author

Sarah Oconnell

Published Feb 24, 2026

How can I get business loan from State Bank of India?

SBI offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business.

SBI Eligibility Criteria.

Eligibility CriteriaDescription
Loan Amount\u20b9 5 Lakh to \u20b9 100 Cr
Loan Tenure48 months
Owned House or Place of WorkNot Required
CIBIL Score750 and above

Consequently, what are the documents required for business loan in SBI?

SBI Business Loan DocumentsPAN Card. Identity Proof – Voter ID / Driving License / Passport / Aadhar Card (Any one can be submitted) Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement (Any one can be submitted)

Similarly, which bank is best for business loan? Compare Best Business Loan Interest Rates May 2020

BankBusiness Loan Interest RatesProcessing Fee
HDFC Bank Business Loan15.65%Starting from 0.99%, Max 2.50%
ICICI Bank Business Loan16.49%Starting from 0.99%, Up to 2%
Citibank16.00%Upto 2%
RBL Bank16.25%1.80-2.20% of loan amount

In respect to this, how can I get business loan from Bank?

Here are seven steps to take when applying for a business loan from the bank.

  1. Have a proper business plan.
  2. ?
  3. State the amount of money you need.
  4. Be keen on your credit score.
  5. Clean up your credit report.
  6. Assess all your lending options.
  7. Keep proper financial records.

How can I get business loan from bank in India?

Here are the top five business loan schemes from the government of India that you can avail for small business finance.

  1. MSME Business Loans in 59 Minutes.
  2. MUDRA Loans.
  3. Credit Guarantee Fund Scheme for Micro and Small Enterprises.
  4. National Small Industries Corporation Subsidy.

What is the eligibility for Mudra loan?

A business that needs capital to establish itself is eligible for a loan of Rs. 50,000 to Rs. 5 lakh (Kishor loan) while an established business that need capital for expansion can apply for a Mudra loan of Rs. 5 lakh to Rs.

How can I get a first time business loan?

You'll want to have a great personal credit score, strong business financials (or at least an impressive business plan,) as well as ample collateral to qualify for a first-time business loan from a bank. If you have a few years in business and solid annual revenue, you'll be even more likely to qualify.

What are the documents required for SME loan?

Documents Required for Availing SME Loans
Passport, Aadhaar Card, Driving License, Voter's ID, PAN Card, etc. Aadhar Card, Passport, Voter's ID, Driving License, etc.

What is the eligibility for business loan?

Factors Deciding Business Loan Eligibility
Age Limit: The applicant should be min 21 years & max. 65 years. Income: Business should be profit making at least for the past 2 years. Turnover: ₹150,000 p.a. should be the minimum annual income.

Does SBI provide business loan?

SBI offers business loans with loan tenure up to 36 months that translates into a lowest loan EMI of Rs. 2,594 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by SBI on business loan is 11.20%.

How many types of loans are available in SBI?

SBI Home Loan Interest Rate
ProductsInterest Rates
SBI Regular Loan7.90%8.10%
Maxgain-Home loan8.20%8.35%
SBI Flexipay Home Loan8.75%8.80%
SBI Tribal Plus10 bps above Floating Card Interest Rates

How can a woman get a business loan?

Women can get small-business loans through online lenders, credit unions and banks. Online lenders offer more speed, convenience and looser qualifications than most credit unions and banks, but may charge higher rates.

What is the interest rate for business loan in SBI?

SBI Business Loan Interest Rates India
Interest Rate11.20%
Processing FeeFrom 2% to 3%
TenureFrom 12 months to 48 months
Lowest EMI per lakh₹ 2,594
Loan AmountMin ₹ 5 Lakh and Max ₹ 100 Cr

How can I start my own business with no money?

How To Start A Business When You Have Literally No Money
  1. Ask yourself what you can do and get for free.
  2. Build up six months' worth of savings for expenses.
  3. Ask your friends and family for extra funds.
  4. Apply for a small business loan when you need extra cash.
  5. Look to small business grants and local funding opportunities.
  6. Find out about—and woo—potential angel investors.

What does a bank look for when giving a business loan?

To qualify for a loan, banks look for the “Five Cs” of credit -- capacity, collateral, capital, character and conditions. If your business is lacking in any of these areas, obtaining a small business loan may prove difficult.

How can I get a business loan without security?

Thus, there are two types of Business Loans:
  1. Secured Loans – To avail this business loan, borrowers need to pledge collateral.
  2. Unsecured Loans – No security or collateral is required by the financial institution.

What is a good credit score to get a business loan?

Business loan providers generally consider a credit score that falls somewhere between 640 and 700 to be good—but not excellent. Generally speaking, a sub-700 personal credit score will make it more difficult to qualify for bank and SBA funding.

How do I get money to start a business?

Ways to Raise Money for Your New Business
  1. Tap Personal Savings. Tapping your own piggy bank is the easiest way to finance a small business.
  2. Sell Personal Assets.
  3. Take On A Side Gig.
  4. Use Credit Cards.
  5. Borrow Against Your Home.
  6. Take Out a Bank Loan.
  7. Cash in Retirement Accounts.
  8. 7(a) Loan Program.

How much of a business loan can I get?

Business lenders typically offer anywhere from $100,000 to $5 million or more. The maximum amount you can borrow depends on the type of business loan and lender.

How much bank loan can I get for business?

2 crore as the loan amount, with a maximum loan term of 48 months. The Express Business Loan can be availed by micro SME enterprises if a requirement for funds arises. Borrowers can avail up to Rs. 10 lakh and choose a loan term between 12 months and 36 months.

How do start my own business?

10 Steps to Start a Small Business
  1. Step 1: Do Your Research.
  2. Step 2: Make a Plan.
  3. Step 3: Plan Your Finances.
  4. Step 4: Choose a Business Structure.
  5. Step 5: Pick and Register Your Business Name.
  6. Step 6: Get Licenses and Permits.
  7. Step 7: Choose Your Accounting System.
  8. Step 8: Set Up Your Business Location.

What is the average interest rate on a business loan?

Average Small-Business Loan Interest Rates by Lender
The average interest rate on a conventional small-business loan is around 4% to 6%. That said, interest rates will vary across lenders, with banks typically offering lower rates than alternative or online lenders.

Which bank is best for business loan in India?

ICICI Bank

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