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Important Financials
Maximum Loan Amount
Up to ₹10 lakhs
Interest Rate
8.25% to 16.95% p.a. (rates vary based on borrower profile, CIBIL score, and business conduct; linked to EBLR/MCLR)
Interest Type
Floating/Variable
Processing Fees
As per SBI's extant instructions and applicable to SBF/SSI units. Typically 0.40% to 0.65% of loan amount (maximum ₹30,000-₹60,000 as per latest SBI circular). Eligible borrowers under CGTMSE may receive 50% concession on processing and service charges.
Estimated Approval Time
Approx 7-15 working days (subject to document verification, KYC compliance, and CIBIL check; varies by branch and applicant profile).
Application Procedure
Application Mode
Online, Offline
Official Apply Link
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How to Apply: Step by Step Process
Steps
1. Visit the nearest SBI branch or apply online through SBI's official website/mobile app.
2. Fill the loan application form with accurate business and personal details.
3. Submit required documents (PAN, Aadhaar, GST, ITR, bank statements, business registration proof, etc.).
4. SBI will conduct CIBIL check, KYC verification, and business background verification.
5. Physical verification of business premises and documents by bank official.
6. Loan proposal is appraised and approved by the sanctioning authority based on assessment.
7. Post-approval, the bank will communicate sanction letter with loan terms, conditions, and documentation requirements.
8. Execute loan agreement, provide collateral documents (if applicable), and receive cheque book and passbook.
2. Fill the loan application form with accurate business and personal details.
3. Submit required documents (PAN, Aadhaar, GST, ITR, bank statements, business registration proof, etc.).
4. SBI will conduct CIBIL check, KYC verification, and business background verification.
5. Physical verification of business premises and documents by bank official.
6. Loan proposal is appraised and approved by the sanctioning authority based on assessment.
7. Post-approval, the bank will communicate sanction letter with loan terms, conditions, and documentation requirements.
8. Execute loan agreement, provide collateral documents (if applicable), and receive cheque book and passbook.
Requirement
Eligible Applicant Type
Individual, Registered Startup, Registered MSME
Documents Required
Aadhaar Card, PAN Card, Business Registration, Bank Statement, ITR / Financial Statements, GST Certificate
Additional Important Information
Scheme Type
Working Capital
Repayment Options
Standard EMI-Based Repayment
Repayment Tenure
Working Capital: Renewed every 1-2 years with annual performance review. Term Loan component (if opted): Up to 7 years including moratorium period.
Other Document Required (If any)
Other Documents
1. Proof of business ownership (Partnership Deed, Memorandum & Articles of Association for companies, Proprietorship declaration).
2. Last 6-12 months business bank account statements for cash flow assessment.
3. Utility bills or rental agreement for address proof (business and residential).
4. Audited financial statements (if applicable) or unaudited P&L for past 2 years.
5. Loan application form filled and signed by authorized signatory.
6. Passport-sized photographs of proprietor/partners/directors as per bank's KYC policy.
7. Copy of shop Act license or other business registration certificate (if applicable).
2. Last 6-12 months business bank account statements for cash flow assessment.
3. Utility bills or rental agreement for address proof (business and residential).
4. Audited financial statements (if applicable) or unaudited P&L for past 2 years.
5. Loan application form filled and signed by authorized signatory.
6. Passport-sized photographs of proprietor/partners/directors as per bank's KYC policy.
7. Copy of shop Act license or other business registration certificate (if applicable).
About The Provider
Provider Name
State Bank of India (SBI)
Provider Type
Bank
Official Website URL
Provider WhatsApp Number
Requirement Checklists
CIBIL Requirement
Not clearly specified with exact minimum score requirement. However, interest rates vary based on CIBIL profile (higher scores attract lower rates). Applicants with CIBIL score above 700 may qualify for better rates.
Turnover Requirement
Not clearly specified by official sources. However, the credit limit and eligibility may be assessed based on the applicant's business turnover, annual revenue, and financial conduct with the bank.
Minimum Business Age
Not explicitly specified by official sources for SME Credit Card specifically; however, general SBI SME loans require minimum 2-5 years of business operations depending on the specific scheme variant.
Geographic Restrictions
Available across India through SBI branches and digital banking channels.
Collateral Required?
Depends on case
Description of Collateral
Collateral requirements depend on loan amount and borrower profile. Under CGTMSE cover, eligible MSMEs can access up to ₹1 crore with partial collateral (primary security being the assets created from credit facility). For higher amounts or new applicants, collateral of 40% or more may be required.
Other Eligibility Conditions
Conditions
1. Registered with appropriate authorities (Proprietorship, Partnership, Private/Public Company, LLP, or MSME registration).
2. Active business operations with verifiable income documentation.
3. Positive conduct of bank account (if existing SBI customer).
4. Compliance with KYC (Know Your Customer) norms.
5. Applicant age typically between 21-65 years (or by loan maturity).
2. Active business operations with verifiable income documentation.
3. Positive conduct of bank account (if existing SBI customer).
4. Compliance with KYC (Know Your Customer) norms.
5. Applicant age typically between 21-65 years (or by loan maturity).
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About The Scheme In Details
What is the SBI SME Credit Card?
The SBI SME Credit Card is a flexible credit solution designed specifically for registered Micro, Small, and Medium Enterprises (MSMEs), SSI units, and business proprietors. It combines the convenience of a business credit card with traditional lending flexibility, allowing borrowers to access funds on-demand for any business requirement.
Who Should Apply?
Registered SMEs and SSI units
Individual business proprietors and traders
Shop owners and retail entrepreneurs
Service-based small businesses
Key Features at a Glance
Credit Limit: Up to ₹10 lakhs
Interest Rate: 8.25% to 16.95% p.a. (varies by profile)
Interest Type: Floating rates linked to EBLR/MCLR
Repayment: Flexible terms with 1-2 year renewal cycles
Collateral: Partial/no collateral for eligible MSME borrowers under CGTMSE
How It Works
The SBI SME Credit Card operates on a two-component structure:
Renewable Working Capital Facility – Renewed annually after performance review; ideal for day-to-day operational needs.
Optional Term Loan Component – Repayable up to 7 years including moratorium; perfect for fixed asset purchases or expansion.
This dual structure gives you the flexibility to choose repayment schedules that match your business cycle—whether you need short-term liquidity or long-term investment capital.
Why Choose This Scheme?
✓ No Collateral Required – Under CGTMSE guarantee scheme for eligible borrowers (up to ₹1 crore combined facility)
✓ Easy Digital Access – Online banking, cheque book, and passbook facility
✓ Fast Approval – Typically 7-15 working days with minimal documentation
✓ Competitive Rates – Interest rates linked to RBI’s benchmark rates
✓ Dedicated Support – Personalized SME lending team at SBI branches
Loan Usage
You can use the credit facility for:
Working Capital – Purchase of raw materials, inventory, or stock
Shop/Commercial Space – Purchase or renovation of business premises
Business Expansion – Equipment purchase, technology upgrades, staffing
Short-Term Business Needs – Any urgent operational or growth requirement
Key Benefits & Offers
Offers
1. Credit facility up to ₹10 lakhs for registered SMEs, SSI units, and business proprietors.
2. Easy access to working capital and purchase of shop/fixed assets without collateral for qualifying applicants.
3. Competitive interest rates starting from 8.25% p.a., linked to EBLR/MCLR based on credit profile.
4. Cheque book and passbook facility with online banking access and minimal documentation requirements.
2. Easy access to working capital and purchase of shop/fixed assets without collateral for qualifying applicants.
3. Competitive interest rates starting from 8.25% p.a., linked to EBLR/MCLR based on credit profile.
4. Cheque book and passbook facility with online banking access and minimal documentation requirements.
Target Group (Tags)
Disclaimer from Debt / Loan Provider
Any official terms & conditions link
Disclaimer
This loan is subject to SBI's credit policies, RBI regulations, and the applicant's satisfactory creditworthiness, KYC compliance, and business credentials. Interest rates are floating and may change based on monetary policy and the bank's lending rate revisions. Borrowers are responsible for timely repayment; default may result in legal action and asset seizure as per the bank's lending agreements. The loan is provided "as-is" with no guaranteed approval; rejection may occur based on credit assessment. Please refer to the official SBI website and branch for the latest terms, conditions, and eligibility requirements.
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Disclaimer: StartupMandi is an independent professional service platform and is not a bank, NBFC, financial institution, or government authority. We are not affiliated with, endorsed by, or officially connected to the respective lender or scheme provider. We do not provide loans directly. Our role is limited to sharing publicly available information and offering optional assistance services. All scheme details, images, documents, and information are sourced from official websites, public announcements, and publicly available resources. Applicants are advised to verify all information directly with the respective financial institution before applying.
