The SBI Stree Shakti Loan scheme is a special initiative aimed at empowering women entrepreneurs. This scheme provides financial support of up to ₹24 lakh to help women start or expand their businesses.
Key Features of the SBI Stree Shakti Loan
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Loan Amount: Up to ₹24 lakh.
Interest Rate Benefits: Women entrepreneurs receive a concession on interest rates, with an additional 0.5% discount on loans up to ₹2 lakh.
Collateral: No collateral is required for loans up to ₹10 lakh.
Repayment Tenure: Flexible repayment options with easy installments.
Processing Fees: Minimal or zero processing charges.Eligibility
- Target Group: Women looking to start or expand their business.
- Ownership: The business must have at least 51% ownership by women.
Application Process
Submit an Application: Visit the nearest SBI branch and fill out the Stree Shakti Loan application form.
Provide Necessary Documents:
- Aadhaar and PAN card.
- Business details (project report).
- Income proof.
Verification: The bank will review your application and documents.
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Loan Approval and Disbursement: Upon approval, the loan amount will be transferred to your account.Required Documents
- Proof of identity and address.
- Business-related documents.
- Recent bank statements.
- Passport-sized photographs.
Highlights
This initiative by SBI and the Government of India is part of a broader effort to make women financially independent. Whether you’re starting a new business or expanding an existing one, the Stree Shakti Loan Scheme provides financial aid with reduced interest rates, no collateral for small loans, and simplified repayment terms.
