The SBI Stree Shakti Yojana is a loan scheme launched by the Central Government of India with the help of the State Bank of India to provide financial assistance to women entrepreneurs. With this scheme, women entrepreneurs will be able to get a loan to start their own businesses.

The Stree Shakti Loan SBI offers women a loan amount of up to 25 lakhs at low interest rates if they own at least 50% of the business. They can also get an unsecured loan of 5 lakhs under this scheme.

The interest rates for the SBI Stree Shakti loan provide an overview of the total cost of borrowing. The rates offered are typically low and will be given as per the prevailing rate. The interest rates will depend on the loan amount and the credibility of the borrower. Here are the rates as per the loan amount:

• For loan amounts ranging between 50,000 to 2 lakhs, the interest rate will be as per the prevailing lending rate.
• For loan amounts exceeding 2 lakh, the rate of concession will be 0.5%.
• A special concession of 5% will also be considered in some cases.

Eligibility Criteria For SBI Stree Shakti Yojana

The eligibility criteria determine the requirements that women entrepreneurs must meet to secure the SBI Stree Shakti Yojana. These requirements are:

• The businesswoman must be a citizen of India.
• She must own 50% or more of the business to be eligible for the loan.
• Women who work as doctors, CA, or architects will also be eligible for the loan.
• Small business sectors including retail, dairy, farm, clothing, homemade products, cottage industries, papad making businesses, sale of fertilisers, cosmetic shops, and beauty parlour businesses are eligible for the loan.

Documents Required For Stree Shakti Scheme

Certain documents are required to be submitted to ensure a smooth application process and quick disbursal. These documents help SBI access the credibility and repayment capabilities of a business. The documents required for the Stree Shakti Scheme are:

• Identity proof: Aadhaar card, Voter ID, PAN card, etc.
• Address proof: Residential certificate, utility bills, electricity bill, etc.
• Company ownership certificate
• Income tax returns of the last 2 financial years.
• Income certificate
• Business plan, along with the profit and loss statement
• Detailed profile of the business
• Copies of lease agreements or property being offered as collateral.
• Passport-size photograph.

Steps To Apply For SBI Stree Shakti Yojana

Applying for the SBI Stree Shakti Yojana scheme is a straightforward process, all you need to do is follow the steps below:

• Step 1: Visit the nearest SBI bank branch.
• Step 2: Get the Stree Shakti Yojana application form.
• Step 3: Enter all the necessary information.
• Step 4: Submit the form along with all the required documents.
• Step 5: Verification and the approval process will begin.