SBI Stree Shakti Yojana: To empower and make women self-reliant, the government, in collaboration with the State Bank of India, has launched the Stree Shakti Yojana. This scheme offers women low-interest loans to start their own businesses. Women can use these loans to establish and grow their businesses.
SBI Stree Shakti Yojana was started to help women start their own businesses without facing any difficulties. If you are a woman and want to benefit from this scheme by the State Bank of India, read this article fully. Here, you will find detailed information about this scheme.
What is SBI Stree Shakti Yojana?
The State Bank of India, in partnership with the central government, has launched a scheme to empower and make women self-reliant. Through this scheme, any woman who wants to start her own business can get a loan of up to 25 lakh rupees from the bank at a very low interest rate. Read this CM Kanya Sumangala Yojana – Features, Benefits, Eligibilty 2024
To qualify for a loan under this scheme, women must have at least 50% ownership in the business. For business loans up to ₹500,000, no collateral or guarantee is required. For loans between 5 lakh and 25 lakh rupees, women will need to provide a guarantee.
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Purpose of SBI Stree Shakti Yojana
The main goal of this scheme is to make women in the country self-reliant and empowered so they can progress in business and trade. For this purpose, SBI Bank offers loans up to 25 lakh rupees at very low interest rates, helping women start their own businesses. When women strive to achieve their dreams, the bank will support them, improving their economic and social status in society.
Benefits and Features of SBI Stree Shakti Yojana
BI provides loans to women for starting their own businesses. Here’s a breakdown of the scheme:
- Women can get loans at very low-interest rates to start their businesses.
- The scheme offers loans up to 25 lakh rupees.
- Interest rates vary based on different categories and types of businesses.
- Women taking business loans above 2 lakh rupees get a 0.5% reduction in interest rate.
- No collateral is needed for loans up to 5 lakh rupees.
- Loans can range from 50,000 to 25 lakh rupees.
- This scheme helps women in rural areas to expand their small businesses.
Businesses Covered Under SBI Stree Shakti Yojana
- Trade of agricultural products
- Soap and detergent business
- Dairy business
- Garment manufacturing
- Papad making business
- Fertilizer sales
- Cottage industries
- Cosmetic items
- Beauty parlor business
Eligibility for SBI Stree Shakti Yojana
- Applicant must be a permanent resident of India.
- The minimum age for applicants is 18 years.
- The woman must have at least 50% ownership in the business.
- Women already running a small-scale business are eligible.
Required Documents for SBI Stree Shakti Yojana
- Aadhaar card
- Residence proof
- Identity proof
- Proof of company ownership
- Application form
- Bank statement
- IT returns of the last 2 years
- Income certificate
- Mobile number
- Passport size photo
- Business plan and profit-loss statement
How to Apply
- Visit the nearest State Bank of India branch.
- Inform the bank staff that you want to apply for the SBI Stree Shakti Yojana.
- Bank employees will provide details about the business loan and ask for some information.
- Fill out the application form provided by the bank.
- Enter all the required information carefully, attach your passport-size photo, and sign the form.
- Submit the completed application form along with all necessary documents to the bank.
- The bank will review and verify your application, and if approved, your loan amount will be sanctioned.
By following these steps, you can apply for the SBI Stree Shakti Yojana and take advantage of its benefits to grow your business.