SBI Stree Shakti Yojana is aimed at helping women entrepreneurs start a new business or expand an existing one.
The scheme provides business financing for eligible women working in manufacturing, trading and service sectors.
Depending on the business requirement and the bank’s assessment, loans can be provided for working capital as well as long-term business needs. Eligible borrowers may also receive an interest-rate concession.
SBI Stree Shakti Yojana Loan Amount
Under the scheme, women entrepreneurs can seek business loans based on their requirements and financial position.
According to the information provided, the loan amount can go up to ₹25 crore, subject to SBI’s assessment and applicable conditions.
The financing can be used as working capital to meet day-to-day business expenses or as a term loan for purposes such as purchasing machinery and other long-term business assets.
The amount sanctioned is not automatically ₹25 crore for every applicant. SBI evaluates factors such as eligibility, business requirements, project viability and financial position before deciding the final loan amount.
For loans above ₹2 crore, the applicable interest rate may also be linked to the borrower’s credit rating.
Interest Rate Concession for Women
One of the key benefits mentioned under the initiative is an interest-rate concession for eligible women entrepreneurs.
For eligible loans of up to ₹2 crore, women may receive an interest-rate concession of up to 0.50%, or 50 basis points.
The final rate of interest can vary according to SBI’s prevailing lending rules, borrower profile and other applicable conditions. Applicants should therefore confirm the latest interest rate and charges with the bank before taking a loan.
Annapurna and Shringar Schemes for Women
SBI also has specialised financing options aimed at women operating businesses in specific sectors.
The Annapurna scheme is designed for eligible new and existing businesses related to catering, restaurants, tiffin services and food products.
The Shringar scheme is aimed at women entrepreneurs operating beauty parlours, salons and businesses in the wellness sector.
Financing can be used for requirements such as purchasing equipment or improving business infrastructure.
These options are intended to provide financing based on the requirements of different types of women-led businesses.
Repayment and Documents Required
Under the SBI Stree Shakti Yojana, repayment conditions can vary depending on the type and size of the loan. According to the information provided, the repayment period for a term loan can range from seven to 10 years.
The bank may also require the borrower to contribute margin money. Depending on the loan, the margin requirement can range from 15% to 25%.
Women planning to apply should keep important documents ready, including KYC documents, financial records and a detailed business project report.
Applicants should also check the applicable processing fee, interest rate, margin requirement, repayment period and other charges directly with SBI before submitting their application.
The final approval, loan amount and terms will depend on the bank’s assessment of the applicant and business proposal.
