Learn about the SBI Stree Shakti Yojana, a government initiative to empower women entrepreneurs in India. Discover eligibility criteria, loan amounts, interest rates, and the application process.
To make the women of the country self-reliant and empowered, the government keeps bringing schemes from time to time. To make women self-reliant and empowered, India’s largest bank, State Bank of India, has launched a scheme in collaboration with the Government of India, which we know as Stree Shakti Yojana. Under this scheme, women who want to start their own business are given loans at very low interest. Women can use this loan to start their business.
This scheme has been started so that women do not face any kind of problem in starting employment. If you are also a woman and want to take advantage of the Stree Shakti Yojana run by State Bank of India, then read this article completely. Here you are being given all kinds of information about this scheme in detail.
What is SBI Stree Shakti Yojana?
State Bank of India has started this scheme with the Central Government, under which work will be done to make women self-reliant and empowered. Through this scheme, any woman who wants to do her own business or employment can get a loan of up to Rs 25 lakh at a very low interest rate through the bank. You have to pay very little interest on this loan.
Under this scheme, women are given loans for any business only when they have a 50% or more partnership in that business. Under this scheme, if a business loan of up to ₹ 500000 is taken, then women do not need to give any kind of collateral or guarantee. If a loan of Rs 5 lakh to Rs 25 lakh is taken, then women have to give a guarantee here.
Key Features of SBI Stree Shakti Yojana
- Loan Amount: Women entrepreneurs can avail loans ranging from Rs. 50,000 to Rs. 25 lakhs under this scheme.
- Interest Rates: The interest rates offered on these loans are competitive and lower than regular business loans.
- Collateral Security: For loans up to Rs. 5 lakhs, collateral security is not required.
- Simplified Documentation: The loan application process is streamlined with minimal documentation requirements.
- Flexible Repayment Terms: The repayment tenure is flexible, allowing borrowers to choose a repayment plan that suits their needs.
Objectives of SBI Stree Shakti Yojana
The main objective of starting this scheme is to make the women of the country self-reliant and empowered so that they can move forward in the field of business and trade. For this, SBI Bank gives loans up to Rs 25 lakh to women at a very low interest rate so that women become self-reliant and start their own business. When women try to make their dreams come true, the bank will also help them, this will improve the economic and social status of women in the society.
Benefits and Features of SBI Stree Shakti Yojana
- State Bank of India is providing loan facility to the women of the country to start a business.
- Under this scheme, any woman can start her own business by getting a loan at a very low interest rate.
- Under this scheme being started by State Bank of India, a loan of up to Rs 25 lakh is given.
- Different interest rates are charged according to different categories and different businesses.
- If any woman takes a business loan of more than ₹ 200000, then she has to pay 0.5% less interest.
- No guarantee of any kind is required for a loan up to ₹ 500000.
- Under this scheme, you can take a loan from ₹ 50000 to 25 lakh rupees.
Through this scheme, women doing small industries in rural areas can start small businesses under SBI Stree Shakti Yojana
- Business of farming products
- 14C soap and detergent business
- Dairy business
- Clothes manufacturing business
- Papad making business
- Sale of fertilizers
- Cottage industry
- Cosmetic items
- Beauty parlor business
Eligibility of SBI Stree Shakti Yojana
- A woman who is a permanent resident of India can apply for this scheme.
- The minimum age of the woman applying must be 18 years.
- Under this scheme, only those women are eligible whose partnership in the business is 50% or more.
- Women already doing business on a small scale are eligible for this scheme.
Required documents of SBI Stree Shakti Yojana
- Aadhaar card of the applicant
- Residence certificate
- Identity card
- Company ownership certificate
- Application form
- Bank statement
- ITR of last 2 years
- Income certificate
- Mobile number
- Passport size photo
- Business plan profit and loss statement
How to apply for SBI Stree Shakti Yojana?
- If you are also a woman who wants to expand her business, then you can apply under Stree Shakti Yojana. For this, follow the process given below.
- To apply, first of all you have to visit the nearest branch of State Bank of India.
- Here you have to go and tell that you want to apply under SBI Stree Shakti Yojana.
- The bank employees will give you information about this business loan and will ask you some information.
- After that, you will be given an application form to apply under this scheme.
- Many types of information will be asked from you in this.
- You have to enter all the information carefully and paste the passport size photo at the right place and sign.
- You have to submit this application form to the bank along with all the necessary documents.
- The bank checks your application form within a few days and after verifying it approves your loan amount.
- In this way, you can take advantage of it by applying under State Bank of India Stree Shakti Yojana.
- You will get a chance to make your business bigger
Frequently Asked Questions (FAQs)
Q1. What is the maximum loan amount available under the Stree Shakti Yojana?
A1. The maximum loan amount available under the Stree Shakti Yojana is Rs. 25 lakhs.
Q2. Is collateral security required for all loan amounts?
A2. No, collateral security is not required for loans up to Rs. 5 lakhs.
Q3. What types of businesses are eligible for this scheme?
A3. The scheme is open to a wide range of businesses, including manufacturing, trading, services, and agriculture-based businesses.
Q4. What documents are required for the loan application?
A4. The required documents include identity proof, address proof, income proof, business plan, financial statements, and other relevant documents.
Q5. How long does it take to process the loan application?
A5. The loan application process usually takes 7-10 working days.
Conclusion
The SBI Stree Shakti Yojana is a commendable initiative that empowers women entrepreneurs by providing them with access to affordable credit. By reducing financial barriers, this scheme enables women to realize their entrepreneurial dreams and contribute to the economic growth of the country.
If you are a woman entrepreneur looking for financial assistance, the Stree Shakti Yojana can be a valuable tool to help you achieve your goals.
Read More: Asangathit Karmakar Gambhir Bimari Chikitsa Sahayata Yojana