FAQs on Commercial Loan - Faq's

• Individuals: Self-employed professionals and proprietors.
• Businesses: Partnership firms, Private limited corporations, public limited companies, and Limited Liability Partnerships (LLPs)

I. Common Documents: 

• Duly filled loan application form
• Proof of Identity: Aadhaar Card / Voter’s ID Card / Passport / Driving License / PAN Card
• Proof of residence: Aadhaar Card / Recent telephone bills, electricity bill, property tax receipt /Passport / voter’s ID Card of Proprietor, Partner / Director (if a company)
• Proof of business Address
• Memorandum and Articles of Association of the Company / Partnership Deed of partnership firms, etc.
• Assets and liabilities statement of promoters and guarantors along with latest income tax returns.

II . Additional documents based on activity undertaken

• SSI / MSME Udyam Registration Certificate / Udyog AADHAAR Memorandum, if applicable.
• Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan.
• Last three years balance sheets of Firm, Company, etc
• Copies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities
• Certificate of incorporation from RoC in case of company (CIN No. and DIN no. of directors)
• Bank Account details wherever applicable (with details of outstanding in case of existing loans / limits)
• Brief Profile of the unit, management, Key persons, Industry etc.
• Details of associates, brief profile of the associates, their banking arrangement & financials of the associates for the last year.
• Copies of Statutory approvals viz. License/ approval from regularity authority, Pollution Control Certificate, GST / VAT registration, etc.
• Documents, licenses etc which are required based on the nature of the business entity such as manufacturing, trading, export-import, IT, service sector, etc.

Our Bank is a member of BCSBI (Banking Code of Conduct and Standards Board of India) and thereby we commit that:

We will provide you with a checklist of the documents to be submitted (compliant with legal and regulatory requirements) along with the loan application form to enable you to submit the application complete in all respects. If required, we will assist you in filling up your loan application form.

Our Bank is a member of BCSBI (Banking Code of Conduct and Standards Board of India) and thereby we commit that:

We shall invariably provide you with an acknowledgement of your loan application, whether submitted online or manually, indicating therein the time frame within which the application will be processed.

Our Bank’s BCSBI code can be accessed through the following link: https://sbi.co.in/documents/136/1364568/BCSBI_CODE.pdf

The timelines for conveying credit decisions have been mandated as per RBI’s Master Direction on Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector vide (Updated as on 11.06.2024). The timeline for loans upto Rs.25.00 L is 14 days and for the loans above aforesaid limit, the timelines are available on the following link: https://bank.sbi/web/personal-banking/information-services/government-business/timelines-for-credit-decisions.

Also, our Bank has initiated many digital solutions like e-mudra, YONO Business application, Invoice financing through YONO application, etc.

Further, our Bank has also entered a tie-up arrangement with Online PSB Loans Limited wherein through the web portal https://www.psbloansin59minutes.com/, a borrower can get Digital Approval in just 59 minutes from anywhere at any time. Post Digital Approval, the time taken for loan disbursement depends on the information and documentation provided by the borrower on the portal and banks. The more accurate the data, the sooner the loan gets disbursed. Generally, post Digital Approval, the loan is expected to be sanction/disbursed in 7-8 working days.

Bank has designed many customized products targeting specific needs of MSME sector. Bank has MSME products SME Credit card, SME Smart Score, SME Open Term Loan, Healthcare Business Loan, SME finance for CA firms, Dall Mill plus etc. The details of the same can be accessed through https://bank.sbi/web/business/sme/sme-loans . Apart from these schemes loans are being sanctioned to MSMEs through Pradhan Mantri Mudra Yojana also the details of which can be accessed through https://bank.sbi/web/business/sme/sme-government-schemes.

Further, Bank has a dedicated policy for financing startups. Bank has designed a loan product, Finance to Startups - MSME Udaan specifically targeted towards startup financing.

Apart from the above, our Bank has also identified specialized branches for financing startups. These branches have been identified at 5 of the major startup hubs of the country like Bengaluru, Hyderabad, Chennai, Gurugram and Mumbai.

Bank has also been proactive in financing emerging areas. In view of unique nature of these businesses, SBI has also formulated dedicated policies for financing such units (for example: Data centers, Smart Meter financing, Lab- Grown Diamonds etc.).

Gender sensitivity and inclusiveness have always been the cornerstone of our Bank’s policies. The representation of women in the total workforce is 27% as on 31.03.2024. Women employees are employed across all geographies at various levels of hierarchy.

Apart from the above, loans between Rs.10.00 lakhs to Rs.1.00 Cr are being sanctioned to women borrowers for setting up Greenfield enterprises as a part of Stand-Up India scheme.

In respect of women beneficiary/ borrower, additional interest rate benefit is given in many products like Surya Shakti Solar Finance, SBI EV Mitra, Finance to Startup etc.

• Collateral Security is not required to avail MSME loan upto Rs.10.00L. Bank extends collateral free loan upto a limit of Rs.500 lakhs by availing credit guarantee for CGTSME under CGS-I in eligible cases, if found viable.

• Our Bank has a customer grievance redressal Policy covering all the branches and offices in India. In case of undue delay or arbitrary rejection of the loan a complaint can be registered through the same. The Principal Nodal Officer at SBI, Corporate Centre, Mumbai for customer grievances redressal is the General Manager (Customer Service), Customer Service Department. The Principal Nodal Officer is responsible for implementation and monitoring of customer grievances redressal in the entire Bank.
• If case of non-redressal, complaint can be escalated to Internal Ombudsman
• Complaint can also be lodged with RBI Ombudsman.

Our Bank has adopted Sustainability as one of the core values and has been consciously striving to factor ESG considerations into multiple aspects viz operations, investments, risk assessment and strategy. Bank believes that economic performance and profitability can be augmented through responsible business conduct and thus endeavours to strike the right balance to create shared value for all its stakeholders. Considering the significance, Bank has setup the ESG & Climate Finance Unit headed by a Chief General Manager.

Bank has been publishing annual Sustainability Report on Global Reporting Initiative (GRI) standards since FY 2015-16 and the same can be accessed through following link: https://bank.sbi/web/sbi-green/esg/sustainability.