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The SBI Stree Shakti Loan scheme is a special initiative aimed at empowering women entrepreneurs. This scheme provides financial support of up to ₹24 lakh to help women start or expand their businesses.

Key Features of the SBI Stree Shakti Loan

1. Loan Amount: Up to ₹24 lakh.
2. Interest Rate Benefits: Women entrepreneurs receive a concession on interest rates, with an additional 0.5% discount on loans up to ₹2 lakh.
3. Collateral: No collateral is required for loans up to ₹10 lakh.
4. Repayment Tenure: Flexible repayment options with easy installments.
5. Processing Fees: Minimal or zero processing charges.

Eligibility

• Target Group: Women looking to start or expand their business.
• Ownership: The business must have at least 51% ownership by women.

Application Process

1. Submit an Application: Visit the nearest SBI branch and fill out the Stree Shakti Loan application form.
2. Provide Necessary Documents:
   • Aadhaar and PAN card.
   • Business details (project report).
   • Income proof.
3. Verification: The bank will review your application and documents.
4. Loan Approval and Disbursement: Upon approval, the loan amount will be transferred to your account.

Required Documents

• Proof of identity and address.
• Business-related documents.
• Recent bank statements.
• Passport-sized photographs.

Highlights

This initiative by SBI and the Government of India is part of a broader effort to make women financially independent. Whether you’re starting a new business or expanding an existing one, the Stree Shakti Loan Scheme provides financial aid with reduced interest rates, no collateral for small loans, and simplified repayment terms.

For more details, visit the official SBI website or your nearest SBI branch.