59 Minute SIDBI Loan

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Overview

The 59-minute SIDBI loan is a quick and streamlined loan approval process offered by the Small Industries Development Bank of India.

It is designed to offer expedited loan approvals to small businesses, ensuring quick access to much-needed funds.

The loan amount can range from Rs. 10 lakhs to Rs. 10 crore, and the interest rate is determined by the lending institution.

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Eligibility Criteria

Income Tax Details

Proof of income tax return in XML format is required.
For working capital loans, the latest 1 year’s ITR is mandatory.
For term loans, the last 3 years' ITR is mandatory.

Bank Statements

Latest 6 month bank statement in PDF files

Turnover details

For GST-registered businesses, sales details are automatically fetched from the GST portal using your GSTIN and GST username. For businesses not registered under GST, sales details for the past 12 months must be declared manually.

Types of Loan Available

Business Loan

Business Loan

1. Mudra Loan upto 10 lacs
2. MSME loan upto ₹ 5 cr.

Retail Loan

Retail Loan

1. Home loan upto ₹ 10 cr
2. Personal loan upto ₹ 20 lac
3. Auto loan upto ₹ 1 cr.