Compare & Choose from the Best Business Loan Offers 
Please Note: Bank of Baroda is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Bank of Baroda (BOB) is a public sector bank that offers business loans, working capital loans, digital Mudra loans and a range of MSME loans to business owners, self-employed professionals, MSMEs, large corporates, and several other business entities. MSME loan interest rates offered by Bank of Baroda vary from borrower to borrower. Further discussed are various types of MSME loan schemes offered by the Bank of Baroda with related details.
Bank of Baroda – MSME Loan – September 2022
a) Composite Loan
| Composite Loan – Highlights | |
| Purpose | Fixed capital investment and/or working capital requirements |
| Interest Rate | Linked with Repo Rate/MCLR |
| Loan Amount | Up to Rs. 1 crore |
| Repayment Tenure | From 3 years to 10 years, moratorium 12 months to 18 months |
| Collateral/Security | Not required |
|
Margin | · Nil in case of composite loan up to Rs. 25,000 · 15% – 25% in case of composite loans above Rs. 25,000 and up to Rs. 100 lakhs |
Appy for Business Loan starting @ 16% p.a. Apply Now
b) Digital MSME Loan
| Digital MSME Loan – Highlights | |
| Purpose | Working capital fund-based facilities |
| Interest Rate & Charges | As per Bank’s policy |
| Loan Amount | Rs. 10 lakh – Rs. 5 crore |
| Security | · First charge on all assets created out of the loan extended to the borrower; or · As mutually agreed by the Bank and the Borrower |
Eligible Entities for Digital MSME Loan
- Micro Enterprise: Investment in Plant and Machinery or Equipment shall not exceed Rs. 1 crore and Turnover shall not exceed Rs. 5 crore
- Small Enterprise: Investment in Plant and Machinery or Equipment should not exceed Rs. 10 crore & Turnover should not exceed Rs. 50 crore
- Medium Enterprise: Investment in Plant and Machinery or Equipment shall not exceed Rs. 50 crore & Turnover shall not exceed Rs. 250 crore
Eligibility Criteria
- Manufacturing Enterprises should be engaged in the manufacture or production, processing or preservations of goods with investment in Plant & Machinery and turnover
- Service Enterprises should be engaged in providing or rendering services and whose investment in equipment and turnover as specified above
c) Baroda Energy Efficiency Project (BEEP) Finance
| Baroda Energy Efficiency Project (BEEP) Finance – Highlights | |
| Eligible Entities | ESCO or Host entity falling under Micro & Small category |
| Interest Rate | As applicable for MSE Borrowers |
| Loan per Project | Rs. 10 lakh – Rs. 15 crore |
| Repayment Tenure | Up to 5 years, including Moratorium |
| SIDBI Guarantee | Up to 75% of the loan amount |
| Minimum Collateral | 25% of the loan amount |
Note: Guarantee Fee is slab-wise and based on grading of ESCO and payable by the borrower.
Note: With effect from 12th August 2022, Bank’s 1-year MCLR stands at 7.70%
Note: With effect from 6th August 2022, Retail Loans applicable BRLLR is 7.95% (Current RBI Repo Rate: 5.40% + MarkUp/Base Spread 2.55%).
Best SME/MSME Loan offers are just a click away Apply Now
Additional MSME Loan Schemes – September 2022
- Baroda Arogyadham Loan
- Baroda Energy Efficiency Project (BEEP) Finance
- Baroda Loan for Restaurants
- Baroda Loan to Business Correspondents
- Baroda SME Loan Pack
- Baroda Vidyasthali Loan
- Bill/Invoice Discounting under Value Chain Finance
- BOB MSME Loan
- BOB Weaver Mudra Scheme
- Commercial Vehicle Finance
- Credit Guarantee Scheme for Subordinate Debt (CGSSD)
- Credit Link Capital Subsidy Scheme (CLCSS)
- Dealers/Traders – Agriculture Inputs
- Digital Mudra Loan
- Loan for Construction and Mining Equipment
- MSME Capex Loan
- MSME Loans under PMEGP
- MSME Textile Scheme
- MUDRA Loan under PMMY
- NHFDC Refinance
- PM SVANidhi Scheme
- Pre-Sanctioned CME Loan Limits for Strategic Segment
- PSB Loans in 59 minutes
- Scheme for Financing Textile Units
- Scheme for Professionals
- SME Medium Term Loan
- SME Short Term Loan
- Standup India Scheme (SUI)
- Technology and Quality Upgradation (TEQUP) Scheme
- Technology Upgradation Fund Scheme (TUFS)
- Term Finance
- Vendor Bill Discounting for large Real Estate Developers
- Working Capital Finance
Note: With effect from 6th August 2022, Retail Loans applicable BRLLR is 7.95% (Current RBI Repo Rate: 5.40% + MarkUp/Base Spread 2.55%). With effect from 12th Sep 2022, Bank’s 1 year MCLR will be 7.80%.
Also Know: Documents required & How to apply for MSME loan Scheme online
Best Working Capital Loan offers from leading Banks/NBFCs Apply Now
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs
| Bank/NBFCs | Interest Rate | |
| HDFC Bank | 10.00% – 22.50% p.a. | Apply Now |
| FlexiLoans | 1% per month onwards | Apply Now |
| ZipLoan | 1% – 1.5% per month (Flat ROI) | |
| Axis Bank | 14.25% – 18.50% p.a. | Apply Now |
| IDFC First Bank | 14.50% onwards | |
| Kotak Mahindra Bank | 16% – 19.99% | Apply Now |
| Fullerton Finance | 17% – 21% | |
| Bajaj Finserv | 17% p.a. onwards | Apply Now |
| RBL Bank | 17.50% – 25% p.a. | Apply Now |
| ICICI Bank | 17% onwards | |
| Indifi Finance | 1.5% per month onwards | Apply Now |
| Lendingkart Finance | 1.5% – 2% per month | Apply Now |
| Tata Capital Finance | 19% p.a. onwards | Apply Now |
| NeoGrowth Finance | 19% – 24% p.a. | Apply Now |
| Hero FinCorp | Up to 26% p.a. | Apply Now |
Note: Business loan interest rates are updated as on September 2022.
Basic Eligibility Criteria for MSME Loan Schemes
Below mentioned is the eligibility criteria to apply for business/MSME loan from BOB:
- Minimum age of the applicant should be 18 years and maximum up to 65 years
- Business stability and good repayment history
- Applicant with good credit score (750 or above)
- Applicant who has not defaulted in past with any financial institution
Must Read: How to get Small Business Loans – Check Eligibility, Interest Rates & Top Providers
Documents Required for Loan Application
- Duly filled application form with passport-sized photographs
- Identity proof- Aadhaar card, PAN card, voter’s ID, passport
- Address proof- Aadhaar card, PAN card, passport, bank statement, agreement of rent, etc.
- Business address proof
- Business PAN card
- Copy of partnership deed, registration certificate by RBI, SEBI, etc.
- Copy of last 2 years income tax returns
- Last 6 months bank statement
- Business establishment proofs
- Any other document required by Bank of Baroda
Depending on your business loan type and credit profile, you might be required to submit additional documents.
Components of Business Loan Application Form
The Bank of Baroda business loan application form requires the following details:
- Applicant’s name
- Workplace address
- Loan amount
- Residential address of the proprietor
- Date of business commencement
- Contact details
- Business nature
- Proprietors details and address
- Banking details
- Security/collateral details
- Details of working capital to be invested
Best Startup Loan offers are just a click away Apply Now
Steps to Check BOB Business Loan Application Status Online
To check the loan application status from the Bank of Baroda, you can follow these simple steps:
Step 1: Enter your ‘Proposal Acknowledgement ID’ that you received after form submission
Step 2: Enter the captcha text below
Step 3: Click on ‘Track Application’ to check the status of your loan application
Also Check: Which bank/NBFC gives a business loan for the lowest interest rates?