Bank of Baroda Business Loan

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, and a range of MSME loans to business owners, self-employed professionals, MSMEs, large corporates, and several other business entities. Further discussed are various types of MSME loan schemes offered by the Bank of Baroda with related details.

Bank of Baroda – MSME Loan Schemes – 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
• Composite Loan
• Credit Guarantee Scheme for Subordinate Debt (CGSSD)
• Credit Link Capital Subsidy Scheme (CLCSS)
• Dealers/Traders – Agriculture Inputs
• 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

Also Know: Documents required & How to apply for MSME loan Scheme online

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Comparison of Business Loan offered by Bank of Baroda vs other Banks/NBFCs

Basic Eligibility Criteria

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

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Steps to Check BOB Business Loan Application Status Online

To check the loan application status from 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?

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Customer Care Numbers

Toll-Free Number: 1800 180 MSME or 1800 180 6763

FAQs

Q. What is the rate of interest on a Bank of Baroda business loan?
Ans. The business loan interest rate offered by the Bank of Baroda varies from applicant to applicant and shall differ from scheme to scheme. Interest rates are majorly linked to BLLR and MCLR as defined by the bank.

Q. What is the maximum repayment tenure of business loans in the Bank of Baroda?
Ans. The maximum repayment tenure offered by the Bank of Baroda is up to 10 years.

Q. How much business loan amount can I avail myself from the Bank of Baroda?
Ans. The maximum loan amount that can be availed is up to Rs. 2 crore under ”Loan Against Rent Receivables” offered by the Bank of Baroda.

Business Loan Latest News

Bank of Baroda in partnership with U GRO Capital to disburse Rs. 1000 crore loan to MSMEs

26^th July 2021: Under this co-lending program, Micro Small and Medium Enterprises (MSMEs) can now avail business loans worth of Rs. 1000 crore that shall be disbursed by Bank of Baroda in partnership with U GRO Capital. As per RBI’s revised co-lending regulation, 80% of the loan amount shall be disbursed by BOB and the rest by the NBFC partner. The loan can be availed by MSMEs operating at U GRO’s over 200 channels around 9 locations in cities that include Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Jaipur, Ahmedabad, Pune and Bengaluru. Below are the loan details offered for MSMEs:

Features of MSME Loan under co-lending program