Bank of Baroda Mudra Loan

Name: Bank of Baroda Mudra Loan
Brand: Paisabazaar
Rating: 4.2 (829 reviews)

Bank of Baroda offers business loans for up to Rs. 20 lakh (as per Budget announcement and Official Gazette dated 24 October 2024) for a tenure of up to 7 years under the PM MUDRA Yojana (PMMY) scheme. Some of the business loan products offered by Bank of Baroda include term loan, working capital loan, etc. The business loan schemes offered by the lender include Bank of Baroda Digital Mudra Loans, Bank of Baroda Pradhan Mantri Mudra Yojana Loan and Bank of Baroda Weaver Mudra Loan.

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Customer Rating

4.2_/5

829 Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

Paisabazaar Exclusive Benefits

Best Loan Offers

Curated Offers from 20+ Lenders

Unsecured Loan

Term Loan & OD Facilities Available

Expert Advice

Guidance & Assistance

Top Up Facility

Loan to Get Additional Funds

Business Loan EMI Calculator

Amount

₹

₹20 L

₹40 L

₹60 L

₹80 L

₹100 L

Amount

₹20 L

₹40 L

₹60 L

₹80 L

₹1 Cr

₹

50K2Cr

Rate of Interest(Per Annum)

8%30%

Tenure

1Y 10Y

Your Monthly EMI Payment

₹0

Principal Amount₹0

Interest Amount₹0

Total Amount₹0

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max. Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

Axis Bank

Low Processing fee

Max. Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

Kotak Mahindra Bank

Lowest Income requirement100% Digital Process*

Max. Loan Amt.Upto ₹25L

Rate of Interest9.98% - 17.2%

Tenure upto1-5 Years

Processing Fee1.1% - 1.5%

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Highlights

Interest Rates

Fees and Charges

Types of Bank of Baroda Mudra Loans

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How Can I Apply for a Business Loan Online?

Get up to ₹1 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

Bank of Baroda MUDRA Loan Highlights

Interest Rate	For Digital MUDRA Loan 8.40%-10.75% p.a.
Loan Amount	Bank of Baroda MUDRA Loan: Up to Rs. 20 lakh across 4 categories (Shishu, Kishor, Tarun and Tarun Plus) Bank of Baroda Digital MUDRA Loan: Rs 10. lakh in 3 categories (Shishu, Kishor and Tarun) Bank of Baroda Weaver MUDRA Loan: Rs. 5 lakh (inclusive of working capital finance and demand loan)
Loan Tenure	MUDRA Loans: Up to 7 years for term/demand loan and 1 year for working capital loan Digital MUDRA Loans: Up to 5 years for term loans and 1 year for working capital loans

Bank of Baroda MUDRA Loan Interest Rates

Bank of Baroda has not disclosed the interest rate of the MUDRA loan. However, the bank has specified the interest rate for the Digital MUDRA Loan, which starts at 8.40% p.a.

Interest Rates for Digital MUDRA Loan for Micro and Small Enterprises

Loan Amount	Micro Enterprises	Small Enterprises
Up to Rs 50,000	8.4	10.4
Above Rs 50,000 to Rs 2 lakh	10.4	10.6
Above Rs 2 lakh to Rs 10 lakh	10.6	10.75

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Fees and Charges for Bank of Baroda MUDRA Loan

The fees and charges for availing Bank of Baroda MUDRA Loans are mentioned below:

Bank of Baroda MUDRA Loan

Particulars	Charges
Processing fees	Nil
Prepayment charges	Nil

Bank of Baroda Weaver MUDRA Loan

Particulars	Charges
Upfront/processing fees	As per the bank’s policy

Types of Bank of Baroda MUDRA Loans

Bank of Baroda Pradhan Mantri MUDRA Yojana

Purpose:

MSMEs engaged in trading, manufacturing, and the service sector, as well as allied agricultural activities such as horticulture and fisheries, can avail PM MUDRA Yojana loans from Bank of Baroda to expand and modernise.

Maximum Loan Amount:

Shishu: Loans up to Rs. 50,000
Kishore: Loans from Rs. 50,000 to Rs. 5 lakh
Tarun: Loans from Rs. 5 lakh to Rs. 10 lakh
Tarun Plus: Loans from Rs. 10 lakh to Rs. 20 lakh

Note: Tarun Plus is offered to those individuals who have previously availed and successfully repaid loans under the Tarun category.

Loan Tenure:

For term/demand loan: The repayment tenure is up to 7 years with a suitable moratorium, subject to annual review.
For working capital: The loan tenure is 1 year, subject to annual review.

Security:

Hypothecation of assets created by the bank’s finances. The bank does not ask for collateral security.

Insurance/Guarantee:

Bank of Baroda MUDRA loan is covered under the CGTMSE coverage.

Bank of Baroda Digital MUDRA Loan

Purpose:

Bank of Baroda Digital MUDRA Loan is an online loan facility for the MSME units engaged in trading, manufacturing or services sectors. MSMEs can visit the Bank of Baroda website or the BOB World application to avail this loan facility. This facility can be availed to arrange working capital loans or term loans for running business operations. However, business owner(s) cannot use the fund proceeds from this loan facility to fulfill their personal consumption needs.

Repayment Period

Business Loan/Term Loan (subject to annual review): Repayment tenure of up to 5 years
Working Capital: For 1 year from the date of sanction

Maximum Loan Amount:

Shishu MUDRA Loan: Rs. 10,000 to Rs. 50,000
Kishore MUDRA Loan: Above Rs. 50,000 to Rs. 5 lakh
Tarun MUDRA Loan: Above Rs. 5 lakh to Rs. 10 lakh

Margin/Promoter’s contribution:

The margin or promoter’s contribution is decided based on the bank’s policy framework.

Moratorium (for term loan):

Shishu MUDRA Loans: No Moratorium
Kishore MUDRA Loans of up to Rs. 2 lakh: Moratorium up to 3 months
Kishore MUDRA Loans of above Rs. 2 lakh: Moratorium up to 6 months
Tarun MUDRA Loans: Moratorium up to 6 months

Collateral security:

The lender creates the first charge on all the assets of the loan
No collateral security is required

Bank of Baroda Weaver MUDRA Loan

Purpose: Bank of Baroda Weaver MUDRA Loan enables weavers, both in rural and urban areas, to avail working capital/demand loans for meeting their working capital needs along with purchasing looms or for other capex requirements. The beneficiaries of this scheme will get a MUDRA Card with a daily withdrawal limit of Rs. 5,000.
Interest Rate: The interest rate for Bank of Baroda Weaver MUDRA Loan is linked to the MCLR based on the prevailing rate applicable for the MSME segment, although the lender has not disclosed the interest rate range for this business loan scheme.
Maximum Loan Amount: Rs. 5 lakh (inclusive of working capital finance and demand loan)
Margin: 20% of the project cost (working capital expenses and capital expenditure). The margin of up to Rs. 10,000 or 20%, whichever is less, will be provided by the Govt. of India
Limits:
- For demand loan: 80% of the total cost of looms and other capital expenditure
- Working capital limit: Bank finance is 20% of the projected/estimated turnover, less margin
Security: The security for this MUDRA loan scheme includes an exclusive hypothecation charge on both stock and machinery.
Guarantee: This MUDRA loan is covered under the CGTMSE coverage.

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Bank of Baroda MUDRA Loan Eligibility Criteria

The business loan eligibility criteria set for availing Bank of Baroda MUDRA Loans are as follows:

Bank of Baroda MUDRA Loan

The MSMEs eligible for availing this loan facility include non-farm enterprises, business units engaged in allied agricultural activities like horticulture, fisheries, etc., and entities under the MSME segment engaged in manufacturing, trading and services
These enterprises must be engaged in income-generating activities with credit needs of up to Rs. 20 lakh.

Bank of Baroda Digital MUDRA Loan

Individuals, proprietorship, partnership firm, private or public ltd. companies can avail Bank of Baroda Digital MUDRA Loans
The loan applicant should not be a defaulter with any bank or financial institution and must have a satisfactory credit track record for availing this loan facility.
The borrowers may be required to have the relevant skills, knowledge or experience to complete the proposed activity.

Bank of Baroda Weaver MUDRA Loan

Existing/experienced handloom weavers involved in the weaving activity are eligible to avail the Bank of Baroda Weaver MUDRA Loan.

Documents required for Bank of Baroda MUDRA Loan

Bank of Baroda MUDRA Loan

ID proof (any one): Aadhaar, PAN, Driving License, Passport, Voter ID, govt. issued photo ID of all business loan applicants (for joint loans).
Proof of residence (any one): Latest utility bill, Aadhaar, Voter ID, Passports, bank account statement of all business loan applicants (for joint loans).
Documents for business ID and address proof (licenses, registration certificates/deed copy, etc.)
Proof of minority, if any
Latest photographs of loan applicant(s)
Proof of requirement for a loan, like vendor details, equipment quotations, etc.
Duly filled application form for MUDRA loan

Bank of Baroda Digital MUDRA Loan

Bank statement of the last 6 months downloaded from the respective bank’s website/ received from the bank's mail ID, along with details like account number and IFSC Code
Details of business registration (if applicable) and KYC of business and business partner, promoter or proprietor
Details of associate concern(s)
Details of existing loans
PAN, GSTN username (if the business unit is registered with GSTN), Mobile no registered with GSTN and email ID
Udyam registration certificate

How Can I Apply for a Business Loan Online?

Get up to ₹1 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

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What our customers say

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Written By

Sumit Kumar

Reviewed By

Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

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Bank of Baroda Mudra Loan

Business Loan EMI Calculator

Your Monthly EMI Payment

Find Best Business Loan Offers

Quick Links

How Can I Apply for a Business Loan Online?

Bank of Baroda MUDRA Loan Highlights

Bank of Baroda MUDRA Loan Interest Rates

Interest Rates for Digital MUDRA Loan for Micro and Small Enterprises

Fees and Charges for Bank of Baroda MUDRA Loan

Bank of Baroda MUDRA Loan

Bank of Baroda Weaver MUDRA Loan

Types of Bank of Baroda MUDRA Loans

Bank of Baroda Pradhan Mantri MUDRA Yojana

Purpose:

Maximum Loan Amount:

Loan Tenure:

Security:

Insurance/Guarantee:

Bank of Baroda Digital MUDRA Loan

Purpose:

Repayment Period

Maximum Loan Amount:

Margin/Promoter’s contribution:

Moratorium (for term loan):

Collateral security:

Bank of Baroda Weaver MUDRA Loan

Bank of Baroda MUDRA Loan Eligibility Criteria

Bank of Baroda MUDRA Loan

Bank of Baroda Digital MUDRA Loan

Bank of Baroda Weaver MUDRA Loan

Documents required for Bank of Baroda MUDRA Loan

Bank of Baroda MUDRA Loan

Bank of Baroda Digital MUDRA Loan

How Can I Apply for a Business Loan Online?

Business Loan Articles

What our customers say

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