Bank of Baroda Mudra Loan Apply: Bank of Baroda Mudra loan facilities are continuously reaching out to their customers who want to get business loans to start their new startup or scale up their business. If you are also one of them and looking for financial help from the authorities then you can read this article where we will share with you information on the Bank of Baroda Mudra loan including the procedure to Bank of Baroda Mudra Loan Apply, mudra loan amount in Bank of Baroda, re payment facilities, Bank of Baroda Mudra Loan eligibility criteria, list of business for Bank of Baroda mudra loan, etc.
Bank of Baroda is one of the nationalized banks in India that is participating in the mudra loan scheme of the Central Government which started in 2015 and it is giving loan amounts to the beneficiaries till yet in 2024. The Bank of Baroda Mudra Loan scheme is divided into 3 categories including the Shishu Mudra loan for 50000, the Kishor Mudra loan for a range of 5 lakh rupees, and the Tarun Mudra loan for a maximum of 10 lakh mudra loan.
All types of mudra loans are available at the Bank of Baroda, and you can easily apply by visiting the branch. But today we will share with you the special feature of the online Bank of Baroda mudra loan where you need not visit the department and can apply for the loan by using a smartphone at any time.
Features of Bank of Baroda Mudra Loan Apply 2024
Bank of Baroda is providing a range of Shishu and Kishore mudra loans under the e-mudra loan scheme through online mode. However, if you apply for up to 200000 rupees mudra loan in Bank of Baroda then you will get Loan instant approval and can use the amount for upscale or business. Beneficiaries will get the opportunity to return the amount in multiple EMIs from 36 months to 72 months according to the loan amount and the Loan eligibility of the customer.
If you are searching for the Bank of Baroda Mudra Loan interest rate, then it will be charged by the bank according to the condition of the customer. But it will not be as high according to other business loan schemes. The government is also suggesting to the banks to give preferences to vulnerable sections such as females, youth, SC-ST, and another backward cast. So, if you belong to anyone reserve category then it will increase your chances of getting mudra loan approval in Bank of Baroda.
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Bank of Baroda Mudra Loan Eligibility criteria
- All Indian citizens are eligible to apply for a mudra loan in the Bank of Baroda however individuals need to have a bank account in the Bank of Baroda.
- Minimum age of the applicants should be at least 21 years old
- The business of the applicants should be registered with government portal.
- Applicant should have proper GST and registration bills
- Any small medium and micro enterprises such as fruit and vegetable vendors, tractor operator, jewellery makers, toy makers, grocery item makers etc can apply for the loan. There is a large list of businesses under the Loan scheme and anyone who have a small business can apply.
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Bank of Baroda Mudra Loan Apply 2024
All the customers of Bank of Baroda are eligible to apply online as well as offline mode where they can directly visit to the branch to fill out the Bank of Baroda Mudra Loan form manually. However, if you are interested to apply for online mudra loan then you can follow the following procedure:
- Open the official website of Bank of Baroda and search the loan section under business loan category.
- You will find mudra loan scheme where you have to click on digital mudra loan scheme so you will reach on the new page.
- Applicants can read terms and conditions and all the features of the BOB loan in this page and click on the applied now link where they have to registered themselves on the government portal of mudra loan.
- Fill the Bank of Baroda Mudra Loan application form through online mode and upload all the important documents.
After that bank will review your BOB Loan application and provide the loan amount in bank account instantly after very fine all the details.