Bank of Baroda, Mudra Loan
Bank of Baroda Mudra Loan
Bank of Baroda Mudra Loan.
Bank of Baroda (BOB) PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of the government of India, changed into released on 8th April 2015 by using the Hon’ble Prime Minister to “fund the unfunded” by bringing such organizations to the formal financial device and increasing inexpensive credit score to them.
Credit facilities
Any form of Fund based or Non-Fund based total facility.
No minimum amount under the mudra bank loan scheme. The maximum amount is – Rs.10.00 Lacs. Under Mudra Bank.
Categorization of Bank of Baroda Mudra Loans
SHISHU: Loans sanctioned below the scheme up to Rs.50000
KISHORE: Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 Lacs
TARUN: Loans sanctioned beneath the scheme from Rs.5,00,001 to Rs.10.00 Lacs
Security Deposit Under Mudra Bank Scheme.
property created out of the bank’s finance.
No collateral security.
Eligibility required with the aid of the Bank of Baroda
All “Nonfarm businesses”
underneath “Microenterprises” and “Small establishments” segments
engaged in “profits producing activities”
engaged in “production, trading and offerings“ and
whose “credit score wishes are up to Rs.10.00 lacs”
Now allied agriculture activities have also been protected underneath the PMMY scheme w.e.f. 01.04.2016.
Price of the financial institution of Baroda for Mudra mortgage.
Limits Micro enterprises Small organizations
as much as Rs.50000/- MCLR+SP (MCLR+SP)+0.50%
Above Rs.50000/- to Rs.2.00 lacs (MCLR+SP)+0.50% (MCLR+SP)+zero.70%
Above Rs.2.00 lacs to Rs.10.00 lacs (MCLR+SP)+0.70% (MCLR+SP)+zero.eighty-five %
Processing charges: Nil
Apart from that Bank of Baroda has started a new scheme which is the PM SVANidhi loan. It is available for all street vendors & it is collateral free now. The Ministry of Urban Development is taking care of that scheme.
If you are interested to get an instant PM SVAnidhi loan, you can apply it online via our website. We will update & guide you about the process, policy and procedures.
This scheme has been launched for street vendors like Chaiwala, Feriwala, Sabji Wala & all kinds of street vendors. Please do not pay anything to get this loan. Its processing fees are nil but the interest rate is around 7%. The tenure of SVAnidhi is 1 year.
If you are facing any issues with the Bank of Baroda Mudra loan or SVAnidhi loan or e-mudra loan, please write back to us. We will forward your grievances to the concerned authorities.
Digital Mudra Loan By BOB – Principle Approval In 30Min
Bank of Baroda digital e₹ app, click here to download.
✔Where can apply for a BOB mudra loan?
You can apply at any branch of Bank of Boroda ie BOB for BOB Mudra Loan which is an MSME Loan.
✔Who can apply for an SME mudra loan?
All citizens of India can apply for all three categories of BOB SME mudra loans.
✔What is the interest rate of the BOB PMMY Mudra loan?
The same rate of interest will apply to the BOB PMMY Mudra loan. Now the interest rate is….. click here
✔ Any guarantee require for a mudra loan?
No BOB Mudra loan is a purely collateral-free loan. Noting is required as a guarantee under the PMMY Mudra scheme.
✔Is there any subsidy in BOB Mudra Loan?
No, there is no subsidy in the BOB mudra loan but if you are applying for a Mudra loan in any other scheme, you will get the subsidy according to the scheme by the state/center govt.
✔ Can we apply Bank of Baroda online e-mudra loan?
Yes, you can apply for an online e-mudra loan from the Bank of Baroda’s official website. Click here to check the procedure.
✔ Is there any charges required for the Bank of Baroda Mudra loan
Yes, there are some processing charges applicable for the BOB mudra loan. Click here for charge details.
