Bank of Baroda e-Mudra loan is likely a reference to a loan offered by the Indian government through its Micro Units Development and Refinance Agency (MUDRA) program. The program aims to provide financial assistance to micro and small enterprises, including non-corporate, non-farm small/micro enterprise units. The loan is provided through participating banks and other financial institutions, and can be used for a variety of purposes, such as purchasing equipment, raw materials, and working capital. The loan can also be availed through digital platform, which is probably why it is referred as "Bob e-Mudra loan".
Bank of Baroda E-mudra Loan
Bank Of Baroda E-Mudra Loan – Overview
| Name of the Bank | Bank of Baroda |
| Name of the Scheme | E Mudra Scheme |
| Name of the Article | Bank Of Baroda E Mudra Loan |
| Type of Article | Latest Update |
| Mode of Application | Online |
| Official Website | Click Here |
Eligibility criteria: Bank of Baroda e-Mudra loan
-The business should be non-corporate, non-farm small/micro enterprise units.
-The unit should have a GST registration
-The unit should not be in default of any government loans
-The unit should have a credit score of 650 or above
Loan Amount: Bank of Baroda e-Mudra loan
-The loan amount can vary depending on the type of enterprise and the purpose of the loan.
-Under the scheme, there are three categories of loans:
-Shishu: Loans up to 50,000
-Kishor: Loans between 50,000 and 5 lakh
-Tarun: Loans between 5 lakh and 10 lakh
Interest rate: Bank of Baroda e-Mudra loan
-Interest rate will vary from bank to bank and on the type of loan.
Repayment: Bank of Baroda e-Mudra loan
-The repayment period for the loan can range from 5 years to 10 years, depending on the type of loan and the purpose for which it is taken.
Documents required: Bank of Baroda e-Mudra loan
-Business registration certificate
-ITR and GST returns of the last 2 years
-Bank statement of the last 6 months
-Proof of residence and identity of the borrower
How to Apply For E Mudra Loan Bank Of Baroda?
All those readers and youth who have a bank account with Bank of Baroda will have to follow these steps to get loan under E Mudra Yojana , which are as follows –
- To apply online for E Mudra Loan Bank Of Baroda , first you have to visit the home page of its official website,
- Now after coming to this page, you have to click on the option of Proceed,
- After clicking on the option, a page like this will open in front of you –
- Now you have to enter your mobile number linked to the bank account here.
- After this you will get OT on the mobile number . You will get P which you have to type and click on the option of Sumbit,
- After clicking, a new page will open in front of you,
- Now after coming to this page, you will be told that how many rupees loan you can get,
- Also, here you have to select the amount for which you want to take a loan and click on the proceed option,
- After clicking, a new page will open in front of you,
- After coming here, you have to fill the application form carefully step by step .
- All the required documents will have to be scanned and uploaded and click on the proceed option.
- After clicking, its preview will open in front of you, in which you will have to check all the information entered carefully.
- After this, as soon as you have to click on the submit option, after which you will get the message of depositing money on the registered mobile number
- Lastly, now you have to click on the submit option after which you will get the receipt which you have to print and keep safe etc.
After following all the above steps, all of you beneficiaries can easily get loan under E Mudra Yojana under Bank of Baroda and get its benefits.
FAQs :- Bank of Baroda e-Mudra loan
Here are some frequently asked questions about the MUDRA loan offered by Bank of Baroda:
Q: What is the interest rate for a MUDRA loan from Bank of Baroda?
A: The interest rate for a MUDRA loan from Bank of Baroda will vary depending on various factors such as loan amount, type of loan, and the purpose of the loan. It's best to check with the bank for the current interest rate.
Q: What is the maximum loan amount that can be availed under the MUDRA scheme?
A: The maximum loan amount that can be availed under the MUDRA scheme is Rs. 10 lakh.
Q: How long is the repayment period for a MUDRA loan from Bank of Baroda?
A: The repayment period for a MUDRA loan from Bank of Baroda can range from 5 years to 10 years, depending on the type of loan and the purpose for which it is taken.
Q: How can I check the status of my MUDRA loan application?
A: You can check the status of your MUDRA loan application by visiting the official website of Bank of Baroda or by contacting the bank directly.
Q: Are there any collateral or security requirements for a MUDRA loan?
A: The collateral and security requirements for a MUDRA loan can vary depending on the loan amount and the bank's policy. It's best to check with the bank for the specific requirements.
Q: Can I prepay my MUDRA loan?
A: Yes, you can prepay your MUDRA loan, but it's best to check with the bank for the specific terms and conditions regarding prepayment.