✔️What is the rate of interest on a Bank of Baroda Business Loan?

The Bank of Baroda Business Loan interest rate can range between 7.50% and 13.50%. For special categories of MSME loans, the interest rates are different.

✔️What is the maximum repayment tenure of business loans in the Bank of Baroda?

The repayment tenure for business loans availed by self-employed professionals and self-employed non-professionals has a maximum tenure of 36 months. However, the repayment tenure can range up to 10 years for the special MSME loan schemes.

✔️What is the maximum business loan amount provided by the Bank of Baroda?

As a self-employed professional or the owner of a business entity, you can avail a maximum loan amount of Rs. 10 Crores. But under the special MSME schemes, you can get higher business loan amounts. For example, educational institutes can avail business loans of up to Rs. 200 Crores under the Vidyasthali scheme.

✔️Why take a business loan from the Bank of Baroda?

You can take a BOB Business Loan to fund your multiple business needs, such as meeting working capital requirements, establishing new business units, purchasing the latest machinery and so on.

Bank of Baroda Business Loan

Q: ✔️Is age an eligibility factor to get a loan from the Bank of Baroda?

Yes, you must be at least 21 years old to avail a Bank of Baroda Business Loan. The maximum age, on the date of loan maturity, should not be above 60 years.

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Bank of Baroda is among the most trusted public sector banks in the country, providing various banking and financial services. It offers a wide range of loans, including business loans. MSMEs, self-employed professionals, owners of business entities, corporates, etc., can get a BOB Business Loan.

To suit the business requirements of various customer types, the bank provides several types of business loans, that include:

MSME business loans
Working capital loans
Term business loans
Overdraft loans
Bill discounting loans

Read on to learn more about the crucial aspects of a Bank of Baroda Business Loan.

Bank of Baroda Business Loan Features and Benefits

Loan to suit various business types

BOB Business Loans suit several natures of business from MSMEs to corporates.

Loan for a wide range of purposes

You can use the loan amount for a variety of purposes, like modernising your business establishment.

Loan for different customer categories

Both self-employed professionals and non-professionals can avail this form of credit.

Hassle-free loan application

The Bank of Baroda Business Loan comes with a simple and convenient online application process.

Quick disbursal

You do not need to wait for long to get a BOB business loan to get approval and sanction.

Bank of Baroda Business Loan Eligibility

The Bank of Baroda Business Loan eligibility conditions are quite simple, but they vary across different products. Here’s the basic eligibility criteria you need to meet:

Age

You must be between 21 and 60 years.

CIBIL Score

Have a CIBIL score of 750 or above to enjoy competitive interest rates.

Stability and Profitability of Business

You need to have a profitable business with two years of vintage.

Credit History

Your business should not have a history of credit default with any financial institution.

Documents Required for BOB Loan Application

Here is a look at standard documentation required for availing a Bank of Baroda Business Loan. The required documents may vary across loan products.

Passport-size photographs
Proof of Address: Passport, rental agreement, utility bills, etc
Proof of Business Identity: Certificate of Registration, articles of association, etc
Proof of Income / Revenue: Bank statement of last six months, salary slips

Remember, the requirement for additional documentation is at the discretion of the bank and contingent upon several factors. This includes the business loan product selected, amount required, and the type of business you own.

Bank of Baroda Business Loan EMI Calculator

You can calculate your EMI obligations beforehand by using the simple and convenient online EMI calculator. To use the Bank of Baroda Business Loan EMI calculator you need to provide three variables: the loan amount, applicable interest rate and tenure. You can then view your EMI amount instantly.

How to Apply for a BOB Business Loan

You can apply for a Bank of Baroda Business Loan online in a few simple steps. You are required to:

Visit the Bank of Baroda’s official website for business loans
Select your preferred loan from various types of business loans, such as MSME loans, corporate loans, international banking loans, start-up banking loans, and more
Choose the sub-category of your business loan (For instance, if you select MSME loans, you can see multiple loan offers, like loans and advances, digital MSME working capital loans, digital mudra loans, etc)
Click on ‘Apply Now’
Provide your personal details and complete the registration process by entering an OTP

A bank official or representative will contact you to take the loan application forward. You will need to fill out the online form and upload the requisite documents. Upon successful authentication of your form and approval of your application, the loan amount will be disbursed within a short time.

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Bank of Baroda Business Loan interest rates vary across different products. Visit the bank’s official website to find the latest rates applicable.

Yes, you must be at least 21 years old to apply for a Bank of Baroda Business Loan. The maximum age on the date of loan maturity should not be above 60 years.

Yes. The bank provides companies with working capital to meet operating expenses, either by issuing a letter of credit or via direct funding.