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Bank of Baroda Mudra loan is available to micro and small businesses that generate income through engagement in manufacturing, trading and services. Under this scheme, you can obtain a loan amount of up to Rs. 10 Lakhs without providing any collateral. Furthermore, Bank of Baroda offers a fully digital platform for you to apply for this credit option.

Bank of Baroda Mudra Loan Highlights

Indeed, the Mudra loan scheme by the government is an attractive credit option for small and medium business operators. Find the key highlights of Bank of Baroda Mudra loan below:

Maximum loan amount

Rs. 10 Lakhs


Not required

Interest rate

Varies depending on the type of loan


  • Term loan – 84 months
  • Working capital – 12 months

*Note that Bank of Baroda Mudra loan interest rate depends on the type of credit and applicant’s business profile, among other eligibility parameters. 

Bank of Baroda Mudra Loan Features

Mudra loans offered by Bank of Baroda come with various features and benefits for prospective borrowers. Find about them below:

  • No minimum limit

Under the Mudra loan scheme, there is no minimum loan amount that one can borrow. Thus, you may be able to meet your small ticket expenses through this financing. Additionally, you can obtain a high-value loan amount of up to Rs. 10 Lakhs under this scheme.

  • No processing fees

One of the many benefits of obtaining a Bank of Baroda Mudra loan is that you do not have to pay any processing fees. Since the scheme is introduced by the government, the overall borrowing cost remains affordable.

  • No collateral

You can obtain a high-loan value of up to Rs. 10 Lakhs without having to pledge any asset. This will help you reap the benefits of financing while retaining your assets. Further, since there is no collateral involved in the process, the loan approval can take place faster.

  • Interest as per RBI guidelines

Bank of Baroda follows the interest rate as per the marginal cost of lending rate, or MCLR. This rate is fixed by the Reserve Bank of India. Thus, while applying for this credit, you can remain assured of obtaining credit at an affordable interest rate.

  • Quick approval

With Bank of Baroda, you can apply for a Mudra loan digitally by filling out an online application. This allows for quick approval of term loans and working capital loans within 30 minutes. Additionally, you do not have to submit any physical documents, adding to your convenience.

Bank of Baroda Mudra Loan Interest Rates

As mentioned above, the interest rate on Mudra loans is set by the RBI on the MCLR. The prescribed rate of interest tends to be different for different types of Mudra loans. Find more details in the below table:

Type of Mudra loan

Interest rate

Shishu Mudra Yojana

1% - 12%

Kishore Mudra Yojana

8.60% - 11.15%

Tarun Mudra Yojana

11.15% - 20%

*Note that the Mudra loan from Bank of Baroda interest rate mentioned in the above table might change depending on your business profile and credit score. 


*Interest rate on Mudra loans extended by Scheduled Commercial Banks and Regional Rural Banks feature a capping of 3.5% over the refinancing rate. This capping stands at 6% for NBFCs.

Bank of Baroda Mudra Loan Eligibility Criteria

Bank of Baroda offers Mudra loan with easy eligibility parameters to facilitate a quick application procedure. Find details about BOB Mudra loan eligibility below:


  • All types of enterprises engaged in non-farm business activities may apply.

  • The business should fall under the MSME sector.

  • The business should be engaged in generating income through daily activities.

  • Businesses with credit needs of up to Rs. 10 Lakhs may apply.

  • Businesses engaged in allied agricultural activities, such as fisheries and horticulture, can also apply for this credit.


Apart from these, maintaining a healthy credit score is a must to obtain a Bank of Baroda Mudra loan. A good CIBIL score will also allow you to obtain financing at a lower rate of interest.

Documents Required for Bank of Baroda Mudra Loan

Bank of Baroda provides Mudra loan with minimal documentation. Further, with the digital loan facility, you do not need to furnish any physical documents. You can apply for a Bank of Baroda Mudra loan with these documents:


  • Filled in Mudra loan application form

  • Identity proof of the applicant, such as Aadhaar card, Voter ID card or Passport

  • Proof of residence of latest utility bills

  • Business ID and documents pertaining to business address proof

  • Latest photograph of the applicants

  • Minority proof, if any

  • Loan requirement proof, such as vendor details, quotations or more


Note that the documents mentioned above are indicative. The bank may ask you for additional documents if required.

Steps on How to Apply for Bank of Baroda Mudra Loan

You can easily apply online for a BOB Mudra loan. The application process is simple and hassle-free. You just need to follow these steps:


  • Step 1: Visit the official Bank of Baroda website and navigate to the Mudra loan page.
  • Step 2: Click on ‘Apply Now’.
  • Step 3: Fill in the application form with a few basic details, such as your name, contact details, state and more.
  • Step 4: Enter the verification code and submit your application.


Upon following these steps, a bank representative will get in touch with you regarding further steps and document verification.

Bank of Baroda Customer Care

If you have any queries regarding Bank of Baroda Mudra loan, you can consider reaching out to 18002584455 or 18002584455.


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort. 

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for Bank of Baroda Mudra Loan

Can handicapped people also apply for Bank of Baroda Mudra Loan?

Yes, handicapped people can also apply for Bank of Baroda Mudra loan if they meet the eligibility parameters.

Is there any subsidy provided for Bank of Baroda Mudra Loan schemes?

No, as of now, there is no subsidy on Mudra loans. However, if your loan proposal falls under any government scheme that offers capital subsidy, then your Mudra loan will also be eligible for subsidy.

How to calculate Mudra loan EMI on Bank of Baroda?

You can simply use the Bank of Baroda Mudra Loan EMI calculator. This online tool is easily available on the bank’s website and is free to use. To calculate your EMI, you just need to enter your loan amount, the tenure and interest rate. You can utilise this calculator to plan out repayments in a disciplined manner.

How can I check my Bank of Baroda Mudra loan status?

If you apply for a digital Mudra loan from Bank of Baroda, you can check the status of your application by visiting the home page of digital Mudra loan. From there, click on ‘Track Status’ and enter your email ID or mobile number to proceed.

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