Bank of Baroda Mudra Loan

The Bank of Baroda Mudra Loan is a valuable financing solution aimed at empowering micro and small businesses in India. This loan, available under the Pradhan Mantri Mudra Yojana (PMMY), provides easy access to capital for entrepreneurs looking to grow or expand their ventures. 

With competitive features like no collateral, no processing charges, and flexible repayment options, the Bank of Baroda Mudra Loan is tailored to meet the diverse needs of small enterprises. Whether you're starting a new business or scaling an existing one, this loan offers a hassle-free way to secure the financial support you need.

Here are the key highlights of the Bank of Baroda Mudra Loan:

Here are the interest rates and charges for the Bank of Baroda Mudra Loan, offering clear and competitive pricing for micro and small enterprises:

The Bank of Baroda Mudra Loan interest rates are based on the bank's pricing mechanism for MSME loans and may vary from time to time.

Here are the documents required to apply for the Bank of Baroda Mudra Loan:

• Complete the Mudra Loan application form to initiate the loan processing

• Submit identity proof documents such as Aadhaar, PAN, Driving License, Passport, or Voter ID (for joint loans as well)

• Provide residence proof, including a utility bill, Aadhaar, Voter ID, Passport, or bank statement (for joint loans)

• Include business ID and address proof, such as Udyog Adhar, licenses, or registration certificates

• Attach recent photographs of the applicant(s) as required for the application

• Provide proof of SC/ST/OBC/minority status, if applicable

• Submit proof of loan requirement, such as equipment quotations or vendor details

• Any additional documents requested by the bank based on sanction terms should also be included

The Bank of Baroda Mudra Loan offers flexible repayment tenures to suit the needs of small businesses. For Term/Demand loans, the maximum repayment period is up to 84 months, with a suitable moratorium provided, subject to an annual review. For working capital loans, the repayment period is set at 12 months, also subject to an annual review. These options make the loan more accessible and manageable, ensuring that businesses can repay according to their financial capacity and needs.

Here’s a simple step-by-step guide on how to apply for the Bank of Baroda Mudra Loan:

1. Visit the nearest Bank of Baroda branch or access their online portal to start the application process

2. Complete the Mudra Loan application form accurately with all the necessary details

3. Submit the required identity proof, residence proof, and business documents as per the bank's guidelines

4. Provide any additional documentation that may be requested by the bank, such as proof of loan requirement

5. Once your application is reviewed, the bank will assess your eligibility based on the Bank of Baroda Mudra Loan eligibility criteria

6. After approval, the loan amount will be disbursed to your account, as per the terms of the loan

For any assistance or inquiries regarding the Bank of Baroda Mudra Loan, you can reach out to their customer care team through the following contact details:

• PMJDY and other FI schemes: Toll-free number available from 6:00 AM to 10:00 PM - 1800 102 77 88

• Personal Banking (24X7): Toll-free numbers for domestic customers - 1800 5700 / 1800 5000

• For domestic customers calling from abroad (24X7): +91 79-66296009

• Head Office: General Manager (Principal Nodal Officer), Baroda Bhawan, 7th Floor, R.C. Dutt Road, Vadodara - 390007