The Bank of Baroda digital Mudra loan scheme offers credit facilities to micro and small enterprises engaged in Manufacturing, Trading and services sectors.
Prerequisites for applying for a Digital Mudra loan through this platform
Before applying for the Mudra loan, the applicant should be ready with the following things;
Its valid mobile number and email ID,
PAN Details, GSTN username (In case registered with GSTN),
Mobile no registered with GSTN,
Latest 6 months Bank statement downloaded from respective bank’s website/ received from banks mail ID/bank detail such as Account no and IFSC Code,
Business registration details (if applicable) KYC of business and business promoter/partner/proprietor,
Associate concern details,
Existing loan details.
Available on platform
bob World Application Baroda Connect, Bank of Baroda Website
Eligible Borrowers
Individuals, Proprietary concern, Partnership Firm, Private Ltd. Company, Public Company are eligible to apply for Mudra Loan.
The applicant should not be a defaulter to any bank or financial institution and should have a satisfactory credit track record.
The individual borrowers may be required to possess the necessary skills/experience/ knowledge to undertake the proposed activity.
Purpose of Assistance/Nature of assistance.
Need-based Term Loan/Working Capital Loan to eligible borrowers.
MUDRA loan is not for consumption/personal needs.
Amount of Assistance
Amount of assistance Upto to Rs 10 lakh in three categories viz. Shishu, Kishore and Tarun.
Margin/Promoters Contribution
Margin/Promoters Contribution is as per the policy framework of the bank.
Security
The first charge on all assets created out of the loan extended to the borrower
No Collateral Security and eligible accounts are covered under CGTMSE.
Interest rates are to be charged as per the policy of the bank.
Upfront fee/Processing charges as per the policy of the bank.
There is no minimum loan amount for Mudra loans.
BOB digital mudra loan customer care
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