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Bank of Baroda Mudra Loan 2024: अब BOB देगा ग्राहकों को Double Loan, बिना गारंटी और कम इंटरेस्ट रेट पर, यहां करें ऑनलाइन आवेदन


Bank of Baroda Mudra Loan 2024: Bank of Baroda provides business loans to self-employed individuals and business enterprises. The range of business loan products offered by the bank includes term loans, working capital loans, and more. The business loan schemes available in different formats consisting of Bank of Baroda Digital Mudra Loans, Bank of Baroda Pradhan Mantri Mudra Yojana Loan, and Bank of Baroda Weaver Mudra Loan.

The interest rates for Bank of Baroda Mudra Loan schemes are tied to the MCLR (marginal cost of funds-based lending rate). The loan amounts vary depending on the specific scheme, such as loans up to Rs.50,000 for Shishu under Bank of Baroda Pradhan Mantri Mudra Yojana Loan, loans ranging from Rs.50,001 to Rs.5 lakh for Kishore, and loans from Rs.5 lakh to Rs.20 lakh for Tarun. In 2024-25 Budget, Finance minister announced that the amount for Mudra Loan will be doubled. So, Now the Peoples are eligible for 20 Lakh Loan Under Mudra Loan. Now let’s see when this will be implemented. If Bob makes any changes in it then we will inform you through our site.

The Bank of Baroda Digital Mudra Loan offers Rs.20 lakh in three categories (Shishu, Kishore, and Tarun), while Bank of Baroda Weaver Mudra Loan provides Rs.5 lakh, which includes working capital finance and demand loan. The loan tenure for Bank of Baroda Pradhan Mantri Mudra Yojana ranges from 7 years for term/demand loans to 1 year for working capital loans.

Bank of Baroda Mudra Loan 2024: Primary objective

  • The primary objective of Mudra Loans is to promote entrepreneurship, particularly among individuals from marginalized and economically disadvantaged segments of society.
  • These loans are instrumental in generating employment opportunities and ultimately decreasing unemployment rates by offering financial aid to small businesses.
  • Furthermore, by aiding in the development and expansion of small enterprises, Mudra Loans make a substantial contribution to the overall economic progress and prosperity.

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Eligibility criteria for Bank of Baroda Mudra Loan:

  • MSMEs engaged in non-farm enterprises, allied agricultural activities, manufacturing, trading, and services with credit needs of up to Rs 20 lakh are eligible for availing this loan facility.
  • For Bank of Baroda Digital Mudra Loans, individuals, proprietorship, partnership firms, private or public limited companies are eligible.
  • The loan applicant should not be a defaulter with any bank or financial institution and must have a satisfactory credit track record.
  • Handloom weavers involved in weaving activities are eligible for availing the Bank of Baroda Weaver Mudra Loan.

Bank of Baroda Mudra Loan 2024: Documentation

  • Identification proof (choose one): Aadhaar, PAN, Driving License, Passport, Voter ID, government-issued photo ID for all business loan applicants (for joint loans).
  • Proof of address (choose one): Latest utility bill, Aadhaar, Voter ID, Passport, bank account statement for all business loan applicants (for joint loans).
  • Business ID and address proof documents (licenses, registration certificates/deed copy, etc.)
  • Proof of minority status, if applicable
  • Recent photographs of loan applicant(s)
  • Proof of loan requirement such as vendor details, equipment quotations, etc.
  • Correctly filled mudra loan application form.

Bank of Baroda Mudra Loan: Interest Rate and Processing Fee

The interest rates for Bank of Baroda Mudra Loan schemes are determined based on the Marginal Cost of Funds Based Lending Rate (MCLR).

Fees and charges associated with availing Bank of Baroda Mudra Loans are outlined as follows:

  • Bank of Baroda Digital Mudra Loan
  • Bank of Baroda Weaver Mudra Loan
    • Upfront/processing fees: In accordance with the bank’s policy.

Types of Mudra Loan:

The Bank of Baroda provides Mudra loans as part of the Pradhan Mantri MUDRA Yojana (PMMY) to offer support to micro and small enterprises. These loans are divided into three categories based on the stage of the business and the amount of funding required.

  • Shishu category offers loans up to ₹50,000 and is designed for startups and early-stage businesses to provide initial funding for starting operations and meeting initial business needs.
  • Kishor category provides loans ranging from ₹50,001 to ₹5,00,000 and is aimed at businesses looking to grow and in need of additional funds to scale up operations, purchase equipment, or invest in working capital.
  • Tarun category offers loans from ₹5,00,001 to ₹20,00,000 and is intended for established businesses seeking significant capital for expansion, modernization, or other substantial investments.

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How to Apply for a Bank of Baroda Mudra Loan?

Bank of Baroda Mudra Loan Online Application:

  1. Visit the official website of a bank or NBFC that offers Mudra loans.
  2. Download the loan application form from the website.
  3. Complete the application form with the necessary details and attach the relevant documents.
  4. Submit the filled application form online through the bank’s website.
  5. You will receive a reference ID or number for your application.
  6. Keep the reference ID handy as a bank representative will contact you to proceed with the loan process.
  7. Once the bank processes and verifies your application and documents, they will approve and disburse the loan amount to your bank account.

Bank of Baroda Mudra Loan Offline Application:

  1. Go to the nearest bank branch that offers MUDRA loans under the PMMY scheme.
  2. Fill out the loan application form and submit it along with the required documents at the bank counter.
  3. Complete all necessary loan formalities and procedures with the bank.
  4. Once all documents are checked and verified, your loan application will be approved. The loan amount will then be disbursed to your bank account within the specified working days.


  • Hari Krishnan



    Hello Friends I am writing since 2020. I have done MBA in Finance, and worked in one of the top Private Bank. Currently i am fully focusing on writing Finance related information. My aim is to provide correct and useful data to all of you. If You find any mistake or misinformation in my articles then you can contact me.



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