Bank of Baroda Mudra Loan 2025: You must have heard many times that if you need capital to run your business, then thinking about taking a loan from a bank can be the best option. Now, it is not as easy as it sounds, but Bank of Baroda Mudra Loan can be the best way for you. If you need money for your small or medium business, then Bank of Baroda can be the right choice for you. And the best part is that there is no need to go through any major documentation process to avail it.
The aim of Bank of Baroda Mudra Loan is to provide loans without any guarantee to small and medium businesses, so that they can grow their business and realize their dreams. To avail Bank of Baroda Mudra Loan, you do not have to mortgage any type of property, and the process of this Bank of Baroda Mudra Loan is also very simple.
Let us now understand in a little more detail how Bank of Baroda Mudra Loan can be helpful for you. Under this scheme, you get the opportunity to get loans in three different categories: Shishu, Kishor, and Tarun. Now, you decide which loan will be best suited for your business.
Bank of Baroda Mudra Loan 2025 highlights
| Information | Details |
| Maximum Loan Amount | ₹10 Lakh (Up to ₹20 Lakh from Budget 2024) |
| Interest Rate | Depends on business profile and credit score |
| Loan Tenure | Up to 5 years |
| Collateral | Not Required |
| Categories of Loan | Shishu, Kishor, Tarun |
| Eligibility | MSME Enterprises, Non-farm Income Generating |
| Loan Application Process | Online form submission and verification at nearest branch |
| Required Documents | Identity Proof, Residence Proof, Business Certificates, etc. |
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BOB Mudra Loan 2025 Types
Bank of Baroda Mudra Loan is divided into three major categories, which are suitable for different types of businesses. These categories are Shishu, Kishor, and Tarun, and each of these has its own distinct purpose and benefits. Now, let us find out more about these categories, so that you do not have any difficulty in selecting your loan.
BOB Shishu Scheme
If you are thinking of starting your business and you need initial capital, then Shishu Scheme will be the best fit for you.
Under this scheme, you can get a loan of up to ₹50,000 only, which can be sufficient for a small business.
This scheme is especially for those small businessmen who need initial capital for their company.
Under this scheme, you also have the advantage of getting a loan at the lowest interest rate, which will not affect your earnings significantly.
BOB Kishor Yojana
Now, suppose your business has started and you want to take it forward, then Kishor Yojana will be best for you.
Under this scheme, you can get a loan ranging from ₹ 50,000 to ₹ 5 lakh, which will be enough to take your business to a new level.
If you already have a small shop or service and you want to expand it, then this scheme can prove to be effective for you.
BOB Tarun Yojana
If your business is running well and you want to expand it on a large scale, then Tarun Yojana will be the best option for you.
Under this scheme, you can get a loan of ₹5 lakh to ₹10 lakh. And, as per Budget 2024, this amount has been increased to ₹20 lakh, so that you can also get a loan for your big projects.
You can use this loan to buy new machinery, hire more staff, or expand your business. Under this scheme, you also get a good interest rate, which does not affect the profit of your business.
Mudra Loan Interest Rate and Other Terms
Now let’s talk about the most important thing that every loan taker should know first – the interest rate. The interest rate of Bank of Baroda Mudra Loan depends on your business profile, CIBIL score, and the type of your business. This means that the interest rate may vary for different individuals, and it is clarified by the loan officer only after the application process.
You will be happy to know that you do not have to mortgage any type of property on Bank of Baroda Mudra Loan. This means that even if you do not have any property, you can still avail this loan.
Eligibility for BOB Mudra Loan 2025
Before taking any type of loan, it is important to ensure whether you are eligible or not. Following are the eligibility conditions for Bank of Baroda Mudra Loan:
- You should fall under Micro, Small and Medium Enterprises (MSME).
- You can be the owner of any non-farm income generating enterprise.
- Your business should be in the manufacturing, trading or service provider sector.
- Your business should fall in the capital category up to ₹10 lakh.
- If you are in any agriculture related activity, you can still apply for a Mudra loan.
Documents to Apply for BOB Mudra Loan
Some important documents are required to apply for Bank of Baroda Mudra Loan. You will have to submit the following documents:
- Loan application form with passport size photo
- Proof of Scheduled Caste (SC)/Scheduled Tribe (ST)/Other Backward Class (OBC), if applicable
- Bank statement of the last 12 months
- Business Incorporation Certificate
- Documents related to the machinery or equipment to be purchased
- Other documents required by the bank
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How to apply for Bank of Baroda Mudra Loan?
Now the question arises that how to apply for Bank of Baroda Mudra Loan. This process is very simple.
- First of all, you have to visit the bank’s website and download the loan application form.
- After this, fill this form completely and submit it to your nearest branch.
- After verification of documents and completion of other formalities at the branch, your loan application will be approved.