Digital Mudra Loan

Available on platform

bobWorld Application bob World Internet, Bank of Baroda Website

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

• First charge on all assets created out of the loan extended to the borrower
• No Collateral Security and elligible accounts covered under CGTMSE.

Interest rate Interest rates are to be charged as per the policy of the bank.Interest Rates & Charges

Upfront fee/Processing charges as per the policy of the bank.

There is no minimum loan amount for Mudra loans.

Eligible Borrowers

• Individuals, Proprietary concern, Partnership Firm, Private Ltd. Company, Public Company are eligible to apply for Mudra Loan.
• The applicant should not be 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.

Prerequisites for applying Mudra loan through this platform

Before applying the Mudra loan, the applicant should ready with 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) KYCof business and business promoter/partner/proprietor,
• Associate concern details,
• Existing loan details.