डिजिटल मुद्रा ऋण

Available on platform

bobWorld application, bobWorld Internet, Bank of Baroda Website – via redirection to JanSamarth Portal

Purpose of Digital Mudra Loan

To provide finance to non-farm micro or small enterprises, engaged in income generating activities through manufacturing, trading and services, whose credit needs are up to Rs. 10,00,000/- for business purposes like Working Capital & Business Expenditure.

Eligible Borrowers

Applicants having existing business under one of the constitutions – Individual, Sole proprietorship

Eligible Limits

Shishu Mudra Loan – Loans from Rs. 10,000/- to Rs. 50,000/-
Kishore Mudra Loan – Loans above Rs. 50,000/- to Rs. 5,00,000/-
Tarun Mudra Loan – Loans above Rs. 5,00,000/- to Rs. 10,00,000/-

Age of Individual / Sole Proprietor

Minimum – 18 years
Maximum – 60 years

Repayment Period

Business Loan/ Term Loan (subject to annual review): Maximum repayment tenure of upto 60 months to be repaid in Equated Monthly Instalment (EMI)
Working Capital: For 12 months from the date of sanction

Moratorium (For Term Loan only) :

Shishu: No Moratorium
Kishore up to Rs. 2 lakhs: Moratorium up to 3 months
Kishore greater than Rs. 2 lakhs & Tarun: Moratorium up to 6 months.

Margin/ Promoter Contribution:

Margin / Promoter Contribution as per policy framework of the bank.

Security:

First Charge on all assets created out of the loan extended to the borrower

No Collateral Security and eligible accounts covered under CGTMSE.

Rate of Interest for Digital Mudra Loans will be as per the Bank’s extant pricing mechanism for MSME Loans, as revised from time to time.

Present pricing structure is as under:

Prepayment Charges - NIL

Unified Processing Charges – NIL

Penal Charges – As per bank’s extant guidelines

Prerequisites for applying Mudra loan through this platform

Before applying the Mudra Loan, applicant should be ready with following things;

• Valid mobile number and email ID (non- mandatory)
• PAN Details, Udyam registration details, GSTN username (In case registered with GSTN),
• Mobile number registered with Udyam & GSTN
• Last 6 months Bank Statement downloaded digitally i.e. through net banking, mobile banking, email etc.
• Business registration details (if applicable), KYC of business and business proprietor
• Associate Concern Details.
• Existing loan details.