Bank of Baroda Business Loans Types & Eligibility

Bank of Baroda offers a variety of Business Loans to cater to every section of society. The bank provides different facilities to traders, small borrowers under the MUDRA scheme, MSME borrowers and corporate entities.

Following are different types of business loans offered by the Bank of Baroda along with their eligibility criteria:

Traders: Loan up to Rs. 10 Crores and tenure up to 120 months with flexibility to avail peak/non-peak season limits to cater to the varying demands of the business.

Eligibility:

• Individuals and non-individuals engaged in trading of goods/commodities in physical form and dealers in gold & silver jewellery.
• Resident Indians and Non-resident Indians (NRIs).
• Minimum Gross Income: Average of Rs. 3 Lakhs for the last 3 years for residents and average of Rs. 5 Lakhs for the previous 3 years for NRIs.
• Margin: 40% of the realisable value of immovable property
• Security: Mortgage of property.

Mudra Loans: Credit available to micro and small enterprises engaged in some income generation. There is no minimum limit and maximum amount available up to Rs. 10 Lakhs.

Eligibility:

• All non-farm enterprises under Micro and Small enterprises segment.
• Must be engaged in income-generating activities.
• Credit needs up to Rs. 10 Lakhs.
• Allied agriculture activities now allowed under PMMY scheme.

Baroda Vidyasthali Loan: Loan up to Rs. 5 Crores for financing educational institutions for construction of school building, renovation, modernisation, expansion, equipment purchase, vehicle purchase, etc.

Eligibility:

• All educational institutions including playschool.
• Hindu Undivided Family (HUF) not eligible for finance.
• Internal Credit rating should be BOB-6.