MSME Loans from Bank of Baroda
Being one of the largest public sector banks in India, Bank of Baroda (BoB) offers a range of loans to different segments of its customer base. BoB has the largest “selection” of MSME loan schemes among Indian banks. The bank also offers many subsidy-linked schemes to help small businesses get access to funds at a discounted rate.
The MSME loans offered by Bank of Baroda are:
- Term Finance
- Baroda Vidyasthali Loan
- SME Short Term Loan
- Baroda Arogyadham Loan
- Composite Loans
- Loan to Small Business Borrower
- Overdraft for e-Commerce Business
- Baroda Wheelz Loan
- Baroda Stayz Loan
- E-Business Pack
- Commercial Vehicle Finance
- Baroda Loan for Restaurants
- Laghu Udyami Credit Card
- MSE General Credit Card
- GST Receivables Card for MSME Entrepreneurs
- Baroda Property Pride Loan
- NHFDC Refinance
- Baroda Contractor Scheme
- SME Medium Term Loan
- Scheme for Professionals
- Construction and Mining Equipment
- Baroda SME Loan Pack
- MSME Textile Scheme
- Baroda Contractor – Mumbai
- Baroda Loan to Business Correspondents
- Baroda Vendor Bill Discounting Product for Vendors/Suppliers of Large Real Estate Developers
- Weaver Mudra Scheme
- Mudra Loan
- Stand-Up India Loan
Bank of Baroda offers one Subsidy Linked Scheme to MSMEs, viz Prime Minister Employment Generation Programme (PMEGP).
We give you a brief introduction to each of these BOB MSME loans below. In addition, you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Bank of Baroda Term Finance for MSMEs
Bank of Baroda offers term loan schemes to help small businesses to meet capital expenditure needs. This loan can also be availed for expenditure related to business set-up and expansion.
Features of Bank of Baroda Term Finance (MSME Loan)
Why this Loan?
- The Bank of Baroda Term Finance Loan is meant for you if your business needs funds to meet its capital expenditure or working capital needs
- The bank also offers non-fund based finance in the form of Deferred Payment Guarantee for the acquisition of fixed assets
Bank of Baroda Vidyasthali Loan Scheme
This loan helps Registered Trusts, Societies and Companies in the Education sector raise funds for purchase of land to build an educational institute, purchase lab and other equipment, meet working capital needs, etc. The loan can also be availed for renovation or repair of the building.
Features of Baroda Vidyasthali Loan
Why this Loan?
- The Bank of Baroda Vidyasthali Loan is meant for Registered Trusts, Societies and Companies imparting academic and/or professional education by establishing schools, colleges, etc. recognised by govt. authorities
- The borrower must have received the necessary approvals required for construction, addition or alteration from all the concerned authorities to be eligible for the loan
- Play School franchise of Zee school, Euro Kids, Kidzee, etc. are also eligible for this loan
Bank of Baroda SME Short Term Loan
This loan helps small businesses in the MSME sector get financial assistance to meet their short-term capital needs. The maximum loan amount is Rs. 2.5 crore for this loan. As the name suggests, this is a short-term loan and must be repaid within 12 months.
Features of Bank of Baroda SME Short Term Loan
Why this Loan?
- The Bank of Baroda SME Short Term Loan is meant for small businesses to help them get access to funds for their short-term capital needs
- Businesses that have a credit rating of BOB-5 and above and satisfactory dealings with Bank of Baroda for at least three years are eligible for this loan. Please get in touch with the bank to know your BOB rating
Bank of Baroda Arogyadham Loan Scheme
This loan helps medical practitioners meet their capital expenditures for activities right from setting up a clinic, nursing home, hospital, pathology labs, etc. to purchase of equipment, ambulance, etc. The maximum loan amount sanctioned under this loan scheme is Rs. 30 crore for metro area, Rs. 12 crore for urban area, Rs. 6 crore for semi-urban area and Rs. 25 lakh for rural areas.
Features of Baroda Arogyadham Loan
Why this Loan?
- The Bank of Baroda Arogyadham Loan is meant for medical practitioners who need financial assistance in fulfilling their capital or working capital needs
- Qualified Medical practitioners from different branches of medicine such as Allopathy, Homeopathy, Unani, Ayurveda, etc. are eligible for this loan if they have experience in running the business
- Individuals, Proprietors, LLPs, Trusts and Companies can also avail this loan as long as at least one of the promoters/director has the requisite qualification in any branch of medicine
Bank of Baroda Composite Loan for MSMEs
This loan helps businesses in the Micro and Small Enterprises (MSE) sector meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies in the manufacturing and services sector that fit the SME definition are eligible for this loan.
Features of Bank of Baroda Composite Loan
Why this Loan?
- This Bank of Baroda Composite Loan is meant for small businesses in the MSE sector who need financial assistance to meet their working capital and capital expenditure needs
- Micro and Small Enterprises in the manufacturing sector and Micro Enterprises in industrial activities that are seeking financial assistance are eligible for this loan
Bank of Baroda MSME Loan to Small Business Borrowers
This loan helps individuals running a small business independently get funds to purchase equipment, property to set up business unit, acquire assets, etc. This loan can also be availed for meeting the working capital needs of the business.
Features of Bank of Baroda MSME Loan to Small Business Borrowers
Why this Loan?
- This Bank of Baroda MSME Loan to Small Business Borrowers is meant for small businesses to help them meet their working capital and capital expenditure needs
- The maximum loan amount sanctioned under this loan scheme is Rs. 5 lakh
Bank of Baroda Overdraft for e-Commerce Business
This loan helps e-commerce businesses in the MSME sector meet their working capital needs. The maximum loan amount for the loan is Rs. 25 lakh.
Features of Baroda Overdraft for e-Commerce Business
Why this Loan?
- The Bank of Baroda Overdraft for e-Commerce Business is meant for e-commerce business owners who want to avail a loan to meet their working capital needs
- All e-commerce businesses engaged in manufacturing and trading activities through Amazon and Flipkart portal are eligible for this loan
Bank of Baroda Wheelz Loan
This loan helps small businesses in the MSME sector such as driver partners and delivery executives get funds to purchase two wheelers. The maximum loan amount for the loan is Rs. 75,000.
Features of Baroda Wheelz Loan
Why this Loan?
- The Bank of Baroda Wheelz Loan is meant for driver partners and delivery executives who want to avail a loan to purchase two wheelers
- The repayment is done directly from a loan account maintained with the bank
Bank of Baroda Stayz Loan
This loan helps hotels in tie-up arrangement with OYO get funds for refurbishment of hotel rooms and equipment for room based on OYO design specification for rental purpose. The maximum loan amount for the loan is Rs. 25 lakh.
Features of Baroda Stayz Loan
Why this Loan?
- The Bank of Baroda Stayz Loan is meant for hotels in tie-up arrangement with OYO get funds for refurbishment of hotel rooms and equipment for room based on OYO design specification for rental purpose
- Only the hotels in tie-up arrangement with OYO for the last 6 months or more are eligible for this loan
Bank of Baroda e-Business Pack
This loan helps small e-businesses in the MSME sector get funds to meet their working capital and capital expenditure needs. The maximum loan amount sanctioned under this loan scheme is Rs. 5 crore.
Features of Baroda e-Business Pack
Why this Loan?
- The Baroda e-Business Pack is meant for e-businesses in the MSME sector get funds to meet their working capital and capital expenditure needs
- The bank offers this loan as Overdraft (OD), Term Loan or Composite Loan depending on the needs of the borrower
- The bank offers collateral-free loan under this scheme for loans up to Rs. 10 lakh
Bank of Baroda Commercial Vehicle Finance
This loan helps Small Road Transport Operators in the Micro, Small and Medium Enterprises sector buy commercial vehicles. The maximum loan amount for this Bank of Baroda MSME loan is Rs. 30 crore.
Features of Bank of Baroda Commercial Vehicle Finance
Why this Loan?
- The Bank of Baroda Commercial Vehicle Finance is meant for Small Road Transport Operators in the MSME sector to acquire funds for purchasing new commercial vehicles for their business
- This loan can only be availed on the purchase of brand new vehicles
- The bank finances up to 100% on the chassis, 75% on the body and 95% on the fully-built vehicle
Bank of Baroda Loan for Restaurants
This loan helps restaurants acquire funds to acquire premises, renovate existing premises, modernise existing premises, interior decoration of the restaurant, etc. The maximum loan amount for this Bank of Baroda MSME loan is Rs. 5 crore in metro areas, Rs. 1 crore in urban areas, 50 lakh in semi-urban areas.
Features of Bank of Baroda Loan for Restaurants
Why this Loan?
- The Bank of Baroda Loan for Restaurants is meant for restaurants acquire funds to acquire, renovate, modernise or decorate the restaurant, etc.
- The bank offers this loan as working capital loan and term loan depending on the needs of the borrower
Bank of Baroda Laghu Udyami Credit Card Scheme
This loan helps businesses in the Micro and Small Enterprises sector meet their capital expenditure and working capital requirements. The maximum amount sanctioned under this scheme is Rs. 10 lakh.
Features of Baroda Laghu Udyami Credit Card Scheme
Why this Loan?
- This Bank of Baroda Laghu Udyami Credit Card Scheme is meant for all types of small businesses in the MSE sector who need financial assistance to meet their working capital and capital expenditure needs
- Small business units, retail traders, artisans, villages industries, small scale industrial units, professionals, etc. are eligible for this loan
Bank of Baroda MSE General Credit Card Scheme
This loan helps small businesses in the Micro and Small Enterprises sector meet their capital expenditure and working capital requirements. The maximum amount sanctioned under this scheme is Rs. 10 lakh.
Features of Baroda MSE General Credit Card Scheme
Why this Loan?
- This Bank of Baroda MSE General Credit Card Scheme is meant for all types of small businesses in the MSE sector who need financial assistance to meet their working capital and capital expenditure needs
- The working capital loan must be repaid within 12 month or term loan must be repaid within 7 years
Bank of Baroda GST Receivables Card for MSME Entrepreneurs
This loan helps small businesses in the Micro and Small Enterprises sector meet their working capital requirements. The maximum amount sanctioned under this scheme is 80% of the input tax credit under GST pending as on date to be claimed in the future or 80% of the input tax credit unutilised under GST where refund is to be applied.
Features of Baroda GST Receivables Card for MSME Entrepreneurs
Why this Loan?
- This Bank of Baroda GST Receivables Card for MSME Entrepreneurs is meant for all types of small businesses in the MSE sector who need financial assistance to meet their working capital needs
- This loan must be repaid within 9 months with a moratorium of 3 months
Bank of Baroda Property Pride Loan
This loan helps businesses in the Micro, Small and Medium Enterprises (MSME) sector meet their capital expenditure and working capital requirements. The maximum loan amount sanctioned under this loan scheme is Rs. 10 crore in metro areas, Rs. 5 crore in urban areas, Rs. 3 crore in semi-urban areas and Rs. 1 crore in rural areas.
Features of Bank of Baroda Property Pride Loan
Why this Loan?
- This Bank of Baroda Property Pride Loan is meant for all types of small businesses in the MSME sector who need financial assistance to meet their working capital and capital expenditure needs
- The bank offers this loan as overdraft as well as term loan. The overdraft must be repaid within 12 months and the term loan must be repaid within 5 years
Bank of Baroda National Handicapped Finance Development Corporation (NHFDC) Refinance
Bank of Baroda offers this as a collateral-free loan scheme to help self-employed persons with disabilities get funds to meet their capital needs. The maximum loan amount sanctioned under this loan scheme is Rs. 25 lakh.
Features of Bank of Baroda NHFDC Refinance
Why this Loan?
- This Bank of Baroda NHFDC Finance is meant for self-employed persons with disabilities avail funds to meet their capital needs
- This is a collateral-free loan and must be covered under CGTMSE guarantee
Bank of Baroda Contractor Scheme
This loan helps MSME contractors and sub-contractors meet their fund-based and non-fund based working capital and capital expenditure requirements. The maximum loan amount is Rs. 30 crore for this loan.
Features of Bank of Baroda Contractor Scheme
Why this Loan?
- The Bank of Baroda Contractor Scheme is meant for contractors and sub-contractors who are classified as MSME to help them meet their working capital and capital expenditure needs
- Bank of Baroda offers this loan scheme as a working capital loan, term loan, Letter of Credit, Bank Guarantee, etc.
Bank of Baroda SME Medium Term Loan
This loan helps small businesses in the MSME sector get financial assistance to meet their working capital and capital expenditure requirements. The maximum loan amount is Rs. 5 crore for this loan. This loan must be repaid within 3 years.
Features of Bank of Baroda SME Medium Term Loan
Why this Loan?
- The Bank of Baroda SME Medium Term Loan is meant for small businesses to help them get access to funds for their medium-term capital needs
- Businesses with satisfactory dealings with Bank of Baroda without inspection and audit irregularities for at least three years are eligible for this loan
Bank of Baroda Scheme for Professionals
This loan helps Architects, Engineers, Lawyers, CA, CS, etc. purchase of office, equipment, construction of office, expansion of unit, etc. The maximum loan amount sanctioned under this loan is Rs. 5 crore.
Features of Bank of Baroda Scheme for Professionals
Why this Loan?
- The Bank of Baroda Scheme for Professionals is meant for CA, CS, Architects, Lawyers, Engineers, etc. for purchase or construction of office, purchase or upgrade of equipment, expansion of unit, etc.
- The bank offers this funded facility as a term loan, demand loan, cash credit, etc.
Bank of Baroda Construction Equipment Loan
This loan helps construction and mining businesses in the MSME sector buy new equipment, machinery or vehicles for business use. Contractors are also eligible for this loan.
Features of Construction Equipment Loan
Why this Loan?
- This Bank of Baroda Construction Equipment Loan is meant for construction and mining businesses in the MSME sector who need financial assistance to purchase brand new equipment, machinery or vehicles for business use
- This is a collateral-free loan
Bank of Baroda SME Loan Pack
This loan helps businesses in the Small and Micro Enterprises (SME) sector meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies in the SME definition are eligible for this loan.
Features of Baroda SME Loan Pack
Why this Loan?
- The Baroda SME Loan Pack is meant for all types of businesses in the MSME sector who need financial assistance to meet their needs for purchasing equipment, machinery, research and development activities, etc. as well as working capital requirements
- This is a composite loan and borrowers can use this loan to meet both their working capital and capital expenditure needs
Bank of Baroda MSME Textile Scheme
This loan helps businesses in the Micro and Small Enterprises (MSE) sector meet their working capital requirements related to a new textile project. The loan amount can be used for acquisition or construction of land and building, purchase of machinery or equipment, etc.
Features of Bank of Baroda MSME Textile Scheme
Why this Loan?
- This Bank of Baroda MSME Textile Scheme is meant for textile businesses in the MSE sector who need financial assistance to meet their working capital requirements related to a new project
- The maximum loan amount sanctioned under this loan scheme is Rs. 25 crore
Bank of Baroda Contractor – Mumbai
This loan helps MSME contractors and sub-contractors engaged in the execution of civil engineering contract works awarded by BMC or Civic Agencies operating in the Greater Mumbai Metropolitan Region meet their working capital requirements. This is a need-based loan.
Features of Bank of Baroda Contractor – Mumbai
Why this Loan?
- The Bank of Baroda Contractor Scheme is meant for contractors and sub-contractors engaged in civil contract works in Mumbai awarded by BMC/Civic Agencies to get funded and non-funded assistance to meet their working capital needs
- Bank of Baroda also offers non-funded assistance such as Bank Guarantee based on the needs of the contractors
Bank of Baroda Loan to Business Correspondents
The loan helps businesses finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc. as well as business expansion and business asset-acquisition needs.
Features of the Baroda Loan to Business Correspondents
Why this Loan?
- The Bank of Baroda Loan to Business Correspondents can be taken by Kiosk Operators, Customer Service Providers and other Business Correspondents for all projects and activities related to running the business
- The maximum loan amount sanctioned under this loan is Rs. 1.5 lakh for rural and sub-urban areas, Rs. 2 lakh for urban areas and Rs. 2.5 lakh for metro areas
Bank of Baroda Vendor Bill Discounting Product for Vendors/Suppliers of Large Real Estate Developers
The loan helps SME vendors and suppliers of large real estate developers finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc. against raised invoices.
Features of the Baroda Vendor Bill Discounting Vendors/Suppliers of Large Real Estate Developers
Why this Loan?
- The Bank of Baroda Loan to MSME Vendors and Suppliers can be availed by SME vendors and suppliers of large real estate developers to meet their working capital needs
- The bank offers up to 90% of the bill amount as loan to the borrower. The loan is repayable within 90 days
Bank of Baroda BOB Weaver Mudra Loan Scheme
Also known as the handloom scheme, this loan helps weavers get the funds to meet their working capital and capital expenditure needs. The maximum loan amount is Rs. 5 lakh.
Features of Bank of Baroda BOB Weaver Mudra Loan Scheme
Why this Loan?
- The loan is meant for weavers in the MSME sector get funds to meet their working capital and capital expenditure needs
- The Bank of Baroda Star Weaver Mudra Loan is extended as a working capital loan or term loan based on the needs of the borrower
Bank of Baroda Mudra Loan Scheme
This loan helps unfunded individuals, proprietors, partnerships running small manufacturing units, fruit and vegetable shops, food service units, repair shops, small industries, machine operators, truck operators, etc. get funds for their needs. The maximum loan amount is Rs. 10 lakh.
Features of Bank of Baroda Pradhan Mantri Mudra Yojana (PMMY)
Why this Loan?
- The loan is meant for Non-corporate Small Business Segment get funds to meet their Working Capital needs
- The Bank of Baroda Mudra Loan is divided into three variants depending on the type and size of business, namely Shishu, Kishore and Tarun. The quantum of loan depends on the loan variant applicable to the business
Bank of Baroda Stand-up India Loan Scheme
This loan is designed to help women and SC/ST entrepreneurs set up greenfield enterprises in India. Greenfield enterprises eligible for this loan scheme are all first time ventures of women and SC/ST beneficiaries in the manufacturing, trading and services sector. The maximum loan amount for this loan is Rs. 1 crore.
Features of Stand-Up India Loan
Why this Loan?
- The Bank of Baroda Stand-Up India loan is meant for encouraging people from the SC/ST category and women entrepreneurs to set up greenfield enterprises in the manufacturing, services or trading sectors. In the case of non-individual enterprises, at least 51% of the company stakes should be held by women or people in the SC/ST category
- The maximum loan amount for the Bank of Baroda Stand-up India loan is Rs. 1 crore
Important Note: Bank of Baroda may offer more MSME loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, strategic premium, etc. may be decided on a case-to-case basis.
Interest Rate for Bank of Baroda MSME Loans
- The applicable interest rate on this loan is defined as the sum of three factors namely, one-year Marginal Cost of Funds based Lending Rate (MCLR), Strategic Premium (SP) and Credit Risk Premium
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- Bank of Baroda Website: www.bankofbaroda.com and www.bobibanking.com (net banking)
- Headquarters: Baroda (Vadodara), Gujarat
- Call Centre Toll-Free Number: 1800 223 344, 1800 102 4455