Bank of Baroda e Mudra Loan : If you are reading about e Mudra Loan, obviously you will definitely know about Mudra Loan. Because the difference between e Mudra Loan and Mudra Loan is only in the way of applying the loan, rest everything is same. e Mudra Loan is applied online which you can apply from your mobile, your laptop or your computer.
You can apply for this loan from your home, from your office or any other place, for this you do not need to go to the bank. But for Mudra loan, you need to visit the bank and submit all your documents physically.
Nowadays the prevalence of e Mudra Loan is increasing day by day, and should also increase, because this method is easy for the people and it is also a part of the campaign of a digital India.
Nowadays, when people deal with all their work from their mobile, like paying bills, booking tickets or transferring payments to someone, then why go to the bank to take loans, these tasks can also be done online. Many banks are playing a leading role in the direction of e Mudra loan such as SBI e Mudra loan and bank of Baroda e mudra loan etc.
Today in this article we are going to give all the information about BOB e mudra loan which is very important to take an e Mudra loan.
Table of Contents
What is bank of Baroda e mudra loan?
Bank of Baroda is now providing E Mudra Loan facility to its customers. Even if you are already an account holder of this bank, you can take this loan and if you are not an account holder then you can also take this loan. But before applying this loan, you must know about your business once whether your business comes in e Mudra Loan Business Categories or not. BOB has introduced this loan as digital mudra loan.
Are you a Micro-entrepreneur or not because there is e Mudra Loan for Micro-entrepreneurs. You can also apply for bank of Baroda e mudra loan from the bank’s website or from the mobile app. If you want to apply for this loan, and then definitely read the information given below step by step, after reading the information you will definitely be able to apply for this loan.
Bank of Baroda e mudra loan benefits
With bank of baroda e mudra loan, you can make your business bigger.
Small industrialists who have suffered losses in Corona tomorrow can revive the business by taking e-mudra loan.
This e mudra loan is very beneficial for small shopkeepers and small businessmen.
You do not have to go to the bank to get this loan.
You can apply for this loan from your mobile or from your laptop itself.
You do not have to pay collateral security to take this loan.
Very few documents are required to take this loan.
Eligibility Criteria for Bank of Baroda e mudra loan
The customer should be a citizen of India to take this loan.
The mobile number should be linked with the PAN card or Aadhar card of the customer.
The customer should be a micro-entrepreneur.
The customer should not be a defaulter with any bank.
The customer should have a good CIBIL score.
Applicant should have a valid mobile number and email id.
E Mudra Loan can be taken by any Individual, Proprietary Concern, Partnership Firm, Private Limited Company, Public Limited Company.
The applicant should have the necessary skills or experience related to his business
Bank of Baroda e mudra Amount
Bank and Baroda e Mudra loan amount ranges from 500000 to 10 lakh rupees.
There is a different process for different loan amounts.
e mudra loan Bank of Baroda To apply for a loan of 50000, you only need to have a current bank account and your mobile must be linked with your Aadhar or pan card.
BOB Net Banking must be registered with your current account.
You should have last 12 months bank statement.
Apart from this, there should be an estimate of civil engineering for the quotation to buy machinery and to build the shed.
The above documents should also be there for E Mudra loan from 50000 to 2 lakh rupees.
For Mudra loan above 2 lakh, along with all the documents mentioned above, there should also be GST filing.
OR 12 months ITR filing should be done.
How to apply e mudra loan bank of Baroda.
First of all open the official website or mobile app of Bank of Baroda.
On the home page of the website, there are two options, Personal and Business, click on the business option.
Click on MSME option in main menu.
There is an option of Digital Mudra Loan in the drop down, in which there are 4 options of E Mudra Loan.
- Digital Mudra Term Loan (Shishu Up to Rs.50,000)
- Digital Mudra Term Loan upto Rs 10 Lakh
- Digital Mudra Working Capital (Shishu Up to Rs.50,000)
- Digital Mudra Working Capital Loan upto Rs. 10 Lakh
Click on any one of these options as per your requirement.
On the next page, there is information related to e Mudra loan, read it carefully and click on “Proceed” below.
How to apply e mudra loan bank of Baroda.
First of all open the official website or mobile app of Bank of Baroda.
On the home page of the website, there are two options, Personal and Business, click on the business option.
Click on MSME option in main menu.
There is an option of Digital Mudra Loan in the drop down, in which there are 4 options of E Mudra Loan.
Digital Mudra Term Loan (Shishu Up to Rs.50,000)
Digital Mudra Term Loan upto Rs 10 Lakh
Digital Mudra Working Capital (Shishu Up to Rs.50,000)
Digital Mudra Working Capital Loan upto Rs. 10 Lakh
Click on any one of these options as per your requirement.
On the next page, there is information related to e Mudra loan, read it carefully and click on “Proceed” below.
Enter your mobile number and generate OTP.
OTP will be received on your mobile.
Enter the OTP on the screen and click on “Proceed”.
Verify your Business PAN on the next page.
After the business PAN is verified, fill all the details asked by the bank like Aadhar card number, income proof, business details, and personal details and select your business from the drop down.
Select the amount of e Mudra loan.
After entering your mobile number, then generate OTP.
As soon as your documents are validated, E Mudra loan up to Rs 50000 will be transferred to your account.
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