Bank of Baroda Business Loan

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Bank of Baroda (BOB) is a government-owned bank that provides loans to different types of businesses. These loans include business loans, working capital loans, digital Mudra loans, and loans for Micro, Small, and Medium Enterprises (MSMEs). The interest rates for MSME loans can differ based on the borrower's profile. Here, we'll talk about the different MSME loan schemes offered by Bank of Baroda and their details.

Bank of Baroda offers various types of business loans to different customer needs:

Overdraft Loans

MSME Business Loans

Working Capital Loans

Term Business Loans

Bill Discounting Loans

Product Interest rate (p.a.) (floating)
Loan Amount Maximum of Rs.10 crores
Tenure Minimum of 12 months to Maximum of 60 months
Bank of Baroda Business Loan Interest Rate 10% to 15%
Loan Processing Charges Up to 3% of the loan amount

Also read: Best Business Loan Interest Rate

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Bank/NBFC/Fintech Interest Rate
SBI Bank 9.10% p.a. Apply Now
HDFC Bank 10.00% - 22.50% p.a. Apply Now
Kotak Mahindra Bank 16% p.a. onwards Apply Now
RBL Bank 14%-26% p.a. Apply Now
ICICI Bank Up to 17% p.a. Apply Now
Axis Bank 10.75% p.a. Apply Now
IDBI Bank 8.05% to 13.45% p.a Apply Now
Bank Of Baroda 10% to 15% p.a Apply Now
Ujjivan Small Bank Up to 2.50% Apply Now
Bajaj Finserv 9.75% - 25% p.a. Apply Now
IIFL Finance 12.75% - 44% p.a. Apply Now
FlexiLoans 1% per month onwards Apply Now
ZipLoan 1% - 1.5% per month (Flat) Apply Now
Indifi Finance 1.5% per month onwards Apply Now
Five Star Business Finance Up to 2% Apply Now
Lendingkart Finance 1.25% per month onwards Apply Now
Tata Capital Finance 12% p.a. onwards Apply Now
NeoGrowth Finance 15% p.a. onwards Apply Now
Hero FinCorp Up to 26% p.a. Apply Now
Aye Finance Up to 2.5% Apply Now
Clix Capital Up to 3% Apply Now
Protium Finance Up to 1.5% Apply Now
HDB Finance 8% - 26% p.a. Apply Now
U GRO Capital Up to 9% p.a. Apply Now
Mcapital Business Up to 2% p.a. Apply Now

Also read: Best Business Loan EMI Calculator

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  • BOB MSME Loan
  • Working Capital Finance
  • Baroda Arogyadham Loan
  • Baroda Energy Efficiency Project (BEEP) Finance
  • MUDRA Loan under PMMY
  • NHFDC Refinance
  • PM SVANidhi Scheme
  • BOB Weaver Mudra Scheme
  • Commercial Vehicle Finance
  • Dealers/Traders – Agriculture Inputs
  • Digital Mudra Loan
  • Loan for Construction and Mining Equipment
  • MSME Capex Loan
  • MSME Loans under PMEGP
  • MSME Textile Scheme
  • Baroda Loan for Restaurants
  • Baroda Loan to Business Correspondents
  • Baroda SME Loan Pack
  • Baroda Vidyasthali Loan
  • Bill/Invoice Discounting under Value Chain Finance
  • Credit Guarantee Scheme for Subordinate Debt (CGSSD)
  • Credit Link Capital Subsidy Scheme (CLCSS)
  • Pre-Sanctioned CME Loan Limits for Strategic Segment
  • Scheme for Financing Textile Units
  • Scheme for Professionals
  • SME Medium Term Loan
  • SME Short Term Loan
  • Standup India Scheme (SUI)
  • Technology and Quality Upgradation (TEQUP) Scheme
  • Technology Upgradation Fund Scheme (TUFS)
  • Term Finance
  • PSB Loans in 59 minutes
  • Vendor Bill Discounting for large Real Estate Developers

To qualify for Bank of Baroda's business loans, applicants need to meet certain criteria:

  • Applicants must be at least 18 years old and not older than 65 years.
  • Applicants should have a credit score of 750 or above, reflecting responsible financial behavior.
  • The business should demonstrate stability and a good repayment history, indicating its ability to manage finances effectively.
  • Applicants should not have defaulted on any financial obligations with other institutions in the past.
  • Self-employed individuals, private limited companies, sole proprietors and partnership firms involved in activities related to manufacturing, trading, or providing services.

Also read: Best Business Loan Eligibility

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To apply for a business loan with Bank of Baroda, you'll need the following documents:

  • Business PAN card.
  • Business Address Proof.
  • Address Proof: Aadhaar card, PAN card, passport, bank statement, rent agreement, etc.
  • Identity Proof: Aadhaar card, PAN card, voter’s ID, or passport.
  • Duly filled application form along with passport-sized photographs.
  • Relevant Business Registration Documents: Copy of partnership deed, registration certificate by RBI, SEBI, etc.
  • Copy of the last 2 years' income tax returns.
  • Last 6 months' bank statement.
  • Proof of Business Establishment.
  • Any other document required by Bank of Baroda.

Additional documents may be necessary depending on your business loan type and credit profile. It's essential to ensure you have all the required paperwork ready for a smooth application process.

Components of Business Loan Application Form

The Bank of Baroda business loan application form asks for the following details:

  • Applicant’s name
  • Residential address of the proprietor
  • Workplace address
  • Date of business commencement
  • Business nature
  • Contact details
  • Proprietors details and address
  • Loan amount
  • Banking details
  • Details of working capital to be invested
  • Security/collateral details

Also Read Best Business Loan Documents Required

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1. How can I repay the Bank of Baroda Business loan?

You repay the loan in equal monthly installments (EMIs), which can be facilitated through post-dated cheques. Alternatively, you can opt for Electronic Clearing System (ECS) or set up a standing instruction to debit your Bank of Baroda account with the EMI amount.

2. What is the Bank of Baroda business loan interest rate for existing customer?

If you're already a customer with Bank of Baroda and have a good track record, along with a healthy credit score and consistent cash flow, you may be able to discuss and agree on more favorable loan terms.

3. How can I get a small/startup business loan?

To apply for a small or startup business loan with Bank of Baroda, you can choose from several channels provided by the bank: online, customer care, or visiting the branch directly. However, you must meet the eligibility criteria set by the bank and submit the required documents for the loan approval process to proceed.

4. What is the Bank of Baroda business loan interest rate in 2018?

The interest rate for Bank of Baroda business loans currently ranges between 10% to 15%.

5. What is the usual interest rates for business loans in India?

In India, business loan interest rates typically vary between 10% to 21%, depending on the bank and the eligibility criteria set by each bank.

6. How to check Bank of Baroda business loan status?

To check the status of your Bank of Baroda business loan, you have a few options. You can call the customer care number, log in to your account online if you have one, or reach out to your account manager if you have been assigned one.

7. How to calculate Interest/EMI on Business Loan?

Once your loan details are confirmed, you can utilize online loan EMI calculators to determine the breakdown of your monthly payments into interest and principal components. These calculators also help track the amount paid and the remaining balance, which is beneficial for planning loan prepayment.

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