BOB E-Mudra Mudra Loan Scheme : Pradhan Mantri Mudra Yojana was launched by the Government to provide affordable funding options to small and micro enterprises in India. The scheme was launched by the Prime Minister on April 8, 2015 to help industries avail credit for any non-fund based or fund based facility. Pradhan Mantri Mudra Yojana or PMMY Yojana was launched by the Government of India in 2015 to promote small enterprises in India. Up to Rs. 10 lakh micro units (CGFMU) under PMMY is guaranteed by credit guarantee and is provided by National Credit Guarantee Trustee Company (NCGTC).
BOB E-Mudra Loan Scheme
Under this scheme, the people who want to start their own business will be given business loan through this scheme, which will help them to set up the business. Mudra Loan Yojana 2023, if you want to get all information about this scheme, you have complete information in this article. Under PM Mudra Loan, guarantee cover is available for 5 years and hence the maximum tenure for advances offered under Pradhan Mantri Mudra Loan Scheme is 60 months. To apply for the loan, you can fill and submit Pradhan Mantri Mudra Yojana application form on e-Mudra portal or UdyogMitra portal.
Objective of BOB E-Mudra Loan Scheme
Under this scheme, the people who want to start their own business will be given business loan through this scheme, which will help them to set up the business. Mudra Loan Yojana 2023, if you want to get all information about this scheme, you have complete information in this article.
Information about BOB E-Mudra Loan Scheme
Indeed, the Mudra loan scheme by the government is an attractive credit option for small and medium business operators. Find the key highlights of Bank of Baroda Mudra Loans below
Maximum Loan Amount : Rs. 10 lakhs
Collateral : Not required
Interest Rate: Varies depending on the type of loan
Tenure : Term Loan – 84 months
Working capital – 12 months
Eligibility of the candidate to avail the scheme
Bank of Baroda offers Mudra Loans with simple eligibility parameters to facilitate a quick application process. Get details about BOB Mudra Loan Eligibility below:
All types of enterprises engaged in non-agricultural business activities may apply.
Business should come under MSME sector.
Business should be busy generating income through daily activities.
Rs. Businesses with credit requirements up to 10 lakhs can apply.
Businesses engaged in allied agricultural activities like fishing and horticulture can also apply for this credit.
BOB E Mudra Loan Features and Benefits
Credit offices for micro and small enterprises,
No security or insurance required
There are no handling charges
For reserve or non-store based requirements,
Can be used for various purposes and
No base advance amount etc.
Documents required to avail the scheme
All your applicants have to provide some documents which are as follows
Mudra loan application form duly filled.
Proof of identity documents like Aadhaar/PAN/Driving License/Passport/Voter ID/ Photo ID of all applicants issued by Govt (in case of joint loan).
Residence proof documents like latest utility bill/Aadhar/voter ID/passport/bank account statement of all applicants (in case of joint loan).
Business ID and address proof documents (Licence/Registration Certificates/Copy of Deed, etc.).
Latest photographs of the applicant.
Evidence of minority, if any.
Proof of loan requirement, i.e. equipment quotation, vendor details etc.
How to Apply for BOB e-Mudra Loan Online
First of all, if you want to avail Mudra loan from Bank of Baroda, first of all you have to go to its official website.
A main page will open in front of you where you will see the option of e-currency, click on it.
Then a new page will open in front of you. To do so, you should carefully read the instructions provided by the bank and press the “Send” button.
Now you need to register your mobile number, you need to enter the loan amount that you want to get.
A new page will open, where you have to carefully fill the details of all the documents you have. And if you know, you will also get a chance to know.
Click on submit when all information is correct.
Now your information will be sent and you will take a print out of success flower and keep it with you.
In this way you will get a loan of up to 50,000 in 5 minutes.