Bank of Baroda offers an impressive range of business loans and credit facilities to Micro, Small & Medium Enterprises (MSMEs) and corporate entities. You can get a loan up to Rs. 200 Crores at competitive interest rate starting from 6.75% p.a. and flexible repayment tenure.
|Loan amount||Up to Rs. 200 Crores|
|Tenure||Flexible & depends on loan type|
|Rate of interest||6.75% p.a. onwards|
|Types||Secured and unsecured business loans|
|Type of facility||Term loan as well as overdraft|
Additional Info: Also check Bank of Baroda Balance Check Number
Additional Reading: How to get loans for bad credit?
Bank of Baroda offers facilities to calculate your Business Loan EMI. Click on the Calculate EMI option and enter the loan amount, interest rate, and loan tenure to get your Business Loan EMI.
You can also use the Business Loan EMI Calculator available on our website. Using this calculator is easy. Submit details like loan amount, rate of interest, and repayment tenure to arrive at the EMI amount. This calculator provides the loan amortisation schedule as well. It gives you the year-wise breakup of your loan repayments.
Here is an example of EMI calculation using fastmudraEMI Calculator:
Loan amount required: Rs. 50 Lakhs
Applicable rate of interest: 6.75% p.a.
Repayment tenure: 5 years
EMI to be paid by you each month: Rs. 98,417
Total interest to be paid: Rs. 9,05,038
Total amount to be paid by you to the lender: Rs. 59,05,038
Our EMI Calculator also provides the following amortization schedule:
Amount Paid by
Interest paid during
Principal paid during
|1||Rs. 50,00,000||Rs. 98,417||Rs. 28,125||Rs. 70,292||Rs. 49,29,708|
|2||Rs. 49,29,708||Rs. 11,81,008||Rs. 3,06,014||Rs. 8,74,994||Rs. 40,54,714|
|3||Rs. 40,54,714||Rs. 11,81,008||Rs. 2,45,090||Rs. 9,35,918||Rs. 31,18,797|
|4||Rs. 31,18,797||Rs. 11,81,008||Rs. 1,79,924||Rs. 10,01,084||Rs. 21,17,713|
|5||Rs. 21,17,713||Rs. 11,81,008||Rs. 1,10,221||Rs. 10,70,787||Rs. 10,46,926|
|6||Rs. 10,46,926||Rs. 10,82,590||Rs. 35,664||Rs. 10,46,926||Rs. 0|
Additional Reading: How to calculate credit score?
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.
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.
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.
Baroda Arogyadham: Loan up to Rs. 30 Crores for MSME units to set up/purchase of new clinic/hospital, renovate/modernise/expand existing hospital or clinic, purchase modern medical diagnostic or office equipment, and meet working capital requirements.
Composite Loans: Loan up to Rs. 1 Crore for working capital requirement, and capital investment such as the purchase of fixed assets for business. Repayment up to 10 years (extendable).
Working Capital Finance: Loan to meet operating expenses, purchase inventory, finance receivables either by direct funding like Bills Discounting or by issuing a letter of credit.
Term Finance: Loan for all business units for capital expenditure, acquiring fixed assets, business unit set up or expansion, purchase equipment for professional use, etc.
Apart from the business loan schemes mentioned above, Bank of Baroda offerrs the following credit facilities to business units:
Additional Reading: Cibil score check free online by pan number
a) Identity Proof – Any one of the following:
Voter ID Card
Signature identification from the present banker of proprietor, partner, or director.
b) Address Proof of Residence – Any one of the following:
Latest telephone bills
Latest Electricity bills
Property Tax receipt
Voter ID Card of proprietor, partner, or director
c) Proof of address of the business
d) Income Documents:
Three years IT Returns and Sales Tax Returns (if applicable)
Audited Balance Sheet (If audited B/S are not available, the bank accepts unaudited B/s for fund-based limits up to Rs. 25 Lakhs.
MOA and AOA in case of companies
Partnership deed in case of partnership firms
Assets and Liabilities of promoters and guarantors with their latest IT returns
Projected B/S for the next two years in case of WC limits and the entire repayment tenure in case of term loans.
e) Rent agreement, if business premises is on rent
f) MSME Registration
g) In case of takeover of loans, sanction letter along with terms and conditions is necessary.
h) Photocopies of all property documents, if the property is offered as collateral
i) Position of accounts from existing bankers and confirmation of asset classification (in case of takeover)
For limits above Rs. 25 Lakhs, the following additional documents are necessary:
a) Audited Balance Sheets are compulsory
b) Business profile of the unit
c) Last three years B/S of associate or group companies
d) Project Report
e) Review of account
f) Manufacturing Process, if applicable
Additional Reading: How to improve cibil score?
fastmudra offers accessible avenues to apply for Bank of Baroda Business Loans from its website. The process is simple.
You can also apply through the following ways:
Additional Reading: Check Credit Bureau of India
You can contact the bank through the following means regarding Business Loan queries: