BOB ₹10 lakh Loan: The Bank of Baroda is promoting the Government Pradhan Mantri Mudra loan under the BOB Mudra Loan Scheme 2023. This BOB ₹10 lakh ka Loan is very beneficial for businessmen who want to start their businesses. If you need an instant loan amount to office scale you are business then you can also apply online for a BOB ₹10 lakh ka Loan.
Check this article to know the BOB ₹10 lakh ka Loan eligibility criteria and documentation which are important in the BOB mudra loan online application procedure. We will also discuss with you the latest interest rates and other additional charges of the Bob Mudra loan scheme 2023.
BOB ₹10 lakh ka Loan [instant loan]
The Bank of Baroda is one of the nationalized banks in India which is helping their customers to start their new businesses through the Bob Mudra loan scheme. The bank offers a total of Three Types of Mudra loans where the maximum loan is 10 lakh which is known as the BOB Tarun Mudra loan (BOB ₹10 lakh ka Loan). BOB 5 lakh Mudra Loan is very famous among customers and is provided under the Bob Kishore Mudra loan scheme.
If you need a small amount of loan then you can apply for a maximum of 50000 rupees loan in Bank of Baroda under Bob Kishore Mudra loan scheme. While the maximum loan amount is 10 lakh the bank is not asking for any single amount of rupees in processing fees. Applicants do not need to deposit any security or collateral for applying for the Bank of Baroda Mudra loan scheme. The BOB ₹10 lakh ka Loan interest rates will be charged according to the relationship of the customer with the bank and other factors.
So it is a very good option for those businessmen who want to get personal loans but do not want to submit any security and other charges.
BOB ₹10 lakh ka Loan Eligibility
- Any citizen of India can apply for a BOB ₹10 lakh ka Loan.
- The minimum age should be 18 years old
- Agriculture allied activities, Manufacturing units, Service providers, wholesale and retailer of various goods and things including vegetables and fruits, etc, Any type of business which is lying under MSMEs is eligible to get a Mudra loan for financial help.
Document for BOB Mudra loan
The following documents are important at the time of applying online for the Bank of Baroda Mudra loan. You can also prepare a soft copy of the following documents:
- Government-approved identity card ( Aadhar card/PAN card/ voter ID card/ passport/ driving license etc.)
- Address proof of the applicant (Electricity bill/water bill/ Aadhar card/ telephone bill etc.)
- The proof of registration of business.
- Passport-size photograph of the applicant
- The documents to support the need for a BOB ₹10 lakh ka Loan( bill receipt of Equipment, Vendor details, etc.)
Apply online for BOB ₹10 lakh ka Loan
If you need the maximum loan amount then you have to visit your nearest Bank of Baroda branch to apply through physical mode. However, the bank is providing Bob Shishu and Kishore Mudra loans through online mode, where you can apply for up to 5 lakh Mudra loans in the Bank of Baroda. You need to follow the following procedure while applying for up to 5 lakh ka loan in Bank of Baroda:
- Visit the official website of the Bank of Baroda.
- Now select the loan feature in the Bob personal banking link.
- After that you will see various loan features, you have to click on the link to the Bob Mudra loan scheme.
- The eligibility conditions and all terms and conditions will appear on your screen and you can click on the BOB Loan Apply link after reading all of them.
- Enter your personal details including your name, mobile number and email ID, address information, and all other information in this bob loan online application form
After this, you have to click on the link to submit. The bank will review your application and the employee will contact you to provide the bob personal loan after that you have to provide supporting documents in the very procedure. once you are verification has been completed, you will receive the loan amount in your bank account after a few hours.