BOB E Mudra Loan : In today’s times, when most people want to start their own business, taking a loan has become a major necessity. Especially, in the digital age, you can easily apply for an e-mudra loan online without going to the bank.
Bank of Baroda (BOB) has extended the facility of e-Mudra loan to its customers, which allows you to apply for a loan in just 5 minutes without hassle and hassle. Let’s know about BOB e-Mudra Loan in detail in this article.
What is BOB e-Mudra Loan?
Under the Mudra Loan Scheme, Bank of Baroda offers loans colouring from Rs 50,000 to Rs 10 lakh. The scheme is designed to give small entrepreneurs and startups a boost to their business. The application process for the loan is completely online and has been made convenient and simple.
Eligibility to take BOB E Mudra Loan
If you want to take an e-Mudra loan from Bank of Baroda, you have to fulfil the following conditions:
- Indian Citizenship: The applicant must be a resident of India.
- Civil Score: Your credit score should be good and satisfactory.
- Age limit: The applicant should be at least 18 years of age.
- Required Documents: You must have all the mandatory documents present.
Required documents
The following documents will be required for e-Mudra Loan:
- Aadhaar card
- Mobile number linked to Aadhaar
- PAN Card
- Bank account details
- Business related documents (if loan is being taken for)
Benefits of BOB E Mudra Loan
Faster process: Apply online without going to the bank and get the loan amount within 24 hours.
- Digital facility: The facility to complete the entire process sitting at home.
- Less Documentation: Apply with basic documents only.
- Business Promotion: Financial support to small and medium businesses for expansion.
