Ever found yourself needing urgent money — maybe to expand your small business, pay bills, or handle an emergency — but felt stuck because of the long bank process?
Here’s some good news: Bank of Baroda (BOB) now offers quick and hassle-free Mudra Loans online. You can apply for amounts starting from ₹50,000 up to ₹5 lakh, and in some cases, the loan gets approved in just 2 minutes.
Sounds too good to be true? Let’s break it down step by step.
About Bank of Baroda (BOB)
Founded back in 1908, Bank of Baroda has become one of India’s most trusted public sector banks. It serves millions of customers through various financial products — home loans, car loans, business loans, gold loans, and personal loans.
But among all, the BOB Mudra Loan stands out as a simple way for small business owners and self-employed individuals to get the funds they need — without heavy paperwork or collateral.
Required Documents for BOB Mudra Loan
To keep the process fast and paperless, Bank of Baroda only needs a few key documents:
- Aadhaar Card (linked with your mobile number)
- PAN Card
- Last 6 months’ bank statements
- Salary slips or business proof (if self-employed)
That’s it — no extra paperwork or lengthy forms.
Why Choose Bank of Baroda Mudra Loan?
If you’ve been searching for an affordable and quick business loan, here’s why the BOB Mudra Loan could be a smart choice:
1. Affordable Interest Rates
Bank of Baroda offers competitive rates — starting from 11.40% to 18.75% — depending on your income and CIBIL score.
2. Quick Online Approval
No more waiting at the bank counter. The entire process is online — from application to approval. You can complete it within minutes and, if eligible, get instant approval.
3. No Collateral Required
This is an unsecured loan, which means you don’t have to mortgage your property or provide a guarantor.
4. Flexible Loan Amounts
Whether you need ₹50,000 for working capital or ₹5 lakh to grow your business, Bank of Baroda lets you choose what fits your need.
Eligibility Criteria for BOB Mudra Loan
Before you apply, check whether you meet these basic requirements:
| Eligibility Factor | Requirement |
|---|---|
| Age | 21 to 65 years |
| Monthly Income | Minimum ₹15,000 (salaried or self-employed) |
| CIBIL Score | 650+ |
| Residency | Must be an Indian resident |
How to Apply for Bank of Baroda Mudra Loan Online
Applying for a BOB Mudra Loan is simple and completely online. Here’s how to do it:
- Visit the Official Website
Go to the official Bank of Baroda Mudra Loan page. - Log in with Net Banking
Use your registered user ID and password. - Choose Loan Type & Amount
Select “Personal Loan” or “Mudra Loan,” then enter your desired loan amount — between ₹50,000 and ₹5 lakh. - Select Repayment Tenure
Choose a repayment period between 3 months and 7 years. - Upload Documents
Scan and upload the required documents directly on the portal. - Submit & Get Approval
Once verified, the loan amount is usually credited to your account within 24–48 hours.
Tip: Keep your Aadhaar and PAN linked to your bank account for faster verification.
Important Note
This article is meant to provide information only. Taking a loan is your personal financial decision — please read all terms and conditions on the official Bank of Baroda website before applying.
Frequently Asked Questions (FAQs)
1. Can I get a BOB Mudra Loan without a CIBIL score?
No, you’ll need a minimum CIBIL score of 650 to qualify for this loan. A strong credit history helps you get faster approval and better rates.
2. Is this loan available for self-employed individuals?
Yes, both salaried and self-employed individuals are eligible to apply for a Bank of Baroda Mudra Loan.
3. How long does it take to receive ₹50,000?
If all documents are in order, funds are usually credited within 24 hours after approval.
4. What is the maximum loan limit under this scheme?
Depending on eligibility and credit profile, you can get up to ₹5 lakh under the Mudra loan category.
Final Thoughts
The Bank of Baroda Mudra Loan is a practical way to access small-ticket funding quickly and securely. Whether you run a small shop, freelance business, or startup — this loan can help you move forward without worrying about heavy paperwork or long approval times.