With the Composite Loans the Bank of Baroda is looking at helping artisans and village and cottage industries, and micro small and medium enterprise that are engaged in industrial activities with funding rather. Bank of Baroda has a Composite Loans for the enterprises to cover the fixed capital or the working capital requirement.
The purpose of this loan is to ensure that growth artisans and village and cottage industries, and micro small and medium enterprise that are engaged in industrial activities with helping them cover expenses of shortfall in businesses or even the requirement of need fixed capital for their business.
Any enterprises that wish to take up this loan need to be:
The maximum loan amount as per the Composite Loans from Bank of Baroda, will be up to 100 lakhs, this again will depending of the enterprise’s credit rating.
The base rate of Bank of Baroda is 9.65% as of 21st November 2015.
|Loan amount||Micro Enterprises||Small Enterprises||Medium Enterprises|
|50, 000||Base Rate (BR) 9.65%||BR + 0.50%||-|
|50, 000 - 2, 00, 000||BR + 0.50%||BR + 1.00%||-|
|2, 00, 000 - 10, 00, 000||BR + 1.00%||BR + 1.25%||-|
|10, 00, 000 - 25, 00, 000||BR + 1.25%||BR + 1.75%||BR + 2.00%|
The repayment period will be a maximum of 10 years and a minimum 3 years. With a payment holiday for provided of 12 - 18 months.
You will need to visit your nearest branch to apply for this loan with all relevant documents