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    Bank of Baroda SME Term Loans

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14% Fixed
    1,000 to ₹10,000 One time fee
    20,000 - 2L
    1-3 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    Bank of Baroda’s Small and Medium Enterprises Medium Term Loans

    The growth of enterprises and small and budding enterprises has always been on the list of Bank of Baroda. This sector booming today and need finance to help them along the way, Bank of Baroda has a products specifically designed Small and Medium Enterprises called the Baroda Small and Medium Enterprises Medium Term Loans.

    Where is the purpose of Bank of Baroda’s Small and Medium Enterprises Medium Term Loans?

    The purpose of this loan is to ensure that the enterprises have a single line of credit to the applicant from Small and Medium Enterprises to finance their requirement of working capital, and long term commitments as well.

    What is the eligibility criteria for Bank of Baroda’s Small and Medium Enterprises Medium Term Loans?

    Any enterprises that wish to take up this loan need to be a legitimate Micro Small and Medium enterprise. The Micro Small and Medium enterprise must have a good credit rating for at least 3 years, and must be willing to produce statements like balance sheets, profit and loss accounts, the applicant must also have 3 years of satisfied dealings with the bank.

    What is the maximum amount of loan I can avail?

    The maximum loan amount for Micro Small and Medium enterprise will be up to 25% of the net worth as per the last balance sheet, or Rs. 5 crore whichever is lesser. The margin charged would be 25%.

    What is the rate of interest on Bank of Baroda’s Small and Medium Enterprises Medium Term Loans?

    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%

    What are the documents required for Bank of Baroda’s Small and Medium Enterprises Medium Term Loans?

    1. Mortgage of fixed assets of the company that is equitable, first charge or extension of existing first charge wherein the assets cover is a minimum of 1.25.
    2. The guarantees of all the directors or will require a third party guarantors with the coverage power.
    3. The charge on the current assets of the facility with adequate drawing power.

    What are the terms for Bank of Baroda’s Small and Medium Enterprises Medium Term Loans?

    The repayment or the mortgage period will be a maximum of 36 months. There will also be a 25% concession in applicable charges under the processing fees bracket. The prepayment penalty of 1% will be charged if paid within 24 months.

    How do I apply for this loan?

    You will need to visit your nearest branch to apply for this loan with all relevant documents

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