Best suited for individuals conducting business independently, with or without hired labour. Enables them to purchase equipment (including PC for professional use), acquiring new or repair existing business premises, tools and working capital requirement.
- Can be used for the purchase of any necessary equipment, like a personal computer (PC) for professional use.
- Repair and renovation of existing equipment.
- Acquisition and repairs to business premises, or tools.
- To generate working capital.
- All the accounts rated as A+ will be entitled for loans at a lower interest rate.
- Simple application procedures.
- Avail of loans at all branches of Bank of Baroda. To get a detailed list of all the Bank of Baroda branches
- All complaints and grievances can be reported to the regional zone offices or directly to the Central office.
Terms & Conditions
- Those who conduct any business / profession independently with or without hired labour such as persons in the medical profession, lawyers, engineers, contractors, consultants, electricians, hair dressers, handicrafts artisans, etc., are eligible.
- To avail of a loan, a DP note, with letter of hypothecation of equipment with the mortgage of business premises has to be submitted to the bank.
- The upper limit of the loan is Rs. 5 Lakhs for businessmen and professionals out of which the working capital should not exceed Rs. 1 Lakh.
- For professionally qualified medical practitioners setting up practice in semi-urban and / or rural areas: Limit of Rs.10 Lakhs with sub-limit not exceeding Rs. 2 Lakhs for working capital.
Rate of Interest
Competitive Pricing linked to tenor based MCLR .
You can see below links also