BOB Swavalamban Yojana Business Loan: Are you a woman entrepreneur looking to give wings to your dreams? Bank of Baroda has recently launched Mahila Swavalamban Yojana, which is specifically designed to make women self-reliant and promote their business ventures. This scheme helps women to deal with financial challenges. But the question is where does this scheme stand compared to other major loan options available in the market? Let’s know how different and beneficial this Mahila Swavalamban Yojana is.
To make women self-reliant and promote their businesses, Bank of Baroda has launched two new schemes—Baroda Mahila Swavalamban and Baroda Smart OD. The special thing is that these schemes have been designed keeping in mind the needs of women. Baroda Mahila Swavalamban is for those entrepreneurs who want to run a business on a large scale. Under this scheme, loans ranging from ₹20 lakh to ₹ 7.5 crore are being given, which can be completely collateral-free up to ₹ 5 crore. Also, this loan gives the facility of repayment in a long period of up to 10 years, including a moratorium period.
BOB Swavalamban Yojana
Apart from this, Baroda Smart OD is for those businesses who want to take advantage of digital facilities. In this scheme, loans ranging from ₹ 50,000 to ₹25 lakh are given under overdraft facility. This Baroda Mahila Swavalamban scheme is a digital solution for small businesses, with interest rates starting from 10% and extremely easy documentation. Both the schemes have a provision for a waiver on processing fees, making these schemes even more affordable.
Important information about the BOB Swavalamban Scheme
| Feature | Details |
| Interest Rate | Starts from 9.15% |
| Loan Amount | ₹20 lakh to ₹7.5 crore |
| Collateral-Free Loan | Up to ₹5 crore under CGTMSE guarantee |
| CGTMSE | A government scheme that facilitates collateral-free loans for MSMEs |
| Processing Fee | 50% discount on processing fees |
| Repayment Period | Up to 10 years, including the moratorium period |
| Eligibility | – UDYAM and GST-registered enterprises – Minimum 51% ownership by women |
| UDYAM Registration | Free and online process for MSMEs |
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Benefits of the BOB Swavalamban Business Loan Yojana
The biggest feature of these schemes is that they are designed to be extremely simple and flexible to promote women-led businesses. Baroda Mahila Swavalamban, in particular, is ideal for women who want to take bigger steps in business. With UDYAM and GST registration, women only have to meet the condition of 51% stake, which makes it even more accessible.
Compared to other schemes like Mudra Loan and Cent Kalyani, these schemes of Bank of Baroda are more beneficial for large-scale businesses. However, schemes like Mudra Loan and PNB Mahila Udyami can be more useful for small businesses. Now women just have to choose the right scheme and move towards realizing their dreams.
Comparison with other schemes
Now the question arises that how does a scheme like Baroda Mahila Swavalamban stand against other popular schemes in the market like Mudra Loan, Cent Kalyani, and Stand-Up India. Let us compare these schemes.
Cent Kalyani (Central Bank of India)
This scheme is specially designed for women and its terms are quite attractive. The interest rate ranges from 8.70% to 8.95%, and the loan amount up to ₹1 crore is available without any collateral. The best part is that the processing fee in this scheme is absolutely zero, which makes it affordable.
- Interest Rate: 8.70% to 8.95%.
- Loan Amount: Up to ₹1 Crore.
- Processing Fee: Nil.
- Collateral: Not required.
Mudra Loan (PMMY)
Pradhan Mantri Mudra Yojana is a great option for small and new businesses. It offers loans up to ₹10 lakh without collateral and the interest rate is quite concessional. The Mudra Loan scheme comes in three categories—Shishu, Kishor, and Tarun—to meet the needs of different businesses.
- Loan amount: Up to ₹10 lakh.
- Interest rate: Concessional.
- Collateral: No requirement.
- Categories: Shishu, Kishor, and Tarun.
Stand-Up India
This scheme is especially for greenfield enterprises. Loans ranging from ₹10 lakh to ₹1 crore are available for a period of 7 years. Its main focus is on those starting new businesses, which helps new entrepreneurs a lot.
- Loan amount: ₹10 lakh to ₹1 crore.
- Loan tenure: Up to 7 years.
- Focus: New businesses.
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PNB Mahila Udyami
This scheme, designed to promote women’s businesses, provides loans up to ₹10 lakh at concessional interest rates. The loan tenure is also flexible, giving borrowers an opportunity for easy repayment.
- Loan amount: Up to ₹10 lakh.
- Interest rate: Concessional
- Loan tenure: Flexible.
ICICI Bank Self-Help Group Programme
This scheme is especially for self-help groups (SHGs). In this, loans up to ₹10 lakh are available without any collateral and the repayment period is up to 36 months. This scheme is an excellent option for group businesses.
- Loan amount: Up to ₹10 lakh.
- Loan tenure: 36 months.
- Collateral: Not required.
Comparison Table with another schemes
| Scheme Name | Loan Amount | Interest Rate | Collateral-Free | Repayment Tenure | Processing Fee |
| Baroda Mahila Swavalamban | ₹20 lakh – ₹7.5 crore | Starting at 9.15% | Up to ₹5 crore | Up to 10 years | 50% rebate |
| Cent Kalyani | Up to ₹1 crore | 8.70% – 8.95% | Yes | Flexible | None |
| Mudra Loan | Up to ₹10 lakh | Concessional rates | Yes | Flexible | Minimal |
| Stand-Up India | ₹10 lakh – ₹1 crore | Standard rates | No | Up to 7 years | Standard |
| PNB Mahila Udyami | Up to ₹10 lakh | Discounted rates | Yes | Flexible | Standard |
Conclusion
Bank of Baroda’s Baroda Mahila Swavalamban Yojana can be a strong option for women, especially for entrepreneurs who want to work on a larger scale. But Mudra Loan and Cent Kalyani can prove to be more beneficial for small and medium scale businesses.
So, the next time you think of starting your own business, do not forget to look at these schemes. Because choosing the right plan can take your business to great heights.
