Bank of Baroda has introduced two new schemes to support Micro, Small, and Medium Enterprises (MSMEs): ‘Baroda Mahila Swavalamban’ and ‘Baroda Smart OD’. ‘Baroda Mahila Swavalamban’ is a loan scheme for women-led businesses, offering loans ranging from ₹20 lakh to ₹7.5 crore with competitive interest rates, relaxed margin and collateral requirements, and a maximum repayment period of 10 years. To be eligible, businesses must be UDYAM- and GST-registered with at least 51% ownership by women.
‘Baroda Smart OD’ is a digital overdraft facility for GST-registered businesses, providing short-term working capital finance ranging from ₹50,000 to ₹25 lakh with interest rates starting at 10% per annum and a tenure of 12 months. The scheme uses digital GST data for credit assessment and offers straight-through processing up to the sanction stage. With these schemes, Bank of Baroda aims to support MSMEs, particularly women-led businesses, and young entrepreneurs, promoting sustainable economic growth.