Public Sector Bank (PSU)Working Capital Facility (CC / OD)Micro Enterprise (Investment ≤ ₹1 Cr)🛡️CGTMSE CoveredVerified: 2026-09-29

Bank of India Star MSME E-Mudra Loan

Primary Lending Institution:Bank of India

Up to ₹1 Lakh MSME credit at 8.50% – 9.75% with Up to 3 years tenure.

Interest Rate8.50% – 9.75%Linked to EBLR / MCLR / Risk

Loan Amount QuantumUp to ₹1 LakhBased on turnover & project cost

Repayment TenureUp to 3 yearsWith moratorium where applicable

Collateral SecurityRestricted to existing Bank of India account holders with Aadhaar-linked mobile.

What's Missing: Crucial Fine-Print & Exclusion Gaps

Restricted to existing Bank of India account holders with Aadhaar-linked mobile.

Note: Eligo publishes these regulatory and commercial exclusions directly from bank product guidelines and CGTMSE rules to protect MSME applicants from unexpected fee debits or loan rejection surprises.

What is Bank of India Star MSME E-Mudra Loan?

Instant digital micro-credit facility on BOI mobile banking and portal for existing savings/current account holders.

Key Benefits & Features

Instant digital sanction in minutes; zero physical paperwork; zero processing fees.

Government Subsidy & Credit Guarantee Coverage

CGTMSE / Bank Guarantee / Normal Security

Enterprise Eligibility Criteria

Small business owners maintaining active BOI accounts.

Business VintageNew & Existing units eligible

Min. Annual TurnoverTurnover proportionate

Processing FeeNil

Prepayment TermsZero prepayment penalty on floating rate loans as per regulatory norms

How to Apply (3 Verified Paths)

💼Path 1: Current Account Portal

Apply online via business net banking or approach loan account manager.

🌐Path 2: Official FinTech / Govt Portal

Apply online at https://bankofindia.co.in/star-msme-e-mudra with digital KYC and financial statements.

🏢Path 3: SME Banking Center Walk-In

Visit nearest MSME branch of the institution with business registration and bank statements.

Eligo does not collect business loan applications or financial data. Apply directly on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Udyam Registration Certificate, PAN, Aadhaar, Last 2 years ITR and financial statements, 12 months GST returns, 6 months bank statement.

Frequently Asked Questions

What is the maximum loan tenure and amount for Bank of India Star MSME E-Mudra Loan?

Borrowers can avail Up to ₹1 Lakh with a repayment tenure of Up to 3 years.

What are the processing charges and collateral terms for Bank of India Star MSME E-Mudra Loan?

The processing fee is Nil. Collateral terms: Restricted to existing Bank of India account holders with Aadhaar-linked mobile.

What are the eligibility criteria for Bank of India Star MSME E-Mudra Loan?

Small business owners maintaining active BOI accounts. Minimum business vintage required is 0 year(s).

How can an applicant apply for Bank of India Star MSME E-Mudra Loan?

Apply online at https://bankofindia.co.in/star-msme-e-mudra or visit nearest branch with KYC, Udyam registration, and bank statements.