Electroencephalography (EEG) is widely researched for neural decoding in Brain Computer Interfaces (BCIs) as it is non-invasive, portable, and economical. However, EEG signals suffer from inter- and intra-subject variability, leading to poor performance. Recent technological advancements have led to deep learning (DL) models that have achieved high performance in various fields. However, such large models are compute- and resource-intensive and are a bottleneck for real-time neural decoding. Data distribution shift can be handled with the help of domain adaptation techniques of transfer learning (fine-tuning) and adversarial training that requires model parameter updates according to the target domain. One such recent technique is Parameter-efficient fine-tuning (PEFT), which requires only a small fraction of the total trainable parameters compared to fine-tuning the whole model. Therefore, we explored PEFT methods for adapting EEG-based mental imagery tasks. We considered two mental imagery tasks: speech imagery and motor imagery, as both of these tasks are instrumental in post-stroke neuro-rehabilitation. We proposed a novel ensemble of weight-decomposed low-rank adaptation methods, EDoRA, for parameter-efficient mental imagery task adaptation through EEG signal classification. The performance of the proposed PEFT method is validated on two publicly available datasets, one speech imagery, and the other motor imagery dataset. In extensive experiments and analysis, the proposed method has performed better than full fine-tune and state-of-the-art PEFT methods for mental imagery EEG classification.