Bank of Baroda Education Loan Student Online Application Form,Interest Rate,Abroad
Bank of Baroda
Contact Number : 044-8283652
WebLink : www.bankofbaroda.com
Rules and Regulations
Baroda Gyan
A loan product specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India. Bank of Baroda extends a helping hand to energize your studies and promote education of the youth.
No processing charges.
No Margin on loans upto 4 lacs.
Free Debit Card.
Terms & Conditions
Courses Eligible :
All Graduation courses.
All Post Graduation courses & Doctorate courses.
Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
Courses like C.A, ICWA, CFA, CS, etc.
Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
Regular Degree/ Diploma courses like Aeronautical, pilot training,
shipping etc., approved by Director General of Civil Aviation/shipping.
Other courses leading to diploma / degree etc. conducted by
colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc.
Courses offered in India by reputed foreign Universities.
Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.
Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.
Student Eligiblity :
Should be Resident Indian.
Secured admission to either of above courses
Coverage of expenses :
Fee payable to college / Institution / University.
Examination / Library / Laboratory Fee.
Fee and other charges payable to hostel.
Purchase of books / equipments / instruments.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
Any other expenses required to complete the course - like study tours, project works, thesis, etc.
Maximum Loan Amount : Rs.10.00 Lacs.
Margin :
Upto Rs. 4.00 lacs :- NIL
Above Rs. 4.00 lacs :- 5%
Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.
Repayment Holiday / Moratorium Period :
Course period + 1 year or 6 months after getting job, whichever is earlier.
Repayment Period :
The loan is repayable in 5-7 years after the above period.
Security :
Upto Rs.4 lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan
amount along with assignment of future income
Rate of Interest :
Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
1% interest concession is provided if interest debited during repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
Baroda Education Loan (w.e.f. 01.01.2009)
Loans upto Rs.4.00 lacs - 2.00% below BPLR i.e. 10.50%.
Loans above Rs.4.00 lacs - At BPLR i.e. 12.50%.
Baroda Scholar:
Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...
Terms & Conditions
Eligiblity of Courses :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.
Student Eligiblity :
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Coverage of expenses (for overseas studies) :
Admission/Tuition fees to College/University.
Hostel/Mess charges.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments.
Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.
One way travel expenses/Passage money.
Purchase of computers if essential for completion of the course.
Any other expense required to complete the course e.g. study tour, project work, thesis etc.
Maximum amount of loan : Rs. 20.00 Lacs.
Margin : 15%
Repayment Period :
Repayment Holiday/Moratorium Period :
Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is repayable in 5-7 years after the above period.
Security :
Upto Rs.4.00/- lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan
amount along with assignment of future income
Rate of Interest :
Simple interest during repayment holiday/moratorium period.
1% interest concession, if interest debited during the repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.
Baroda Education Loan
Loans upto Rs.4.00 lacs - 2.00% below BPLR i.e. 10.00%.
Loans above Rs.4.00 lacs - At BPLR i.e. 12.00%
Contact for Branches: http://www.bankofbaroda.com/branchlocator.asp
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