Bank of Baroda

Education is, no doubt, a great investment everyone prefers to make. There are a large number of people in the country, who depends on bank loan to carry on higher studies. Bank of Baroda has also come up with various schemes such as Baroda Vidya, Baroda Gyan and Baroda Scholar that can help you in planning the finance for your education.


Baroda Vidya: Provided to parents of students pursuing school education. These loans are available for studies from Nursery to Senior Secondary School.

• No processing & documentation charges.
• No Margin.
• No security required.

The loan is designed to cover following:

• Fee payable to college / school.
• Examination / Library / Laboratory Fee.
• Fee and other charges payable to hostel.
• Purchase of books / equipments / instruments / uniforms.
• Personal Computers / Laptops wherever required.
• Caution deposit / building fund / refundable deposit supported by institutions bills / receipts.

Eligibility:

• Should be an Indian national residing in India.
• Student should have secured admission to a recognized school / High School / Jr. College (including CBSE / ICSE / State Board) for any of the following courses

Maximum Loan Amount: Rs.4.00 Lacs

Repayment Period:

• Loan for each yearly sub limit is repayable in 12 equal monthly installments. First installments to be due 12 months after first disbursement of each year's loan component.
• The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.

Security: In case the loan is given for purchase of computer the same is to be hypothecated to the bank.
 

Baroda Gyan: Provided for 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. There is no processing charges and no Margin on loans upto 4 lacs. Further, the bank also provides Free Debit Card to the students.

Courses Eligibility:

• 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 Eligibility:

• 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 along with 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.

Baroda Scholar: Students going abroad for Professional / Technical studies can apply for this loan.

Eligibility 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 Eligibility:

• Should be an Indian National.
• Secured admission to Professional/Technical Courses at foreign 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/receipts.
• 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: Course period + 1 year or 6 months after getting job, whichever is earlier.

The student 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 along with 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

For current interests rates, please visit bank’s website. www.bankofbaroda.com