How To Get Education Loan In Bank of Baroda Complete Details | बैंक ऑफ बड़ौदा में शिक्षा ऋण कैसे प्राप्त करें पूरी जानकारी

Educational Loans - Bank of Baroda

Educational Loans – Bank of Baroda Education is the most important investment in life. Additional financial support is required from time to time for higher studies and specialization in certain fields.

The following loan options are available:

Baroda Vidya
Baroda Gyan
Baroda Scholar

Baroda Vidya – Educational Loans – Bank of Baroda

Bank of Baroda presents a one of its kind finance option for the parents of school going students. These loans are available for education from nursery to senior secondary school.

  • No processing and documentation charges.
  • No margin.
  • Security is not required.

Terms & Conditions

Eligibility :

  • Must be an Indian citizen residing in India.
  • The student must have secured admission in a recognized School/ High School/ Junior College (including CBSE/ ICSE/ State Board) for any of the following courses.
  • Stage I : Nursery to Vth Std.
  • Stage II: VI to VIII Std.
  • Stage III: IXth to XIIth Std.
  • Expenses Coverage:
  • Fee payable to the college/school.
  • Examination/Library/Laboratory Fees.
  • Hostel fee and other charges payable.
  • Purchase of books/instruments/equipment/uniforms.
  • Personal Computer/Laptop wherever required.
  • Backed by bills/receipts of security deposit/building fund/refundable deposit institution.

Maximum Loan Amount

Rs.4.00 Lacs

Repayment Period 

The loan is repayable in 12 equated monthly installments for each annual sub-limit. The first installment will be due 12 months after the first disbursement of the loan component of each year.

Except in the case of transferable job, the parents should be residing in that place for a minimum period of -3- years.

Security 

If the loan is given for purchase of computer, the same will have to be hypothecated to the bank.

Rate of Interest 

1% rebate in interest rate on loans for girl students.
Interest is to be paid, if applicable, during the moratorium period.
2% penal interest on the overdue amount if the loan amount exceeds Rs. 2/- lakh.

Baroda Gyan – Educational Loans – Bank of Baroda

A loan product specially designed for students pursuing graduation, post-graduation, professional and other courses in India. Bank of Baroda extends a helping hand to boost your studies and promote the education of youth.

  • No processing fee.
  • No margin on loans up to Rs 4 lakh.
  • Free Debit Card.

Terms & Conditions

Courses Eligible :

  • All undergraduate courses.
  • All postgraduate courses and doctoral courses.
  • Vocational courses viz. Engineering, Medicine, Agriculture, Veterinary, Law, Dentistry, Management, Computer, Ayurveda, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology etc.
  • Computer Certificate Courses from reputed institutes recognized by the Department of Electronics or affiliated to Universities.
  • Courses like CA, ICWA, CFA, CS etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT etc.
  • Regular degree/diploma courses like aeronautics, pilot training,
  • Shipping etc., approved by the Directorate General of Civil Aviation/Shipping.
  • Other courses for 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 from Institutions approved by State / Central / Government / UGC / AICTE / AIBMS / ICMR / ICAR.
  • Courses offered by National Institutes and other reputed private institutions. The college/institution should be approved by the State/Central Government/UGC/AICTE, etc.

Student Eligibility

Must be resident Indian.

Secure admission in any one of the above courses

Coverage of expenses

  • Fee payable to the College/Institute/University.
  • Examination/Library/Laboratory Fees.
  • Hostel fee and other charges payable.
  • Purchase of books/instruments/equipment.
  • Personal Computer/Laptop wherever required.
  • Backed by bills/receipts of security deposit/building fund/refundable deposit institution.
  • Any other expenses required to complete the course – such as study tours, project work, thesis, etc.

Maximum Loan Amount 

Rs.10.00 Lacs.

Margin

Upto Rs. 4.00 Lakh :- Nil

Above Rs. 4.00 Lakh :- 5%

Margins are to be contributed on proportionate basis on year to year basis whenever the disbursement is availed.

Repayment Holiday / Moratorium Period 

Course duration + 1 year or 6 months after getting the job, whichever is earlier.

Repayment Period

The loan is repayable in 5-7 years after the above period.

Security 

  • Up to Rs.4 Lakh : No Security
  • 4.00 lakh and above Rs. 7.5 lakhs: collateral as suitable third
  • Party guarantee with assignment of future income.
  • Above Rs.7.5 lakh: Tangible collateral security equal to 100% of the loan
  • Amount with assignment of future income

Rate of Interest 

Simple interest will be charged at monthly intervals during the repayment holiday / moratorium period.

1% interest concession is provided if the interest debited is paid during the repayment holiday.

1% rebate in interest rate on loans for girl students.

Penal interest @ 2% p.a. on overdue amount, if loan amount exceeds Rs.4.00 lakh.

Baroda Scholar – Educational Loans – Bank of Baroda

Bank of Baroda provides financial assistance to students going abroad for vocational/technical studies. The loan offer is designed to empower you with the financial capability to make your dreams come true… Achieve your goals… Reach the maximum…

Terms & Conditions

Eligibility of Courses

Graduate/Post Graduate/Doctoral/Job oriented professional/technical courses offered by reputed universities abroad.

Regular degree/diploma courses like aeronautics, pilot training, shipping etc. The institute should be recognized by the competent local aviation/shipping authority and the Director General of Civil Aviation/Shipping in India.

Student Eligibility 

Must be an Indian citizen.

Secure admission to professional/technical courses in foreign universities/institutions.

Coverage of expenses (for overseas studies) 

College/University admission/tuition fee.
Hostel/mess charges.
Examination/Library/Laboratory Fees.
Purchase of books/instruments/equipment.
Caution Deposit/Building Fund/Refundable Deposit backed by Institution Bills/Receipts.
One-way travel expenses/passage money.
Purchase of computer, if necessary, for completing the course.
Any other expenses required to complete the course eg. Study travel, project work, thesis etc.

Maximum amount of loan 

Rs. 20.00 Lacs.

Margin

15%

Repayment Holiday/Moratorium Period 

Course duration + 1 year or 6 months after getting the job, whichever is earlier.

The loan is repayable in 5-7 years after the above period.

Security 

  • Up to Rs.4.00/- Lakh : No Security
  • 4.00 lakh and above Rs. 7.5 lakhs: collateral as suitable third
  • Party guarantee with assignment of future income.
  • Above Rs.7.5 lakh: Tangible collateral security equal to 100% of the loan
  • Amount with assignment of future income

Rate of Interest 

Simple interest during the repayment holiday / moratorium period.

1% interest concession, if interest debited during repayment holiday is serviced.

1% rebate in interest rate on loans for girl students.

Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lac.

For further details, click here for more details.

LATEST POSTS

Leave a Comment

Your email address will not be published.