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| Education loans |
Bank of Baroda offers education loan to students who are willing to continue their higher education either in India or abroad. The Various loan options available with Bank of Baroda are Baroda Vidya, Baroda Gyan and Barod Scholar.
Baroda Vidya
Baroda Vidya is the Edycation loan especially for students pursuing school education. These loans are available for studies for Nursery to Senior Secondary School. For which there is No processing & documentation charges, No Margin and No Security required.
Terms & Conditions
Eligibility:
- Must be an Indian National
- Student should have secured admission to a recognized school / high school / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
- Stage I: Nursery to V th STD.
- Stage II: VI th to VIII STD.
- Stage III: IX th to XII th STD.
Board Gyan
Board Gyan educational loan is especially for the students pursing Graduation, Post Graduation, Professional & other courses in India for which there is No processing charges, No Margin on loans upto 4 lacs and free Debit Card.
- No processing charges
- No Margin on loans upto 4 lacs
- Free Debit Card
Term & 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 / ICR.
- Have been approved by the State / Central Govt. / UGC / AICTE, etc.
Student Eligibility :
- Must be India National
- Secured admission to either of above courses
Maximum Loan Amount : Rs. 10.00 Lacs.
Holiday Period
- Course period +1 year or 6 months after getting job, whichever is earlier
- The loan repayable in 5-7 years after the above period
- 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 alongwith 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.
- 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 loan for girl student.
- Penal interest @ 2 % p.a on overdue amount , if the loan amount exceeds Rs. 4.00 lacs
Board 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
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.
- 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.
Margin : 15%
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 alongwith assignment of future income.
- Above Rs. 7.5 lacs : tangible collateral security equal to 100% of the loan amount along 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. 4.00 lacs.
CONTACT DETAILS:
Head Offices
Suraj Plaza-1, Sayaji, Ganj,
Baroda-390005
Phone : (0265) 236 1852
Fax : (0265) 236 2395, 236 1824, 236 1806
Baroda House, P.B. No. 506,
Mandavi, Baroda-396006
Phone : (0265) 2563932
Corporate Centre
Baroda Corporate Centre,
Plot No- C- 26, G - Block,
Bandra - Kurla Complex,
Bandra (East), Mumai - 400051
Phone ; (022) 6698 50000- 04
Fax : (022) 2652 350
Website : www.bankofbaroda.com