Bank of Baroda offers education loan to students willing to continue their higher education in India or abroad. The various loan options provided by Bank of Baroda are Baroda Vidya, Baroda Gyan and Baroda Scholar. Scroll down the page to learn more about Bank of Baroda education loan. 

BARODA VIDYA

It is an education loan scheme offered to the parents of students undergoing school education. These loans are provided for studies between Nursery and 12th standard. Processing and documentation charges, margin and security are not required for taking loans under this scheme. However, the candidates are required to meet certain criteria for getting the loans. He or she has to be an India national who resides in India. Students are required to take admission in a recognized school, high school or junior school. The maximum loan amount offered is Rs. 4 lacs. 

BARODA GYAN

It is a loan scheme specially meant for the students pursuing undergraduate, postgraduate, professional and other type of courses in India. 

Eligible Courses

• All undergraduate and postgraduate courses. Loans are also provided for doctorate programs.
• Professional courses in areas like fashion technology, engineering, event management, agriculture, mass communication, medical, architecture, agriculture, hospital management, veterinary, hotel management, interior designing, management and others. Certificate courses in computer offered by reputed institutions certified under the Department of electronics or institutions which are affiliated to universities.
• Programs that are offered by XLRI, IIM, NIFT, IISC, IIT, diploma and degree courses and ICWA, CA, CS, CFA other courses.
• Diploma and degree courses offered by various colleges and universities which are approved by UGC, AICTE, ICMR, Govt., AIBMS and others.
• Courses, which are conducted by renowned foreign universities in India.
• Evening courses offered by institutes, which are approved by reputed associations or courses, which are conducted by reputed national and private institutions.

Eligibility Required for Students

Students should be Indian nationals residing in India. Applications will be considered eligible for the loan if they have received admission through entrance test for merit based selection procedure. The maximum loan offered is 10 lacs. 

BARODA SCHOLAR:

It is offered to the students willing to go abroad for pursuing their technical and professional studies. The various courses eligible for this loan are graduate, doctorate, post graduate, technical courses and professional courses offered by renowned universities. Candidates seeking loans need to be Indian Nationals. The maximum amount of loan offered is Rs. 20 lacs. 

Related Pages-

 In order to learn more about rate of interest and required documents browse throughhttp://www.bankofbaroda.com/

• Vijaya Bank Students Loans

Allahabad Bank Education Loan Scheme
Eligibility Criteria:

(a) Student eligibility:

• Student be an Indian National
• Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.

(b) Courses Eligible:

Studies in India

• Graduation Courses- B.A, B.COM, B.Sc. etc.
• Post Graduation Courses: Masters Courses, Ph D, etc.
• Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
• Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
• Courses like- ICWA, CA, CFA 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, if the course pursued abroad, the Institute should be recognised by the competent local aviation/ shipping authority.
• Courses offered in India by reputed foreign universities.
• Evening Courses of approved Institutes.
• Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.

Studies Abroad:

• Graduation: For Job oriented professional/technical courses offered by reputed Universities.
• Post Graduation: MCA, MBA, MS etc.
• Courses conducted by CIMA London, CPA in USA etc.
• Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.

Expenses Considered for Loan

• Fee payable to College / School /Hostel
• Examination/Library/Laboratory Fee
• Purchase of Books / Equipments/ Instruments/ Uniforms.
• Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.
• Travel Expenses/Passage Money for studies abroad.
• Purchase of Computers essential for completion of the course.
• Insurance premium for student borrower.
• Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.

Margin

• For loan upto Rs 4.00 lacs: NIL
• For loan above Rs 4.00 lacs: 
  (i) Studies in India: 5%
  (ii) Studies abroad: 15%
• Scholarship / Assistantship to be included in Margin.
• Margin Money to be brought on year-to-year basis and disbursements are made on a pro-rata basis.

Rate of Interest:

*ISB means Indian School of Business, Hyderabad
Girl students may be provided a special relief of 1.00% in all cases as above.

Application of Interest:

Simple interest during moratorium period. 
Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.

Repayment:

Repayment Holiday / Moratorium is Course Period + 1 year  or 6 months after getting job, whichever is earlier.

Loan to be repaid within a maximum period of 7 years after commencement of repayment.

Security:

For IIT/IIM/ISB*

For loan upto Rs 10.00 lacs- No collateral security is required. co-obligation* of parents/ guardian required

*ISB means Indian School Business, Hyderabad

For others

For loan upto Rs 4.00 lacs: No collateral security is required. co-obligation* required For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Satisfactory third party guarantee & Co-obligation* required.

For loan above Rs 7.50 lacs: (a) Co-obligation * of parents/ guardian together with tangible collateral security of suitable value covering full loan amount, alongwith the assignment of future income of the student for payment of installments.

*(The loan documents would be executed by both the student and the parent/ guardian as joint-borrower i.e. co-obligator. The co-obligation should be parent / guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law.)

Processing Fee:

Processing Fees/ Documentation Charge:

For studies in India- Nil
For studies abroad -Rs.500/- upfront subject to the conditions that this amount would be adjusted against the loan amount once the loan is availed from us.

Mortgage Charges:

Actual expenses, if any, will be borne by the Student/Parent or Guardian.

Delivery Channel

From all of our branches (Presently more than 2150) spread throughout the country.
On-line sanction for leading 250 institutions within 72 hours.

Value added Service

FREE Debit Card
-For SB account holders in networked branches.

Insurance:

Group Life Insurance Cover 
-For entire loan liability in tie-up with LICI
(One time upfront premium, can also be financed by adding into project cost.), Prospective borrowers, who are not covered under the group insurance scheme, will be allowed to take a single premium term insurance cover equal to the loan amount, individually on their own or premium being a component of project cost for financing.

Others

1. The parent / guardian would become co-borrower with the student and application for education loan will also be signed by the parent / guardian alongwith the student while availing loan under Educational Loan Scheme.
2.  Education Loan would preferably be sanctioned through branches / RBBs nearest to the place of residence of parents.
3. Second time education loan is available for higher studies / escalation of cost.

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