Bank of Baroda Student Education Loan Scheme
Following are the loan options available:
- Baroda Vidya
- Baroda Gyan
- Baroda Scholar
1. Baroda Vidya
Bank of Baroda presents a one of its kind finance option for 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.
Terms & Conditions
Eligibility:
- Should be an Indian national residing in India.
- Student
should have secured admission to a recognized school / Highschool / 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.
Coverage of expenses for :
- 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 institution bills / receipts.
Maximum Loan Amount: Rs.4.00 Lacs
Repayment Period:
Loan for each yearly sub limit is repayable in 12 equal monthly
installments. First installment 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.
Rate of Interest:
1% concession in rate of interest to loans for girl students
Interest to be serviced as and when applied during moratorium period.
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.
2.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 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:
Up to 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:
- Up to 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.
3. 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 realize 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.
Student Eligibility:
- 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:
- Up to 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.