Bank Of Baroda Education Loans, Bank Of Baroda Educational Loan, Education Loan from Bank Of Baroda, Students Study 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

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 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