Bank of Baroda

Bank of Baroda’s Educational Loan - Baroda Scholar

Objective of the Scheme:

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 reach your goal.

Eligibility of the Student:

Should be an Indian National.

Secured admission to Professional / Technical Courses at foreign Universities / Institutions.

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.

Liability of Finance:

Expenses allotted for the Loan ( 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.

Maximum amount of loan: Rs. 20.00 Lacs

Margin : 15%

Moratorium :

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

Rate of Interest :

  • Simple interest during repayment holiday / moratorium period.
  • 0.50% Concession in rate of interest to loans for girl student.
  • Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

Repayment Period of the Loan :

  • Repayable in 120 maximum Installments for loan amount Upto Rs 7.50 lacs
  • Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

For more Details, Kindly refer the following link:

http://www.bankofbaroda.com/pfs/scholar.asp

Bank of Baroda’s Educational Loan - Baroda Vidya

Objective of the Scheme:

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.

Eligibility of the Student:

Should be an Indian national residing in India.

Student should have secured admission to a recognized school / High school / Jr. College ( including CBSE / ICSE / State Board ) for any of the following courses

  1. Stage I : Nursery to V th STD.
  2. Stage II : VI th to VIII STD.
  3. Stage III : IX th to XII th STD.

Liability of Finance:

Expenses allotted for the Loan :

  • 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.

Margin : NIL

Moratorium : NIL

Processing Fee / Mortgage Charges : NIL

Maximum Loan Amount : Rs.4.00 Lacs

Rate of Interest :

  • 0.50% 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.

Repayment Period of the Loan :

  • 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.

For more Details, Kindly refer the following link:

http://www.bankofbaroda.com/pfs/vidya.asp

Bank of Baroda’s Educational Loan - Baroda Gyan

Objective of the Scheme :

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.

Eligibility of the Student:

  • Should be Resident Indian.
  • Secured admission to either of above courses
  • A meritorious student ( who qualifies for a seat under merit quota ) will also be eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.
  • or courses under Management Quota Seats considered under the scheme, fees as approved by the State Government / Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
  • Additional concession of 1.00% to the students who have sought admission in premier institutions viz. IIMs, IITs, IIFT, AIIMS, AFMC , ISB, NITs, XLRI, MDI, SPJIMR, IISC, SPJIM

Eligible Courses:

  • All Graduation courses.
  • All Post Graduation courses & Doctorate courses.
  • Professional Courses
  • 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.

Liability of Finance :

Expenses allotted for the Loan :

  • 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.

Margin :

  • Upto Rs. 4.00 lacs :- NIL
  • Above Rs. 4.00 lacs :- 5%

Moratorium :

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

Processing Fee / Mortgage Charges: NIL

Rate of Interest:

  • Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
  • 0.50% 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.

Repayment Period of the Loan :

  • Repayable in 120 maximum Installments for loan amount Upto Rs 7.50 lacs
  • Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

For more Details, Kindly refer the following link :

http://www.bankofbaroda.com/pfs/gyan.asp

To download Application Form, Visit the following link :

http://www.bankofbaroda.com/download/education_loan_new.pdf

 

 

Bank of Baroda’s Educational Loan for Vocational Education & Training

Objective of the Scheme :

Bank of Baroda presents financial assistance to students doing Vocational Education courses. The loan offering is designed to empower you with the financial capability to reach your goal.

Eligibility of the Student :

  • The prospective borrower should be an Indian National 
  • The Student should not be minor
  • The Student should have secured admission in a course approved / supported by  a Ministry / Deptt / Organization of the Govt or a Company / Society / Organization supported by National Skill development Corporation or State Skill Missions / State Skill Corporation leading to a certificate /diploma /degree etc. by Govt. Organization or an Organization recognized /authorized by Govt to do so.

Eligible Courses:

Vocational / Skill development courses of duration from 2 months to 3 years run or supported by a Ministry / Deptt / Organization of the Govt or a company / society / organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations, preferably leading to a certificate / diploma / degree etc. issued by a Government Organization or an organization recognized / authorized by the Govt. to do so. State Level Bankers committee ( SLBC ) / State level Co-ordination Committee ( SLCC )  may add other skill development courses /programmes, having good employability

Liability of Finance :

Expenses allotted for the Loan :

  • Tuition  fee / Course fee
  • Examination / Library / Laboratory fee
  • Caution Deposit
  • Cost of Books / Equipments and Instruments
  • Any other reasonable expenditure found necessary for completion of the course.

Quantum of Finance:

For courses of duration Upto 3 Months

Rs.20000/

For courses of duration >3 months and Upto 6 months

Rs.50000/

For Courses of duration >6 months to 1 year

Rs.75000/

For courses of duration above 1 year

Rs.150000/

Margin : NIL

Processing Fee / Mortgage Charges : NIL

Rate of Interest:

Base rate plus 2% i.e. 12.50%

For girl students -  1% Interest Concession

Repayment Period of the Loan :

Repayment of loan will commence after a period of 6 months from the completion of course of maximum 1 year duration. Whereas for courses of duration of more than 1 year, Repayment will commence after a period of 12 months from the completion of course. Maximum Repayment period will be as under:

  • Loans Upto Rs 50,000 : Upto 2 Years
  • Loans between Rs 50,000 to Rs 1 lac : 2 to 5 Years
  • Loans above Rs 1 lac : 3 to 7 Years

For more Details, Kindly refer the following link :

http://www.bankofbaroda.com/pfs/EdLoanVC.asp

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