Bank of Baroda Education Loan

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With Bank of Baroda you can avail one of the following options of loan. Baroda Gyan Baroda VIdya Baroda Scholar Educational loan from Baroda for and vocational training / education.

Bank Name	Amount of Loan	Repayment Tenure	Interest Rate
	4 - 20 lacs	1 - 15 years	0.25 - 2.50 %

Baroda Vidya

This is the educational loan for the students studying in schools. The eligibility criterion is that the applicant should be Indian and admission in any one of the various recognized secondary schools. The parent of the applicant should be residing there for a period of 4 years at least. The loan is granted for the students of nursery to 12th standard.

Amount

Maximum amount of loan that can be granted is 4 Lac only.

Expenses considered for loan

The funds are given that can be paid to school / library / examination / laboratory etc. funds are also granted for purchasing of required books / computer / equipment which are necessary for the course.

Repayment period

Repayment is done in 12 equal EMIs in a year.

Baroda Gyan

This is the loan for graduation / post graduation / technical / professional courses in India. All graduation / post-graduation and doctoral courses students are eligible. The applicant is supposed to eligible if he / she prove to be the Indian resident and shows the admission in any of the above mentioned courses. The loan amount is supposed to cover the fee payable at college and the fee which might be required for pursuing the course as per the guidelines of the university itself.

Amount of Loan

Maximum 10 lacs

Margin

Nil upto 4 lacs, 5% is applicable on the amount above than 4 lacs.

Repayment period

Borrower can repay in 5 to 7 years. Moratorium period is also given for repayment.

Security

Third party security is taken for loan of 7 Lac and tangible security equal to 100 % amount of loan is taken for loan of greater than 7 Lac.

Interest rate

Rate of interest is changeable as per the policies.

Baroda scholar

The scheme is aimed to those aspirants of India who want to go abroad for any of the courses either technical or professional. He / she should have got admission in graduate / doctorate / post-graduate job-oriented courses abroad.

Expenses considered for loan

The amount of scholarship is supposed to fulfill all the basic requirement of the student who want to study abroad they include tuition fee / hostel fee etc.

Amount limit

Maximum limit is 20 Lac

Margin

Margin is 15 %

Repayment period

Borowwer can repay in 10 years for loan upto 7.50 lacs and 15 years for more than 7.50 lacs.

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

Educational loan from Baroda for and vocational training / education

The educational loan scheme for vocational training and education is for those who want to pursue the vocational course from some of the recognized institute.

Loan amount

1	For courses of duration upto 3 Months	Rs.20000/
2	For courses of duration >3 months and upto 6 months	Rs.50000/
3	For Courses of duration >6 months to 1 year	Rs.75000/
4	For courses of duration above 1 year	Rs.150000/

Margin

Nil

Repayment period

Loans uptoRs 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

The scheme for Interest subsidy on education loan

For higher studies of economically weaker students on technical and professional courses Indian government, MHRD and department of higher education India has taken the initiative to support them financially so that they can grow and develop their careers. The specialty of this loan is that it provides interest subsidy for the moratorium period.

Rate Interest

Loans upto Rs.4.00 lacs	Base Rate + 2.50%
Loans above Rs.4.00 lacs and uptoRs 7.50 lacs	Base Rate + 2.50%
Loans above Rs.7.50 lacs	Base Rate + 1.75%
Baroda Education Loan to students of Premier Institutions	For List-A Institutions:
(No special concession for girl students under this scheme.)	Upto Rs.15.00 Lacs : Base Rate + 0.25%
	Above Rs.15.00 Lacs : Base Rate .

	For List-B Institutions:
	Upto Rs.7.50 Lacs : Base Rate + 0.75%
	Above Rs.7.50 Lacs: Base Rate + 0.50%
Baroda Education Loan for Vocational Education & Training	Base Rate + 2.00%

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K.R. Mangalam University, Gurgaon