Bank of Baroda – Education Loan Scheme – 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 realise your dreams… Achieve your goals… Reach out to the maximum limits…
Terms & Conditions
Eligiblity 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 Eligiblity :
- 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 :
- 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.
- PRESENT RATE OF INTEREST: CLICK HERE.
PROCESSING CHARGES: (CLICK HERE FOR DETAILS)
For further details, please contact the Bank of Baroda Branch nearest to you.
Source : Bank of Baroda