Bank of Baroda Education Loan Details

• No processing charges.
• No Margin on loans upto 4 lacs.
• Free Debit Card.

• 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.

• Should be Resident Indian.
• Secured admission to either of above courses

• 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 is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.

• 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.

• Upto 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

• 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.
• Baroda Education Loan (w.e.f. 01.01.2009)
  Loans upto Rs.4.00 lacs   -  2.00% below BPLR i.e. 10.50%.
  Loans above Rs.4.00 lacs - At BPLR i.e. 12.50%.   

• Should be an Indian National.
• Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.

• 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.

• 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.

• 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

• 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.

Contact for Branches: http://www.bankofbaroda.com/branchlocator.asp Contact Number  : 044-8283652WebLink  : www.bankofbaroda.com