Frequently Asked Questions (FAQs)

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  • What are the benefits of taking an education loan from Bank of Baroda?

    Bank of Baroda offers various education loans at attractive interest rates with repayment tenure of up to 15 years. No collateral needs to be provided for loans of up to Rs. 40.00 lakh for the identified premier institutes. Maximum Loam limit is Rs.125.00 lakh for study in India and Rs.150.00 lakh for study abroad.

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  • What is Education Loan. ?

    Education is a form of monetary assistance availed by students to meet the expenses associated with their studies.

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  • How does Education Loan work?

    Opting for an education loan reduces the strain on existing savings and eliminates the need to liquidate the existing investments. The interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961

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  • How to apply for Education Loan Online?

    An education loan can be applied online using bank’s website https://www.bankofbaroda.in/personal-banking/loans/education-loan

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  • Who can apply for the education loan?

    The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad.

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  • How much Education Loan can I get from Bank of Baroda?

    For study in India up to Rs.125.00 lakh

    For study abroad up to Rs.150.00 lakh

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  • How to pay Education Loan?

    The education loan can be paid using any online channel like net banking, mobile banking etc. The Borrower will have also a choice to pay the Education loan by visiting the nearby branch.

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  • What is the interest rate of education loan?

    Starting from BRLLR+0.25 % for study in India & BRLLR+1.75% for study abroad. For Current ROI kindly visit our Interest Rates & Charges page.

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  • Who can be co- applicant for Education Loan?

    Co-applicant should normally be parent(s)/guardian of the student borrower. In case of a married person, joint borrower can be either spouse or the parent(s)/parents-in-law.

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  • What is Baroda Vidya Loan

    This loan is given out for school education in any recognized school. The maximum loan granted is Rs. 4 lakhs and is payable after 12 months from the date of first disbursement in 12 installments.

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  • Can a minor get Education Loan?

    Yes

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  • Can I take education loan for school fees?

    Yes

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  • What are key feature of Baroda Vidya Loan?
    • Loan for School Education (Target Group: Parents of Students pursuing school education from Nursery to Class XII.)
    • No processing charges
    • No documentation charges
    • No margin

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  • What is the minimum age for education loan for minor?

    There is no specific restriction with regard to the age of the student to be eligible for Baroda Vidya Loan.

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  • How to apply for Baroda Vidya loan?

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  • What is the percentage of margin under Baroda Vidya loan?

    NIL

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  • Can one get student loans at the age of 16?

    YES . There is no specific restriction with regard to the age of the student to be eligible for education loan

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  • How much loan can a student get via Baroda Vidya Loan?

    Up to Rs.4.00 lakh

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  • What is the rate of interest for school fee loan?

    BRLLR+SP+ 3.10%
    For Current ROI kindly visit our Interest Rates & Charges page.

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  • Can a guardian take Baroda Vidya education loan for his/her child?

    Yes

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  • How to apply for Baroda Gyan Loan?

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  • What is the age limit for Baroda Gyan loan?

    There is no specific restriction with regard to the age of the student to be eligible for education loan.

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  • What documents are needed for Baroda Gyan loan?
    • KYC of applicant and co-applicants
    • Academic Records
    • Proof of admission
    • Entrance Exam Result(if applicable)
    • Statement of cost of study/ Schedule of expenses
    • Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
    • Bank account statement for last 6 months etc
    • Property Documents (if applicable)

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  • What documents are needed for Baroda Gyan loan?

    yes

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  • How much education loan can I get for MBBS?

    Up to Rs.125.00 lakh

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  • Can you get a loan for pilot training?

    yes

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  • How much education loan can I get for pilot training?

    Up to Rs.125.00 lakh

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  • What is the interest rate of education loan for MBBS?

    Starting from BRLLR+0.25%
    For Current ROI kindly visit our Interest Rates & Charges page.

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  • Does Baroda Gyan Loan scheme provides education loan for post graduation?

    YES

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  • What is Baroda Scholar Loan?

    Baroda Scholar Loan , provides an opportunity to avail education loan for the students going abroad for Professional / Technical studies.

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  • How to apply for Baroda Scholar Loan?

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  • What is the age limit for Baroda Scholar Loan?

    There is no specific restriction with regard to the age of the student to be eligible for Baroda Scholar Loan?

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  • How much loan can a student get via Baroda Scholar Loan?

    Upt to Rs. 150.00 lakh

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  • Is education loan without collateral for abroad available under Baroda Scholar Loan Scheme?

    No

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  • Can I get student loan for MBA/MCA/MS degree abroad?

    yes

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  • What is abroad/foreign education loan interest rate under Baroda Scholar Loan scheme?

    Starting from BRLLR + 1.75
    For Current ROI kindly visit our Interest Rates & Charges page.

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  • What is Skill Loan Scheme?

    This loan is given for students pursuing technical courses offered by training institutes, polytechnics etc. The loan amount ranges from Rs. 5,000 to Rs. 1,50,000. The repayment period depends on the loan amount b