Frequently Asked Questions (FAQs)

Browse By:
Education Loan
  • Education Loan
  • Home Loan
  • Vehicle Loan
  • Akshaya Mahila Arthik Sahay Yojana
  • Loans Advances
  • Securities Lending Borrowing
  • Services
  • 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.

    Was this article helpful? Yes / No

  • What is Education Loan. ?

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

    Was this article helpful? Yes / No

  • 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

    Was this article helpful? Yes / No

  • 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

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • Can a minor get Education Loan?

    Yes

    Was this article helpful? Yes / No

  • Can I take education loan for school fees?

    Yes

    Was this article helpful? Yes / No

  • 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

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • How to apply for Baroda Vidya loan?

    Was this article helpful? Yes / No

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

    NIL

    Was this article helpful? Yes / No

  • 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

    Was this article helpful? Yes / No

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

    Up to Rs.4.00 lakh

    Was this article helpful? Yes / No

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

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

    Was this article helpful? Yes / No

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

    Yes

    Was this article helpful? Yes / No

  • How to apply for Baroda Gyan Loan?

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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)

    Was this article helpful? Yes / No

  • What documents are needed for Baroda Gyan loan?

    yes

    Was this article helpful? Yes / No

  • How much education loan can I get for MBBS?

    Up to Rs.125.00 lakh

    Was this article helpful? Yes / No

  • Can you get a loan for pilot training?

    yes

    Was this article helpful? Yes / No

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

    Up to Rs.125.00 lakh

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

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

    YES

    Was this article helpful? Yes / No

  • What is Baroda Scholar Loan?

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

    Was this article helpful? Yes / No

  • How to apply for Baroda Scholar Loan?

    Was this article helpful? Yes / No

  • 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?

    Was this article helpful? Yes / No

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

    Upt to Rs. 150.00 lakh

    Was this article helpful? Yes / No

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

    No

    Was this article helpful? Yes / No

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

    yes

    Was this article helpful? Yes / No

  • 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.

    Was this article helpful? Yes / No

  • 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 but can go up to 7 years.

    Was this article helpful? Yes / No

  • Can I get education loan for online course?

    yes

    Was this article helpful? Yes / No

  • How to apply for Skill Loan Scheme?

    Was this article helpful? Yes / No

  • Which courses are eligible for education loan?

    Vocational/Skill development courses

    Was this article helpful? Yes / No

  • What is the age limit for Skill Loan Scheme?

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

    Was this article helpful? Yes / No

  • What documents are needed for Baroda Skill Loan Scheme?
    • 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)

    Was this article helpful? Yes / No

  • What is the rate of interest for skill loan scheme?

    Was this article helpful? Yes / No

  • Which students can apply for loan for technical courses?

    Individuals who intend to take up skill development courses as per the Skilling Loan Eligibility Criteria.

    Was this article helpful? Yes / No

  • How can I get skill loan on 10th certificate for technical courses?

    After getting enrolled in Vocational/Skill development courses

    Was this article helpful? Yes / No

  • Can I avail a home loan from Bank of Baroda?
    • Yes, you can avail a home loan from Bank of Baroda, if you plan to construct or purchase a house/flat or extend your existing house/flat and, you are:
      1. A minimum of 21 years
      2. Employed or self-employed with a regular income.

    Was this article helpful? Yes / No

  • What is the average tenure of a home loan?
    • We grant term up to a maximum of 30 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.

    Was this article helpful? Yes / No

  • Who can be co-applicant?
    • The proposed owners of the residential accommodation as per the agreement for sale, in respect of which financial assistance is sought, must be co-applicants. Usually, joint applications are from husband-wife, father-son or mother-son, etc.

    Was this article helpful? Yes / No

  • How much does Bank of Baroda lend?
    • Loan amount is determined on the basis of the repaying capacity of the applicant/s. Repaying capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings, etc.
    • The maximum loan would be Rs.10 crores per unit to any individual applicant based on the area where the property is proposed to be constructed/purchased. We will extend a loan of up to 90% (for newly constructed houses/flat) of the cost of property under our Housing Loan Scheme.

    Was this article helpful? Yes / No

  • For how long a period can I get the loan?
    • We grant a term up to a maximum of 30 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 65 years of age, whichever is earlier.

    Was this article helpful? Yes / No

  • But can I prepay the loan ahead of schedule?
    • Yes, you have the option to prepay the loan ahead of schedule either in parts or in full from your own sources.

    Was this article helpful? Yes / No

  • What is the mode of repayment?
    • Equated Monthly Instalment (EMI): It means a uniform lumpsum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on daily product basis.

    or

    • Fixing the monthly/quarterly instalments on the graduated basis is permitted of EMI as requested by customers.

    Was this article helpful? Yes / No

  • What is the security for the loan?
    • The security for the loan is an equitable mortgage of the property to be financed. The security for the loan is equitable mortgage of the property to be financed.

    Was this article helpful? Yes / No

  • What are the supporting documents required while applying for the loan?

    Common requirements for all applicants.

    • Application form duly filled in (with a photograph of all the applicant).
    • Residence and age verification, which may be established from the PAN Card, Election ID, Passport, Drivers Licence and Ration Card, etc.
    • Copy of approved plan and sanction letter from local civic authority.
    • Copy of NA permission.
    • One/two guarantor/s form/s and salary certificates: If a guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
    • Bank passbook of statements for the last two years.
    • Latest salary slip/statement showing all deductions in case of employed applicants.
    • Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for both company/firm and personal account) for the last three years in case of self-employed applicants.
    • Memorandum/articles of association for companies, partnership deeds for firms and a brief profile of your company/firm in case of self-employed applicants.

    Additional requirement.

    • In case of purchase from builder
    • Copy of agreement for sale.
    • Copy of registration receipt.
    • Copy of sanctioned plan & sanction letter of the competent authorities.
    • Copy of NA permission/ULC order.
    • Copies of receipts of payments already made.
    • NOC from builders in our format.
    • In case of direct allotment in a Co-operative Housing Society
    • Allotment letter.
    • Share certificate. Society registration certificate.
    • Copy of sale/lease deed in favour of the society.
    • NOC from society in our format.
    • Possession letter in original.
    • In case of resale:
    • Copy of all the previous vendors’ agreements duly stamped and registered and the registration receipts. (original to be given before disbursement).
    • NOC from society/builder in our format.
    • Original share certificate.

    Was this article helpful? Yes / No

  • Whether you have any housing loan products for NRIs?
    • Yes. We have housing loan products for NRIs/PIOs. For details, please visit our website at Housing Loans to NRIs /PIOs

    Was this article helpful? Yes / No

  • how to check vehicle loan status online?

    You can log on to your account online by using your credentials on Mobile Banking (BOB WORLD) & Net Banking facility. . After logging in, you'll be able to see your Vehicle loan details and the status of your loan status, You may also contact your nearest Branch for details.

    Was this article helpful? Yes / No

  • how can i check my bike loan details?

    You can log on to your account online by using your credentials on Mobile Banking (BOB WORLD) & Net Banking facility, after logging in, you'll be able to see your Two Wheeler (Bike) loan details and the status of your loan account or visit nearby Branch of Bank of Baroda to know Two Wheeler (Bike) Loan details.

    Was this article helpful? Yes / No

  • how can i check my two wheeler loan status?

    You can log on to your account online by using your credentials on Mobile Banking (BOB WORLD) & Net Banking facility, after logging in, you'll be able to see your Two Wheeler ( loan details and the status of your loan account or visit nearby Branch of Bank of Baroda to know Two Wheeler Loan details.

    Was this article helpful? Yes / No