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For Your Bravery and Honour
Baroda Yoddha Education Loans (all variants)
| 1. | Name | Baroda Yoddha Education Loans (all variants) |
| 2. | Eligibility | For wards of defence personnel |
Special interest rates for children of Defence personnel under Baroda Yoddha Education Loan Scheme:
| Product | Existing Rate of Interest (%) | |
|---|---|---|
| Education Loan to Students of Premier Institutions and Executive Development Programmes for study in Premier Institutions for Domestic Study | AA category | BRLLR |
| A Category | BRLLR | |
| B Category | BRLLR + 0.50 | |
| Premier C | BRLLR + 0.75 | |
| Baroda Gyan | BRLLR + 1.10 | |
| Baroda Scholar-Premier | ||
| Baroda Scholar-Non Premier | ||
| Executive Development Programmes for study abroad (Premier Institutions) | ||
Special concession in ROI @ 0.50% for female students is available.
Additional Risk Premium @ 0.10% (All Education loans above Rs 7.50 lakhs) over the above rates would be applicable for customers not obtaining Group Credit Life/ Life Insurance cover to the extent of the loan amount.
Further, there are 12-colleges/Institutions as under governed by “Army Welfare Education Society”. For study in these institutes, Loan to children of defence personal to be considered with following relaxation in parameters.
| Institutes | ||
|---|---|---|
| Army Institute of Technology, Pune | Army Institute of Fashion and Design, Bengaluru | Army College of Dental Sciences, Secunderabad. |
| Army Institute of Management and Technology (AIMT), Greater NOIDA | Army Institute of Education (AIE), Greater NOIDA | Army College of Nursing (ACN), Jalandhar Cantt |
| Army Institute of Management, Kolkata | Army Institute of Law (AIL), Mohali | Army Institute of Nursing (AIN), Guwahati |
| Army Institute of Hotel Management and Catering Technology, Bengaluru | Army Law College (ALC) Pune, Kanhe, Pune | Army College of Medical Sciences, Delhi Cantt |
Parameters:
| Parameters | |||||||
|---|---|---|---|---|---|---|---|
| Security | Unsecured: Rs 25.00 lacs | ||||||
| ROI |
|
||||||
| Process Charge | NIL | ||||||
| Margin | NIL |
All other guidelines and criteria shall be remain unchanged.
- Operating units to explore opening of Salary account for the defence personnel with our Bank.
- The students would mandatorily open the savings account with the Bank.
- Mandatory GCLI for the students seeking unsecured loan for taking admission in AWES institutions
- Assignment of Term Life policy of Defence Personnel/Co-applicant in favor of the Bank to be explored
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