Bank announces Financial Results for quarter ended, 30th June 2024.
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Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.
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Bank of Baroda deposit plans offer convenient solutions to both working individuals as well as senior citizens. These deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits.
An account for all. B3 Silver Account comes with maximum savings and zero Quarterly Average Balance (QAB). Also, make the most of coins and annual offers from Loyalty Rewardz to fulfill yearlong subscriptions and shopping.
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A right career begins with a right education.
Loan Amount:
Rate of Interest (%):
Loan Terms (monthly):
Equated Monthly Installment (EMI) will be
This student education loan is available to Indian nationals who have been accepted into India's top educational institutions. The loan amount is determined by Bank of Baroda education loan list of premier institutions – which includes AA, A, B and C.
This student education loan is given to Indian nationals who have secured admission into premier educational institutions in India. The loan amount depends on the categorization of the institute
Full time regular courses conducted by the premier educational institutions:
List of the institutions (List-AA, A, B & List-C)
Floating Rates:
Rate of Interest for Children of defence personal Under Baroda Yoddha education Loan to Students of Premier Institutions (For Studies in India) Scheme is same as Baroda Education loan to students of Premier Institutions (For Studies in India).
Fixed Rates:
Students pursuing graduation, post-graduation, professional and other courses in India.
Need based finance subject to future repayment capacity, based on projected future earning which should commensurate with past placement records and average packages offered to the pass outs of the college.
Course period + 1 year
Note The details of expenses for the entire course period to be obtained from college/institution.
The loan is repayable in maximum 10-15 years after the completion of the moratorium period as mentioned above.
For loans up to Rs. 7.5 Lakhs: Moratorium Period + Maximum 120 instalments
For loans above Rs. 7.5 Lakhs: Moratorium Period + Maximum 180 instalments
Study in India - NIL .
Study abroad - 1.00% of Loan amount (maximum Rs. 10,000) to be recovered upfront which will be refundable on availing (first disbursement) of loan
A non-refundable lump sum amount Rs. 8,500 per property (towards advocate and valuer charges) to be taken upfront in case of all education loan accounts, wherever property is mortgaged.
List AA:
Up to Rs. 40 Lakh No Security Co-obligation of parents/guardian along with assignment of future income of the student for payment of instalments.
Above Rs. 40 Lakh Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
For Institutions in List-A:
Up to Rs. 30 Lakh No Security
Co-obligation of parents/guardian along with assignment of future income of the student for payment of instalments.
Above Rs. 30 Lakh Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
For Institutions in List-B:
Up to Rs. 15 Lakh No Security Co-obligation of parents/guardian along with assignment of future income of the student for payment of instalments.
Above Rs. 15 Lakh Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
For Institutions in List-C:
Up to Rs.10 Lakh No Security Co-obligation of parents/guardian along with assignment of future income of the student for payment of instalments.
Above Rs.10 Lakh Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
For all cases if limit exceeds Rs.80.00 Lakh Security coverage should be 1.25 times
Directly to school/institution/hostel - term wise/year wise, in stages as per the requirement/demand.
Directly to book seller/shop for purchase of books, instruments, equipment.
In case a student does not secure a hostel facility with an educational institute, he may be allowed to make his own arrangement if required. Lodging/boarding charges in such cases to be paid directly to the concerned establishment, after verifying bonafides of the same.
Or
In case where the programmes are being offered by these premier institutions in collaboration with the technology partners like Huges, Times Pro etc., the centres of such technology partners may be treated at par with the Institutions and a branch in the vicinity of the centre of such technology partners can also sanction.
Group credit Life Insurance Cover will be mandatory if Loan amount exceeds Rs.7.50 Lakh.The Cost of Insurance Premium may be financed by Bank by adding the same in the project cost and shall be recovered along with EMIs of the loan. Alternatively, student can provide any term insurance plan obtained from any IRDA approved insurance Company.
Frequently Asked Questions (FAQs)
Bank of Baroda education loan is for students who have secured admission into one of the premier educational institutions in India or aboard with preferential treatment.
Yes. We do offer collateral-free education loans for premier institutions.
We offer 2 seamless options for educational loans.
Any Indian citizen can obtain an educational loan at premier institutions. In case, the student was a minor while the parents took a loan, the bank shall ask for a letter of ratification from him or her upon attaining a majority.
Yes. If the institute falls under the categories of AA, A, B, or C, then the student shall proceed to apply for the loan.
Indian institutes: up to Rs. 80 lakhs. International institutes: up to Rs. 150 lakhs.
You can view the rates of interest at the link below:
https://www.bankofbaroda.in/interest-rate-and-service-charges/retail-loans-interest-rates
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