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Education Loan EMI Calculator
Rate of Interest (%):5%15%
Loan Terms (monthly):12180
Equated Monthly Installment (EMI) will be
Interest rates & charges
Most Important Terms and Conditions (MITC)
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Benefits
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Features
A study loan given for executive development programmes abroad. The student must have secured admission in the university and be employed while applying & during the course of study.
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Eligibility
Executive Development Programmes (part time/online programmes/distance learning) being offered by premier institutions abroad, as listed under list of premier institutions (including the programmes offered using the technology platform of Times Pro/Hughes Global Education or any other partners).
- Should be resident Indian.
- Secured admission in The Executive Development Programmes (part time/online programmes/distant Learning programmes) being offered by premier institutions abroad.
- Should be gainfully employed and would continue to be in gainful employment during study.
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Interest rates & charges
BRLLR + 2.10%
Servicing of interest during the moratorium period will be compulsory.
Service Charges (Excluding GST) w.e.f. 20/06/2019:
Study in India - Nil
Study abroad - 1.00% of loan amount(maximum Rs. 10,000) to be recovered upfront which will be refundable on availment (first disbursement) of loan.
Education loan for students of premier institutions (studies in India): Nil
Education loan for vocational education and training: Nil
Career development: 0.50%
- 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.
- No mortgage creation charges for all types of education loans.
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Documents Required
- 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
- Employment Proof
- Bank account statement for last 6 months etc
- Property Documents (if applicable)
Baroda Education Loans for EDP being offered by Premier Institutions Abroad : Most Important Terms and Conditions (MITC)
Students pursuing executive development programmes (part time/online programmes/distance learning) being offered by premier institutions abroad, as listed under list of premier institutions (including the programmes offered using the technology platform of Times Pro/Hughes Global Education or any other partners).
Quantum of finance
Maximum Rs. 80 lakhs
Up to Rs. 4 lakhs: Nil
Above Rs. 4 lakhs: 5%
Repayment Holiday/ Moratorium Period
Course period + 3 Months
Coverage of expenses for
- Fee payable to college/institution/university/hostel/mess charges.
- Examination/library/laboratory fee.
- Purchase of books/equipments/instruments/uniforms/.
- Personal computers/laptops wherever required.
- Caution deposit, building fund/refundable deposit supported by institution bills/receipts, subject to condition that the amount does not exceed 10% of the total tuition fees for the entire course.
- Purchase of computers, if essential for completion of the course.
- Insurance premium for student borrower.
- Any other expenses required to complete the course like study tours, project works, thesis, etc.
- Travel expenses/passage money (to and fro)
- Cost of external coaching/tuition is NOT to be considered.
- Except the living expenses, hostel charges, mess charges, other living expenses and cost of external coaching/tuition.
- As part of the program candidates may be required to travel to the college/institution once or twice during the course period. In such cases, travel expenses (to and fro) and living expenses for attending classes in various centres (India and abroad) would also be considered a part of the total expenses.
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 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
Unified processing charges
- 1.00% of loan amount (maximum Rs. 10,000) to be recovered upfront which will be refundable on availment (first disbursement) of loan. The amount can be refunded to the credit of saving bank account/loan account of the student/borrower.
- A non-refundable lump sum amount Rs. 7,500 per property (towards advocate and valuer charges) to be taken upfront in case of all education loan accounts, wherever property is mortgaged.
Up to Rs. 4 lakhs: Co-obligation of parent. No security.
Above Rs. 4 Lakhs and up to Rs. 7.5 lakhs
- Collateral in the form of a suitable third party guarantee along with assignment of future income.
- The regional authority may, at its discretion, waive third party guarantee in following cases:
- If satisfied with the net-worth/means of the parent who would be executing the document as a joint borrower.
- To support highly meritorious/deserving students who have secured admission in an institution of a high repute, but unable to offer suitable third party guarantee.
Above Rs. 7.5 lakhs
- Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
Directly to school/institution/hostel - term wise/year wise, in stages as per the requirement/demand.
Directly to the 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.
Branch which is in close proximity to the permanent residence of parent/at the place of posting/service of the parent branch.
Servicing of interest during the moratorium period will be compulsory
Does the Bank of Baroda provide education loans for abroad studies?
Yes. Bank of Baroda does provide education loans for students looking forward to studying abroad.
Can I get a 100% loan to study abroad?
Absolutely, yes. Bank of Baroda provides a 100% educational loan to study abroad for institutions specified in the list of premier institutions for that year.
How to apply for an education loan for abroad studies?
What is the objective of the Bank of Baroda education loan to premier institutions abroad?
Bank of Baroda aims to provide financial assistance to the meritorious student aspirant to pursue the course from premier institutes abroad with preferential treatment which includes concessional ROI and relaxed margin norms.
Bank of Baroda aims to provide financial assistance to the meritorious students who seek to pursue a course from premier institutes. Moreover, the students get preferential treatment, concessional rate of interest, and relaxed margin norms.
Why is Bank of Baroda best for education loans abroad?
Bank of Baroda EDP loans provides a competitive rate of interest and maximum repayment tenure of 15 years.
What is the education loan interest rate for abroad?
What is the maximum amount I can get for a student loan to study abroad?
For premier institutes: Rs. 150 lakhs.
For non-premier institutes: Rs. 60 lakhs.
Can I get an education loan for MBBS abroad?
Yes. Bank of Baroda does provide education loans for MBBS aspirants, planning to study abroad.
What are the eligibility criteria for an education loan for abroad studies?
The students are eligible, if:
- They are of Indian nationality.
- The student should have secured admission to professional or technical courses abroad through an entrance test or merit-based selection.