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Vidya Lakshmi Portal

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

Frequently Asked Questions (FAQs) about

  • Who can apply for the loan?

    Any Indian national fulfilling criteria stated above is eligible for education loan.

  • Who can be co-obligant?

    The parents, guardians, friends and relatives can be co-obligant.

  • How much does Bank of Baroda lend?

    Bank of Baroda extend need based finance subject to repaying capacity of the parents/student with margin up to following ceilings.

    Studies in India - Maximum Rs. 10 lakhs

    Studies abroad - Maximum Rs. 20 lakhs

  • For how long a period can I get the loan?

    We grant a loan for a term of 5-7 years after repayment holiday/moratorium.

  • What is the repayment holiday/moratorium period?

    Course period + 1 year or 6 months after getting a job whichever is earlier.

  • What is the mode of repayment?

    The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalment (EMI) is fixed.

  • Do you offer any concession?

    Yes, we do offer 1% interest concession to the student loanee, if the interest is serviced during the study period when repayment holiday is specified for interest repayment under the scheme. Additionally, 1% interest concession is provided to female students.

  • What type of interest do you charge under your Education Loan Scheme?

    We charge simple interest at monthly rests during the repayment holiday/moratorium period.

  • Do you levy any penalty for default under the scheme?

    Yes, we charge penal interest @ 2% on overdue amount in the loan exceeding Rs. 4 lakhs.

Related products

  • Baroda Vidya

  • Baroda Gyan Loan

  • Baroda Scholar

  • Baroda Education Loan to Students of Premier Institutions

  • Skill Loan Scheme

  • Government of India Interest Subsidy Schemes for Education Loan

  • Baroda Education Loan for EDP being offered by Premier Institutions in India

  • Baroda Education Loans for EDP being offered by Premier Institutions Abroad

  • Higher Education and Skill Development Guarantee Scheme for Pursuing Higher Education in Delhi

Banking Mantra

  • 01 Nov 2019
    Applying for an education loan – the procedure you need to follow
  • 01 Nov 2019
    How to apply for an education loan – a step by step guide

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