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Bank of Baroda

Bank of Baroda

Overview

Baroda Gyan

An education loan product specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India. Bank of Baroda extends a helping hand to energize your studies and promote education of the youth.

Baroda Scholar

Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams.

 

 

 

Loan Feature

Loan Amount Rs.10 Lac for Study in India and Rs.20 Lac for Study Abroad
Interest Rate 12% to 12.75% per annum; 0.5% concession for girls
Tenure Repayment Holiday / Moratorium Period:Course period + 1 year or 6 months after getting job, whichever is earlier.The loan is repayable in 5-7 years after the Repayment Holiday / Moratorium Period
Pre Payment Charges No Prepayment charges to be levied on the outstanding loan amount.
Service Charges

Processing Charges -

 

Nil for study in India

1% for study in abroad to be recovered upfront, however the amount shall be refunded by way of credit to the loan account on availment of loan.

 

 

Nil for study in India
1% for study in abroad to be recovered upfront, however the amount shall be refunded by way of credit to the loan account on availment of loan.

 

 

Eligibility Criteria : Education Loan

Student Eligiblity : - Should be Resident Indian. - Secured admission to one of the courses listed by the Bank.
  Salaried Self
Age Co-Applicants and Students Age will be considered Co-Applicants and Students Age will be considered
Income Co-Applicant Income will be considered Co-Applicant Income will be considered
Job Experience Co-Applicants Job Experience will be considered Co-Applicants Job Experience will be considered
Residence Proof Minimum Duration of Stay Not Available Minimum Duration of Stay Not Available

Docs Required : Education Loan

Security : - Upto Rs.4 lacs : No security - Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee along with assignment of future income. - Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income
  Salaried Self
ID Proof Co-Applicants :Passport Copy/ Voters ID card/ Driving Licence Co-Applicants :Passport Copy/ Voters ID card/ Driving Licence
Address Proof Co-Applicants :Ration card Telephoneor electricity Bill/ Rental agreement/ Passport copy Co-Applicants :Ration card/ Telephone or Electricity Bill/ Rental Agreement / Passport copy/Trade license /Establishment or Sales Tax certificate
DOB Proof Co-Applicants and Student:Birth Certificate or 10th Class Passing Certificate Co-Applicants & Students :Birth Certificate or 10th Class Passing Certificate
Financial Docs

Co-Applicant Salaried Individual:

  • Latest 3 months Bank Statement (where salary/income is credited)
  • 3 Latest salary slips
  • Proof of Continuity current job (Form 16 / Company appointment letter)
  • Proof of Qualification Highest Degree (for Professionals / Govt employees)
  • Mark sheet of last qualifying examination for school and graduate studies in India.
  • Proof of admission to the course.
  • Two copies of passport size photographs from borrower / Co-obligant / guarantor

 

Co-Applicant Self Employed Individual & Professionals:

  • Bank Statements(latest 6 months bank statement /passbook)
  • CA Certified latest ITR along with computation of income, B/S & P&L a/c for the last 2 years.
  • Qualification proof of the highest professional degree
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
  • Other Mandatory Documents(Sole Prop. Decl. Or Cert. Copy of Partnership Deed,Cert. Copy of MOA, AOA & Board resolution.)
  • Mark sheet of last qualifying examination for school and graduate studies in India.
  • Proof of admission to the course.
  • Two copies of passport size photographs from borrower / Co-obligant / guarantor

 

Other Charges : Education Loan

N/A

Products offered by Bank of Baroda

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Testimonial

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