Bank of Baroda Loans
Education Loan-2
Home Loan-2
Personal Loan
 
Bank of Baroda Accounts
Bank Of Baroda Centenary Savings Account
Bank Of Baroda Nagrik Bachat Khata
Bank Of Baroda Savings Bank Account
Premium Current Account
 
Bank of Baroda Credit Cards
Card Silver
Gold Card
Women Card
Youth Card
 
 

BANK OF BARODA EDUCATION LOAN

Education being the most important gift that parents can give their children, Bank of Baroda recognizes its customers’ financial needs to meet this goal.

Bank of Baroda offers education loan to parents for meeting schooling fees, graduate fees and post-graduate programs expenses.

Bank of Baroda Education Loan is available under three categories; Baroda Vidya, Baroda Gyan and Baroda Scholar.

BARODA VIDYA
A unique loan option for parents to fund the schooling expenses of children studying from Nursery to Senior Secondary.

Features include no processing and documentation charges, no margin money and no security deposit.

Eligibility: Baroda Vidya is available to Indian residents only. Students are required to secure admission to recognized educational institution and are disbursed over three stages; nursery to Std. V, Std. VI to Std. VIII and Std. IX to Std. XII.

The loan covers the following expenses:

• School and college fees
• Exam, library and lab charges
• Hostel fees and any other charges paid to the hostel
• Books, uniforms, instruments and other equipment expenses
• Purchasing PC or laptops
• Caution deposit, building fund and refundable deposit
The maximum loan amount is INR 400,000 and is payable over 12 months due from one year after the first disbursal. Parents have to be residents at the same place for at least 3 years.
BARODA GYAN
This loan is offered to students pursuing graduate, post-graduate and professional courses in India.

Eligible courses include all graduate, post graduate and doctorate programs, all professional courses, computer courses of certified institutions, CA, CFA, CS, ICWA, courses from IIM, IIT, XLRI and NIFT, degree and diploma courses, and foreign courses offered in India.

The loan covers the following expenses:


• School and college fees
• Exam, library and lab charges
• Hostel fees and any other charges paid to the hostel
• Books, uniforms, instruments and other equipment expenses
• Purchasing PC or laptops
• Caution deposit, building fund and refundable deposit
• Other expenses like thesis and project tours

Minimum Loan Amount: INR 10 lakhs. No margin for loans up to INR 4 lakhs and 5% for loans above INR 4 lakhs.

Moratorium Period: Course duration + six to twelve months post acquiring a job.

The loan is repayable between five to seven years at the end of moratorium period.

Security: Nil for loans up to INR 4 lakhs, third party guarantee and future assignment for loans up to INR 7.5 lakhs and tangible assets for loans over INR 7.5 lakhs.

BARODA SCHOLAR

This is offered to Indian students who have secured admission to a professional course in a foreign university. The loan covers:
• College and/or university admission and tuition fees

• Payments made to the hostel and mess

• Charges paid for examinations and charges paid for use of laboratory and library

• All expenses incurred to purchase books, equipments and other instruments required

• Caution money, amount paid towards building fund and refundable security deposit is financed on production of the bills or receipt.

• Travelling charges incurred for a single journey

• Buying a computer if required

• All other expenses, such as tours, projects and thesis that are incurred for successful completion of the course

Maximum loan amount is INR 20 lakhs and 15% of the loan amount is payable as margin money.

Moratorium is course duration + six to twelve months post acquiring a job.

The loan is repayable between five to seven years at the end of moratorium period.

Security: Nil for loans up to INR 4 lakhs, third party guarantee and future assignment for loans up to INR 7.5 lakhs and tangible assets for loans over INR 7.5 lakhs.

PROCESSING CHARGES

Bank of Baroda Education Loan charges zero processing fees for availing Baroda Vidya and Baroda Gyan loans. For loans availed under Baroda Scholar, the bank charges a 1% refundable fee.

INTEREST RATES

Bank of Baroda Education Loan interest rates are:
• Loans up to INR 4 lakhs – 2% over base rate, i.e. 11%
• Loans above INR 4 lakhs – 4% over base rate, i.e. 13%
• Loans over INR 4 lakhs for ISB, Hyderabad students – 2% over base rate, i.e. 11%

 

 
Home Loan : Car Loan : Personal Loan : Business : Accounts : Insurance : Credit Cards : Mortgage : Banking
Banks2India.com - India's largest portal for Banks in India & Banking Services Online - Copyright 2011 - All Right Reserved