Education Loan Bank Of Baroda Online

Sir, I want to apply online for Education Loan in Bank of Baroda so can you please provide me the procedure and the guidelines to fill the online application form of Education Loan? Also tell me the documents required to apply for this?

Hi I would like to know a few important details of the Bank of Baroda’s Education Loan as I am likely to avail an education loan?

[Kiran Chandar]

Bank of Baroda offers a variety of attractive and economic retail loan schemes. Among them, Baroda Education Loan offers the best as under:

Financial Assistance for almost all the courses like:- All graduate courses / Post Graduate / Doctorate/ Job-oriented Professional / Technical Courses recognized by the reputed Universities like -
1.UGC
2.AICTE
3.AIBMS
4. ICMR and many other reputed foreign universities.
Maximum Loan Amount: Rs.10.00 Lacs.

Rate of Interest:-
Loans up to Rs.4 Lacs
Loans above Rs.4 Lacs

2.00% above Base rate I.e.10.50%
4.00% above Base rate I.e.12.50%

* Simple Interest during Repayment holiday / moratorium period.
* 1% Interest Concession, if Interest debited during the repayment holiday is serviced.
* 1% Concession in Rate of Interest to loans for Girl student.
* Panel Interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- Lacs.

Coverage of Expenses:-
* Admission / Tuition Fees to College / University.
* Hostel / Mess Charges.
* Examination / Library / Laboratory Fee.
* Purchase of Books / Equipments / Instruments.
* Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Reciepts.
* One way travel expenses / Passage Money. (for Baroda Scholar Scheme).
* Purchase of Computers if Essential for completion of the Course.
* Any other Expense required to complete the Course e.g. study tour, project work, thesis etc.

Repayment Period:-
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 above period.