Bank of Baroda - Baroda Scholar Educational Loan

Bank of Baroda - 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... Achieve your goals... Reach out to the maximum limits...
Terms & Conditions
Eligiblity of Courses :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.
Student Eligiblity :
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Coverage of expenses (for overseas studies) :
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.
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.
Maximum amount of loan : Rs. 20.00 Lacs.
Margin : 15%
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.

Security :
Upto Rs.4.00/- 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 alognwith 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 


Rate of Interest :
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.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

 For more Details  :       www.bankofbaroda.com