Baroda Gyan - Baroda Education loan

A 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.

• No processing charges.
  
  
• No Margin on loans upto 4 lacs.
  
  
• Free Debit Card.
  

Terms & Conditions

Courses Eligible :

• All Graduation courses.
  
  
• All Post Graduation courses & Doctorate courses.
  
  
• Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
  
  
• Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
  
  
• Courses like C.A, ICWA, CFA, CS, etc.
  
  
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
  
  
• Regular Degree/ Diploma courses like Aeronautical, pilot training,
  shipping etc., approved by Director General of Civil Aviation/shipping.
  
  
• Other courses leading to diploma / degree etc. conducted by
  colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc.
  
  
• Courses offered in India by reputed foreign Universities.
  
  
• Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.
  
  
• Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.

Student Eligiblity :

• Should be Resident Indian.
  
• Secured admission to either of above courses
  
• A meritorious student (who qualifies for a seat under merit quota) will also be eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.
  
• or courses under Management Quota Seats considered under the scheme, fees as approved by the State Government/ Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
  
• Additional concession of 1.00% to the students who have sought admission in premier institutions viz. IIMs, IITs, IIFT, AIIMS, AFMC , ISB, NITs, XLRI, MDI, SPJIMR, IISC, SPJIM

Coverage of expenses :

• Fee payable to college / Institution / University.
  
  
• Examination / Library / Laboratory Fee.
  
  
• Fee and other charges payable to hostel.
  
  
• Purchase of books / equipments / instruments.
  
  
• Personal Computers / Laptops wherever required.
  
  
• Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
  
  
• Any other expenses required to complete the course - like study tours, project works, thesis, etc.

Maximum Loan Amount : Rs.10.00 Lacs.
Margin :

Upto Rs. 4.00 lacs :- NIL

Above Rs. 4.00 lacs :- 5%


• Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.

Repayment Holiday / Moratorium Period :

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

Repayment Period :

• Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs
  
• Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

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 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

For more information & apply online visit: http://www.bankofbaroda.com