Baroda Scholar - Baroda Education loan

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 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.4.00/- 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.
  
  
• 0.50% 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 information & apply online visit: http://www.bankofbaroda.com