Welcome dear reader, let’s learn about How to get Bank of Baroda Education Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.
Bank of Baroda is providing education loan to meritorious students for pursuing higher studies abroad in India or outside India . Any student can fulfill his education dream with BOB Education loan . bank customers immediately Providing Education Loan (Instant Loan for Students) . In this article, we will know in detail what is Bank of Baroda Education Loan, what is the interest rate, eligibility, documents of this loan and how can we Bank of Baroda student loan etc. , so you can read this article till the end .
Bank of Baroda Education loan
student loan one unsecured loan comes under the category of This loan can be taken by any student for the expenses related to his education such as fees , living expenses , commuting expenses etc. Before applying for BOB Education loan , the student must check his CIBIL Score . If your credit score is very good then you can take education loan up to higher loan amount at attractive interest rate of the bank . You can apply for Bank of Baroda Student Loan both online and offline . Vidyalakshmi Education Loan Portal You can also apply for this loan through Before applying for the loan, you need this loan Education loan interest rate 2023 It is necessary to have information about
Bank of Baroda offers various types of Education Loan to the customers . The interest rate and loan amount are different in different loan schemes . The beneficiary is also given tax benefits under section 80E of the Income Tax Act . The maximum loan tenure of Bank of Baroda Education Loan is 15 years . You do not need to provide any collateral for loans up to Rs.40 lakhs which is only for identified premier institutions . The maximum loan amount for studies in India is Rs 120 lakhs and the maximum loan amount for studies abroad is Rs 150 lakhs .
Bank of Baroda Education Loan Key Feature:
- Loan Name: Bank of Baroda Education Loan 2024
- Lender Name: Bank of Baroda
- Beneficiary: Student
- Loan tenure : 15 years
- Loan amount : For studies in India – up to Rs 120 lakh / For studies abroad – up to Rs 150 lakh
- Application Mode: Online / Offline
- Moratorium period: Course duration + 1 year
- Official Website: https://www.bankofbaroda.in/
- BOB Wiki
Bank of Baroda education loan interest rate 2023
Before applying for a loan, you need to be aware of its interest rate . The bank provides many types of education loans, whose interest rate is also different:
| type of loan | Rate of interest |
| Baroda Vidya | 9.60% |
| Baroda Gyan | up to 8.75% |
| Baroda Scholar | 8.25% to 8.90% |
| Baroda Education Loan to Students of Premier Institutions (For Studies in India) | 6.75% to 8.75% |
Benefits and Features of Bank of Baroda Education Loan
- Any student to study in India or abroad, to meet all the expenses related to his education Bank of Baroda student loan can apply for
- The beneficiary student can take a loan amount up to a maximum of Rs 120 lakh for studies in India and a maximum of Rs 150 lakh for studying abroad .
- The maximum loan tenure of the loan is 15 years .
- Student can apply for BOB Education loan both online and offline .
- Beneficiary is also given the benefit of tax benefits on education loan under Section 80E of Income Tax Act 1961 .
- Only resident of India can apply for Bank of Baroda Education loan .
- Before applying for the loan, the student has to take admission in a recognized educational institution in India or abroad .
- from BRLLR+ 0.25% for study in India and BRLLR+ 1.75% for study abroad .
- You can pay your student loan online through Net Banking , Mobile Banking , EMI or by visiting your nearest bank branch .
- Applicant student has to give co-applicant . Parents/Guardians can be there as co-applicants .
BOB Education Loan Schemes
Bank of Baroda offers various types of education loans to the customers which are as follows:
Baroda Vidya Student Loan
- This loan is given to the beneficiary for schooling in any recognized school .
- Advance loan amount under Baroda Vidya loan is Rs 4 lakh .
- This loan is a minor can also get
- You can take advantage of this loan to pay your school fees .
- No processing fee .
- no security
- There is no age restriction for this loan .
- No Margin |
- loan amount has to be repaid in 12 equated monthly installments .
- No Document Fee
Documents:
- KYC of applicant and co-applicants
- academic records
- proof of admission
- Entrance Test Result (if applicable)
- Statement of Cost of Study/Schedule of Expenses
- Income Proof for Salaried Co-Applicant/Guarantor (if applicable)
- Bank account details for last 6 months etc.
- Property document (if applicable)
Baroda Gyan Loan
- This loan can be taken for higher studies in India .
- No processing fee .
- No Document Fee
- Rs.4 lakh .
- There is no age limit to apply for Baroda Gyan Loan .
- No security up to 7.50 lakhs .
- Free Debit Card |
- To apply for this loan, the student must be a resident of India .
- class 12 , you have to take admission in a recognized institution .
- graduation , post-graduation , professional and other courses in India can apply for this BOB education loan .
Documents:
- KYC of applicant and co-applicants
- academic records
- proof of admission
- Entrance Test Result (if applicable)
- Statement of Cost of Study/Schedule of Expenses
- Income Proof for Salaried Co-Applicant/Guarantor (if applicable)
- Bank account details for last 6 months etc.
- Property document (if applicable)
Baroda Scholar Loan
- The student can take advantage of this loan for pursuing professional/technical studies abroad .
- There is no age restriction to apply for this Bank of Baroda Education loan loan .
- The maximum loan amount is Rs 150 lakh .
- This education loan can be availed only for studying abroad .
- No processing fee .
- No margin on loan up to 4 lakhs .
- No security on loans up to Rs 7.50 lakh .
- No Documentation Fee
- Applicant student must be an Indian citizen .
- The maximum tenure of the loan is 15 years .
Documents:
- KYC of applicant and co-applicants
- academic records
- proof of admission
- Entrance Test Result (if applicable)
- Statement of Cost of Study/Schedule of Expenses
- Income Proof for Salaried Co-Applicant/Guarantor (if applicable)
- Bank account details for last 6 months etc.
- Property document (if applicable)
Baroda Education Loan to Students of Premier Institutions
- No processing fee .
- No Margin |
- , post-graduation , professional and other courses in India Can take advantage of BOB Education loan .
- maximum loan amount that can be taken is up to Rs.80 lakh .
- The maximum tenure of the loan is 15 years .
- Parents , guardians , friends and relatives can be co-obligants .
- girl students are given a discount of up to 0.5% in the interest rate .
Bank of Baroda Skill Loan Scheme
- The benefit of this skill loan scheme is given to the students studying technical courses offered by training institutes , polytechnics etc.
- No processing fee .
- No Margin |
- No need for security
- No Document Fee
- Under the Bank of Baroda Skill Loan Scheme , you can get a minimum loan amount of Rs. 5,000 and a maximum of Rs. 1,50,000 .
- maximum loan tenure is 7 years .
Bank of Baroda education loan documents required
Before applying for Bank of Baroda Education Loan, you should keep all your documents together so that whenever the bank asks you for documents, you can immediately show them all the documents:
- Application letter
- proof of admission
- passport size photo
- Income proof of co-borrower or guarantor
- collateral document
- bank details
- Address Proof : Voter ID Card / Aadhar Card / Pan Card / Passport / Driving License
- Identity Proof : PAN Card / Aadhar Card / Driving License / Passport / Voter ID
- Educational Documents :
- entrance exam mark sheet
- 10th and 12th Exam Marks Card
- Marksheet of GRE/IELTS/TOFEL/GMAT
- Any scholarship document if applicable
- Marks card of any further education
How to apply for Bank of Baroda Education Loan ?
If you fulfill all the conditions of this student loan , then you can apply for it both online and offline . The procedure to apply is given below:
Bank of Baroda Education loan apply online
- To apply online, first you have to visit the official website of the bank. bankofbaroda.in But have to come
- In the option of Loans on the home page of the website education loan Click on this option will appear .
- A list of all loans will appear in front of you .
- To apply, you will see the option of Apply Now here , click on it .
- After clicking, the loan application form will open in front of you .
- Enter the requested information in the form and submit the form .
- After this the bank employees will contact you and the loan process will be issued further .
How to apply offline ?
- First of all you have to go to your nearest branch of Bank of Baroda .
- Bank employee has to be contacted .
- Bank employee will provide all the information related to education loan .
- Then your documents will be verified .
- Then you will be given an application form .
- Enter the requested information in the form, attach your documents and submit it to the same bank .
- In this way your offline application will be done.
BOB Education loan EMI Calculator
Before applying for the loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can get an idea of how much EMI you will have to pay at the time of loan repayment . You can go to the official website of the bank Education loan EMI Calculator With the help of this you can calculate the EMI of your loan . The EMI of the loan mainly depends on the interest rate , loan tenure and loan amount .
Bank of Baroda education loan customer care number
If you want to get any other information regarding Bank of Baroda Education Loan, then you can get the information by calling the customer care number of the bank:
- Toll Free Number : 1800 258 44 55 / 1800 102 44 55
Conclusion:
In this article we have you Have provided complete information about Bank of Baroda Education loan 2023 . Any student whose financial condition is bad can take advantage of Bank of Baroda Education Loan to pursue higher studies in India or abroad .
You can also apply for this student loan by calling on Bank of Baroda Customer Care number . Hope friends you have found this article informative . If you liked this article then please share it with your friends .
FAQ’s
Q. What is Education Loan ?
Ans. The loan that any student takes to meet the expenses related to his education is education loan or student loan .
Q. How much loan can I get from Bank of Baroda ?
Ans. You can get a maximum loan amount of Rs 120 lakh for studies in India and up to Rs 150 lakh for studying abroad .
Q. How to apply for Bank of Baroda Education Loan ?
Ans. Complete information about applying for the loan is given in this article . You can apply for this loan both online and offline with the help of this article .
Q. What is the interest rate of education loan in Bank of Baroda ?
Ans. The bank offers various types of student loans with different interest rates . The list of interest rates is given in this article, you can see it .