Bank of Baroda Education Loan: Subsidy, EMI Calculator, Interest Rates

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BANK OF BARODA EDUCATION LOAN 

About Bank Of Baroda Education Loan :

Bank of Baroda is the third largest bank in India after State Bank of India and Punjab National bank and ahead of ICICI Bank.It was founded in 1908 and is headquartered in Baroda (Vadodara).The bank offers a wide range of customized and specialized services to meet the diverse needs of of its customers, and these services have been categorized into personal banking, business banking, corporate banking, international banking, treasury banking,and rural banking services.

Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get an education loan with ease..You all think that “how it is possible? To overcome this issue Bank of Baroda came with an exciting opportunity i.e. Bank of Baroda Education Loan

Benefits of Bank of Baroda Education Loan :

1. No processing fee is charged 

2. Repayment period till 15 years 

3. Loan upto Rs.4 lakh 

4. Interest rate starts from 7.50% to 9.75% p.a.

Schemes of Bank of Baroda Education Loan :

1. Bank of Baroda Vidya Scheme : Bank of Baroda vidya scheme is for school education from Nursery to XII.

  • Interest rate : 7.50% to 9.75%

  • Processing Fee : NIL

  • Loan Tenure : The loan that is availed each year must be paid back in 12 installments.

  • Documentation Charges : NIL

2. Bank of Baroda Gyan Scheme : Bank of Baroda Gyan Scheme is for higher studies in India.

  • Interest rate : 9.25% 

  • Processing Fee : NIL

  • No margin of loan upto 4 lakh

  • Free Debit Card

  • Tenure Period : Upto 15 years 

3. Bank of Baroda Scholar Scheme : Bank of Baroda Scholar Scheme if for studying Abroad.

  • Interest Rate : 8.50% to 9.25%

  • Processing fee : No processing charge

  • No margin on loan upto 4 lakh

  • Free Debit Card

4. Bank of Baroda Skill Loan Scheme : Bank of Baroda Skill Loan Scheme is for vocational education and training.

  • This scheme is applicable at all our branches across the country.

  • The candidate should be an Indian Citizenship.

  • Minimum Qualifications : As required by the enrolling institutions/ organisations as per NSQF (The National Skill Qualifications Framework).

Fees and charges apply for Bank of Baroda Education Loan :

TYPE

CHARGES

Penal interest

2% p.a. on an overdue amount

Concession in rate of interest to loans for girl student

0.50% concession

Processing Fee

NIL

Documents Required for Bank of Baroda Education Loan :

1. Filled application form.

2. Passport size photograph 

3. Proof of admission

4. Income proof of co-borrowers or guarantor

5. Bank Statements 

6. Address Proof 

7. ID proof 

8. Academic Qualifications : 

  • 10 + 12 exam marksheet

  • Mark card of any further education

  • Entrance exam marksheet

  • Mark Sheets of GRE/ IELTS/ TOFEL/ GMAT

  • Any scholarships documents if applicable 

Expenses covered under Bank of Baroda Education Loan :

  1. Tuition fees 

  2. Cost of books, uniforms and stationeries

  3. Cost of laptop or computer ( If required)

  4. Examination Form

  5. Library/ Laboratory fees

  6. Hostel fee

  7. Travel expenses ( for Abroad)

  8. Miscellaneous Expenses

Compare other bank interest rate :

BANKS

INTEREST RATE

AXIS Bank Education Loan

13.70% to 15.20%

HDFC Bank Education Loan for Indian Education

9.55% to 13.50%

HDFC Bank Education Loan for Foreign Education

9% to 14%

Kotak Mahindra Bank Education Loan 

11.5% to 24%

IDBI Bank Education Loan

8.30% to 10.41%

Indian Bank Education Loan

Starts from 8.50%

RBL Bank Education Loan

14.15% to 16.15%

Bank of Baroda Education Loan

7.50% to 9.75%

Bank of India Education Loan

7.25% to 9.75%

Canara Bank Education Loan

11.35%

Standard Chartered Bank Education Loan

10.99%

SBI Student Loan Scheme

9.30%

SBI Skill Loan Scheme

8.80%

SBI Scholar Loan Scheme

8.30% to 9.95%

SBI Takeover of Education Loan

9.30%

SBI Global Ed-Vantage

9.30%

How to apply for Bank of Baroda Education Loan :

1. Offline Method : By visiting the nearest bank branch.

2. Online Method : 

  • Visit the official website of loan.

  • Click on apply now

  • Fill out the form with essential details.

  • Upload the mandatory documents required

  • Submit the form and take out a print out of the applications 

  • Visit the bank branch for further formalities.

Other products of Bank of Baroda :

1. Bank of Baroda Personal Loan

2. Bank of Baroda Car Loan 

3. Bank of Baroda Home Loan

4. Bank of Baroda EMI Calculator 

How to contact with Bank of Baroda :

1. By customer care contact number : 18001024455 / 18002584455

2. To know the details of your branch please visit : http://bank of baroda.com/locate-us-branch.htm

 

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN

HOME LOAN

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Bank of Baroda Education Loan Frequently Asked Questions :

1. What is the maximum loan tenure for Bank of Baroda Education loans?

The maximum loan tenure is 15 years for Bank of Baroda Education Loan.

2. How to apply for an education loan from Bank of Baroda?

You can apply online or offline for an education loan from Bank of Baroda.

3. What is the interest rate provided by an education loan from Bank of Baroda?

The interest rate id provides for education loan from Bank of baroda IS 7.50% to 9.75% p.a.

4. Is, processing fee charged by Bank of Baroda education loan?

No, there is no processing fee charged by Bank of Baroda Education Loan.

Last Updated on : 10/Aug/2020

Know More About

Bank Of Baroda Education Loan

You're eligible for a Bank Of Baroda Education Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Education Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Bank Of Baroda Education Loan Interest Rates

Updated on 25 Nov 2017

Bank Of Baroda Education Loan Details
Interest Rate (Monthly reducing balance) 7.5% - 9.75%
Processing Fees NIL
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Education Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959