Benefits

• Loan for Higher study in India (Target Group: Students pursuing Graduation, Post-Graduation, Professional and other courses in India.)
• Moratorium Period : Repayment typically starts after the completion of the course, providing students time to secure employment.
• Co-borrower Option : Parents or guardians can be co-borrowers to enhance eligibility.
• Tax Benefits : Repayment interest might be eligible for tax deductions under Section 80E of the Income Tax Act.
• No security up to Rs.7.50 Lakh
• Free Debit Card
• No Documentation charges
• For Medical and Aviation Max. Rs.125.00 Lakh
• For other Courses Max. Rs.25.00 Lakh
• No Margin on loans up to 4 lacs.

Courses Eligible

• Graduation courses: BA, B.Com, B.Sc., etc.
• Post-Graduation courses : Masters & PhD.
• Professional courses like: engineering, medical, agriculture, veterinary, law, dental, management, architecture, computer, etc.
• (Management courses include hotel management, hospitality management, Event management, mass communication, etc. offered by reputed institutions having assured employment prospects).
• Computer certificate courses of reputed institutes accredited to the department of electronics or institutes affiliated to an approved university.
• Courses like ICWA, CA, CFA.
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT.
• Regular degree/diploma courses like aeronautical, pilot training, shipping etc., approved by the director general of civil aviation/shipping.
• Courses offered in India by reputed universities abroad.
• Evening courses of approved institutes.
• Other courses leading to diploma/degree ,Certificate etc., conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ICMR
• Teachers training course/nursing course/B.Ed will be eligible for education loan provided the training institutions are approved either by the Central Government or by State Government and such courses should lead to a degree or diploma Course and not to certificate course. Branches can consider the request for education loan under our Baroda Gyan Scheme for the above courses. The fee that is to be considered for purpose should be the fee structure as approved by the State Government or Government approved regulatory body for merit seats in government Colleges/private self-financing colleges, cooperative and colleges run by universities, as the case may be.
• Baroda Corporate Centre may approve other institution/courses depending on future prospects/recognition by user institutions.

Student Eligibility

• Student of Indian National.
• Non-Resident lndian (NRl), Person of India Origin (PlO) / Overseas citizen of India (OCl) and students who are born to Indian parents during their stay abroad (overseas citizenship by birth, when parents were on deputation with Foreign Government/Government agencies or international /Regional agencies etc. and now studying in India after repatriation of their parents) an should have secured confirmed admission for a higher education Course in India only.

Documents Needed

• KYC of applicant and co-applicants
• Academic Records
• Proof of admission
• Entrance Exam Result(if applicable)
• Statement of cost of study/ Schedule of expenses
• Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
• Bank account statement for last 6 months etc
• Property Documents (if applicable)

Margin

• Upto Rs. 4.00 Lakh: NIL
• Above Rs. 4.00 Lakh: 5%

Other Terms & Conditions

Coverage of expenses for

• Fee payable to college / Institution / University / School / Hoste
• • Examination / Library / Laboratory fee.
  • Hostel fees / charges.
  • Purchase of books / equipments / instruments / uniforms.
  • Caution deposit, Building fund / refundable deposit supported by institution bills / receipts, subject to condition that the amount does not exceed 10% of the total tuition fees for the entire course.
  • Purchase of Personal Computer / Laptop – essential for completion of the course.
  • Insurance premium for student borrower, if any opted by the student. Presently Bank has tie up arrangement with M/s. IndiaFirst Life Insurance Co & M/s. Kotak Life Insurance co for Group Credit Life insurance cover to Educaiton Loan borrowers.
  • Any other expenses required to complete the course – like study tours, project works, thesis, etc.
  • Cost of external coaching / tuition is not to be considered.
  • For admission taken under Management Quota Seats, fees as approved by the State Government / Government approved regulatory body for payment seats will be taken.

Note: The details of expenses for the entire course period to be obtained from college/institution.

Repayment Period

• The loan is repayable in maximum 10 – 15 years after the completion of moratorium period as mentioned above
• For loans up to RS. 7.50 Lakhs : Moratorium Period +Maximum -120- installments
• For Loans above RS. 7.50 Lakhs : Moratorium Period +Maximum -180- installments

Fees and Charges

EMI Calculator