Bank of Baroda Overseas Education Loan with Low Interest rate Bank of Baroda Education Loan Apply Online

An Introduction to BoB Education Loans

Are you on the lookout for the best education loan providers for your higher studies abroad? Bank of Baroda Education Loan is a solid option to consider! Read on to know literally everything about BOB Education Loan details- all at one place!

A government bank education loan is the best option for students looking to finance their abroad studies. No other loan provider can match the beneficial terms of government banks, whether it is the education loan interest rate, repayment policies, concession for female students etc.

These factors make an education loan from Bank of Baroda a great option for you.

To start the process of your Bank of Baroda Education Loan apply online here!

₹10,000*

Processing Fee (*Refundable)

9.45%

Rate of Interest From

0-10%

Loan Margin

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BoB Education Loan Schemes

There are several Bank of Baroda Loan schemes. But there is only one Bank of Baroda Education loan for abroad studies. This is the Baroda Scholar scheme. To get an overview of the Baroda Scholar scheme, click here.

BOB Education Loan schemes Applicable to
BARODA VIDYA School students up to Class XII
BARODA GYAN Higher Education in Indian universities
BARODA SCHOLAR Higher studies in foreign universities. Bachelors and upwards.
BARODA EDUCATION LOAN Students of premier Indian institutions
BARODA SKILL DEVELOPMENT LOAN For small skill development courses in India
BANK OF BARODA EXECUTIVE DEVELOPMENT PROGRAM For working professionals pursuing distance, part-time and online programs from both Indian and Foreign universities.

In the arena of Abroad Education Loan, Bank of Baroda is one of the pioneers. But before you read on, please get this straight! BOB Education Loan terms vary depending on the university you have received admit from.

Please read the following paragraphs very carefully to correctly understand the terms of BOB education loan for abroad study.

For a clear understanding of Bank of Baroda Education Loan Terms and Conditions, speak to the BOB Education Loan experts here!

Bank of Baroda Education Loan List of Premier Institutions

In Bank of Baroda Education Loan Scheme, there are four university specific lists. This list is commonly known as Bank of Baroda Education Loan List A Institutions. List 1 contains the 262 top STEM universities from all over the world. List 2 contains the top universities for Management world over. List 3 covers Medical programs. List 4 covers the Arts and Humanities- Law, Economics, Econometrics, Arts, Performing Arts and Design Courses.

Bank of Baroda University List (Baroda Scholar) Number of Universities under BoB Education College List
List 1 - STEM Courses 262
List 2 - Management Courses 172
List 3 - Medical Courses 100
List 4 - Arts, Humanities and Design Courses 41

Here is a sample from the Bank of Baroda Premier Institute List- Abroad Category:

STEM Courses Management Courses Medical Courses Arts, Humanities and Design Courses
University of Michigan Northeastern University Duke University Brown University
Imperial College London Cardiff University University of Cambridge King’s College London
The University of Auckland University of Zurich Lund University National University of Singapore
Delft University of Technology Nanyang Technological University Seoul National University University of Toronto
Monash University INSEAD Business School Utrecht University University of Melbourne

Bank of Baroda education loan for premier institutions is an advantageous option for meritorious students. Find out if your institution features in the Bank of Baroda university list.

If your university is among the Bank of Baroda Education Loan List A Institutions, your BOB Education Loan Interest Rate is 0.5% lower than the non- prime universities. Your loan margin is 0% if your university is in Prime University List. In non prime university list, your loan margin will be 10%. There is also a difference in the maximum loan amount disbursed. Confused? Information Overload? Have a free discussion with our BOB Education Loan specialists to fully understand the Baroda Scholar Scheme.

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Bank of Baroda Education Loan- Main Points

Key Pointers of Education loan from Bank of Baroda BoB Prime University BoB Non Prime University
Interest Rate 9.45% for female students.
9.95% for male students.
10.2% for female students.
10.7% for male students
Loan Amount Rs. 8 Lacs to Rs. 80 Lacs Rs. 8 Lacs to Rs. 60 Lacs
Processing Fees Rs. 10,000 (refundable) + Rs. 1,800 (GST charges) + Rs. 7,500 approximately for legal and valuation charges. Rs. 10,000 (refundable) + Rs. 1,800 (GST charges) + Rs. 7,500 approximately for legal and valuation charges.
Loan Period 15 years maximum 15 years maximum
Moratorium Period Course duration + 1 year Course duration + 1 year
Processing Time 15 days with WeMakeScholars 15 days with WeMakeScholars
Loan Margin 0% 10%
Eligible Expenses Everything- Tuition fee, Everything- Tuition fee,
Travel, Living expenses/ Hostel fee, Examination fee/ Purchase of Stationery Travel, Living expenses/ Hostel fee, Examination fee/ Purchase of Stationery
Repayment begins 12 months after course completion 12 months after course completion

Wondering whether your university falls under BOB’s Prime University List? The Bank of Baroda Education Loan list A institutions are edited every year. Ask our Financial Officers to find out on your behalf!

This video by WeMakeScholars co- founder Damini Mahajan systematically explains all the main Bank of Baroda Education Loan details. Watch the video to become a BOB Education Loan expert yourself!


Fill the Bank of Baroda Education Loan online application form for Abroad studies now to get the best loan package for your higher studies abroad!

BOB Education Loan Interest Rate

What is the Bank of Baroda Education Loan Interest Rate?

Male Students Female Students
Prime University (MCLR + 1.25%) 9.95% 9.45%
Non Prime University (MCLR + 2%) 10.7% 10.2%

Currently, the Bank of Baroda Education Loan base rate (MCLR) is 8.65%. MCLR (Marginal Cost of Funds Based Lending Rate) is the base level, your ROI will never go below that.

Bank of Baroda Education Loan Interest Rate 2019 allows for a 0.5% reduction for female students. If your university is in BOB Education Loan College List, interest rates are lower as illustrated in the table above.

Do you meet all the Bank of Baroda education loan eligibility criteria? Check with our team here, who will assess your entire profile and give you a good idea about the BOB education loan for abroad studies.

Countries and Courses Eligible

What are the Eligible countries and courses for BOB Education Loan?

Bank of Baroda Education Loan scheme accepts every kind of education loan application irrespective of the course or country. Great news, right?

The 0.5% reduction in your BOB Education Loan Interest Rate is eligible if you meet two criteria. Firstly, if your field of study is STEM, Management, Medical, Economics, Econometrics, Arts, Law, Performing Arts or Design. Secondly, if your university has a good ranking.

For education loan, BOB interest rate is one of the best rates in the market.

To start the process of Bank of Baroda education loan Apply online here!

Minimum and Maximum Loan Amount

What are the Minimum and Maximum Loan Amounts under BOB Education Loan Scheme?

Minimum Loan Amount Maximum Loan Amount
Prime University List 8L 80L
Non Prime University List 8L 60L

Please note that there is no hard and fast rule regarding the upper limit of the Bank of Baroda education loan for abroad studies. The invincible financial officers at WeMakeScholars have even managed to secure BOB education loan of 95 Lacs from BOB for students when it was required

Do you have any Bank of Baroda Education Loan issues to resolve? Get in touch with us!

BOB Education Loan Repayment Rules

What is the Repayment Policy of Bank of Baroda Education Loan for abroad studies?

The BOB Education Loan Repayment method is easy to understand. BOB Education Loan details allow for a moratorium period of upto 1 year after course duration. Moratorium Period is also called Repayment Holiday. In this period you do not have to make any payments to the bank

Repayment of BOB education loan for abroad begins usually 1 year after your course completion. This grace period is given so that students can be gainfully employed. They will be in full control of their Bank of Baroda Education Loan Repayment.

This is in contrast to many private banks and NBFCs where students pay a proportion of their interest while studying. As students are unable to make these payments, the burden falls on the parents.

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Baroda Scholar Loan Margin

What is Loan Margin? Is there a Loan Margin for Bank of Baroda Education Loan?

Loan Margin is a concept that is relevant to all government bank education loans. Government Banks want to be sure that the student is completely serious about completing his course abroad. Hence, they require the student to pool in a minimum percentage of his total expenses with every loan disbursal. For Bank of Baroda, the loan margin varies depending on your university.

Loan Margin for Bank of Baroda Abroad Education Loan
For Prime Universities 0%
For Non- Prime Universities 10%

For example, if you belong to a non prime university, your loan margin on paper is 10%. If you require the bank to disburse Rs. 10 Lacs for your first semester tuition fee, the Bank will ask you to place 10% of the required amount in the Loan account. For this example, you will be required to pool in Rs. 1 Lac.

This payment from the student’s end is done on a pro- rata basis only. So, no need to worry about a financial burden!

To understand more about Bank of Baroda Loan Margin, speak to the experts here!

BOB Education Loan Subsidy

Is there any BOB Education Loan Subsidy?

Bank of Baroda Education Loan Subsidy is applicable to you if you belong to the following groups:

Central Govt Schemes for BoB Education Loan Subsidy Bank of Baroda Education Loan Subsidy Applicable To Result of the BoB Education Loan Subsidy
Padho Pardesh Scheme of Interest Subsidy for Education Loans Students belonging to Religious Minority Communities Students will not have to pay interest accrued during the moratorium period.
Dr. Ambedkar Central Sector Scheme of Interest Subsidy for Educational Loans For students belonging to Other Backward Classes (OBCs) and Economically Backward Classes (EBCs) Students will not have to pay interest accrued during the moratorium period.

According to Bank of Baroda Education Loan details, the student must apply for these subsidy schemes. The Bank personnel will be in touch regarding the status.

Fill your Bank of Baroda Education Loan Application Form to start your Baroda Scholar Loan process.

Bank of Baroda Education Loan Documents

What are the Bank of Baroda Education Loan documents required?

BOB Education Loan Documents to be submitted by the applicant BOB Education Loan Documents to be submitted by the co applicant
1) BOB education loan application form 1) Residence Proof (Telephone Billy/ Electricity Bill/ Water Bill/ Gas Bill or Aadhar card)
2) Passport (compulsory for abroad studies) 2) Identity Proof (Drivers Licence or PAN card)
3) Residence Proof (Telephone Billy/ Electricity Bill/ Water Bill/ Gas Bill or Aadhar card) 3) 2 Passport size photographs
4) Identity Proof (Drivers Licence or PAN card) 4) Latest salary slips (for last 3 months)
5) Copy of Class X, Class XII, Degree and latest academic qualifications- certificate and marksheet. 5) ITR of Last 2 years
6) Admit letter from the university 6) Form 16 of last 2 years
7) University Ranking Printout. Speak with our team to know exactly which sources are considered legitimate 7) Balance Sheet for last 3 years and Profit and Loss Statement (only if self employed)
8) IELTS/ TOEFL/ GRE/ GMAT Scorecard 8) Proof of Business Address (if self- employed)
9) 2 Passport size photographs 9) Employer’s ID Card (if employed)

Have any doubts regarding the documents? Let a WeMakeScholars officer clear up the confusion!

BOB Education Loan Collateral Documents

Here are the Bank of Baroda Education Loan Documents required for your collateral security:

BoB Education Loan Documents Required for Collateral Security:

  1. Property Title Deed and Registered Sale Agreement
  2. Original Registration Receipt for the above agreement
  3. Allotment Letter by Municipal Corporation/ Authorized Government Authority like MHADA, CIDCO, HUDA, JDA, GIDC ETC (if applicable)
  4. Encumbrance Certificate (EC) of the last 30 years. This document is commonly known as Link Document
  5. Copy of municipality approved building plan or plot layout
  6. Latest property tax bill or Latest electricity bill bearing the same address

There are some more region specific documents. Contact our team of Baroda Scholar Loan expert to get a clear understanding!

The procedure for Bank of Baroda Education Loan has been made as convenient as possible by WeMakeScholars. Read how we help.

Apply Online

BOB Education Loan Processing Fee

What is the BOB Education Loan Processing Fee?

Breakdown of Bank Education Loan Charges
Processing Fee (fully refundable) Rs. 10,000
GST Charges Rs. 1,800
Legal and Valuation charges (approximate figure) Rs. 8,000

The BOB Education Loan Processing Fee is refunded to the student after the Bank of Baroda Education Loan Sanction Letter is issued.

BOB Education Loan Procedure

What is the Bank Of Baroda Education loan procedure?

Bank of Baroda Education Loan processing time is about 1.5 months. But through WeMakeScholars, the duration is reduced to 15 days? You want to know how? Well, for that you need to understand how the BOB education loan process works.

If you go yourself, without the assistance of WeMakeScholars, this is how your BOB Education Loan process will be:

Step 1: You visit the branch and get the form and further details.
Step 2: You collect all the documents and submit it to your branch.
Step 3: The bank will 99.9% send you back asking for some more papers. (We’ve dealt with hundreds of students. We know the drill!)
Step 4: You run to every pillar and post gathering all these said documents.
Step 5: You go back to the branch to submit these documents.
Step 6: The bank logs in your file and does some paperwork.
Step 7: The bank sends the file to the branch approved lawyer.
Step 8: The lawyer completes his report and sends it back to the branch.
Step 9: The branch sends your file to the valuator.
Step 10: The valuator visits your property and completes the valuation report.
Step 11: The branch receives your file again. After finishing more paperwork, they forward your file to the processing centre.
Step 12: The Regional Processing Center sends the file to their own lawyer and valuator for “verification.” Basically, the same process is repeated all over again.
Step 13: The Regional Processing Center logs in and creates your loan account.
Step 14: Applicant and Co Applicant will be called for mortgage creation and signing of loan agreement.

Now at WeMakeScholars, the first 10 steps are removed in one shot!!

Why? Because the Corporate Centre of BOB (Bank of Baroda’s highest office) has given us the authority to send BOB Education Loan files directly to their special regional processing centres.

They have great confidence in the quality of Baroda Scholar Loan files we filter and send, so they do not do a second round of legal and valuation process!

Also, since we conduct a BOB Education Loan status tracking process on a daily basis, it’s impossible for the file to remain stagnant at any stage.

That’s how the BOB Education loan process of 90 days is completed in 15 days!


Fill your BOB Education Loan Form here for the quickest way to get your education loan sanctioned!

Some of the smaller regions of India do not have a processing centre directly above them. So, for the initial logging in, we have identified the best branches in the smaller regions. We accelerate it up to the processing centre until the BOB Education Loan Sanction letter is issued and the entire process is completed.

BOB Education Loan Processing Time

What is the Bank Of Baroda Education Loan Processing Time?

Bank of Baroda Education Loan procedure takes about 90 days if the student goes on his own. But through WeMakeScholars, the Bank Of Baroda Education Loan Processing Time is reduced to 15 days. Confused? Please read the section above, where it is explained clearly!

BOB Education Loan Process- When to Start?

When is the best time to start the BOB Education Loan process?

It is best to fill your BOB Education Loan Application Form online as soon as at least one university has confirmed your admit. This gives you time to consult the bank’s lawyers and valuators, retrieve missing papers and resolve issues. If you decide to go ahead with another university, WeMakeScholars will make the necessary calls to change the details in the middle of the Bank of Baroda Education Loan process too.

BOB Education Loan Status

How can I check my BOB Education Loan status?

Unfortunately there is no online portal where you log in to check your BOB Education Loan status. But since WeMakeScholars tracks your BOB Education Loan status file daily, we will definitely be able to give you an update. Fill this BOB Education Loan Form for daily tracking of your Bank of Baroda Education Loan Abroad.

BOB Education Loan Calculator

Is there a Bank of Baroda Education Loan EMI Calculator?

Check out this BOB Education Loan EMI calculator for a solid idea of your repayment plan. Since this is from the official website of Bank of Baroda Education Loan, EMI calculator will be quite accurate.

BOB Education Loan- Special Cases

I would like to use some money from my Bank of Baroda education loan account before my visa is approved. Is it possible?

This is especially for students planning to study in Australia, Germany, Canada, New Zealand and even some universities in the USA. These students are required to set aside Rs. 7- 10 Lacs to cover their Living Expenses. In other cases, they are required to pay their first semester tuition fee to confirm their admission. Only after this payment is made can students apply for visa.

Contact your financial counselor from WeMakeScholars to ensure that the amount is disbursed according to university/ embassy requirements.

BOB Education Loan City Specific Details:

City- specific guidelines determine your Bank of Baroda education loan status:

Mumbai Does your collateral have OC Certificate? It’s ideal to have OC Certificate. Still if you do not have it, through WeMakeScholars we can try through case by case basis. We have a list of some alternate documents that can be acceptable instead of OC.
Bangalore Does your collateral fall under A khata zone? Then there is every possibility that your loan will be sanctioned. If your khata falls under B khata, it will not be accepted as collateral security by any bank. On the other hand, if your collateral falls under E khata then banks will consider on a case by case basis. There is reason to hope!
Hyderabad It’s important that your collateral has the LRS and BRS documents. If you don’t, run and get these documents asap!
Other cities and regions of India Please ask our team if there are some specific requirements asked only in your region. They will keep you prepared for every possibility.

Bank of Baroda Education Loan Eligibility depends on several such factors. Have a discussion with our team about your profile!

BOB Education Loan Amount Disbursal

How is the loan amount disbursed according to the Bank of Baroda Education Loan Scheme?

There are certain requirements of the universities regarding payment of tuition fee. According to the latest rulings of most universities, payments have to be made through third party portals like Flywire, TransferWire etc. Though Bank of Baroda Education Loan, at this point, does not have a formal circular in this regard, through WeMakeScholars’ assistance all the payments have been made according to university requirements only.

BOB Education Loan- benefits

What are the benefits of Baroda Scholar Education Loan?

  1. Low Rate of Interest: The amazing part of BOB Education Loan scheme is that they recognize meritorious students by allowing a reduction in the BOB education loan interest rate by 0.5%. If your university falls under the Bank of Baroda Education Loan list A institutions abroad, then your BOB education loan interest rate 2019 is 9.45% for female students and 9.95% for male students. Bank of Baroda education loan to students of premier institutions is a win- win situation for them!
  2. Predominantly online procedure: Even from the start, you can upload most of your documents needed in the Bank of Baroda education loan form online here
  3. Refundable Processing Fee: The processing fee of Rs. 10,000 is fully refunded to you after you receive your Bank of Baroda Education Loan Sanction letter.
  4. Personalised Assistance for free: There have been cases when government bank education loan officers have rejected student loan application. But because we negotiated on behalf of students, they agreed to reconsider their files and even grant loans.
    For Mumbai cases, files without OC are directly rejected. But Bank of Baroda Education Loan has been granted on the basis of some alternate documents after the intervention of WeMakeScholars. Through WeMakeScholars, there will be daily tracking of your BOB Education Loan status. All of this, by the way, is completely free.
  5. Post sanction assistance: Our assistance does not end when you receive your Bank of Baroda Education Loan Sanction Letter. Even after the sanction, if there are issues during disbursal or repayment,we will resolve every issue!
  6. Cashback: By going through WeMakeScholars, you become an active participant of the Digital India Campaign of the Central Government of India, hence you will be eligible for a cashback of upto Rs. 3000 from WeMakeScholars. Hit us up to find out more.

BOB Education Loan Customer Care

How can I reach Bank of Baroda Education Loan Customer Care?

Well, this is the official route if you are seeking Bank of Baroda’s customer care. This link will lead you to the Bank of Baroda website. There is no Bank of Baroda Education Loan contact number provided. However, if you are looking for a guaranteed response, follow this link instead. The National Digital Partner of Bank of Baroda will find a solution to your problem!

For a quick discussion about your profile, request a call back from our team here

Fill the BOB Education Loan Application Form online here.

For more info on the Bank of Baroda Education Loan details, watch this video. It gives a comprehensive summary of the Baroda Scholar Loan scheme.

WeMakeScholars is an organization which is funded and supported by the IT Ministry, Government of India under the Digital India initiative. We are the Digital Partners of the Education Loan Departments of various banks and financial institutions. The services provided by us are free of cost.

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