Bank Of Baroda Education Loan

✓ Up to 1.5 Cr Loan

✓ Bank of Baroda (BOB) Education loan interest rate @ 10.20% P.A.

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Bank of Baroda has diverse education loan schemes tailored to meet the needs of students wanting to pursue higher education in India or Abroad.

  • Baroda Gyan
  • Baroda Scholar
  • Baroda education loan to students of premier institutions 
  • Skill loan scheme

You can watch this video to gain a better understanding of all the schemes available to you through the Bank of Baroda. This video is a valuable resource for students who are considering abroad education and looking for ways to fund their education. It provides a comprehensive overview of the education loan schemes offered by the Bank of Baroda so that students are equipped with the knowledge they need to make informed decisions about their education funding.

 

Bank of Baroda Education Loan Schemes For Studying Abroad

Bank of Baroda offers a maximum of 150 Lakhs at an interest rate of 10.85% for students pursuing education abroad.

Baroda Scholar

Parameters  Details
Loan Limit Rs. 150.00 lacs for Institutions specified in List of Premier Institutions
Rs. 60.00 lacs for Institutions not specified in List of Premier Institutions
Expenses covered
  • Accommodation fee 
  • Fees to be paid to the institution (tuition fee)
  • Examination fee
  • Purchase of computer or laptop required for the course.
  • Insurance premium for applicants 
  • Fee for the library and laboratory 
  • Funds required for books, instruments, and uniforms
  • Caution fee requested by the institution (Not exceeding 10% of the total tuition fee)
  • Any other miscellaneous expenses required 
Accepted co-applicant Parents / Parents -in-law, siblings, Parent’s siblings, spouse, first cousins 
Interest rate/rate of interest List of Institutes specified in Premier Institutions: 10.20%
List of Institutes NOT specified Premier Institutions: 
  • Up to Rs 7.50 lakh - 10.45%
  • Above Rs.7.50 Lakh - 10.85%
Moratorium Period Course period + 1 year.
Repayment Duration 10 to 15 years after the completion of the moratorium period 
Repayment policies In the moratorium period simple interest is charged whereas compound interest is charged after that
Eligibility Criteria -Must be an Indian citizen 
- Admission must be secured through a merit-based process of selection

Courses eligible for Baroda Scholar:

  • Technical and professional courses offered for career advancement from reputed universities
  • PG courses such as MS, MCA, and MBA 
  • Professional courses conducted by CIMA in London and CPA in the USA.
  • Degree and diploma courses such as aviation, shipping, and aeronautical are recognized by regulatory bodies pertaining to the field for the purpose of employment in India or abroad.
  • Certificate courses
  • Any of the universities in the premier list of BOB 
  • For management courses: List of premier institutes
  • For STEM courses: List of premier institutes 
  • For medical courses: List of premier institutes
  • For other disciplines: List of premier institutes
  • Universities, not on the list can also be considered

For any queries about any of the mentioned schemes, you can talk to our financial officers by requesting a callback or visiting our website.

Baroda Education Loan for EDP being offered by Premier Institutions abroad

Parameters  Details
Loan Limit Up to 80 Lacs 
Expenses covered - Charges for laboratory, library, and examination
-Insurance premiuim for the applicant 
- Costs of books, instruments, uniforms, and equipment
- Caution fee (only if it's Less than 10% of the loan amount)
-  Tuition fees payable to the institution
- The cost of laptop/ computer
- Other miscellaneous expenses
Accepted co-applicant Parents, parents in law, siblings, parent’s siblings, spouse or first cousins (in the order mentioned)
Interest rate/rate of interest Upto 7.5 Lakhs 10.50%
Above 7.5 Lakhs 10.85%
Moratorium Period Duration of the course + 3 Months 
Repayment Duration 10 to 15 years
Repayment policies Simple interest will be charged during the moratorium period which is compulsory to pay in the moratorium period
Simple interest will be charged during the moratorium period which is compulsory to pay in the moratorium period Simple interest will be charged during the moratorium period which is compulsory to pay in the moratorium period
Eligibility Criteria - Applicant must be a citizen of India 
- Admitted into technical/ professional courses conducted overseas by premier/prime universities in abroad 
- Should be employed and should continue to be employed during studies.

Bank Of Baroda Education Loan Schemes For Studying In India

Baroda Gyan

Parameters Details
Loan Limit maximum Rs. 125 lacs (for medical and aviation courses)
25 lacs for other courses
Can request for a higher amount
Expenses covered
  • Fees to be paid to the institution (tuition fee)
  • Accommodation fee 
  • Examination fee
  • Fee for the library and laboratory 
  • Funds required for books, instruments, and uniforms
  • Caution fee requested by the institution (Not exceeding 10% of the total tuition fee)
  • Purchase of computer or laptop required for the course.
  • Insurance premium for applicants 
  • Any other miscellaneous expenses required 
Accepted co-applicant Parents / Parents -in-law, siblings, Parent’s siblings, spouse, first cousins 
Interest rate/rate of interest
  • 10.45% up to 4 Lakhs 
  • 10.45% from 4 to 7.5 Lakhs 
  • 10.70% above 7.5 Lakhs 
0.50% concession in ROI for female applicants
Moratorium Period Course duration + 6 months 
Repayment Duration 10 to 15 years 
Repayment policies Simple interest is to be paid during the moratorium period and compound interest after the moratorium period
Eligibility Criteria
  • Applicant must be a citizen of India 
  • If the student is an NRI need to be enrolled in a course in India 

 

Courses eligible for Baroda Gyan:

  • Graduation courses such as B.com, BA, B.Sc., etc
  • PG courses such Post-Graduation courses: Masters & Ph.D.
  • Professional courses such as architecture, agriculture, veterinary, medical, engineering dental, computer, law, and other courses.
  • Computer certificate programs/ courses from reputed universities accredited to the branch of electronics.
  • Professional courses such as CA, ICWA, or CFA
  • Programs conducted by IIT, NIFT, IISc XLRI, IIM 
  • Diploma and degree programs such as shipping, aeronautical, pilot training, etc. approved by authoritative bodies of respective industries.
  • Evening courses approved by accredited institutions 
  • Courses approved by the government, ICMR, AICTE, UGC, etc
  • Teacher training programs, B.Ed, and nursing programs can be considered teacher training courses/nursing courses/B. Ed 
  • Depending on the future prospects of the course/ institution other courses can be accepted

Baroda education loan to students of premier institutions

Parameters Details
Loan Limit Up to 80 Lakhs 
Expenses covered
  • Examination fee
  • Hostel fee 
  • Fees to be paid to the institution (tuition fee)
  • Fee for the library and laboratory 
  • Purchase of computer or laptop required for the course.
  • Funds required for books, instruments, and uniforms
  • Insurance premium for applicants 
  • Caution fee requested by the institution (Not exceeding 10% of the total tuition fee)
  • Any other miscellaneous expenses required 
Accepted co-applicant Parents / Parents -in-law, siblings, Parent’s siblings, spouse, first cousins 
Interest rate/rate of interest 8.45% to 10.30%
Moratorium Period Course duration + 1-year 
Repayment Duration 10 to 15 years 
  • For loans up to Rs. 7.5 Lakhs: Moratorium Period + Maximum 120 installments
  • For loans above Rs. 7.5 Lakhs: Moratorium Period + Maximum 180 installments
Repayment policies Repayment of interest in the moratorium period is optional
Eligibility Criteria
  • Should be a resident Indian citizen
  • The process of enrollment into the course must be done through a merit-based entrance exam.

Eligible courses for Baroda education loan to students of premier institutions:

–Full-time courses from premier institutions from the list of institutions 

  • List of the institutions (List-AA, A, B & List-C)

 

Baroda Education Loan for EDP being offered by Premier Institutions in India

Parameters Details
Loan Limit Up to 20 Lacs 
Expenses covered - tuition fees payable to the institution 
- Charges for laboratory, library and examination
- Costs of books, instruments, uniforms, and equipment
- Caution fee (only if it's Less than 10% of the loan amount)
- the cost of laptop/ computer
- insurance premium for the applicant 
- other miscellaneous expenses
Accepted co-applicant Parents, parents in law, siblings, parent’s siblings, spouse or first cousins 
Interest rate/rate of interest For list AA/ A universities-  7.70%
For list B universities- 8.8%  (up to 7.5 Lakhs) and 8.85 (above 7.5 Lakhs)
For list C universities- 9.55%(up to 7.5 Lakhs) and 9.3 % (above 7.5 Lakhs) 
Moratorium Period Duration of the course + 3 Months 
Repayment Duration 10 to 15 years 
Repayment policies Simple interest will be charged during the moratorium period it is mandatory to pay interest in the moratorium period
Eligibility Criteria - Applicant must be an Indian citizen
- Admitted into technical/ professional courses conducted in India by premier universities 
- Should be employed and should continue to be employed during studies.

Skill Loan Scheme

Parameters Details
Loan Limit Up to 1,50,000
Expenses covered
  • Tuition fee/Course fee
  • Examination /Library/Laboratory fee
  • Caution Deposit
  • Cost of Books/Equipment and Instruments
  • Any other reasonable expenditure found necessary for the completion of the course.
Accepted co-applicant Parents / Parents -in-law, siblings, Parent’s siblings, spouse, first cousins 
Bank of Baroda loan interest rate/rate of interest 10.20%
0.50% concession on ROI for girl students
Moratorium Period Courses of duration up to 1 year-Up to 6 months from the completion of the course
Courses of duration above 1 year-12 month from the completion of the course
Repayment Duration
  • Loans up to Rs. 50,000: Up to 3 years
  • Loans between Rs. 50,000 to Rs. 1 lakh: Up to 5 years
  • Loans above Rs 1 lakh: up to 7 Years
Eligibility Criteria
  • Should be a citizen of India 
  • Must meet the qualification criteria  of the university the applicant is applying for.
  • If the student is a minor the loan process must be executed by the parent

Eligible courses

  • Polytechnics or Industrial training universities or institutes 
  • An institution recognized by the state or central board of education
  • In a college that is connected to a recognized university
  • Degree or diploma leading to career advancement from Training partners recognized by NSDC, state skill corporation, state skill mission, sector skill councils Training partners connected to National Skill Development Corporation (NSDC)/State skill Mission, State Skill Corporation, Sector Skill Councils, as per NSQF
  • The applicant should be a citizen of India

Countries And Courses Eligible For Bank Of Baroda Education Loan

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

The 0.5% reduction in your BOB student 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 student loan, BOB interest rate is one of the best rates in the market. Check below the universities that are preffered by Bank of Baroda.

Take the guesswork out of your future and finances - check your loan eligibility with us today.

Prime Universities List For Bank Of Baroda

The Bank of Baroda have a special preference for certain universities around the world according to the course. Below is a specified list which is categorised according to the course and country for your ease.

Bank of Baroda Preferred universities for STEM Courses

Below is a list of preferred universities to pursue STEM courses which is categorised by different countries!

Preferred Universities for STEM courses in the USA

1. Stanford University
2. California Institute of Technology (Caltech)
3. Massachusetts Institute of Technology (MIT)
4. Princeton University
5. Georgia Institute of Technology
6. Carnegie Mellon University
7. The University of California, Berkeley(UCB)
8. The University of Illinois at Urbana-Champaign
9. University of Michigan
10. Cornell University
11. Northwestern University
12. Purdue University West Lafayette
13. Columbia University (Fu Foundation)
14. The University of Texas at Austin
15. University of Texas Austin
16. Harvard University
17. University of California Santa Barbara
18. University of California San Diego
19. Johns Hopkins University
20. University of Wisconsin Madison
21. University of Washington
22. Rice University
23. Ohio State University
24. Pennsylvania State University- University Park
25. Texas A&M University College Station
26. University of Southern California (Viterbi)
27. University of California Davis
28. University of Maryland College Park
29. University of Minnesota Twin Cities
30. Virginia Polytechnic Institute and State University
31. University of Colorado Boulder
32. North Carolina State University
33. University of California Irvine
34. University of Florida
35. Arizona State University
36. Michigan State University
37. University of California, Riverside
38. University of Notre Dame
39. University of Massachusetts
40. Case Western Reserve University
41. University of Virginia
42. University of California, Santa Cruz
43. Boston University
44. Colorado School of Mines
45. Rutgers, the State University of New Jersey
46. Florida State University
47. The University of Tennessee, Knoxville
48. University of Texas Dallas
49. Binghamton University, State University of New York
50. Rensselaer Polytechnic Institute
51. University at Buffalo SUNY
52. Northeastern University
53. University of Connecticut
54. Drexel University
55. The University of Arizona
56. Florida International University
57. George Washington University
58. The University of Hawaii at Mānoa
59. University of Houston
60. University of Nebraska-Lincoln
61. University of Illinois, Chicago (UIC)
62. University of South Carolina
63. University of South Florida
64. Stony Brook University
65. University of Tulsa
66. University of Utah
67. Washington University in St. Louis
68. University of Iowa
69. Syracuse University
70. Tufts University
71. Iowa State University
72. Wake Forest University
73. University of Wisconsin-Milwaukee
74. Washington State University
75. Colorado State University
76. University of Arkansas
77. University of Cincinnati
78. Lehigh University
79. George Mason University
80. Louisiana State University
81. University of Oklahoma
82. University of Maryland, Baltimore County
83. Missouri University of Science and Technology
84. New Jersey Institute of Technology
85. New Mexico State University
86. Old Dominion University
87. Oregon State University
88. Stevens Institute of Technology
89. The University of Texas at Arlington
90. The University of Texas at San Antonio
91. Texas Tech University
92. University of Toledo
93. University of Alabama
94. The University of Alabama at Birmingham
95. Auburn University
96. Marquette University
97. Mississippi State University
98. University of Missouri
99. San Diego State University
100. University of Texas at El Paso
101. Villanova University
102. Wayne State University
103. Baylor University
104. Brandeis University
105. California Institute of Technology
106. Case Western Reserve University
107. City University of New York
108. Dartmouth College
109. Duke University
110. Georgetown University
111. Illinois Institute of Technology
112. Indiana University Bloomington
113. Indiana University-Purdue University--Indianapolis
114. Kansas State University
115. Medical University of South Carolina
116. Michigan Technological University
117. New York University
118. Rutgers University-New Brunswick
119. Temple University
120. Thomas Jefferson University
121. Syracuse University
122. University at Albany--SUNY
123. University of California, Irvine
124. The University of California, Los Angeles (UCLA)
125. University of Central Florida
126. University of Chicago
127. University of Colorado Denver
128. University of Delaware
129. University of Georgia
130. University of Kansas
131. University of Kentucky
132. University of Massachusetts Amherst
133. University of New Mexico
134. University of Pennsylvania
135. University of Pittsburgh
136. University of Rochester
137. Vanderbilt University
138. Virginia Commonwealth University
139. Virginia Tech
140. Yale University
141. Yeshiva University

Preferred Universities for STEM courses in the UK:

1. Cardiff University
2. University of Bath
3. University of Glasgow
4. Cranfield University
5. Imperial College London
6. King's College London
7. The University of Edinburgh
8. The University of Manchester
9. The University of Nottingham
10. The University of Sheffield
11. The University of Warwick
12. UCL (University College London)
13. University of Birmingham
14. University of Bristol
15. University of Cambridge
16. University of Leeds
17. University of Oxford
18. University of Southampton
19. Durham University
20. Queen Mary University of London
21. University of Exeter
22. Lancaster University
23. University of Leicester

Preferred Universities for STEM courses in Taiwan

1. National Cheng Kung University (NCKU)
2. National Taiwan University of Science and Technology (Taiwan Tech)
3. National Taiwan University (NTU)
4. National Tsing Hua University

Preferred Universities for STEM courses in Switzerland

1. EPFL (Ecole Polytechnique Fédérale de Lausanne)
2. ETH Zurich - Swiss Federal Institute of Technology ETH Zurich
3. University of Zurich

Preferred Universities for STEM courses in Sweden

1. Chalmers University of Technology
2. KTH Royal Institute of Technology
3. Lund University

Preferred Universities for STEM courses in Spain

1. Politecnica de Madrid
2. Universitat de Barcelona
3. Universitat Politecnica de Catalunya
4. Universitat Politecnica de Valencia

Preferred Universities for STEM courses in South Korea

1. KAIST - Korea Advanced Institute of Science & Technology
2. Korea University
3. Pohang University of Science And Technology (POSTECH)
4. Seoul National University
5. Sungkyunkwan University (SKKU)

Preferred Universities for STEM courses in Singapore

1. Nanyang Technological University, Singapore (NTU)
2. National University of Singapore (NUS)

Preferred Universities for STEM courses in Russia

1. Lomonosov Moscow State University

Preferred Universities for STEM courses in Portugal

1. The University of Lisbon

Preferred Universities for STEM courses in Norway

1. Norwegian University of Science And Technology

Preferred Universities for STEM courses in New Zealand

1. The University of Auckland

Preferred Universities for STEM courses in the Netherlands

1. Delft University of Technology
2. Eindhoven University of Technology
3. University of Amsterdam

Preferred Universities for STEM courses in Malaysia

1. Universiti Sains Malaysia (USM)
2. Universiti Teknologi Malaysia
3. University of Malaya

Preferred Universities for STEM courses in Japan

1. Kyoto University
2. Osaka University
3. The University of Tokyo
4. Tohoku University
5. Tokyo Institute of Technology

Preferred Universities for STEM courses in Italy

1. Alma Mater Studiorum - University of Bologna
2. Politecnico di Milano
3. Politecnico di Torino
4. Sapienza University of Rome

Preferred Universities for STEM courses in Israel

1. Technion - Israel Institute of Technology

Preferred Universities for STEM courses in Ireland

1. Trinity College Dublin, The University of Dublin

Preferred Universities for STEM courses in Hong Kong

1. City University of Hong Kong
2. The Chinese University of Hong Kong (CUHK)
3. The Hong Kong Polytechnic University
4. The Hong Kong University of Science and Technology (HKUST)
5. The University of Hong Kong

Preferred Universities for STEM courses in Greece

1. National Technical University of Athens

Preferred Universities for STEM courses in Germany

1. Friedrich-Alexander-Universitat Erlangen-Nürnberg
2. Humboldt-Universitat zu Berlin
3. KIT, Karlsruhe Institute of Technology
4. Ludwig-Maximilians-Universität München
5. RWTH Aachen University
6. Technische Universitat Berlin
7. Technische Universitat Darmstadt
8. Technische Universitat Dresden
9. Technische Universitat München
10. Universität Stuttgart

Preferred Universities for STEM courses in France

1. Centrale Supelec
2. Institut Polytechnique de Grenoble - Grenoble Institute of Technology
3. Université Pierre et Marie Curie (UPMC)

Preferred Universities for STEM courses in Finland

1. Aalto University

Preferred Universities for STEM courses in Denmark

1. Aalborg University
2. Technical University of Denmark

Preferred Universities for STEM courses in China

1. Beijing Institute of Technology
2. Fudan University
3. Harbin Institute of Technology
4. Peking University
5. Shanghai Jiao Tong University
6. Tsinghua University
7. University of Science and Technology of China
8. Xian Jiaotong University
9. Zhejiang University

Preferred Universities for STEM courses in Canada

1. McGill University
2. McMaster University
3. Queen's University at Kingston
4. Universite de Montreal
5. University of Alberta
6. University of British Columbia
7. University of Toronto
8. University of Waterloo

Preferred Universities for STEM courses in Belgium

1. Ghent University
2. KU Leuven

Preferred Universities for STEM courses in Austria

1. Vienna University of Technology

Preferred Universities for STEM courses in Australia

1. Curtin University
2. Monash University
3. Queensland University of Technology (QUT)
4. RMIT University
5. The Australian National University (ANU)
6. The University of Adelaide
7. The University of Melbourne
8. The University of New South Wales (UNSW Australia)
9. The University of Newcastle, Australia (UON)
10. The University of Queensland
11. The University of Sydney
12. The University of Western Australia
13. University of Technology Sydney
14. University of Wollongong

Prime Universities for Management programs

The bank of baroda considers the following universities as best for management programs and hence easily provides funding for them!

Preferred Universities for Management courses in the USA

1. Harvard University
2. Massachusetts Institute of Technology: Sloan
3. Stanford University
4. University of Pennsylvania: Wharton
5. University of Chicago: Booth
6. University of California at Berkeley: Haas
7. New York University: Stern
8. Columbia University
9. Yale University
10. University of Michigan: Ross
11. Northwestern University: Kellogg
12. Princeton University
13. Duke University: Fuqua
14. Cornell University: Johnson
15. UCLA ( University of California Los Angeles ): Anderson
16. University of Minnesota: Carlson
17. Arizona State University: Carey
18. Michigan State University: Broad
19. Pennsylvania State University: Smeal
20. University of Maryland: Smith
21. Indiana University: Kelley
22. University of California, San Diego
23. Ohio State University: Fisher
24. University of Southern California: Marshall
25. The University of Texas at Austin: McCombs
26. Texas A&M University--College Station
27. University of Washington: Foster
28. Washington University in St. Louis
29. Dartmouth College: Tuck
30. Boston University: Questrom
31. University of Wisconsin
32. The University of Illinois at Urbana-Champaign
33. University of North Carolina: Kenan-Flagler
34. Boston College: Carroll
35. Georgia Institute of Technology: Scheller
36. Rutgers - The State University of New Jersey, Newark--New Brunswick
37. Georgia State University
38. University of Virginia: Darden
39. Purdue University: Krannert
40. Carnegie Mellon University
41. The University of Texas at Dallas: Jindal
42. University of Arizona
43. University of California--Davis
44. University of Notre Dame: Mendoza
45. University of South Carolina: Moore
46. Babson College: Olin
47. Temple University: Fox
48. University of Florida
49. University of Georgia
50. Northeastern University
51. Georgetown University: McDonough
52. George Washington University
53. Florida State University
54. University of Colorado-Boulder
55. IU Kelley School of Business
56. The University of California at Irvine: Merage
57. University of Houston
58. Syracuse University
59. George Mason University
60. Vanderbilt University: Owen
61. University of Illinois-Chicago
62. University of Pittsburgh: Katz
63. University of Pittsburgh
64. Johns Hopkins University
65. Iowa State University
66. University of Massachusetts-Amherst
67. Virginia Tech
68. North Carolina State University-Raleigh
69. Drexel University
70. University of Alabama
71. Emory University: Goizueta
72. Rice University: Jones
73. Brigham Young University: Marriott
74. Washington University: Olin
75. University of Rochester: Simon
76. University of Iowa: Tippie
77. Southern Methodist University (SMU): Cox
78. California Institute of Technology (Caltech)
79. Brown University
80. The University of California, Santa Barbara (UCSB)
81. Case Western Reserve University
82. Tufts University
83. University of Miami
84. University at Buffalo SUNY
85. University of California, Riverside
86. The Katz School at Yeshiva University
87. Rensselaer Polytechnic Institute

Preferred Universities for Management courses in the UK

1. London School of Economics and Political Science (LSE)
2. University of Oxford: Saïd
3. University of Cambridge: Judge
4. University of Warwick
5. Imperial College Business School
6. University College of London ( UCL )
7. University of Manchester
8. City University: Cass
9. The University of Nottingham
10. Lancaster University Management School
11. University of Leeds
12. Cardiff University
13. University of Bath
14. University of Edinburgh Business School
15. The University of Sheffield
16. University of Sheffield
17. University of York
18. University of Southampton
19. University of Strathclyde Business School
20. University of Birmingham
21. University of Glasgow
22. Durham University Business School
23. University of Exeter
24. Newcastle University
25. London Business School
26. Cranfield University
27. King's College London
28. University of Bristol
29. University of St Andrews

Preferred Universities for Management courses in the Switzerland

1. University of Zurich
2. ETH Zurich – Swiss Federal Institute of Technology Zurich
3. University of St Gallen
4. IMD (International Institute of Mgmt. Development)

Preferred Universities for Management courses in the Spain

1. University of Navarra
2. IE University
3. Ramon Lull University

Preferred Universities for Management courses in the South Korea

1. Sungkyunkwan University GSB

Preferred Universities for Management courses in the Singapore

1. National University of Singapore Business School
2. Nanyang Technological University
3. INSEAD Business School

Preferred Universities for Management courses in Portugal

1. The Lisbon MBA

Preferred Universities for Management courses in the Netherlands

1. Rotterdam School of Management, Erasmus University

Preferred Universities for Management courses in Italy

1. Bocconi University

Preferred Universities for Management courses in Ireland

1. University College Dublin: Smurfit

Preferred Universities for Management courses in Hong Kong

1. Hong Kong University of Science and Technology (HKUST) Business School
2. Chinese University of Hong Kong (CUHK) Business School
3. University of Hong Kong

Preferred Universities for Management courses in Germany

  1. Technical University of Munich
  2. Mannheim Business School
  3. Free University of Berlin
  4. University of Freiburg
  5. Goethe University Frankfurt
  6. ESMT Berlin
  7. Humboldt University of Berlin
  8. RWTH Aachen University

Preferred Universities for Management courses in France

  1. INSEAD Business School
  2. HEC Paris (Ecole des Hautes Etudes Commerciales de Paris)
  3. Edhec Business School
  4. Grenoble Ecole de Management

Preferred Universities for Management courses in China

  1. Peking University
  2. Shanghai Jiao Tong University: Antai
  3. China Europe International Business School (CEIBS)

Preferred Universities for Management courses in Canada

  1. University of Toronto: Rotman
  2. University of British Columbia
  3. University of Alberta
  4. York University
  5. Western University: Ivey
  6. McGill University
  7. McMaster University
  8. University of Montreal
  9. University of Calgary
  10. Queen's University: Smith

Preferred Universities for Management courses in Belgium

  1. KU Leuven
  2. Ghent University

Preferred Universities for Management courses in Australia

  1. University of Melbourne
  2. Monash University
  3. University of New South Wales
  4. University of Sydney
  5. University of Queensland Australia
  6. Australian National University
  7. University of Western Australia
  8. University of Adelaide
  9. James Cook University
  10. Macquarie Graduate School of Management
  11. AGSM( Australian Graduate School of Management ) at UNSW Business School

Prime Universities for Medical programs

Bank of Baroda has the below listed universities in its prime category and so it gives them utmost preference while giving student loan for medical programs.

Preferred Universities for Medical programs in the USA

  1. Boston University
  2. Brown University
  3. Columbia University
  4. Cornell University
  5. Dartmouth College
  6. Duke University
  7. Emory University
  8. Harvard University
  9. Johns Hopkins University
  10. New York University
  11. Northwestern University
  12. Ohio State University
  13. Stanford University
  14. Tufts University
  15. University of California, Berkeley
  16. University of California, Davis
  17. University of California, Los Angeles
  18. University of California, San Diego
  19. University of Chicago
  20. University of Florida
  21. University of Michigan
  22. University of Minnesota
  23. The University of North Carolina at Chapel Hill
  24. University of Pennsylvania
  25. University of Pittsburgh
  26. University of Southern California
  27. The University of Texas at Austin
  28. University of Washington
  29. University of Wisconsin-Madison
  30. Vanderbilt University
  31. Washington University in St Louis
  32. Yale University

Preferred Universities for Medical programs in the UK

  1. Cardiff University
  2. Imperial College London
  3. King’s College London
  4. London School of Hygiene & Tropical Medicine
  5. Queen Mary University of London
  6. UCL
  7. University of Bristol
  8. University of Cambridge
  9. University of Dundee
  10. University of Edinburgh
  11. University of Glasgow
  12. University of Leicester
  13. University of Liverpool
  14. University of Manchester
  15. University of Nottingham
  16. University of Oxford
  17. University of Southampton

Preferred Universities for Medical programs in Taiwan

  1. National Taiwan University

Preferred Universities for Medical programs in Switzerland

  1. University of Basel
  2. University of Bern
  3. University of Zurich

Preferred Universities for Medical programs in Sweden

  1. Karolinska Institute
  2. Lund University
  3. Uppsala University

Preferred Universities for Medical programs in Spain

  1. Autonomous University of Barcelona

Preferred Universities for Medical programs in South Korea

  1. Seoul National University
  2. Sungkyunkwan University (SKKU)

Preferred Universities for Medical programs in South Africa

  1. University of Cape Town

Preferred Universities for Medical programs in Singapore

  1. National University of Singapore

Preferred Universities for Medical programs in New Zealand

  1. University of Auckland

Preferred Universities for Medical programs in the Netherlands

  1. Erasmus University Rotterdam
  2. Leiden University
  3. Maastricht University
  4. University of Amsterdam
  5. University of Groninge

Bank Of Baroda Processing Fee

Bank of Baroda does not charge any processing fee for a loan amount of up to 7.50 Lacs. The processing fee charged above a loan amount of 7.50 Lakhs is refundable. A non-refundable amount of 8500/- is charged for the lawyer and evaluator fees.

Scheme  Processing fee 
Baroda Gyan  1% of the required loan amount (maximum Rs. 10,000)+Applicable GST
Baroda Scholar  1% of the required loan amount (maximum Rs. 10,000)+Applicable GST
Baroda education loan to students of premier institutions  For studies overseas- 1% of the required Loan amount (maximum Rs. 10,000) 
Skill Loan scheme  NIL 
Baroda education loans for EDP being offered by premier institutions in India  NIL 
Baroda education loans for EDP being offered by premier institutions abroad  1% of the entire loan amount ( only a maximum of 10,000 is charged)

The services we provide at WeMakeScholars won't cost you anything, as we don't charge any processing fees. Our organization is funded and supported by the Ministry of IT, the government of India as part of the Digital India campaign, which allows us to offer our services for free to students seeking scholarships and other forms of financial aid.

Documents Required For The Bank Of Baroda Higher Education Loan

We can assist you in avoiding sanction-related issues or delays and saving time by providing you with a customized document checklist that takes into account your unique circumstances and requirements.

Parameters Details
Basic documents for the Applicant (student) and co-applicant and/or Guarantor
  1. BOB Application form Provided by WeMakeScholars financial officer filled in with necessary details.
  2. PAN card has to be provided as proof of identity (a Passport is also required if the applicant is pursuing studies abroad) 
  3. Any of the following can be used as proof of residency: 
    1. Voter ID Card
    2. Passport
    3. Electricity Bill
    4. Telephone Bill
    5. Ration card
    6. Bank account statement
    7. Aadhar

Note: In case the permanent and current addresses of the student are  different two distinct proofs are required.

  • The 6-month bank account statement of the co-applicant (personal or salary)
    • 1 year of salary credits if the co-applicant is salaried
    • 1 yr business transactions if self-employed.
  • Personal Asset & Liability Statement 
   All the documents should be self-attested.
Applicant academic documents 1. Reports/ marksheets and certificates 10th, 12th, and degree
2. Enrollment proof of admission into the course (showcasing the total duration of the course)
3. Fee structure of the program ( For USA, i20 if available)
4. IELTS/GMAT/GRE Scorecard. 
5. University Ranking print-out from 

Financial Co-applicant Income documents 

If Salaried:
1. 3 months' worth of salary slips 
2. 2 years' worth of Form 16
3. Identification card of the employer 
4. Income tax return filed for 2 years 
If Self-employed:
1.  3 years worth of ITR 
2. P&L account and Balance sheet Last 3 yrs 
3. Address proof for business 

Other Documents

1. a letter saying that the co-applicant would be chargeable for any residual costs beyond funding by the loan.
2. The processing fee will be payable with a cheque for Rs. 11,800.
3. additional checks for lawyer and evaluator costs (If they were performed by the bank itself)
4. Property collateral owner’s affidavit on Rs. 20 or 100 stamp paper. 
Note: If the property is owned by more than 1 owner then each of them has to bring an affidavit.

Additional docs 

1. An invoice for expenses such as travel, laptop, etc has to be brought if a loan is being asked for it. 
2. Receipt for any transactions made in advance.
3. Any remaining loan statements from the preceding year.
4. Letter explaining the gap. Sample- on Rs. 100 stamp paper. 
5. If relevant, a letter explaining the lack of co-applicant’s Income tax return
Eliminate the stress of paperwork with our custom document list and breeze through to sanction

Bank Of Baroda Education Loan Insurance

The loan insurance offered by Bank of Baroda ranges from 1-2%.

Loan insurance can turn out to be very helpful in unforeseen circumstances such as the disability or death of the applicant. Without the loan insurance, the co-applicant ends up bearing the entire burden of loan repayment. To avoid that loan insurance must be opted for. 

 

Bank Of Baroda Education Loan Margin

Scheme  Loan margin  
Baroda Gyan  Up to 4 Lakhs: NIL 
Above 4 Lakhs: 5%
Baroda scholar 

For Premier institutes -

  • Up to 4 Lakhs: NIL 
  • From 4 to 7.5 Lakhs: 15%
  • Above 7.5 Lakhs: NIL 

For Non-premier institutions -

  • Up to 4 Lakhs: NIL 
  • From 4 to 7.5 Lakhs: 15%
  • Above 7.5 Lakhs: 10%

Baroda education loan to students of premier institutions

 

Up to 4 Lakhs: NIL 
From 4 to 7.5 Lakhs: 5%
Above 7.5 Lakhs: NIL 

Skill loan scheme 

NIL 

Baroda education loans for EDP being offered by premier institutions in India 

From 4 lakhs to 7.5 Lakhs - 15%

Above 7.5 Lakhs - NIL

Baroda education loans for EDP being offered by premier institutions abroad 

up to 4 lakhs - NIL

Above 4 Lakhs - 5%

The loan margin in Bank of Baroda ranges from 0% to 15%i.e the student has to arrange. For example, if a student has applied for a loan of 40 Lakhs and if the loan margin is 5%, then the loan margin would be 2 Lakhs.

We acknowledge that loan margins can have a considerable influence on borrowing expenses, and we're committed to helping our customers get the most beneficial loan terms and interest rates.

Education Loan Subsidy Schemes

The Indian government will pay the interest due during the moratorium, which is equal to the length of the course plus 12 months, under these programs.

Here are three education loan subsidy schemes in details:- 

Padho Pardesh Scheme

Eligibility:

The applicant is a member of a religious minority (Muslim, Christian, Sikh, Buddhist, Jain, Zoroastrian) and has an annual family income is less than 6 lakhs.

Note: The Padho Pardesh Scheme is no longer in effect as of April 1, 2022. However, the previous beneficiaries as of March 31, 2022, will continue to receive the interest subsidies during the loan's term and its moratorium period.

Central Scheme for Interest Subsidy for Economically Weaker Sections

Eligibility:

The household income of the applicant is less than 4.5 lakhs.

Dr. Ambedkar Central Sector Scheme

Eligibility: 

  • The applicant comes from a financially underprivileged class, and their total annual family income is less than 8 lakhs.
  • The applicant is from the OBC class, and their family makes less than 8 lakhs per year.

How To Apply For An Education Loan From Bank Of Baroda

Offline education loan application process

Step 1: Visit the Bank Of Baroda branch nearest to you and fill in the loan application

Step 2: Your profile will be evaluated and depending on that you will be asked to submit a list of documents.

Step 3: Submit all the documents you are asked for in the BOB branch closest to you

Step 4: After verification of documents the loan amount will be disbursed into your account.

Online education loan application process through WeMakeScholars

Step 1: Fill out the Common Application form for an education loan.

Step 2: You will get a call from one of our financial officers to check your eligibility for the loan. Give them all the details you are asked for. 

Step 3: A comparison of all the loan lenders you are eligible for getting a loan from will be provided to you by your financial officer. 

Step 4: Take those documents and submit them directly to the bank or you can upload them to the WMS secure portal 

Step 5: After you’ve submitted all your documents your file will be logged in. You will be informed of the result of your loan in 2 to 6 days in the case of public banks and 15-20 days in the case of private banks.

Step 6: You will sign the loan agreement after which you can collect your sanction letter. 

Issues while approaching the lenders directly

  • Higher rates of interest 
  • Lack of technological advancement 
  • Lack of awareness about other loan products available on the market
  • No transparency in the process
  • An explanation of the loan process is not provided

Benefits of applying through WeMakeScholars

  • Negotiation on your behalf: When you process your loan with us, we make sure to get you the best possible rate of interest available in the market (0.5% to 2% lower than the bank’s average).
  • Best customer service/support: You can contact us anytime from 9 AM to 9 PM about any queries you have during the loan process. You can contact the WeMakeScholars team for any of the doubts you have, even during the repayment period. 
  • The cashback offered: You will be rewarded with a cashback on the first disbursement to a maximum of INR 3000, as we are supported by the Digital India campaign by applying for your abroad education study loan via WeMakeScholars.
  • Transparency: One of the main reasons to go with WeMakeScholars is for the transparency we provide to the students regarding the whole loan process. Each step of this procedure is clearly explained by our Financial officers. We make sure the students are clearly aware of and understand the whole process before we start processing their loans. 
Experience a seamless study loan application process - apply through WMS and enjoy the benefits of our free services.

Why And How To Transfer Your Education Loan To Bank Of Baroda

  • On transferring your loan to Bank of Baroda you get an ROI that is lesser than what you are currently paying.
  • As we are the largest partners of many reputed public banks, private banks, and NBFCs getting a loan transfer becomes a very easy process. 
  • We make the process even easier by negotiating for you. 

If you're looking for guidance on transferring your loan, our financial officers are here to help and can answer any questions you may have

Get more value for your money with WMS - we offer automatic ROI reduction and negotiation to help you save on your student loan.

Bank Of Baroda Loan Repayment Process

In Bank of Baroda, the moratorium lasts for the course duration plus an additional 6 to 12 months. 

For example, if you take out a loan of 24 Lacs, with an interest rate of 8.5% and with a repayment tenure of 10 years, this would be your amortization schedule.

  • Monthly EMI: 34,317
  • Total payment: 41,18,067
  • Total payable interest: 17,18,067
# EMI Interest portion  Loan Outstanding Principal portion
End of 1st year 34317 18418 15899 2584254
End of 2nd year 34317 17012 17305 2384444
End of 3rd year 34317 15483 18834 2166972
End of 4th year 34317 13818 20499 1930278
End of 5th year 34317 12006 22311 1672662
End of 6th year 34317 10034 24283 1392275
End of 7th year 34317 7888 26430 1087105
End of 8th year 34317 5551 28766 754960
End of 9th year 34317 3009 31308 393457
End of 10th year 34317 241 34076 0

WeMakeScholars is committed to providing students with comprehensive and dependable services, and our post-sanction support is just one of the ways we strive to simplify the study loan application process.

Our post-sanction assistance can help you avoid unnecessary delays in disbursing your higher studies loan.

Education Loan FAQs

  • What is the tax benefits on Education loan from Bank of Baroda

    There are 3 types of tax benefits that can help you to save a considerable amount of saving on your education loan:- 1) Under section 80E of the Income Tax Act 1961, the complete interest amount of a student loan can be claimed as a tax-free expense which means up to your effective interest rate will be 30% less than quoted. 2) Under section 80C of the Income Tax Act 1961, an individual can claim an interest portion of up to 1.5 lacs from the total taxable income. 3) TCS on foreign remittance: When you send money abroad, you need to pay TCS on foreign remittance. TCS is 5% if you are sending money from your own account and it is 0.5% only if money is coming through an education loan, so there is a saving of 4.5% on foreign remittances.

  • Can my brother be my co-applicant if my parents have passed away?

    Yes, your brother can be your co-applicant

  • Does BOB provide education loans for MBBS?

    Yes, under their Baroda Gyan scheme BOB provides education loans for MBBS

  • Is there an age limit to getting an education loan in BOB?

    There is no age limit for getting an education loan in BOB.

  • Can I get a loan under the Baroda scholar scheme without collateral/property?

    No, you cannot get an education loan without collateral under the Baroda scholar scheme.

  • How long does it take BOB to process a loan?

    The loan processing in BOB can take around 1.5 months.

NEWS

Bank of Baroda's market capitalization surpasses Rs 1,00,000 Crore

Bank of Baroda (BOB) witnessed a 3.13% surge in its stock price, reaching Rs 194 on the BSE. Among PSU banks, State Bank of India (SBI) is the only other institution with a market capitalization of Rs 1 lakh crore or higher, while private lenders such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank have market capitalizations ranging up to Rs 9 lakh crore.

The bank is regarded as one of the leading PSU banks, boasting a global loan book of Rs 9.7 lakh crore and displaying better operational metrics among its peers. Bank of Baroda has an extensive nationwide presence with 8,200 branches and a notable international presence through its joint ventures and subsidiaries, which contribute to 18% of its total business.

Last update - 20/06/2023

Bank of Baroda Unveils Special Festive Rates: Education Loans at Just 8.55% P.A. with No Collateral

Bank of Baroda (BoB) has launched its "BOB Ke Sang Tyohaar Ki Umang" festive campaign until December 31, 2023. This campaign offers attractive interest rates on various loans, with a focus on education loans. 


BoB is offering education loans starting at a competitive rate of 8.55% p.a. This rate includes a discount of up to 60 basis points. The move to provide reduced interest rates and waive the need for collateral underscores BoB's commitment to supporting education and easing the financial burden on students pursuing higher studies.

Home loans start at 8.40% p.a. with waived processing fees, car loans begin at 8.70% p.a., and personal loans from 10.10% p.a. with an 80 basis point discount and no processing fees. BoB now offers fixed and floating interest rates for personal and car loans.

BoB introduces four new savings accounts, including a zero-balance account for students and a lifetime no minimum balance account. There's also the BOB SDP (Systematic Deposit Plan), a recurring deposit scheme with festive benefits.

Debit and credit cardholders can enjoy exclusive discounts and offers on electronics, travel, food, fashion, and more through BoB's partnerships with leading brands.

Last Updated - 15/09/2023