Don't let your desires stop you, get all kinds of help regarding education, apply for education loan and let your career soar. Education loan is such an important thing which is necessary in everyone's life.

Every person can take this loan in their life.

We all know that not everyone in our country is rich enough to enable their children to get higher education, but it is the dream of every parent and children to have higher education like others, But despite being intelligent, he is not able to get education, the main reason for this is the lack of money.

Quality education is very important for a complete and successful life of a person. For some people, it may be a graduation from a top institute. In an era when the cost of education is increasing continuously, the cost of studying in top institutes of the country and abroad is very high.

Features of Bank of Baroda education loan:-

The loan amount can be up to 1 crore for international students and 50,0000 rupees for domestic students.

Preferential foreign exchange rates may be available for international payments.

Bank of Baroda offers a wide range of education loans at attractive interest rates with repayment terms of up to 15 years.

Parents must be co-applicants of the education loan.

100% financing is available under certain conditions.

No collateral needs to be provided for up to Rs. 40.00 lakhs for the identified premier institutes.

Funding covers other costs, such as student travel costs and laptop computers.

 

Bank of Baroda Education Loan Interest Rates 2023

Scheme - Baroda Vidya
Interest rate- 12.50%

Scheme- Baroda Gyan
Interest rate-11.05% to 11.15%

Scheme- Baroda Education Loan to Students of Premier Institutions (Studies in only India)
Interest rate-9.15% to 10.20%

Scheme- Baroda Scholar
Interest rate-10.40% to 11.15%

Scheme- Baroda Executive Development Premier Institutions (Studies in only India)
Interest rate-9.15% to 10.20%

Scheme- Baroda Executive Development Premier Institutions (Studies overseas)
Interest rate-11.15% to 11.50%

Scheme- Baroda Skill Loan Scheme
Interest rate- 10.65%

 

Process to apply for an education loan:-

Applying for an education loan online has become very easy these days. You can apply for an education loan online from any of the financial company or bank.

If you want to save your time then opt for online loans from GRD India financial services Through the mention link: www.grdindia.in you can apply in a matter of minutes from GRD India. The mode of GRD INDIA online application is Following below:-

You can directly check our website www.grdindia.in for education loan you can apply from GRD INDIA official website as mentioned above.

You will be shown offers from multiple banks/lending institutions based on your loan approval probability.

Now compare various options on parameters like interest rates, processing charges, prepayment charges and ratings and choose the best loan offer for you.

Fill in some other basic information asked in the online form, so that the home loan application can be sent to the bank/ loan institution chosen by you.

Upload documents or set date and time to deliver documents.

After these steps it's time for verification, you will get a call from the agent.

Discuss your all doubts from agent and there will be some basic formalities, complete them as directions.

After the verification is successful, the loan will be approved and the loan amount will be disbursed to your loan account.

 

What is Education Loan Eligibility Criteria in Bank of Baroda?

If you want to get loan for your higher education in India or abroad, our firm is providing you an education loan. Before applying the loan, you must fulfill the mentioned eligibility criteria.

 

Applicable for students who:

Are Indian citizens with 18 years of age or above.

Get a certain admission before final disbursement of the loan amount.

Added a co-borrower who is residential in India.
(Co-applicant is mandatory like, your - parents/ Guardian & Spouse etc).

Your admission should be confirmed in college/ University recognized by UGC/ Govt./ AICTE or in a foreign university.

Loan is available for graduation and post graduation. Some banks provide this loan for vocational training also.

 

They also require co-borrowers to meet the following criteria:

He must be an citizen of India and also should be a parent, legal guardian, sibling or other blood relative.

He must have a bank account in India that allows him to sign cheques.

Must be the primary leventor.

Apart from this, loan can be taken for graduation or post graduation studies in engineering, management, medical, hotel management and architecture etc.

 

What does education loan cover?
-100% college tuition fees.
-Accommodation charges including mess.
-Exam and library fee.
-Books and equipment (Laptop etc)
-Travelling expenses for abroad.

 

Required documents for an education loan from Bank of Baroda:-

Documents Required from Student:

Here is the mandatory list of documents required for an education loan by the banks from a student: 

1. Student-Applicant:

Proof of Identity (Any one):

Proof of Residence/ Address (Any one): Passport mandatory in case of Studies Abroad

 

Academic Records:

10th Result & 12th Result, Graduation Result- Semester-wise (if applicable)

Entrance Exam Result through which admission is being taken (e.g. CAT, CMAT, JEE, NEET, CET, GMAT, GRE, TOEFL, etc.)

 

Proof of admission: Offer Letter or Admission Letter from the Institution. Conditional admission letter may be considered in case of studies abroad.

Statement of cost of study/ Schedule of expenses

College / Course prospectus (if available)

2 passport-size photographs

A/C statement for last 1 year in case of any previous loan from other Banks/Lenders

Education Loan Documents for Co-Applicant/ Financial Co-Applicant/ Guarantor

1. Co-applicant/Guarantor:

Proof of Identity (Any one):

Proof of Residence/ Address (Any one):

2 passport-size photographs

A/C statement for last 1 year in case of any previous loan from other Banks/Lenders

 

III. Income Proof for Salaried Co-applicant/ Guarantor:

Salary Slip or Salary Certificate

Copy of Form 16 and IT Returns acknowledged by IT Dept.

Bank account statement for last 6 months (of Salary Account)

1.Income Proof for Self-employed Co-applicant/ Guarantor:

Business address proof (If applicable)

IT Returns acknowledged by IT Dept., TDS Certificate (Form 16A, if applicable)

Bank account statement for last 6 months

1.Property /Other Security Documents