Baroda Gyan
A loan product specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India. Bank of Baroda extends a helping hand to energize your studies and promote education of the youth.

• No processing charges.
• No Margin on loans upto 4 lacs.
• Free Debit Card.

Terms & Conditions

Courses Eligible :

• All Graduation courses.
• All Post Graduation courses & Doctorate courses.
• Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
• Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
• Courses like C.A, ICWA, CFA, CS, etc.
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
• Regular Degree/ Diploma courses like Aeronautical, pilot training,
• shipping etc., approved by Director General of Civil Aviation/shipping.
• Other courses leading to diploma / degree etc. conducted by colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc.
• Courses offered in India by reputed foreign Universities.
• Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.
• Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.

Student Eligiblity :

• Should be Resident Indian.
• Secured admission to either of above courses
• A meritorious student (who qualifies for a seat under merit quota) will also be eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.
• or courses under Management Quota Seats considered under the scheme, fees as approved by the State Government/ Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
• Additional concession of 1.00% to the students who have sought admission in premier institutions viz. IIMs, IITs, IIFT, AIIMS, AFMC , ISB, NITs, XLRI, MDI, SPJIMR, IISC, SPJIM

Coverage of expenses :

• Fee payable to college / Institution / University.
• Examination / Library / Laboratory Fee.
• Fee and other charges payable to hostel.
• Purchase of books / equipments / instruments.
• Personal Computers / Laptops wherever required.
• Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
• Any other expenses required to complete the course - like study tours, project works, thesis, etc.

Maximum Loan Amount : Rs.10.00 Lacs.
Margin :

• Upto Rs. 4.00 lacs :- NIL
• Above Rs. 4.00 lacs :- 5%
• Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.

Repayment Holiday / Moratorium Period :

• Course period + 1 year or 6 months after getting job, whichever is earlier.

Repayment Period :

• Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs
• Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

Security :

• Upto Rs.4 lacs : No security
• Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
• Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income

Rate of Interest :

• Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
• 0.50% Concession in rate of interest to loans for girl student.
• Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
• For loans above 4 lacs, interest rate will be 2 % above base rate for ISB, Hyderabad Students which is 2 % less than that for students of other institutes
• FOR PRESENT RATE OF INTEREST: Visit Branch

Disclaimer:
     Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.