Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...

Terms & Conditions

Eligiblity of Courses :

Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.

Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.

Student Eligiblity :

* Should be an Indian National.

* Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.

Coverage of expenses (for overseas studies) :

* Admission/Tuition fees to College/University.

* Hostel/Mess charges.

* Examination/Library/Laboratory fee.

* Purchase of books/equipments/instruments.

* Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.

* One way travel expenses/Passage money.

* Purchase of computers if essential for completion of the course.

* Any other expense required to complete the course e.g. study tour, project work, thesis etc.

Maximum amount of loan : Rs. 20.00 Lacs.

Margin : 15%

Repayment Period :

Repayment Holiday/Moratorium Period :

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

The loan is repayable in 5-7 years after the above period.

Security :

* Upto Rs.4.00/- 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 during repayment holiday/moratorium period.

* 1% interest concession, if interest debited during the repayment holiday is serviced.

* 1% Concession in rate of interest to loans for girl student.

* Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

* PRESENT RATE OF INTEREST: CLICK HERE.

PROCESSING CHARGES: (CLICK HERE FOR DETAILS)

More detail visits: Baroda Scholar