Bank of Baroda Education Loan

Bank of Baroda Education Loan Interest Rates

Mentioned below are the floating and fixed rates of various education loan schemes: 

Note: The interest rates are effective from 08 October 2026.

Depending on the kind of loan that has been taken out, a maximum loan amount may be offered. To find out the maximum loan amount that would be offered, get in touch with Bank of Baroda.

Benefits of Bank of Baroda Education Loan

The benefits of applying for a student loan with Bank of Baroda include the following:

• Minimal interest rate

• Reduced paperwork
• Zero processing charges up to Rs.7.50 lakh
• Faster Payment
• There are no upfront fees
• No fees for early closure

• 0.5% of the discount is for female students

Bank of Baroda Education Loan Schemes

Baroda Vidya

• Interest Rate: 11.25% p.a.
• Processing Fee: Nil
• Collateral: No collateral or security needs to be provided
• Loan Tenure: A loan must be taken out each year and repaid in twelve instalments. Twelve months after the initial payout has been made, the first instalment is due.
• Eligibility: The eligibility criteria that must be met in order to avail the loan are mentioned below: 
  • Must be an Indian citizen.
  • The student must have secured admission to a recognised school.
  • The loan will be granted in the name of the student's father or mother.

Baroda Gyan

• Interest Rate: 11.00% p.a. to 11.80% p.a.
• Processing Fee: Above Rs.7.5 lakh, 1% of loan amount up to Rs.10,000
• Collateral: The collateral that must be provided will depend on the loan amount and is mentioned below:
  • Up to Rs.7.50 lakh: No security needs to be provided. However, the co-obligation of a parent is required.
  • Above Rs.7.50 lakh: Collateral needs to be provided.
• Loan Tenure: 10 years to 15 years
• Eligibility: The individual must join one of the below-mentioned courses in order to avail the loan: Graduation courses post-graduation courses Professional courses Management courses Computer certificate courses Courses such as Chartered Financial Analyst (CFA), Chartered Accountant (CA), Institute of Cost and Works Account (ICWA) Diploma courses Teachers training courses
  • Graduation courses
  • Post-Graduation courses
  • Professional courses
  • Management courses
  • Computer certificate courses
  • Courses such as Chartered Financial Analyst (CFA), Chartered Accountant (CA), Institute of Cost and Works Account (ICWA)
  • Diploma courses
  • Teachers training courses

Baroda Education Loan to Students of Premier Institutions (For Studies in India)

• Interest Rate: 9.30% p.a. to 11.45% p.a.
• Processing Fee: Nil
• Collateral: Depending on the category of the institution, the collateral that must be provided will vary. Given below is the collateral that must be provided for different categories: 
  • Up to Rs.40 lakh (List AA), Rs.30 lakh (List A), Rs.15 lakh (List B) and Rs.10 lakh (List C): Collateral is not required to be given. Nonetheless, the guardian or parents' co-obligation and the student's potential earnings have to be disclosed. 
  • Above these limits: Collateral worth 100% of the loan amount as well as the assignment of future income must be provided.
• Loan Tenure: Up to 15 years.
• Eligibility: The eligibility criteria for Education Loan that must be met are mentioned below:
• Must be an Indian citizen. Must have secured admission for technical/ professional courses abroad via the Merit-Based Selection process or Entrance Test.

Baroda Scholar : BOB Education Loan for Abroad

• Interest Rate: 10.45% p.a. to 12.45% p.a.
• Processing fee: 1% of the loan amount, a maximum of Rs.10,000 will be charged. However, this amount is refundable after the first disbursement for premium institutions. Rs.8,500 will be charged per property and will be taken upfront. This amount is non-refundable.
• Collateral: Depending on the amount of loan that has been availed, the collateral that must be provided will vary. Given below is the collateral that must be provided for different loan amounts:

Up to Rs.4 lakh: No security needs to be provided.

Above Rs.4 lakh and up to Rs.7.50 lakh: Third-party guarantee must be provided as collateral. Assignment of future income must also be provided.

Above Rs.7.50 lakh: Collateral security worth 100% of the loan amount must be provided as collateral. Future income of the student must also be provided to show that future payments can be made.

• Eligibility: Individuals who have received admission in one of the below-mentioned courses can avail a loan: 

Graduation courses offered by reputed universities post-graduation courses Courses offered by Certified Public Accountant (CPA) in the USA, CIMA London, etc. Regular Diploma/Degree courses Premier institutions that offer Management courses Premier institutions that offer STEM Courses Premier institutions that offer medical courses must be an Indian citizen must have secured admission to technical/ professional courses via the Merit-Based Selection process or Entrance Test.

• Loan Period: Up to 15 years
• Documents required:

Complete Know Your Customer (KYC) of the applicant

Academic records

Admission proof

Entrance Exam Result (if applicable)

Statement of cost of study/ Schedule of expenses

Proof of income for Salaried Co-applicant/ Guarantor (if applicable)

Bank account statement for last six months

Property Documents (if applicable)

Skill Loan Scheme

• Interest Rate: 9.40% p.a.

• Processing Fee: NIL 

• Tenure: Up to 7 years depending on the loan amount

Loans up to Rs.50,000: Up to three years

Loans between Rs.50,000 to Rs.1 lakh: Up to five years

Loans above Rs.1 lakh: Up to seven years

• Security: No collateral or third-party guarantee is required
• Disbursement: Directly to the institution
• Insurance: Group credit life insurance cover is optional and is taken at the option and cost of the borrower. The cost of the insurance premium may be added to the project cost and recovered along with the EMIs

Baroda Executive Development Premier Institutions (For Studies in India) 

• Interest Rates: 11.45% p.a. to 12.25% p.a.

• Processing Charge: NIL 

• Tenure: 15 years 

• Security: Up to Rs15 lakh- no collateral 

Above Rs.15 lakh: 100% collateral security for the full value of the loan amount 

• Margin: No margin on loans up to Rs.4 lakh 

• Eligibility: 

Executive Development Programmes (part-time/weekend/online) India offered by premier institutions listed under list AA, A, B, and C of premier institutions of India. Includes programmes offered using the technology platform of Hughes Global Education, Times Pro, etc. 

The applicant must be a resident of India. 

Must secure admission in professional/technical courses in India offered by premier institutions listed. 

Must be gainfully employed and continue to be in gainful employment during study. 

Baroda Executive Development Premier Institutions (For Studies overseas)

• Interest Rates: 11.00% p.a. to 11.45% p.a.

• Processing Charge: NIL 

• Service Charge: 1% of the loan amount (maximum Rs.10,000) to be recovered upfront, which will be refundable upon the first disbursement of the loan. 

• Tenure: 10 to 15 years 

• Quantum of Finance: 80 lakhs 

• Margin: For premium institutes:  

Up to Rs.4 lakh: NIL 

Above Rs.4 lakh up to Rs.7.50 lakh: 15% 

Above Rs.7.50 lakh: NIL 

• Moratorium Period: Course period+3 months 

• Security: Up to Rs.4 lakh Co obligation of parent no security 

Above Rs.4 lakh to Rs.7.5 lakh: Collateral in the form of a suitable third-party guarantee. 

Above Rs.7.5 lakh: Tangible collateral equal to 100% of the loan amount. 

• Eligibility: 

Executive development programs (part-time/weekend/online/distant learning) abroad offered by premier institutions as listed under the list of premier institutions. 

Must be a resident of India 

Must secure admission in Executive Development Programmes offered by premier institutions abroad. 

Must be gainfully employed and continue to be in gainful employment during study. 

Higher Education and Skill Development Guarantee Scheme for Pursuing Higher Education in Delhi

• Interest Rates:  Up to Rs.7.5 lakhs: BRLLR + 2.00 % p.a.
• Above Rs.7.5 lakhs: BRLLR + 1.75 % p.a. 
• Processing Fee: NIL 
• The Higher Education and Skill Development Guarantee Scheme intend to give deserving students in Delhi who wish to pursue higher education financial assistance via the banking sector.
• Guarantee fee: 0.50% of the outstanding amount 

• Eligibility: Under this initiative, students who have finished their Class X and Class XII in Delhi and wish to participate in certificate, degree, or targeted skill development programs that are eligible.

Baroda Medi Elite

• Interest Rate: 7.20% p.a. to 7.90% p.a., depending on the category of the institution 

• Processing Fee: Nil 

• Collateral: No collateral is required. A parent or guardian must co-obligate the loan. 

• Loan Amount: Rs.2 lakh to Rs.40 lakh 

• Loan Tenure: Course period plus one year as the moratorium, followed by repayment of 10 to 15 years 

• Eligibility: Indian nationals pursuing full-time medical courses at premier institutions in India who have secured a NEET rank of up to 1,00,000 for UG or 51,000 for PG. 

bob Eco-Saarthi

• Interest Rate: 6.85% p.a. to 8.40% p.a. for institutions covered under the Pradhan Mantri Vidyalaxmi Scheme and Bank of Baroda premier institutes; BRLLR + 2.00% p.a. up to Rs.7.50 lakh and BRLLR + 1.90% p.a. above Rs.7.50 lakh for other institutions 

• Processing Fee: Nil up to Rs.7.50 lakh; above Rs.7.50 lakh, 1% of the loan amount (maximum Rs.10,000 plus GST) 

• Collateral: Nil for institutions covered under the Pradhan Mantri Vidyalaxmi Scheme and Bank of Baroda premier institutes, and for other institutions up to Rs.7.50 lakh; 100% collateral security above Rs.7.50 lakh for other institutions 

• Loan Amount: Up to Rs.25 lakh 

• Loan Tenure: Course period plus one year as the moratorium, followed by repayment of 10 to 15 years 

• Eligibility: Resident Indians admitted to a recognised institution for Environmental, Social and Governance (ESG) courses approved by UGC, government bodies or AICTE. 

Bank of Baroda Processing Fee

For loans up to Rs.7.50 lakhs, Bank of Baroda does not charge any processing fees. Above a loan amount of Rs.7.50 lakhs, the processing fee is 1% of the loan amount, subject to a maximum of Rs.10,000, and is refundable on the first disbursement for premium institutions. The fees for the attorney and evaluator are charged in the amount of Rs.8,500.

Bank of Baroda Education Loan EMI Payment Options

You can repay your Bank of Baroda education loan in one of the following three ways:

• If you already have an account with the Bank of Baroda, a Standing Instruction (SI) is the best method of repayment. The Bank of Baroda account you designate will automatically be debited of your EMI amount at the conclusion of the monthly cycle.
• If you would like your EMIs to be automatically deducted from your non-Bank of Baroda account at the conclusion of each month, you can opt for the Electronic Clearing Service (ECS) mode.
• Postdated EMI cheques can be delivered to the Bank of Baroda Loan Centre that is most convenient for you, from a bank account other than a Bank of Baroda. A fresh set of PDCs needs to be submitted on time. Please be advised that postdated cheques can only be picked up at non-ECS locations.

Bank of Baroda Education Loan Calculator

The monthly payments for education loans can be computed using the EMI calculator available on BankBazaar. The calculator saves time and is easy to use. To determine the EMI, you'll need to know the loan amount, length, interest rate, and processing charge. 

The results are immediately apparent. The outstanding balance, interest paid, and principal paid are all visible facts.

How to Apply for Bank of Baroda Education Loan?

The step-by-step procedure to apply for an education loan is mentioned below:

Step 1: Visit Bank of Baroda's official website.

Step 2: Click on 'Education Loan'. The option can be found under the 'Loans' tab.

Step 3: On the next page, click on 'Apply Now'.

Step 4: You will be redirected to the Vidyalakshmi portal.

Step 5: Click on 'Apply Now'.

Step 6: Next, complete the registration process and click on submit.

Step 7: A Bank of Baroda representative will contact you to process the request.

How to Apply for Bank of Baroda Education Loan Offline?

Step 1: Fill out the loan application at the Bank of Baroda location that is closest to you.

Step 2: After your profile is reviewed, you may be asked to submit several documents.

Step 3: Submit all required documentation to the BOB branch that is most convenient for you.

Step 4: The next step is the disbursement of the loan proceeds into your account following documentation verification.

Bank of Baroda Education Loan Documents Required

Depending on the loan, the documents that must be submitted will vary. The main documents that must be submitted when you apply for an education loan are mentioned below:

• Application form
• Passport-size photographs
• Proof of admission
• Income proof of the co-borrower or guarantor
• Collateral documents
• Bank statements
• Academic Documents:
  The below-mentioned academic documents must be submitted:
  • 10th and 12th exam marks cards
  • Marks cards of any further education
  • Entrance Exam mark sheet
  • Mark sheets of GRE/IELTS/TOEFL/GMAT
  • Any scholarship documents if applicable
• Address Proof:
  Any of the below-mentioned documents may be provided as proof of address:
  • Voter's ID
  • Driving License
  • Aadhaar Card
  • Passport
• Identity Proof:
  Any of the below-mentioned documents can be submitted as proof of identity:
  • PAN Card
  • Aadhaar Card
  • Passport
    
  • Voter's ID
  • Driving License

Any other document that has been requested by the bank must also be submitted.

Documents Required by a co-applicant

• Identity Proof:

PAN/ Passport/ Driver’s License/ Voter ID card

• Address Proof:

Phone bill, electric bill, water bill, gas bill, passport, voter ID, driving license or aadhaar card

• 2 Recent passport-size photographs
• Legal documents of the collateral Property documents

• Income Proof for Salaried Co-Applicant/Guarantor

Salary slips (last 3 months)

Copy of Form 16 (last 2 years)

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

• Income Proof for Self-employed Co-Applicant/ Guarantor

Business address proof (If applicable)

Last 2 years IT returns

TDS Certificate (Form 16A, if applicable)

Certificate of qualification (for C.A./ Doctor and other professionals)

Bank Account statement for the last six months

Bank of Baroda Education Loan Subsidy Details

• Central Scheme of Interest Subsidy for Education Loans is for Students from the section with the lowest income I.e., Economically Weaker Section (EWS). They get a subsidy on interest for the moratorium period.
• Dr. Ambedkar Central Sector Scheme is for Students belonging to Economically Backward Classes (EBC) and Other Backward Classes(OBC). They get a full waiver on the interest during the moratorium period.
• The Pradhan Mantri Vidyalaxmi Scheme offers collateral-free and guarantor-free education loans with no upper cap on the loan amount to meritorious students admitted to listed quality higher educational institutions. Students with annual family income up to Rs.4.5 lakh receive full interest subvention for technical and professional courses, while those with annual family income above Rs.4.5 lakh and up to Rs.8 lakh receive 3% interest subvention.

Things to consider While applying for a Bank of Baroda Education Loan

In order to expedite your application for a student loan, we will outline common roadblocks that you should be aware of below:

• Procedure Timeout: Usually, an application is sent to a particular Bank of Baroda branch. It's noteworthy that most branches do not choose to grant your request for a student loan. The branch just compiles all supporting documentation before forwarding your applications to the Specialised Mortgage Store (SMS), a specialised back-end office that evaluates loan applications.
• Technical problems with the Property: Assessing the applicant's property requires a significant amount of time and work on the part of Civil Engineers working under the appointed supervision of Bank of Baroda. Prior to determining the property's market value, fair price, and distress sale price, civil engineers measure, inspect, and assess the property's age and location. Because of this, the civil engineer's Turnaround Time (TAT) can differ significantly. But with our meticulous follow-up, we finish this stage in three business days. 
• Legal Concerns Regarding the Property: Advocates appointed by Bank of Baroda must verify the applicant's property and the supporting legal documents for the loan to be approved. The Turnaround Time (TAT) of the bank and the advocates, however, is high, meaning that when they discover inconsistencies in the property or related documents, the involved officials frequently postpone the verification process.

Summary

The Bank of Baroda education loan offers scheme-wise options such as Baroda Vidya, Baroda Gyan, Baroda Scholar and the Premier Institutions loans for studies in India and abroad, with repayment of up to 15 years. Check the eligibility, interest rate table, charges and documents above to pick the scheme that suits your course. You can then apply online through the Bank of Baroda or Vidyalakshmi portal, or offline at your nearest Bank of Baroda branch. 

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