Education loan from Bank of Baroda

• Eligibility for Loan: The applicant should be a citizen of India and secured admission to the course. No minimum marks required and loans are provided for all recognized courses.
• Expenses Covered: The loan covers all expenses incurred during the study period like tuition fees, boarding and lodging, books, study tours, laptops, travel or any other requirement.
• Loan Upper limit: For studying abroad, the student gets a maximum loan of Rs 10 Lac for an UG course and 15 Lac for PG education. The margin money in this case is 15%
• Rate of Interest: For education loans to study abroad, the rate of interest is Rs 12% for less than 4 Lac and 14% for any loan amount up to a maximum of Rs 15 Lac.
• Repayment Period: It needs to be paid a year after the completion of the course or six months after finding a job, whichever is earlier. Then, the loan has to be paid back within a period of five years.
• Security: Up to Rs 4 Lac no security is required. Between 4-7.5 Lac, a third party guarantee & assignment of future income is needed. Up to 15 Lac, 100% collateral security is mandated