BoB, Bank of Baroda Education Loans

Being one of the largest banks in India, Bank of Baroda (BoB) offers a range of education loans to different segments of the student population. BoB offers eight education loan products, each for a particular student segment or purpose. This is in keeping with the bank’s status as a nationalised bank and its large footprint across the country. Moreover, no loan under Rs. 4 lakh needs any form of security or collateral.

The eight education loan products from Bank of Baroda are:

1. Baroda Vidya (Education from Nursery to XII)
2. Baroda Gyan (Higher Study in India)
3. Baroda Scholar (for Study Abroad)
4. Baroda Education Loan to Students of Premier Institutions
5. Baroda Education Loan for Executive Development Programmes offered by Premier Institutions in India
6. Baroda Education Loans for Executive Development Programmes offered by Premier Institutions Abroad
7. Skill Loan Scheme
8. Higher Education & Skill Development Guarantee Scheme for Delhi Students

In addition, the bank offers three Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students. These three schemes are:

1. Central Scheme of Interest Subsidy for Education Loan,
2. Padho Pardesh Scheme of Interest Subsidy for Education Loans, and
3. Dr. Ambedkar Central Sector Scheme of Interest Subsidy for Educational Loans

We give you a brief intro to each below. In addition you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.

Baroda Vidya (Education from Nursery to XII)

The loan helps people educate their children up to Class 12, so they become eligible for undergraduate courses. The maximum loan you can get is Rs. 4 lakh.

Features of Baroda Vidya Education Loan for Children from Nursery to Class 12

Why this Loan?

• The loan is meant to help schoolchildren complete their school education
• The loan is disbursed as a series of payments over the required number of years and not as a lump sum
• The loan can be taken for all school fees including for purchase of books, laptops, uniforms, hostel fees, etc. However, the bank does not provide its Baroda Vidya Education Loan for external coaching or tuition

Baroda Gyan (Higher Study in India)

This loan is meant for students pursuing graduate, postgraduate and professional studies from recognised institutes in the country. The maximum loan amount is capped at Rs. 80 lakh for medical and aviation courses and at Rs. 60 lakh for all others.

Features of Baroda Gyan Education Loan for Higher Studies in India

Why this Loan?

• The loan is meant for you if you have gained admission into a Bachelors, Masters, Doctorate (PhD) or a professional studies programme in the country
• The loan can also be taken if you have enrolled for a course offered by foreign universities in India
• You can also take this loan if you a student in an evening college
• The Baroda Gyan Education Loan for Higher Studies in India is disbursed to the institution as required to pay the fees or other approved charges
• The loan is disbursed as a series of payments over the required number of years and not as a lump sum

Baroda Scholar (for Study Abroad)

This loan helps students pursue notified courses such as an MBA, MCA, MS, etc. that improve their chances of landing a job. The maximum loan amount is capped at Rs. 80 lakh for specified institutes and at Rs. 60 lakh for non-specified institutes.

Features of Baroda Scholar Education Loan for Higher Studies Abroad

Why this Loan?

• The loan is meant for you if you have gained admission into a notified course such as a professional or technical graduate or postgraduate course, an MBA, MCA, MS, etc. that improve your chances of landing a job
• The bank disburses the Baroda Scholar Education Loan as a series of payments over the required number of terms or years to pay the fees or other approved charges

Baroda Education Loan to Students of Premier Institutions

This loan helps students who have gained admission into premier educational institutions in India to pay for their course fees. The maximum loan amount that you can apply for is Rs. 80 lakh with security. The maximum loan you can get without security depends on Bank of Baroda’s categorisation of the institute.

Features of Baroda Education Loan to Students of Premier Institutions

Why this Loan?

• The loan is meant for you if you have gained admission into a graduate, post-graduate, PhD, professional or any other course in a premier educational institution in India
• The bank disburses the Baroda Education Loan to Students of Premier Institutions as a series of payments over the required number of terms or years to pay the course fees or other approved charges

Baroda Education Loan for Executive Development Programme (EDP) from Premier Institutions in India

This loan helps students who have gained admission into Executive Development Programme offered by premier educational institutions in India to pay for their course fees. The maximum loan amount that you can apply for is Rs. 20 lakh.

Features of Baroda Education Loan for EDP from Premier Institutions in India

Why this Loan?

• The loan is meant for you if you are working and have gained admission into an Executive Development Programme in a premier educational institution in India
• The bank disburses the Baroda Education Loan for Executive Development Programme from Premier Institutions in India as a series of payments over the required number of terms or years to pay the course fees or other approved charges
• The Executive Development Programme (EDP) can be Part Time, on the Weekend or Online
• As with the Baroda Education Loan to students of premier institutions, the bank has classified the colleges and universities into 4 categories, viz. AA, A, B and C

Baroda Education Loan for Executive Development Programme (EDP) from Premier Institutions in Foreign Countries

This loan helps students who have gained admission into an Executive Development Programme (EDP) in premier educational institutions abroad to pay for their course fees. The maximum loan amount that you can apply for is Rs. 80 lakh with security.

Features of Baroda Education Loans for EDP being offered by Premier Institutions Abroad

Why this Loan?

• The loan is meant for you if you have gained admission into an Executive Development Programme (EDP) from a Premier Institution in a Foreign Country
• The bank disburses the Baroda Education Loans for EDP being offered by Premier Institutions Abroad as a series of payments over the required number of terms or years to pay the course fees or other approved charges
• The Executive Development Programme (EDP) can be Part Time, on the Weekend or Online
• As with the Baroda Scholar Loan for regular students of premier institutions abroad, the bank has provided a list of colleges, universities and institutions that can be categorised as premier institutes

Baroda Skill Loan Scheme

This loan helps students who have gained admission into technical courses offered by training institutes, polytechnics, to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.

Features of Baroda Skill Loan Scheme for Technical Courses

Why this Loan?

• The loan is meant for you if you have gained admission into a technical course offered by a polytechnic, training institute (ITI), etc. in India
• The bank disburses the Baroda Skill Loan Scheme as a series of payments over the required number of terms or years to pay the course fees or other approved charges

Higher Education & Skill Development Guarantee Scheme for Delhi Students

Bank of Baroda offers loans up to Rs. 10 lakh under this scheme for students who wish to pursue diploma or degree studies in Delhi and who have completed their Class 10 and 12 studies from the state. Children of Government of Delhi National Capital Territory (NCT) employees or officials and government servants who are posted in the NCT region also qualify for this loan.

Features of Higher Education & Skill Development Guarantee Scheme for Delhi Students

Why this Scheme?

• This Higher Education & Skill Development Guarantee Scheme for Delhi Students helps meritorious students pursue higher education in the state with loans up to Rs. 10 lakh, giving them an edge over other students
• It is an initiative of the Delhi Government and banks are given guarantees for the loans they advance through a Higher Education and Skill Development Credit Guarantee Fund that protects them in case of defaults from the borrower

Reference Facts

• Bank of Baroda Website: www.bankofbaroda.com and www.bobibanking.com (net banking)
• Headquarters: Baroda (Vadodara), Gujarat
• Education Loan Number: 846 700 1122 (to give a missed call)
• Call Centre Toll-Free Number: 1800 223 344, 1800 102 4455