Bank of Baroda loan for EDP from Premier Institutions Abroad

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 from 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 categorised as premier institutes

Loan Amount

  • The maximum loan amount one can get with security is Rs. 80 lakh


  • These loans are charged the sum of Baroda Repo Linked Lending Rate (BRLLR) which is currently 7.00%, a Strategic Premium which currently stands at 0.25% and an additional 1.5%. This comes to 8.75%
  • If you are a Bank of Baroda employee or family member of a Bank of Baroda employee, then the interest rate you will get from the bank will be the sum of the Baroda Repo Linked Lending Rate (BRLLR) which is currently 7.00% and the Strategic Premium which currently stands at 0.25%. This comes to 7.25%
  • Girl students do not get the standard 0.5% concession in the interest rate under this scheme
  • The interest amount has to be paid during the moratorium period


  • The repayment moratorium is for the course duration and an additional grace period of 3 months
  • A loan of up to Rs. 7.5 lakh needs to be repaid in 10 years in equal monthly instalments (EMIs) after the moratorium ends while loans above Rs. 7.5 lakh need to be repaid in 15 years as EMIs

Security Needed

  • Loans up to Rs. 4 lakh: These loans need co-obligation of parents but do not need any security
  • Loans from Rs. 4+ lakh to Rs. 7.5 lakh: The parents would have to execute the document as joint borrowers with the student. In addition, Bank of Baroda will need an assignment of future income and seek a third party guarantee. This third party guarantee will not be required if BoB is satisfied with the net worth of the parents or to support deserving students who have gained admission into highly reputed institutes and unable to offer third party guarantee
  • Loans above Rs. 7.5 lakh: These loans need tangible security for the entire loan amount in addition to an assignment of future income


  • As a borrower, you should be a Resident Indian, which means you have to be an Indian citizen and have spent over 180 days residing in the country in the previous financial year
  • You should have secured admission in an EDP programme in any of the listed premier institutions abroad
  • Lastly, you also should be working and continue to work during the study period

Eligible Courses

  • Executive development programmes from one of the approved premier institutes abroad
  • The list of premier institutes and their categories as specified by Bank of Baroda can be seen here

Borrower Contribution to Total Cost (Margin Money)

  • Loans up to Rs. 4 lakh: Do not need any margin money
  • Loans over Rs. 4 lakh: The bank charges a margin percentage of 5% for loans above Rs. 4 lakh

Note: Margin money refers to the amount the borrower contributes to the overall amount required

Processing and Other Charges

  • Bank of Baroda charges a refundable deposit of 1% of loan amount upfront. This is refunded with the first instalment of the loan to the borrower’s savings account. This means that effectually there are no processing charges for this loan
  • Bank of Baroda charges Rs. 8,500 for Advocate and Valuer fees in case a mortgage has to be created as security for its Baroda Scholar loan
  • Like the above education loans, there is no charge for mortgage creation

Uses of the Loan

  • The loan amount can be used to pay any fees or other charges that are a part of the standard tuition, exam fees, book or equipment cost or any other institution-approved cost that are necessary to complete the course
  • The loan can also be met to cover any expenses on study tours, project works, thesis and so on
  • The loan can be used to pay for any insurance premium if it is opted for by the student. Currently, Bank of Baroda has tie-ups with IndiaFirst Life Insurance Kotak Life Insurance for Group Credit Life insurance cover to education loan borrowers
  • Expenses on laptops or computers needed to complete course
  • Any caution or refundable deposit moneys are allowed under the loan provided that the total such amount is less than 10% of the total loan
  • The loan can be used to pay for any amount needed to pay for travel expenses to and from the institute abroad or in classes in other Indian cities
  • However, since the loan is extended to a working professional, charges such as living expenses, hostel charges, mess charges and other living expenses are not eligible. Like other loans, the loan cannot be used to pay for external coaching or tuition

Other Features to Know

  • The loan comes with its own debit card
  • The bank asks for details of expenses for the course that the applicant(s) need to obtain from the institution
  • In case the programme is offered in partnership with any Technology Partner and classes are conducted in centres of these partners, then these premises will be treated on an equal footing with the institute
  • During application, the borrowers should provide an affidavit that they have not taken an education loan from another bank for the same child. In case they seek another education loan from a different lender, then they will have to take an NOC from Bank of Baroda for the new loan
  • The student’s progress report has to be submitted with the bank at regular intervals
  • The lending branch should be near the institute, study centre of the technology partner or the place of residence of the borrower
  • The loan is disbursed directly to the college, book seller or publisher, computer seller, and so on and not to the applicant(s)

Documents Needed

  • Application Form duly filled and signed by applicant and/or guarantor along with details of applicant and/or guarantor and family
  • Two Passport Size Photographs of student, applicant and/or guarantor
  • Photocopy of PAN Card of the student that needs to be submitted at the time of application or during the course period
  • Personal Identification Proofs (Any One): Electoral I-Card, Passport, Driving License, PAN Card or Aadhaar Card
  • Residential Address Proof (Any One): Electricity Bill, Landline Telephone Bill, Electoral or Voter ID Card or Passport
  • Admission Letter, Course Details and Prospectus
  • Fee Details with Demand of Fee by the Institution
  • All Proofs of Past Academic Record including Mark Sheets and Certificates
  • Copy of Passport since loan is for overseas study
  • Property or other security documents wherever applicable
  • Cheque for processing charges that is refunded on first disbursal of loan

Reference Facts

  • Bank of Baroda Website: and (net banking)
  • Headquarters: Baroda (Vadodara), Gujarat
  • Education Loan Number: 846 700 1122 (to give a missed call)
  • Call Centre TollFree Number: 1800 223 344, 1800 102 4455