Bank Of Baroda Education Loan Interest Rate
| INTEREST RATE | 10.25% to 11.15% |
| LOAN TENURE | In 5 to 7 years after the Holiday | Moratorium Period |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | As decided by the bank from time to time |
About Bank Of Baroda
Bank Of Baroda is a public sector bank in india with total assets 11742 crore. It has headquarter in Vadodara (baroda). Bank Of Baroda was founded on July 20, 1908. It has 5198 branches and total assets 117428030 ATMs across India.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Bank Of Baroda which includes Bank Of Baroda Official Website, Bank Of Baroda ATMs accross the India, Bank Of Baroda Branches accross the India, Bank Of Baroda Contact Numbers, Bank Of Baroda official EmailID, Bank Of Baroda Headquarter and Bank Of Baroda Headquarter Address. Find Bank Of Baroda Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
Other Products of Bank Of Baroda:
| Home Loan | Personal Loan |
| Education Loan | Business Loan |
| Car Loan | Two Wheeler Loan |
| Gold Loan | FD Interest Rates |
| Bank Of Baroda RD Interest Rates | Bank Of Baroda ATMs Location |
| PPF Account |
Bank Of Baroda Education Loan Purpose
To provide financial assistance to the deserving / meritorious students in getting their education completed specially for higher education. The scheme aims to ensure that the deserving students may not loose opportunities for want of arrangements of funds.
Bank Of Baroda Eligible Courses for Education Loan
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.Bank Of Baroda Education Loan Document Required
For salaried individuals
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Latest salary slip showing all deductions or Form 16 along with recent salary certificate
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
For all individuals except salaried
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
Bank Of Baroda Education Loan Amount
Maximum Rs. 20 LakhsMargin
a) Up to Rs.4 lakhs-Nil.b) Above Rs. 4 lakhs- Studies in India 5% Studies Abroad 15%
Bank Of Baroda Education Loan Repayment
Repayment Holiday| Moratorium: Course Period + 1 year or 6 months after getting job, whichever is earlier.Security
Upto Rs.4.00/- lacs : No securityAbove 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
Mode of Repayment of Education Loan
Post Dated Cheque (PDC): PDCs are given by the borrower in advance to the bank. They will be for future dates. Bank will deposit the cheque on the date mentioned on the cheque. This mode used to be opted by the borrowers when there were no online repayment options available. This mode is no longer popular and is used by very few borrowers.
Electronic Clearance System (ECS): This mode is very popular and most of the borrowers opted for this mode of repaying the loan. It is an electronic mode for transferring the EMI from borrower's bank to lender's bank.
National Automated Clearing House (NACH): NACH is a facility offered by National Payment Corporation of India (NPCI) for online transfer of funds on due date. This system has come into force recently and is preferred by many people. The benefit of this mode is that it allows transactions to be processed in real time.
Standing Instruction (SI): It is an order or instruction which the account holder gives to his/ her bank to pay a fixed amount to another bank/ account at a regular interval. It is also used by many borrowers to pay EMIs as EMI is a fixed amount. SI is not suitable for variable amounts.
Contact details of Bank Of Baroda, Bank Of Baroda SMS balance check number SMS banking, Bank Of Baroda mobile banking, Bank Of Baroda toll free number,Bank Of Baroda toll free number 24*7, Bank Of Baroda miss call number.
- MISSED CALL NUMBERS - 8468001111, 8468001122
- CUSTOMER CARE NUMBERS - 18002584455, 18001024455, 18001027788
- CONTACT NUMBERS - 18002584455, 18001024455, 18001027788, 0265-2316792
Bank Of Baroda Contact Details
- BANK OFFICIAL WEBSITE - https://www.bankofbaroda.in
- CONTACT NUMBERS - 18002584455, 18001024455, 18001027788, 0265-2316792
- EMAIL ID - [email protected]
- MISSED CALL NO. - 8468001111, 8468001122
- CUSTOMER CARE NO. - 18002584455, 18001024455, 18001027788
- TOTAL BRANCHES - 5198
- TOTAL ATMS - 8030
- HEADQUARTER - Vadodara (baroda)
- BANK ADDRESS - Baroda Bhavan 7th Floor,R.C. Dutt Road, Vadodara-390 007, (Gujarat) India.
Bank Of Baroda Education Loan FAQs Education Loan Document Required
