Bank Of Baroda
Baroda Vidya
Bank of Baroda presents a one of its kind finance option for parents of students pursuing school education. These loans are available for studies from Nursery to Senior Secondary School.
Eligibility:
Should be an Indian national residing in India.
Student should have secured admission to a recognized school / Highschool / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
1. Stage I : Nursery to V th STD.
2. Stage II : VI th to VIII STD.
3. Stage III : IX th to XII th STD.
Purpose:
Fee payable to college / school.
Examination / Library / Laboratory Fee
Fee and other charges payable to hostel
Purchase of books / equipments / instruments / uniforms.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
Amount of loan: Rs. 4.00 Lacs
Interest rate:
Loans upto Rs.4.00 lacs : 2.00% below BPLR i.e. 12.00%
Loans above Rs.4.00 lacs : At BPLR i.e. 14.00%
1% concession in rate of interest to loans for girl students.
Interest to be serviced as and when applied during moratorium period.
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.
Period of loan:
Loan for each yearly sub limit is repayable in 12 equal monthly instalments. First instalment to be due 12 months after first disbursement of each year's loan component.
The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.
Baroda Gyan
A loan product specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India
Courses Eligible :
All Graduation courses, Post Graduation courses, Doctorate courses and Professional courses
Courses like C.A, ICWA, CFA, CS, etc. and Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc, Courses offered in India by reputed foreign Universities.
Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.
Student Eligiblity:
Should be Resident Indian.
Secured admission to either of above courses.
Loan Amount: Rs.10.00 Lacs.
Margin:
Upto Rs. 4.00 lacs :- NIL
Above Rs. 4.00 lacs :- 5%
Repayment:
The loan is repayable in 5-7 years after the above period.
Course period + 1 year or 6 months after getting job, whichever is earlier.
Security:
Upto Rs.4 lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income
Rate of Interest :
Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
1% interest concession is provided if interest debited during repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
Loans upto Rs.4.00 lacs : 2.00% below BPLR i.e. 12.00%
Loans above Rs.4.00 lacs : At BPLR i.e. 14.00%
Baroda Scholar
Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies.
Courses Eligible :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Student Eligiblity:
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Loan Amount :Rs.20.00 Lacs.
Margin : 15%
Repayment Period :
The loan is repayable in 5-7 years after the above period.
Repayment holiday/Moratorium period :Course period + 1 year or 6 months after getting job, whichever is earlier.
Security:
Upto Rs.4 lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income
Rate of Interest :
Loans upto Rs.4.00 lacs : 2.00% below BPLR i.e. 12.00%
Loans above Rs.4.00 lacs : At BPLR i.e. 14.00%
Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
1% interest concession is provided if interest debited during repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.