Bank of Baroda is providing education loan in the name of baroda vidhya for the school students and kian for the students studying in any of the colleges in India and baroda scaser for the Indian students studying in abroad.
Education loan amount size
For the students studying in India , maximum amount of upto Rs.7,50,000 will be provided and for the students studying in abroad maximum amount of upto Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Upto Rs.4,00,000 : B.P.L.R.,(2.00% above BR)
More than Rs.4,00,000 : B.P.L.R.,(4.00% above BR)
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.The loan amount is to be closed within 5 to 7 years.
No property gurantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs: Property guarantor is required.