Bank of Baroda Education Loan College List: Application Process, Documents Required
The Bank of Baroda provides various education loan programs to support and finance the aspirations of countless students in India. These programs assist students in paying for their tuition and other educational costs. Owing to such education loans, students can also pursue high-quality education abroad and in India. This loan is intended to cover the cost of books, housing, tuition, and other higher education expenses.
With this extensive loan program, students can choose from a wide range of local and international courses, giving them the flexibility to pursue their chosen field of study.
Keep reading to know more!.
Bank of Baroda- Types of Education Loans
There are 5 types of education loans offered by the Bank of Baroda. Their details, along with the interest rates and eligibility, are given below:
Scheme Name
Interest Rate
Collateral
Processing Fee
Loan Tenure
Eligibility
Baroda Gyan Scheme
11.05% to 11.15% p.a.
No security up to ₹4 lakhs. Collateral required above ₹4 lakhs.
Nil
10 to 15 years
For graduation, post-graduation, professional courses, management courses, and more in India
Baroda Scholar Scheme (For Abroad)
9.70% to 11.15% p.a.
No security up to ₹4 lakhs. Third-party guarantee and future income assignment for ₹4-7.5 lakhs. 100% collateral security and future income proof above ₹7.5 lakhs
1% of the loan amount, max ₹10,000 (refundable). ₹7,500 per property upfront (non-refundable)
Up to 15 years
Indian students admitted to specified courses abroad
Baroda Education Loan for Premier Institutions (Abroad and India)
8.15% to 10.20% p.a.
No collateral up to ₹40 lakhs.
Nil
Up to 15 years
Admission to technical/professional courses abroad through merit-based selection or entrance test
Baroda Executive Development Scheme (India)
8.55% to 10.20% p.a.
Varies depending on the loan amount and course
Nil
Up to 15 years
Students seeking admission to premier institutions in India
Baroda Skill Loan Scheme
10.65% p.a.
No collateral or third-party guarantee is required
Nil
Up to 3 years for loans up to ₹50,000, up to 5 years for ₹50,000-₹1 lakh, up to 7 years above ₹1 lakh
Students aiming for education within India can avail of any of the following education loans from the Bank of Baroda:
Baroda Gyan
Baroda Digital Education Loan
Baroda Education Loan for EDP
Skill Loan Scheme
Bank of Baroda Education Loan for Premier Institutes
The list of notified colleges under the Bank of Baroda Education Loans for college list for premier institutes is given in the next section.
Bank of Baroda Premier Institute List in India
The BOB Premier Institute List is ranked in 4 categories: AA, A, B and C. We have mentioned the top 15 colleges under each section. The institutions under each category are as follows:
1. List AA- Bank of Baroda Education Loan College List
Institution
City
Indian Institute of Management (IIM)
Ahmedabad
Indian Institute of Management (IIM)
Bangalore
Indian Institute of Science
Bangalore
Indian School of Business (ISB)
Hyderabad
Indian Institute of Technology (IIT)
Chennai
Indian Institute of Management (IIM)
Lucknow, NOIDA Campus
Indian Institute of Technology (IIT)
Kharagpur
Indian Institute of Management (IIM)
Kolkata
Indian Institute of Technology (IIT)
Kanpur
Indian Institute of Management (IIM)
Lucknow
Indian Institute of Technology (IIT)
Varanasi
Indian Institute of Technology (IIT)
Mumbai
Indian School of Business (ISB)
Mohali
Indian Institute of Technology (IIT)
New Delhi
All India Institute of Medical Sciences (AIIMS)
New Delhi
Xavier Labour Relations Institute
Jamshedpur
Indian Institute of Management (IIM)
Kozhikode
2. List A Institutions - Bank of Baroda Education Loan College List
Students can also apply for Bank of Baroda’s educational loans to study abroad.
To get a loan to study abroad, students must get a Baroda Scholar loan. The Bank of Baroda Education Loan College list for studying abroad is on the official website and is categorised based on different courses. They are:
List of premier Institutes for Management course
List of premier Institutes for STEM courses
List of premier Institutes for Medical Courses
List of premier InPremiers for Other Education
Other Courses eligible for the Baroda Scholar Loan are:
Graduation- job-oriented professional/ technical courses by recognised universities
Post Graduation courses such as MCA, MBA, MS, etc
Courses held by CIMA (London), CPA (USA), and others.
Regular courses (degree or diploma) in pilot training, aeronautical, shipping and others by institutions recognised by the competent authority.
Certificate Courses
For any other courses not mentioned in the list of 4 premier institutes mentioned above
Documents Required to Apply to Bank of Baroda Education Loan
Now that we know all about the Bank of Baroda Education Loan College List, here is the complete list of documents required to apply to Bank of Baroda Education Loan :
Category
Documents Required
Student-Applicant
Proof of Identity
Aadhaar Card, Voter ID Card, PAN Card, Driving License
Proof of Residence/ Address
Utility bills (electricity, water, gas), Bank statements, Rental agreements, Letter from the educational institution
Passport for Studies Abroad
Valid passport with at least 6 months of remaining validity
10th, 12th, Graduation Result
10th standard mark sheet, 12th standard mark sheet, Graduation mark sheet or degree certificate
Statement of the total cost of study, including tuition fees, living expenses, and other associated costs
College/Course Prospectus
Prospectus or brochure of the educational institution and the course
Photographs
2 recent passport-size photographs
Account Statement
Last 1 year of bank account statements
Co-applicant/Guarantor
Proof of Identity
Aadhaar Card, Voter ID Card, PAN Card, Driving License
Proof of Residence/ Address
Utility bills (electricity, water, gas), Bank statements, Rental agreements
Photographs
2 passport-size photographs
A/C Statement
Last 1 year of bank account statements
Income Proof for Self-employed Co-Applicant or Guarantor
Business Address Proof
Where applicable
IT Returns
IT returns during the last two years
TDS Certificate
Form 16A, if required
Certificate of Qualification
For CAs, doctors, and other professionals
Bank Account Statement
Last six months of bank account statement
Looking for the perfect education loan to fund your education for colleges within the Bank of Baroda Education Loan College List with a higher acceptance rate? Take a look at the brief comparison of education loans provided by various lenders in the next section!
Education Loan Providers: A Comparison of Banks and NBFCs
For AA Category: 40 Lacs
For A Category: 20-30 Lacs
For B Category: 20 Lacs
For C Category: 7.5 Lacs
7.50 Lacs to 15 Lacs
10 Lacs
BOI Star Education Loan: INR 20 Lakh
BOI Star Vidya Loan: INR 40 Lakh
Up to 50 Lacs without collateral
Up to 2 Crores with collateral
Max loan without collateral
INR 80 Lacs
For AA Category: 40 Lacs
For A Category: 20-30 Lacs
For B Category: 20 Lacs
For C Category: 7.5 Lacs
7.50 Lacs to 15 Lacs
10 Lacs
INR 7.5 Lacs
50 Lacs
Processing Fee
Nil
Up to INR 4 Lakhs: No; Above INR 4 Lakhs: INR 5,000
Nil
Nil
No Margin up to 4 Lacs
1-3% of the loan amount
Repayment Period
Up to INR 7.5 Lacs: 10 years
Above INR 7.5 Lacs: 15 years
15 years
15 years
7 Years
15 Years
15 Years
Margin
Nil
Scholar Loan Scheme: Nil
5% (above 4 Lacs)
Up to loan 4 Lacs: No margin
Above 4 Lacs for India: 5%
Nil up to 4 Lacs
1st year: 20% Margin; Other years: Nil
Loan Security
Up to 4 lacs: No security required
4 to 7.50 Lacs: Third-party guarantee
Above 7.50 Lacs: Tangible collateral security equal to 100% of the loan amount
Up to INR 4 Lacs: Parents as co-borrower
INR 4 to 7.50 Lacs: Parent and third-party guarantee
Above INR 7.50 Lacs: Tangible security with parents as co-borrower
Co-obligation of parents/guardians as joint co-borrowers
Third-party guarantee
Collateral security
Assignment of LIC policy (100% of the loan amount)
Assignment of future salaries
Collateral required for loans above 7.5 Lacs
Collateral not required
Processing Time
N.A
20 days
15 Days
14 Days
15-20 days
10 times faster than Banks
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FAQs About Bank of Baroda Education Loan College List
What is the Bank of Baroda Education Loan Scheme?
Bank of Baroda offers various education loan schemes to help students finance their studies both in India and abroad from the Bank of Baroda Education Loan College List. These loans cover tuition fees, living expenses, and other study-related costs.
What are the eligibility criteria for a Bank of Baroda education loan?
The student must have secured admission to a recognised institution in India or abroad. Loan eligibility may vary based on the institution's category from the Bank of Baroda Education Loan College List (AA, A, B, or C).
Which institutions are covered under the Bank of Baroda’s AA category for education loans?
Premier institutions like IIMs, IITs, and other top institutions in India fall under the AA category, which offers loans with favourable interest rates. There are other lists for other colleges, covered under the Bank of Baroda Education Loan College list, such as A, B, and C.
What maximum loan amount does the Bank of Baroda provide for students in AA institutions?
For students studying at AA-listed institutions under the Bank of Baroda Education Loan College List, the maximum loan amount without collateral can be up to INR 40 Lakhs.
What is the difference between the different Bank of Baroda Education Loan College Lists (AA, A, B, and C) in the education loan scheme?
The categories are based on the institution’s prestige. AA and A categories represent top-tier institutions offering lower interest rates, while B and C cover other institutions with higher rates and slightly different terms.
What is the interest rate for AA institutions under the Bank of Baroda’s education loan scheme?
The interest rate for AA institutions is 8.75% for loans up to INR 30 Lakhs, and no collateral is required for loans under INR 40 Lakhs.
Can I get a Bank of Baroda education loan without collateral?
Yes, for AA and A category institutions, loans up to INR 40 Lakhs and INR 30 Lakhs, respectively, can be availed without collateral.
What is the repayment period for a Bank of Baroda education loan?
The repayment tenure typically ranges from 10 to 15 years, depending on the loan amount.
What documents are required to apply for a Bank of Baroda education loan?
Key documents include proof of identity, proof of admission, bank statements, and academic records such as mark sheets and entrance exam results.
Does the Bank of Baroda offer a moratorium period for education loans?
Yes, the bank offers a moratorium period during study, allowing students to start repayment after completing their education.
What are the associated costs covered by Bank of Baroda’s education loan?
The loan covers tuition fees, living expenses, travel expenses, and any other study-related costs.
How can I calculate the EMI for my Bank of Baroda education loan?
You can use the Bank of Baroda’s EMI calculator on their website to estimate monthly payments by entering the loan amount, interest rate, and tenure.
What benefits does the Bank of Baroda offer for female students?
Female students are eligible for a 0.5% concession on interest rates for education loans.
What is the processing time for a Bank of Baroda education loan?
The loan processing typically takes 15 to 25 days, depending on document verification and the institution’s category.
Are there any subsidies available for Bank of Baroda education loans?
Yes, subsidies like the Central Government’s Interest Subsidy Scheme (CSIS) are available for students from economically weaker sections.
What are the steps to apply for a Bank of Baroda education loan?
You can apply through their website or the Vidya Lakshmi portal. Students need to submit the required documents and choose the appropriate loan scheme.
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