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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 pursuing skill development courses |
Must Read: Bank of Baroda Education Loan- Eligibility & Interest Rates
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BOB Education Loans for Institutes in India
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
When considering education loans for institutes in India, it's essential to refer to the Bank of India approved college list for education loans to ensure your chosen institution is recognized, facilitating a smoother loan application process.
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
| Institution Name | City |
|---|---|
| National Institute of Design (NID) | Ahmedabad |
| CEPT University | Ahmedabad |
| Indian Institute of Technology (IIT) | Gandhinagar |
| Institute of Rural Management Anand (IRMA) | Anand |
| Indian Institute of Technology (IIT) | Hyderabad |
| International Institute of Information Technology (IIIT) | Hyderabad |
| Indian Institute of Management (IIM) | Indore |
| Indian Institute of Technology (IIT) | Indore |
| Indian Institute of Management (IIM) | Raipur |
| National Institute of Design (NID) | Bangalore |
| Indian Institute of Technology (IIT) | Dharwad |
| National Institute of Technology (NIT) | Warangal |
| Indian Institute of Management (IIM) | Visakhapatnam |
| Indian Institute of Technology (IIT) | Roorkee |
3. List B-Bank of Baroda Education Loan College List
| Institution Name | City |
|---|---|
| Indian Institute of Information Technology (IIIT), Allahabad | Allahabad |
| Indian Institute of Information Technology (IIIT), Dharwad | Dharwad |
| ICFAI Business School (IBS), Mumbai | Mumbai |
| K. J. Somaiya Medical College & Research Centre | Mumbai |
| Indian Maritime University, Mumbai Port Campus | Mumbai |
| Narsee Monjee Institute of Management Studies (NMIMS) | Navi Mumbai |
| Thapar Institute of Engineering and Technology University | Patiala |
| Jamia Millia Islamia | New Delhi |
| Netaji Subhas Institute of Technology (NSIT) | New Delhi |
| Lal Bahadur Shastri Institute of Management | New Delhi |
| Sri Ramaswami Memorial University (SRM), Ghaziabad | Ghaziabad |
| Birla Institute of Technology, Ranchi | Ranchi |
| Indian Institute of Information Technology (IIIT), Bhagalpur | Bhagalpur |
| Dhirubhai Ambani Institute of Information and Communication Technology (DAIICT) | Gandhinagar |
| PSG College of Technology | Coimbatore |
4. List C-Bank of Baroda Education Loan College List
| Institution Name | City |
|---|---|
| SSN School of Management | Chennai |
| Amrita School of Engineering | Chennai |
| Coimbatore Institute of Technology | Coimbatore |
| PSG Institute of Medical Sciences & Research | Coimbatore |
| Govt Model Engineering College | Kochi |
| Hindustan Institute of Technology and Science | Chennai |
| Annamalai University | Annamalainagar |
| Amrita School of Business | Coimbatore |
| Gandhi Institute of Technology and Management (GITAM) | Hyderabad |
| Chaitanya Bharathi Institute of Technology | Hyderabad |
| Indian Institute of Social Welfare and Business Management | Kolkata |
| Jaipuria Institute of Management | Lucknow |
| Kirloskar Institute of Advanced Management Studies | Harihar |
| Sydenham Institute of Management Studies | Mumbai |
| Sardar Patel College of Engineering | Mumbai |
The complete Bank of Baroda Education Loan College list can be found here.
Learn more about education loan eligibility, interest rates, and how to apply for them by reading this blog.
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BOB Education Loan College List for Study Abroad
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
Must Read: Education Loan for Abroad Studies in 2024: A Comprehensive Guide
Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility.
When considering the education loan options for studying in Canada, it's essential to refer to the Bank of Baroda's approved list of institutions, as securing admission to these recognized universities can facilitate a smoother loan application process and may qualify you for favorable loan terms.
How to Apply For a BOB Education Loan
If you want to pursue education from any institution from the Bank of Baroda Education Loan College list, here is the process to apply for the loan:
Online Process
Step 1: Go to the official Bank of Baroda website.
Step 2: Select "Education Loan." It's an option under the 'Loans' menu.
Step 3: Tap or click 'Apply Now' on the following page.
Step 4: The https://www.vidyalakshmi.co.in/Students/ webpage will appear.
Step 5: Click 'Apply Now'.
Step 6: Fill out the registration form and press the button to send it.
Step 7: A Bank of Baroda representative will call you to complete your request.
Offline Process
Step 1: Apply for a loan at the Bank of Baroda branch closest to you.
Step 2: After reviewing your profile, you might need to send in some documents.
Step 3: Take the required paperwork to the BOB branch that's closest to your home.
Step 4: Once all the documents are verified, the loan amount will be disbursed to the account.
Must Read: How to apply for Education Loan in India- Complete Process
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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 |
| Entrance Exam Results | CAT, JEE, NEET, CET, CMAT, GMAT, GRE, TOEFL results |
| Proof of Admission | Proof of admission or admission letter |
| Statement of Cost of Study | 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
| Feature | Bank of Baroda | State Bank of India | Punjab National Bank | Axis Bank | Bank of India | Propelld |
|---|---|---|---|---|---|---|
| Applicable Rate of Interest | Depending on the institution, it ranges from MCLR+ 0.75% to 10.05% | Up to 3 Years: BR+1.50%; Above 3 Years: 1.50% + Term Premium (BR at 10.00%) | Up to 4 Lacs: 16.50% Up to 7.5 Lacs: 17.50% Above 7.5 Lacs: 15.50% |
Not specified | 8.35 - 11.05% | 12% pa onwards |
| Max Loan with Collateral | INR 40 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 | BOI Star Education Loan: INR 20 Lakh BOI Star Vidya Loan: INR 40 Lakh |
Up to ₹40 Lakhs (India) / ₹1 Crore (abroad), no collateral required |
| 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 | Up to ₹40 Lakhs (India) / ₹1 Crore (abroad) |
| 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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Why Propelld
There are several other benefits of opting for a Propelld education loan. They are:
| Particulars | Details |
|---|---|
| Max Loan Amount | Up to ₹40 Lakhs (India) / ₹1 Crore (abroad) |
| Collateral | Not Required |
| Moratorium | Available |
| Processing Time | 10 Times Faster than Banks |
| Disbursal Time | 7 Days |
| Approval Rate | Higher than Other Banks |
| Special USP | Marks Based Approval |
| % Financed | 100% of Fees |
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