Vijaya Bank Education Loan 2025 opens the door to academic dreams with funding up to INR 1.5 crores for abroad studies, flexible EMI options, and competitive interest rates. According to RBI data, education loans outstanding across banks touched INR 1.31 lakh crore by November 2024, highlighting the growing reliance on financial aid for higher education.
Vijaya Bank was merged with Bank of Baroda on April 1, 2019, creating a stronger and more extensive banking network for customers. Whether you’re exploring how much you can borrow, what documents you’ll need, or other details, this article breaks it all down.
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Overview of Vijaya Bank Education Loan 2025 Features
The table below highlights the key features of Vijaya Bank Education Loan (now offered under Bank of Baroda) 2025, giving you a quick snapshot of loan amounts, repayment terms, and more.
What’s the Vijaya Bank Education Loan Interest Rate?
Vijaya Bank Education Loan interest rates (under Bank of Baroda) currently range between 7.10% - 10.15% p.a, depending on factors like loan amount, course type, and collateral.
The table below highlights the latest Vijaya Bank (Bank of Baroda) education loan interest rates, based on loan schemes:
Concessions for Female Students
To encourage more female students to pursue higher education, Bank of Baroda offers additional concessions under its education loan products:
1. Baroda Scholar Loan (Non-Premier Institutes): A 0.20% concession in interest rate for female students. (Note: No concession is available for premier institutions under this scheme.)
2. Baroda Gyan Loan: A 0.50% special concession in interest rate for female students, making this scheme especially beneficial.
Maximum Loan Amount for Studying Abroad with Vijaya Bank
Tuition fees, travel costs, and living expenses can add up quickly, making an education loan a vital support system for many students. Vijaya Bank (now part of Bank of Baroda) understands these challenges and offers higher loan limits to help you focus on your studies instead of financial stress.
To meet this need, Vijaya Bank Education Loan 2025 provides substantial financing options. Students admitted to premier foreign universities can get up to INR 150 lakh, while those joining other recognised institutions can access up to INR 60 lakh.
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What is the Moratorium Period in the Vijaya Bank Student Loan?
When you take an education loan, the last thing you want is stress about repayments while you’re chasing your academic dreams. The moratorium period gives students the time they need to complete their studies and settle into a job before the EMI journey begins.
According to Bank of Baroda (which now includes Vijaya Bank’s education loan offerings), students are granted a moratorium that lasts for the duration of their course plus an additional 1 year. This moratorium setup is a lifeline for students transitioning from campus to career, offering both flexibility and peace of mind.
Margin Money Requirement for Vijaya Bank Education Loan
Making education financing clear and compassionate is key, and that's exactly what the “margin money” setup does by defining what portion you need to contribute upfront.
The table below highlights the margin money structure for the Vijaya Bank loan:
Different Types of Vijaya Bank Education Loan Schemes
Students can now access a wide range of education loan schemes tailored for various needs, from school education to overseas studies and skill development. Each scheme comes with a different maximum loan amount, interest rate, and eligibility requirement, giving students and parents flexibility to choose the one that best fits their academic goals.
Here’s an overview of the major types of education loans available under Bank of Baroda:
Eligibility Criteria For Vijaya Bank Education Loan
If you are an Indian student with admission in a recognised institute, whether in India or abroad, you are likely to qualify for the Vijaya Bank Education Loan, provided you can show academic merit and a co-applicant’s financial backing.
Here are the key eligibility criteria you need to meet:
- The applicant must be an Indian citizen.
- Typically, students should be between 18 to 35 years old at the time of application.
- A consistent academic track record is preferred. Admission must be secured in a recognised institution in India or abroad through a merit-based selection process or entrance test.
- Professional, technical, and job-oriented graduate or postgraduate courses, including medical, engineering, management, aviation, and other recognised programs.
- A parent, guardian, or spouse is generally required as a co-applicant for the loan.
- Income proof of the co-applicant/guarantor may be required, especially for higher loan amounts.
- Loan limits may vary depending on whether the student is admitted to a premier institution or not.
For a detailed list of colleges covered under Bank of Baroda’s education loan schemes, check out our Complete Bank of Baroda Education Loan College List.
Documents You’ll Need to Apply for a Vijaya Bank Education Loan
Documents enable the bank to verify who you are, confirm your academic credentials and admission, and assess whether your family (or co-applicant) can support repayment. Having everything ready upfront can significantly reduce delays and ease your mind.
Below is a list of what banks, including Vijaya Bank, typically ask for:
From the Student (Applicant):
- Identity Proof (any one): Aadhaar Card, PAN Card, Passport, Voter ID, Driving Licence, or government-issued ID
- Address Proof (any one): Aadhaar Card, Utility Bill, Rental Agreement, etc.
- Mark sheets for Class 10 & 12, plus semester-wise graduation results if applicable
- Offer letter/admission letter from the institute (conditional letters may be accepted abroad)
- Entrance Exam Scores (if applicable): GRE, GMAT, JEE, NEET, etc.
- Fee Schedule / Statement of Costs: Detailed breakdown of tuition, hostel, travel, and other expenses
From the Co-Applicant or Guarantor:
1. Identity & Address Proof: Same as above
2. Recent passport-size photographs of both the applicant and the co-applicant
3. Income Proof:
- For salaried individuals: Latest salary slips, Form 16, and IT returns
- Bank statements for the last 6 months
Collateral Documents (if applicable):
- If the loan amount requires collateral, submit related property documents, such as the title deed, sale deed, or non-encumbrance certificate.
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What Expenses Are Covered Under the Vijaya Bank Student Loan Scheme?
The loan is structured to provide comprehensive financial support, ensuring that no part of your academic journey is left unfunded. Here’s a breakdown of the major expenses covered under the scheme:
- Tuition and Admission Fees
- Examination, Library, and Laboratory Fees
- Purchase of books, equipment, and uniforms
- Travel expenses/passage money for students pursuing higher studies abroad.
- Accommodation and Living Costs
- Insurance premium for student borrowers, if applicable under the scheme.
- Caution deposit, building fund, or refundable deposits within reasonable limits, supported by receipts.
- Expenses on projects, study tours, and thesis costs incurred as part of the curriculum.
- Laptop/Computer purchase, if required for course completion.
Where Can You Apply for a Vijaya Bank Education Loan in India?
Looking to apply for an education loan? The merger of Vijaya Bank with Bank of Baroda means students can access one of the largest banking networks in the country. With 8,200+ branches across India, Bank of Baroda makes it convenient for students from metros, tier-2 cities, and even semi-rural areas to apply with ease. This wide coverage improves accessibility, speeds up processing, and provides a local touchpoint for all your education loan needs.
How to Apply Online for a Vijaya Bank Education Loan?
With most banks moving towards digital banking, applying for an education loan has become faster and more convenient. Here’s a step-by-step process to apply online for a Vijaya Bank (Bank of Baroda) Education Loan:
1. Visit the Official Portal
Go to the Bank of Baroda Education Loan section on the official website or log in through the Vidya Lakshmi Portal, which is the government’s centralised loan application platform.
2. Choose the Right Scheme
Select the education loan scheme that best matches your study plans, whether it is for studies in India, abroad, or for skill-based courses.
3. Fill in the Application Form
Provide details such as personal information, academic background, course details, and co-applicant/guarantor information. Ensure all fields are filled accurately to avoid delays.
4. Upload Required Documents
Scan and upload documents like KYC, admission proof, academic records, income details, and fee structure. Many applicants face delays because of incomplete documentation, so double-check before submission.
5. Submit and Track Your Application
Once submitted, you will receive an acknowledgement. Applications can be tracked online through the portal to know the current status, reducing the need to visit a branch.
6. Loan Sanction and Disbursal
After verification, the bank will sanction the loan, and funds will be directly disbursed to the institution as per the fee schedule.
Looking to understand the finer details before applying? Check out our detailed guide on Bank of Baroda Education Loan to know about processing fees, margin money, and other important terms.
Is a Vijaya Bank Education Loan Eligible for Government Interest Subsidies?
When applying for an education loan, many students wonder whether they can benefit from the Government of India’s Interest Subsidy Scheme, which offers relief to students from economically weaker sections during the moratorium period. This is a crucial aspect, as it can significantly reduce the overall repayment burden.
A Quora user asked:
“Is an education loan from Vijaya Bank eligible for an interest subsidy provided by the government?”
Insight: Since Vijaya Bank has merged with Bank of Baroda (since April 1, 2019), education loans are now offered under BOB’s schemes. These loans are indeed covered under the Central Sector Interest Subsidy (CSIS) Scheme, but eligibility depends on family income and the course type.
What do we infer from this case?
- Vijaya Bank (now Bank of Baroda) education loans qualify for the CSIS scheme if income conditions are met.
- Subsidy applies only to students pursuing professional/technical courses in India, not abroad.
- The benefit is available only during the moratorium period (course period + 1 year).
Tip: If you’re planning to apply, ensure you have an income certificate issued by a competent authority, as this is mandatory for availing the subsidy.
Repayment Process for Vijaya Bank Student Loan
You get a moratorium period covering your course duration plus 12 months, which means you don’t have to start paying EMIs until you complete your studies and secure a job. Once repayment begins, the loan can be paid back over a period of up to 15 years, depending on the amount borrowed.
The repayment can be made through EMIs using ECS, standing instructions, or automatic debit for convenience. Students also have the option to prepay or part-pay without major penalties, reducing the overall interest burden.
To understand the latest rules and guidelines across India, check out Education Loan Repayment Rules in India.
The Vijaya Bank Education Loan 2025, now offered under Bank of Baroda, is a structured solution that adapts to different courses, institutes, and student needs. With multiple schemes, flexible repayment, and concessions for women students, it ensures that financial planning is not a barrier to quality education. If you’re aiming to study in India or abroad, understanding the eligibility, required documents, and interest rates upfront can help you make smarter choices and secure your academic future with confidence.
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