Bank of Baroda Scholar Scheme

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Bank of Baroda Baroda Scholar Loan Scheme presents financial assistance to students going abroad for Professional/ Technical studies.

Eligibility :

Student

Should be an Indian National.
Secured admission to Professional/ Technical Courses at foriegn Universities/Institutions.

Courses

Graduate/ Post Graduate/ Doctorate/ Job Oriented Professional/ Technical Courses offered by reputed Universities overseas
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation/shipping authority and Director General of Civil Aviation/shipping in India.

Loan Details

Quantum

Maximum amount of loan: 20.00 lacs.

Coverage of Expenses

Admission/ Tuition fees to College/University.
Hostel/ Mess charges.
Examination/Library/ Laboratory fee.
Purchase of books/ equipments/ instruments/ uniforms.
Caution deposit/ building fund/ refundable deposit supported by institution bills/ reciepts.
One way travel expenses/ Passage money.
Purchase of computers if essential for completion of the course.
Any other expense required to complete the course e.g. study tour, project work, thesis etc.

Margin :
15%

Security :

Upto Rs.4.00/- lacs : No security
Above Rs. 4.00/- lacs upto Rs. 7.5 lacs : Collateral in the form of a suitable third party guarantee along with assignment of future income.
Above Rs. 7.5 lacs : Collateral security equal to 100% of loan amount along with assignment of future income

Zero processing and documentation charges. Drafts in foreign currencies drawn on the bank branches/ subsidiaries required in favour of College/University/Student will be issued free of exchange/commission.

Rate of Interest

Simple interest to be charged during the repayment holiday/moratorium period. For interest rate check out this link, Axis Bank Interest Rate

0.50% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

Repayment

Repayment holiday/ moratorium period is course period + 1 year, or 6 months after getting job, whichever is earlier.

Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs
Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

Contact Details

Head Offices
Suraj Plaza-1, Sayaji Ganj, Baroda-390005
Phone : (0265) 236 1852 (10lines)
Fax : (0265) 236 2395, 236 1824, 236 1806
Baroda House, P.B. No.506, Mandavi, Baroda-396006
Phone : (0265) 256 3932
Fax : (0265) 256 2445

Corporate Centre
Baroda Corporate Centre,
Plot No - C-26, G - Block, Bandra - Kurla Complex, Bandra (East), Mumbai-400051
Phone :(022) 6698 5000- 04
Fax :(022) 2652 350

Website : visit

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Tags

Study Abroad Loan , Bank of Baroda Education Loans

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