Bank of Baroda Vidya Scheme

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Baroda Vidya Scheme is the finance option for parents of students pursuing school education. These loans are available for studies from Nursery to Senior Secondary School.

Eligibility :

Should be an Indian national residing in India.
Student should have secured admission to a recognized school / High school / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
- Stage I : Nursery to V th STD
- Stage II : VI th to VIII STD
- Stage III : IX th to XII th STD
- Evening courses of institutes approved by State /Central Govt

No minimum qualifying marks required.

Loan Details

Maximum Loan Amount : Rs.4.00 Lacs
Loan to be granted in the name of father/mother of the student
Zero processing & documentation charges. Zero Margin.

Coverage of Expenses for

Fee payable to college / school.
Examination / Library / Laboratory Fee.
Fee and other charges payable to hostel.
Purchase of books / equipments / instruments / uniforms.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
Cost of external coaching/tuition is not to be considered

Security :

No security required.
In case the loan is given for purchase of computer the same is to be hypothecated to the bank.

Rate of Interest

Rates of interest charged will be as per Bank's policy on the date of disbursement of loan.
For interest rate check out this link, Axis Bank Interest Rate

0.50% concession in rate of interest to loans for girl students
Interest to be serviced as and when applied during moratorium period
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.

Repayment

You can repay the loan after moratorium by way of EMI. (Equated Monthly Instalments)

Loan for each yearly sub limit is repayable in 12 equal monthly installments. First installment to be due 12 months after first disbursement of each year's loan component.

Interest to be serviced as and when applied during moratorium period.

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

Bank of Baroda Education Loans , School Education Loan

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