BOB CSIS For Education Loan

About the Scheme

The BOB CSIS for Educational Loan is one of the schemes of the Government of India that provides access to higher education for students from economically weaker sections (EWS). The scheme allows students to pursue their studies without having to carry the burden of high interest so that they can focus on academics. This is a very good scheme for students who need low-interest student loans.

Schemes - Rate of Interest

The BOB CSIS for Education Loan offers competitive interest rates based on the loan amount and institution category. Below are the details:

• Baroda Vidya Loan: Interest rate set at 12.25%.

• Baroda Gyan Loan:

  • Loans up to ₹7.5 lakh – Interest rate of 10.90%.

1. Interest Rates for Premier Institutions

   • Top-tier institutions (List AA & A) – Interest rates range from 8.30% to 8.90%.

2. Baroda Scholar Loan

   • Premier Institutes: Interest rate is 9.45%.

   • Non-Premier Institutes:

     • Up to ₹7.5 lakh – 10.90% interest rate.

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3. Digital Education Loans

   • Interest rates for top institutions (AA & A List) range from 8.30% to 8.90%.

4. Baroda Skill Loan Scheme

   • Interest rate fixed at 10.40%.

These structured interest rates make the BOB CSIS for Education Loan a strong choice for low-interest student loans with flexible repayment options.

Features of the Scheme

• Interest subsidy is available for the entire moratorium period (course duration + 1 year).

• Applicable only to NAAC/NBA accredited institutions or Institutes of National Importance (INIs).

• Maximum loan size eligible for subsidy: ₹7.5 lakh.

• An education loan without collateral for deserving students to make access easy.

• No subsidy in event of dropout or expulsion from course.

• A state-designated association is required to issue an income certificate.

• Aadhaar authentication is mandatory to receive the subsidy.

The program is particularly beneficial for students who need finance without assets as collateral so that everyone can access higher education.

Eligibility of the Scheme

To be qualified for a BOB CSIS for Education Loan, students must meet the following conditions:

• Should be from Economically Weaker Section (EWS) having a family income not exceeding ₹4.5 lakh a year.

• Should be pursuing technical or professional education in India after class XII.

• The admission should be from a NAAC, NBA, or INI accredited university.

• Maximum size of loan qualifying for subsidy: ₹7.5 lakh.

• A certificate of income is required from the relevant state authority association.

Additionally, if you're receiving a child education allowance, this scheme can supplement your child's education funding.

Documents Required

Students must submit the under-written documents to apply for the BOB CSIS for Education Loan.

• The KYC documents like Aadhaar, PAN, etc, of the applicant and co-applicant

• Academic certificates (X and XII and higher education certificates).

• Proof of admission (college/university acceptance letter).

• Entrance exam results (where applicable).

• Statement of cost of study (institutional fee structure).

• Parents'/co-applicants' proof of income (salary slip, I-T returns)

• Bank records for six months.

• Certificate of income issued by a state or central competent authority.

Ensuring all required documents will help applicants secure approval without delays.

Most Important Terms and Conditions

• Students can only receive the subsidy for their single undergraduate and postgraduate studies.

• Students who discontinue their course regularly will be removed from the educational program.

• Students receive education loan assistance without requiring security deposits due to contractual commitment with the bank.

• Students taking foreign studies are excluded from the benefit and only Indian educational institutions qualify.

• Section 80E of the Income Tax Act allows loan borrowers to deduct taxes from interest payments exceeding the moratorium period.

The BOB CSIS for Education Loan is a highly beneficial child investment plan. With full interest subsidy during the moratorium period, low-interest student loans, and education loans without collateral, this scheme makes higher education accessible for everyone.

If you plan for your child's future, consider a child education plan to secure their academic journey.

Start planning today and make higher education stress-free for your child!