Baroda Education Loan for EDP Being Offered by Premier Institutions in India

About the Scheme

Baroda Education Loan for EDP from Bank of Baroda helps working professionals in executive development initiatives. This loan enables one to pay for courses provided by top universities throughout India, including those given via technological platforms. More professionals depend on the financial support of higher education since education loans grew last fiscal year by around ₹14,000 crore. 

Rate of Interest

The Baroda Education Loan for EDP offered by Premier Institutions in India offers both floating and fixed interest rates, ensuring flexibility based on your needs. 

Features of the Scheme

• Tenure of Flexible Loans: You have fifteen years to pay back.

• Collateral Requirements: Depend on the loan value:

  • Up to ₹20 lakhs just co-obligation and future income assignment; no collateral.

  • Above ₹20 lakhs; needed future income assignment and 100% collateral.

• It is accessible to resident Indians who have paid admittance and work during the course.

• The child education allowance benefit provides an added incentive.

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

Eligibility of the Scheme

You must fit the following requirements to be eligible for this loan:

• Executive Development Programmes (part-time, weekend, or online) provided by top Indian universities mentioned under AA, A, B & C are eligible courses.

• Residency Requirements: Applicant has to be an Indian citizen.

• Admission requirements require obtaining it in a professional or technical course at an Indian premier university.

• Employment Status: Has to be presently working and keep on throughout the course.

Documents Required for Baroda Education Loan for EDP Offered by Premier Institutions in India:

• KYC records of the applicant and co-applicants cover identity and address proof.

• Academic records including certificates, mark sheets, and other pertinent learning materials.

• Proof of entrance to the course and admission confirmation are required.

• Entrance Exam Result: Depending on the program, necessary if any

• Course Expenses: Statement of study expenses.

• Salary slips or job letters for income and employment proof.

• The bank account statement for the last six months.

• Should collateral be needed, we refer to property documentation.

Most Important Terms and Conditions

• You can borrow up to ₹20 lakhs and repay within 10-15 years after the moratorium period (course duration + 3 months).

• The loan covers tuition fees, books, and equipment. However, living expenses, coaching fees, and child education allowance aren't included.

• No collateral for loans up to ₹15 lakhs. Above ₹4 lakhs, a 5% margin applies.

• Processing Fees: ₹7,500 (only if mortgaged).

• Funds are paid directly to institutions or vendors. Interest payments qualify for deductions under Section 80E.

• This loan is intended for Executive Development Programs and is not applicable to a child investment plan.