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Baroda Education Loan to Students of Premier Institutions
The Baroda Education Loan for students of premier institutions is crucial as it enables them to get financial support for their education at prominent universities and colleges. These loans offer amazing benefits like minimal collateral requirements, lower interest rates, and a complete waiver of charges. This, in turn, makes it possible for students to access high-quality education without incurring a heavy financial burden. The Baroda Digital Education loan is ideal for talented students in diverse backgrounds to pursue their aspirations at top-ranking institutions.
Invest in Your Child's Future:Give Your Child the Most Valuable Gift of Education
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- Baroda Education Loan to Students of Premier Institutions
About Baroda Education Loan Scheme
The Baroda Education Loan to Students of Premier Institutions is a designated loan from the Bank of Baroda to students who acquire access to the top-ranking colleges and universities. It allows the students to receive high loan amounts with low interest rates and minimal collateral as compared to standard educational loans. Additionally, this scheme offers great tax benefits under Section 80E of the Income Tax Act.
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Loan Amount
₹
- ₹10 K
- ₹1,00,000
- ₹5,00,000
- ₹10,00,000
- ₹50,00,000
- ₹1,00,00,000
- ₹2,00,00,000
- ₹4,00,00,000
- ₹6,00,00,000
- ₹8,00,00,000
- ₹10 Cr
Interest Rate
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- 26
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- 30%
Loan Tenure
Yrs
- 1 Yr
- 2
- 3
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- 30 Yrs
Total Interest
Principal Amount
Baroda Education Loan to Students of Premier Institutions - Rate of Interest
Below is a list of the interest rates available for each category of the education loan to students of premier institutions:
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Category AA: Repo Rate + Spread (BRLLR - 1.00%) = Effective rate of 7.90%
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Category A: Repo Rate + Spread (BRLLR - 0.70%) = Effective rate of 8.20%
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Category B: Repo Rate + Spread (BRLLR + 0.60%) = Effective rate of 9.50%
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Category C: Repo Rate + Spread (BRLLR + 0.80%) = Effective rate of 9.70%
Features of the Baroda Education Loan Scheme
The following are the features of the Education Loan Scheme for students of premier institutions:
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No fees for processing: The Bank of Baroda offers loans with no processing fees to students in premier institutions.
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No collateral requirement: Students in premier institutions acquiring loans up to INR 40 lakhs are not required to have collateral.
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Great interest rates: The interest rates of loans to premier institutions start at 8.15% per year.
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Flexible repayment period: The Bank of Baroda offers up to 15 years for students in premier institutions.
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Special offers: For students of Army personnel, there are special offers for loans.
Eligibility of the Baroda Education Loan Scheme
For you to acquire an educational loan, the following have to be met:
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Nationality: Students must be of Indian nationality
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Proof of admission: Students must secure admission to a technical or professional course in a recognised premier institution in India.
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Course type: Students must be enrolled in courses including medicine, engineering, law, economics, management, and design.
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Exam: Students may be required to qualify for relevant entrance exams such as NEET, JEE, and CAT.
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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child
Standard T&C Apply *
Documents Required for Baroda Education Loan
In order for you to qualify for an education loan, the following documents should be submitted:
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Proof of identity
Aadhaar Card, Voter ID, Passport
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Proof of address
Ration Card, Utility bill
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Proof of admission
Letter of admission from the premier institution
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Academic records
Certificates and mark sheets of the previous qualifications
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Proof of income
Income tax returns, salary slips, Form 16
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Bank statements
Bank account statements from the last 6 months
Most Important Terms and Conditions
Some of the most important terms and conditions that a student applying for the education loan should learn include:
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Loan amount
The premier institution's category determines the loan amount you can apply for, and it can go up to INR 40 lakhs without collateral requirements.
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Repayment
The repayment period of the educational loan can be extended to 15 years; this includes the moratorium period.
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Interest rate
The interest rates of each loan are linked to repo rates and vary depending on the premier institution category.
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Processing fees
The loans offered have no processing fees to students in premier institutions.
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Prepayment charges
There are no prepayment charges for the educational loans offered.
FAQs
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What is the maximum loan amount I can avail of under this scheme?
You can get a loan of up to INR 40 lakhs without any collateral requirements. -
Are there any tax benefits associated with this loan?
Yes, there are tax benefits under Income Tax Section 80 E of the Act. -
What is the repayment period for the Baroda Education Loan?
The repayment period of the child investment plan through Baroda Education Loan can extend up to 15 years, which includes the moratorium period. -
Is there any processing fee for this loan?
No, there is no processing fee for the education loan offered to students in premier institutions. -
How do I calculate my EMI?
You can use an Income Tax Calculator to estimate your EMI and repayment amount.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.