Baroda Gyan

About Baroda Gyan Scheme

Managing costs can be challenging when you are planning for Indian higher education. The Baroda Gyan scheme can help you with tuition, exams, books, and hostel fees. This loan is for parents or guardians to fund a student's education without pressure. It will enable you or your child to focus on studies without burden. This can be a consideration if you want a hassle-free way to fund education.

Baroda Gyan: Rate of Interest

This loan interest adopts a structure that follows Bank of Baroda’s Repo Rate Linked Lending Rate (BRLLR).

• The interest rate for loans below ₹7.50 lakh consists of BRLLR + 2.00% (10.90%).

• For loans above ₹7.50 lakh: BRLLR + 1.90% (10.80%)

• Special Rate for Defence Personnel’s Children: BRLLR + 1.10% (10.00%)

The additional concession of 0.50% helps female students lower their higher education costs.

Features of Baroda Gyan Scheme

1. Loan Coverage

   • Tuition fees, examination fees, books, equipment, and other educational expenses.

   • Accommodation and hostel charges, e.g. caution and refundable deposit.

   • Laptop or computer purchases that are required for coursework.

2. Processing Fees

   • No loan processing charges for loans up to ₹7.50 lakh.

   • No documentation charges.

   Investment

   Secure

   

   Secure your child’s future with or without you

   Start Investing

   ₹10,000/Month

   & Get

   ₹1 Crore^*

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   *Standard T & C Apply

3. Repayment and Moratorium Period

   • Moratorium period: Course duration + 1 year.

   • Repayment tenure:

     •  ₹7.50 lakh or below: 10 years

     • Above ₹7.50 lakh: 15 years

4. Security Requirements

   • Up to ₹7.50 lakh: No collateral, only parental guarantee required.

   • Above ₹7.50 lakh: Collateral security equals 100% of the loan amount.

Eligibility for Baroda Gyan Loan

The following conditions are to be met to be eligible for the Baroda Gyan scheme:

• The student must be an Indian national or a Non-Resident Indian (NRI).

• Admission should be in a recognised Indian undergraduate, postgraduate, or professional course.

• The programs should be UGC, AICTE, ICMR, or central or state government-approved institutes.

Documents Required

Applying for a Baroda Gyan loan requires submitting crucial documents, which include:

• Identity and Address Proof: Aadhaar card, PAN card, or passport.

• Academic Records: Past mark sheets and admission letter from the institution.

• Fee Structure: Detailed breakdown of tuition and other charges.

• Income Proof: Salary slips or income-tax returns from parents or guardians.

• Bank statements for the past 6 months.

Most Important Terms and Conditions

• Educational institutions and hostel authorities receive loan disbursements directly from the loan program.

• The interest that accrues during the moratorium phase becomes part of the principal amount.

•  Section 80E of the Income Tax Act enables students to get tax deductions on their education loan interest payments.

• Prepayment charges:

  • There exists no fee if you pay your loan balance through personal funds.

  • A student faces a charge of 0.50% when they move their loan to another lender.

The Indian educational expenses can be supported through structured financing from Baroda Gyan for students seeking higher education in India. Baroda Gyan provides educational funding through loans that offer favourable interest rates, adjustable payment plans, and tax reduction benefits to allow students to study without financial difficulties.

Before applying for a loan, be sure you fulfill all eligibility requirements while preparing all required documentation. Your knowledge of loan terms, repayment schedules, and tax-deductible benefits will provide you with the tools needed to choose properly for your education costs.