Baroda Vidya Lakshmi Portal

About the Baroda Vidya Lakshmi Portal

The Baroda Vidya Lakshmi Portal lets you access information on various education loans and provides the necessary steps for their application. It allows you to get a Baroda Vidya Lakshmi loan, which covers the costs of students in school education from Nursery level to Class XII. Using the Baroda Vidya Lakshmi portal also allows you to monitor the status of your education loan, making it crucial for better planning and decision-making regarding the funds.

Baroda Vidya Lakshmi Portal - Rate of Interest

The following is the interest rate offered for the Baroda Vidya Lakshmi loan scheme:

• BRLLR + SP + 2.85%

• Loans to female students = 0.50% concession

• Loans above INR 2 lakhs = 2% penal interest

Features of the Baroda Vidya Lakshmi Portal

Below are the features of the Baroda Vidya Lakshmi portal:

• Coverage: The Baroda Vidya Lakshmi loan scheme covers various undergraduate, postgraduate, and technical skill programs. The child education allowance benefits also offer added incentives. 

• Processing Charges: There are no processing charges when applying for the Baroda Vidya Lakshmi loan.

• Documentation: No documentation charges are required when you apply for a loan in the Baroda Vidya Lakshmi portal.

• Security: No collateral requirements exist for applying for the Baroda Vidya Lakshmi loan.

The Baroda Lakshmi Portal allows parents to create an effective child education plan.

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

To be eligible for a Baroda Digital Education loan through the Baroda Vidya Lakshmi Portal, applicants must meet the following criteria:

• Nationality: You must be of Indian nationality

• Admission: You should have been admitted to a recognised high school or Junior College.

• Courses: To access the Baroda Vidya Lakshmi loan, you have to be admitted to the following courses:

  • Nursery to Vth STD

  • VI th to VII STD

  • IXth to XIIth STD

• Disbursement: The loan is to be granted in the name of your mother or father. 

Documents Required

The following are the necessary documents you need to submit while making a child investment plan by applying for an education loan on the Baroda Vidya Lakshmi portal:

• Identity proof: Aadhaar card, voter ID, PAN card

• Academic records: Certificates for classes 10 and 12 and Marksheets

• KYC: KYC for the co-applicants and applicant

• Admission proof: Fee structure and the admission letter of the institute you are enrolling on

• Expenses schedule: A statement of the cost of study

• Proof of income: Salary statement, salary slip, or a copy of Form 16 of the guarantor or co-applicant

• Bank statements: Bank statements for the past 6 months

• Property documents: If applicable

Most Important Terms and Conditions

The following are the terms and conditions you need to note when applying for an education loan on the Baroda Vidya Lakshmi Portal:

1. Target

   The loan is offered only if you are pursuing education from nursery to class XII.

2. Loan amount

   The maximum loan amount you can apply for is INR 4 lakhs.

3. Margin

   There is no margin when applying for the Baroda Vidya Lakshmi loan.

4. Repayment Period

   The repayment of the first instalment is due 12 months after the disbursement of the first loan each year. The Baroda Vidya Lakshmi loan can be repaid in 12 equal monthly installments.

5. Expenses

   The Baroda Vidya Lakshmi loan covers expenses for fees payable, examination fees, library fees, laboratory fees, and caution deposits.