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Bank of Baroda Education Loan Scheme - Baroda Scholar

Posted Date: 18 Apr 2008 Resource Type: Articles/Knowledge Sharing Category: Educational Loans

Posted By: Bala Member Level: Diamond
Rating:

Points: 6

Bank of Baroda Education Loan Scheme - Baroda Scholar

Baroda Scholar

Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...

Terms & Conditions

Eligiblity of Courses :

Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.

Student Eligiblity :

Should be an Indian National.

Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.

Coverage of expenses (for overseas studies) :

Admission/Tuition fees to College/University.

Hostel/Mess charges.

Examination/Library/Laboratory fee.

Purchase of books/equipments/instruments.

Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.

One way travel expenses/Passage money.

Purchase of computers if essential for completion of the course.

Any other expense required to complete the course e.g. study tour, project work, thesis etc.

Maximum amount of loan :

Graduation & Other Courses up to 3 years duration : Rs.10 Lacs

Post graduation and other advanced studies : Rs.15 Lacs

Margin : 15% Repayment Period :

Repayment Holiday/Moratorium Period :

Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan is repayable in 5-7 years after the above period.

Security :

Upto Rs.4.00/- lacs : No security

Above Rs. 4.00/- lacs upto Rs. 7.5 lacs : Collateral in the form of a suitable third party guarantee.

Above Rs. 7.5 lacs : Collateral security equal to 100% of loan amount.

Rate of Interest :

Simple interest during repayment holiday/moratorium period.

1% interest concession, if interest debited during the repayment holiday is serviced.

1% Concession in rate of interest to loans for girl student.

Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

For more details, visit http://www.bankofbaroda.com/pfs/scholar.asp

Responses

Author: Shinu 31 May 2008

Member Level: Gold Points : 2

I was looking for information on loans. I have been interested in this and happy to read more about it.Thanks for the information

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