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 realize your dreams and achieve your goals.

Eligibility

Student

• Should be an Indian National.
• Secured admission to Professional/Technical Courses at foreign Universities/Institutions.
• No minimum qualifying marks.

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

Loan Details

Coverage of expenses

• Admission/ Tuition fees to College/University.
• Hostel/ Mess charges.
• Examination/Library/ Laboratory fee.
• Purchase of books/ equipments/ instruments/ uniforms.
• Caution deposit/ building fund/ refundable deposit supported by institution bills/ receipts.
• 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.

Quantum

• Graduation & Other Courses up to 3 years duration : Rs.10 Lacs
• Post graduation and other advanced studies : Rs.15 Lacs

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.

Zero processing and documentation charges. Drafts in foreign currencies drawn on the bank branches/ subsidiaries required in favour of College/University/Student will be issued free of exchange/commission.

Rate of Interest

• Up to Rs.4.00 lacs - 12% p.a.
• Above Rs. 4.00 lacs - BPLR + 0.75 (ie 14%) p.a.

Simple interest to be charged during the repayment holiday/moratorium period. Penal interest @ 2% p.a. charged on overdue amount if loan exceeds Rs.4/- lacs. 1% interest concession to be provided if the interest debited during the repayment holiday is serviced.1% Concession in rate of interest to loans for girl students.

Repayment
Repayment holiday/ moratorium period is course period + 1 year, or 6 months after getting job, whichever is earlier. The loan is repayable in 5 years after the above period.

If the student is not able to complete the course within the scheduled time extension of time for completion of course may be permitted for a maximum period of 2 years.

If the student is not able to complete the course for reasons beyond his control, Bank may at its discretion consider such extensions as may be deemed necessary to complete the course. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Installments (EMI) be fixed.