For Your Bravery and Honour

1. Name Baroda Yoddha Education Loans (all variants)
2. Eligibility For wards of defence personnel

Special interest rates for children of Defence personnel under Baroda Yoddha Education Loan Scheme:

Product Existing Rate of Interest (%)
Education Loan to Students of  Premier Institutions and Executive Development Programmes for study in Premier Institutions for Domestic Study AA category BRLLR
A Category BRLLR
B Category BRLLR + 0.50
Premier C BRLLR + 0.75
Baroda Gyan BRLLR + 1.10
Baroda Scholar-Premier
Baroda Scholar-Non Premier
Executive Development Programmes for study abroad (Premier Institutions)
 

Special concession in ROI @ 0.50% for female students is available.

Additional Risk Premium @ 0.10% (All Education loans above Rs 7.50 lakhs) over the above rates would be applicable for customers not obtaining Group Credit Life/ Life Insurance cover to the extent of the loan amount.


Further, there are 12-colleges/Institutions as under governed by “Army Welfare Education Society”. For study in these institutes, Loan to children of defence personal to be considered with following relaxation in parameters.

Institutes
Army Institute of Technology, Pune Army Institute of Fashion and Design, Bengaluru Army College of Dental Sciences, Secunderabad.
Army Institute of Management and Technology (AIMT), Greater NOIDA Army Institute of Education (AIE), Greater NOIDA Army College of Nursing (ACN), Jalandhar Cantt
Army Institute of Management, Kolkata Army Institute of Law (AIL), Mohali Army Institute of Nursing (AIN), Guwahati
Army Institute of Hotel Management and Catering Technology, Bengaluru Army Law College (ALC) Pune, Kanhe, Pune Army College of Medical Sciences, Delhi Cantt
 

Parameters:

Parameters  
Security Unsecured: Rs 25.00 lacs
ROI
Security Revised Rate of Interest (%)
Secured Loan (100% of the loan) BRLLR+0.45
Unsecured Loan BRLLR+0.90  
Process Charge NIL
Margin NIL

All other guidelines and criteria shall be remain unchanged.

  • Operating units to explore opening of Salary account for the defence personnel with our Bank.
  •  The students would mandatorily open the savings account with the Bank.
  •  Mandatory GCLI for the students seeking unsecured loan for taking admission in AWES institutions
  •  Assignment of Term Life policy of Defence Personnel/Co-applicant in favor of the Bank to be explored

Frequently Asked Questions (FAQs)

  • What is Baroda Yoddha Education Loan?

    The Baroda Yoddha Education Loan is an education loan for defence personnel that offers the children of defence personnel to pursue their educational aspirations without financial constraints.

  • How can I apply for a Baroda Yoddha Education Loan?

    There are multiple modes of application for applying to the Baroda Yoddha Education Loan-

    • Branch Application: Visit the nearest Bank of Baroda branch and receive personalised guidance.
    • Education Loan Sanction Cell (ELSC): Connect with the specialised Education Loan Sanction Cell for dedicated assistance.
    • Online Application: Apply online by visiting Bank of Baroda's official website at https://www.bankofbaroda.in/personal-banking/loans/education-loan.
    • Vidya Lakshmi Portal: Apply directly through the Vidya Lakshmi Portal.
  • Who is eligible for the Baroda Yoddha Education Loan scheme?

    The Baroda Yoddha Education Loan extends its eligibility to the children of defence personnel, offering them the opportunity to access financial support for their educational pursuits.

  • Which countries does the Baroda Yoddha Education Loan scheme provide financial support for?

    There is no country restriction for this particular education loan for defence personnel.

  • How much loan can I avail of the Baroda Yoddha Education Loan?

    The maximum amount of education loan for defence personnel is set at Rs. 150 lakhs for overseas studies and Rs. 125 lakhs for studying in India through the Baroda Yoddha Education Loan scheme.

  • What costs are covered under Baroda Yoddha Education Loan?

    The Baroda Yoddha Education Loan covers all necessary expenses related to the course, excluding the cost of external coaching or tuition.

  • If the Baroda Yoddha Education loan request has been rejected by Bank of Baroda once, can the applicant apply again?

    Yes, the Baroda Yoddha Education Loan scheme allows an applicant to apply again for the education loan for defence personnel.

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