Education Loan

Education loan or student loan is a form of monetary assistance availed by students to meet the expenses associated with their studies. The student loan includes expenses related to school fees, post-secondary education or cost associated to higher education.

Bank of Baroda offers various education loans at attractive interest rates with repayment tenure of up to 15 years. No collateral needs to be provided for education loans of up to Rs. 40.00 lakh for the identified premier institutes. Maximum Education Loan limit is Rs.125.00 lakh for study in India and Rs.150.00 lakh for study abroad.

Opting for an education loan reduces the strain on existing savings and eliminates the need to liquidate the existing investments. The interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961

To apply for education loan online one needs to visit the bank’s website https://www.bankofbaroda.in/personal-banking/loans/education-loan

The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad.

For study in India one can get Education Loan up to - Rs.125.00 lakh

For study abroad one can get Education Loan up to - Rs.150.00 lakh

Starting from BRLLR+0.25 % for study in India & BRLLR+1.75% for study abroad. For Current ROI kindly visit our Interest Rates & Charges page.

The education loan can be paid using any online channel like net banking, mobile banking etc. The Borrower will have also a choice to pay the Education loan by visiting the nearby branch.

Co-applicant should normally be parent(s)/guardian of the student borrower. In case of a married person, joint borrower can be either spouse or the parent(s)/parents-in-law as a co-applicant for Education Loan.