Education Loan EMI Calculator
Education Loan EMI Calculator
  • Loan Amount:

    10000
    10000000
    500000
  • Rate of Interest (%):

    5%
    15%
    8.15
  • Loan Terms (monthly):

    12
    180
    180
  • Equated Monthly Installment (EMI) will be

  • Benefits
  • Features
  • Eligibility
  • List of Premium Institutions (India)
  • Interest rates & charges
  • Documents Required
  • Most Important Terms and Conditions (MITC)

Baroda Education Loan for EDP being offered by Premier Institutions in India : Benefits

Baroda Education Loan for EDP being offered by Premier Institutions in India : Features

This study loan is offered to resident Indians who must have secured admission in the institute and should be employed during the course of study

Baroda Education Loan for EDP being offered by Premier Institutions in India : Eligibility

Courses Eligible

Executive Development Programmes (part time/weekend/online/programmes) being offered by premier institutions as listed under List AA, A, B & C of premier institutions in India (including the programmes offered using the technology platform of Hughes Global Education, Times Pro, etc.)


Student Eligibility
  • Should be Resident Indian.
  • Secured admission in professional/technical courses in India conducted by premier institutions as listed in list AA, A, B & C.
  • Should be gainfully employed and would continue to be in gainful employment during study.

Baroda Education Loan for EDP being offered by Premier Institutions in India : List of Premium Institutions (India)

Baroda Education Loan for EDP being offered by Premier Institutions in India : Interest rates & charges

Floating Rates:

Product Category Repo Rate + Spread Effective Rate of Interest
Baroda Education Loan to Students of Premier Institutions (For Studies in India)
Category
AA
Repo Rate + Spread
BRLLR - 1.00%
Effective Rate of Interest
0.00%
Category
A
Repo Rate + Spread
BRLLR - 0.70%
Effective Rate of Interest
0.00%
Category
B
Repo Rate + Spread
BRLLR + 0.60%
Effective Rate of Interest
0.00%
Category
C
Repo Rate + Spread
BRLLR+ 0.80%
Effective Rate of Interest
0.00%

Rate of Interest for Children of defence personal Under Baroda Yoddha EDP education Loan (For Studies in India) Scheme is same as Baroda Executive Development Premier Institutions (For Studies in India).


Fixed Rates:

Product Category Repo Rate + Spread Effective Rate of Interest
Baroda Education Loan to Students of Premier Institutions (For Studies in India)
Category
AA
Repo Rate + Spread
BRLLR + 1.00%
Effective Rate of Interest
0.00%
Category
A
Repo Rate + Spread
BRLLR + 1.30%
Effective Rate of Interest
0.00%
Category
B
Upto Rs.7.50 Lakh
Repo Rate + Spread
Base rate +2.00%
Effective Rate of Interest
0.00%
Above Rs 7.50 lakh
Repo Rate + Spread
BRLLR + 2.60%
Effective Rate of Interest
0.00%
Category
C
Upto Rs.7.50 Lakh
Repo Rate + Spread
Base Rate + 2.00%
Effective Rate of Interest
0.00%
Above Rs 7.50 lakh
Repo Rate + Spread
BRLLR + 2.80%
Effective Rate of Interest
0.00%

Rate of Interest for Children of defence personal Under Baroda Yoddha EDP education Loan (For Studies in India) Scheme is same as Baroda Executive Development Premier Institutions (For Studies in India).


  • No special concession for female students under this scheme.
  • Servicing of interest during the moratorium period will be compulsory.

Baroda Education Loan for EDP being offered by Premier Institutions in India : Documents Required

  • KYC of applicant and co-applicants
  • Academic Records
  • Proof of admission
  • Entrance Exam Result(if applicable)
  • Statement of cost of study/ Schedule of expenses
  • Income Proof
  • Employment Proof
  • Bank account statement for last 6 months etc
  • Property Documents (if applicable)

Baroda Education Loan for EDP being offered by Premier Institutions in India : Most Important Terms and Conditions (MITC)

Target group

Students pursuing executive development programmes (part time/weekend/online/programmes) being offered by premier institutions as listed under list AA, A, B & C of premier institutions in India (including the programmes offered using the technology platform of Hughes Global Education, Times Pro etc., professional and other courses in India).


Quantum of finance

Maximum Rs. 20 lakhs


Margin

Up to Rs. 4 lakhs: Nil

Above Rs. 4 lakhs: 5%


Repayment Holiday/ Moratorium Period

Course period + 3 months.


Coverage of expenses for
  • Fee payable to college/institution/university/school/hostel.
  • Examination/library/laboratory fee.
  • Purchase of books/equipment/instruments/uniforms.
  • Caution deposit, building fund/refundable deposit supported by institution bills/ receipts, subject to condition that the amount does not exceed 10% of the total tuition fees for the entire course.
  • Purchase of personal computer/laptop - essential for completion of the course.
  • Insurance premium for student/borrower, if any opted by the student. Presently the bank has a tie up arrangement with M/s. India First Life Insurance Co and M/s. Kotak Life Insurance co for Group Credit Life insurance cover to education loan borrowers.
  • Any other expenses required to complete the course like study tours, project works, thesis, etc.
  • Except the living expenses, hostel charges, mess charges, other living expenses and cost of external coaching/tuition.

Note: The details of expenses for the entire course period to be obtained from college/institution.


Repayment Period
  • The loan is repayable in maximum 10-15 years after the completion of the moratorium period as mentioned above.
  • For loans up to Rs. 7.5 lakhs : Moratorium Period + Maximum 120 instalments
  • For Loans above Rs. 7.5 lakhs : Moratorium Period + Maximum 180 instalments

Unified Processing charges

NIL for all cases

A non-refundable lump sum amount Rs.7,500 per property (towards advocate and valuer charges) to be taken upfront in case of all education loan accounts, wherever property is mortgaged.


Security

Collateral free Loan up to Rs. 15 lakhs

100 % Collateral Security for Loan above Rs. 15 lakhs for full value of loan


Disbursement

Directly to school/Institution/year wise, in stages as per the requirement/demand.

Directly to the book seller/shop for purchase of books, instruments, equipment.


Financing Branch

Branch in the vicinity of the institute.

OR

Branch which is in close proximity to the permanent residence of parent/at the place of posting/service of the parent branch.


# In case where the programmes are being offered by these premier institutions in collaboration with the technology partners like Huges, Times Pro etc., the centres of such technology partners may be treated at par with the institutions and a branch in the vicinity of the centre of such technology partners can also sanction.


Interest Servicing

Servicing of interest during the moratorium period will be compulsory

Frequently Asked Questions (FAQs)

  • What is an EDP Education Loan?

    Candidates who have gained admission into the Executive Development Programme (EDP) are welcome to apply for BoB educational EDP loan. This loan aids the students who require financial support to pay their course fees in India.

  • What are the eligible courses under this EDP scheme?

    The eligible courses offered by Indian premier institutions (AA, A, B, and C) fall under 3 types of programs – Part-time, weekend, and online. BoB’s premier list of institutions in 2022 includes Hughes Global Education, Times Pro, etc.

  • What is the maximum loan amount one can get under this scheme?

    Opting for Indian premier institutes, the bank can lend up to Rs. 20 lakhs. For international institutions, the amount goes up to Rs. 80 lakhs.

  • What is the maximum loan amount one can get without security under this scheme?

    For collateral-free educational loans in India, the amount is Rs. 15 lakhs.

  • What do you mean by margin money on loans?

    Over and above the amount lent by the bank, the student/borrower has criteria to contribute a certain percentage to the loan amount.

  • What is the margin money on loans over 4 lakhs?

    The margin for a bank of Baroda education loan is 5% for loan amounts over Rs. 4 lakhs.

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