Bank of Baroda Baroda Education Loan
बैंक ऑफ बड़ौदा बड़ौदा शिक्षा ऋण योजना
Bank of Baroda's core IBA-aligned education loan offering competitive BRLLR-linked rates, up to ₹7.5L collateral-free, and flexible 15-year repayment.
Max Loan Amount
Up to ₹7.5 Lakh (No Collateral) / Up to ₹80 Lakh (Domestic) / Up to ₹1.5 Cr (Abroad)
Interest Rate
8.40% – 9.90% p.a. (Baroda BRLLR linked with 0.50% concession for female students)
Moratorium Period
Course duration + 1 year
Repayment Tenure
Up to 15 years
✦ What the Loan Covers (Eligible Expenses)
Tuition, examination, library, lab fees, hostel/living expenses, uniform, books, laptop, study tours, project work.
What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Costs
Eligo disclosure: Bank loan brochures and DSA agents rarely highlight these conditions. Verify before signing your loan agreement.
Parental joint obligation is mandatory; credit score of parent must be 700+ to obtain lowest interest band; fee disbursement is made directly to the educational institution in installments, never as a lump sum to student; prepayment is penalty-free only under floating rate.
✦ Collateral & Margin Money Terms
Collateral & Guarantee Requirement:
Nil up to ₹7.5 Lakh (CGFSEL covered); Tangible collateral security equivalent to 100% of loan amount required above ₹7.5 Lakh.
Margin Money (Borrower Contribution):
Nil up to ₹4 Lakh; 5% for domestic studies > ₹4L; 15% for studies abroad > ₹4L.
✦ Eligibility Requirements
Indian citizen who has secured admission to higher education course in recognized Indian or foreign university through entrance exam or merit selection.
✦ Government Subsidies & Rate Concessions
Covers CSIS interest subsidy for EWS/LIG families (<₹4.5L income) during moratorium period.
✦ Required Documents Checklist
Vidya Lakshmi application confirmation, admission offer letter, fee schedule, 10th/12th/degree marksheets, parent KYC, 6-month salary/bank statement, property deed for loans > ₹7.5L.
✦ How to Apply Step-by-Step
1. Apply on vidyalakshmi.co.in.
2. Submit Baroda Education Loan application.
3. Upload academic records and income proofs.
4. Complete digital in-principle approval via Baroda Digital Loan portal or branch.
5. Execute loan agreement and disburse directly to college.Official Portal
Official Portal / Lender Domain
Apply or verify directly on the official banking portal
✦ Frequently Asked Questions
What is the maximum loan amount under Baroda Education Loan?▼
Up to ₹80 Lakh for domestic courses in approved non-premier institutions and up to ₹1.50 Crore for overseas studies with adequate collateral.
Is there any processing charge for Bank of Baroda education loans?▼
For studies in India, zero processing fee is charged. For studies abroad, a refundable processing charge of approximately ₹10,000 is collected and refunded upon first disbursal.
Can I claim income tax deductions on Baroda Education Loan?▼
Yes. Entire interest paid during repayment is eligible for deduction under Section 80E of the Income Tax Act for up to 8 continuous financial years.