Bank Of Baroda
Education Loan
BOB Education Loan
For Studying Abroad
Free Education Loan Assistance From Collegepond!
Interest Rate
Starting from 9.75%
Loan Amount
1 Crore
Processing Fees
up to 0.5% + GST
Education Loan Process at Collegepond
Simple 4 Step Process to Obtain an Education Loan via Collegepond!
Verify Your Education
Loan Eligibility
Use our free tool to check your eligibility and access conditional loan options instantly.
Connect with our
Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and
Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval
and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Connect with Our Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Why Choose Bank Of Baroda for Education Loan?
All You Need to Know about Bank Of Baroda Education Loan
Table of Contents
About Bank Of Baroda
Bank of Baroda (BoB), established in 1908, is one of India’s largest and most respected public sector banks, known for its extensive global reach and customer-first approach. With a legacy of over a century, the bank has consistently supported students in achieving their higher education dreams through specialized loan products.
BoB’s education loan offerings—like Baroda Scholar and Baroda Gyan—are designed to cater to the unique financial needs of study abroad aspirants by providing competitive interest rates, easy repayment terms, and comprehensive coverage of education-related expenses. With operations across 90+ countries, BoB’s robust banking infrastructure ensures hassle-free loan disbursals and transparent service.
Key USPs
- Loan Amount: Up to ₹150 lakhs, covering tuition fees, travel expenses, and other related costs.
- Interest Rate: Competitive rates with concessions:
- 0.50% concession for female students.
- Additional 0.50% concession for students pursuing medical courses like MBBS, MS, etc.
- Processing Charges: 1% of the loan amount (maximum ₹10,000), refundable upon first disbursement.
- Repayment Tenure: Up to 15 years, with a moratorium period covering the course duration plus one year or six months after securing employment, whichever is earlier.
Required Documents
Applicant:
- Completed loan application form.
- Photographs.
- Proof of identity and residence.
- Academic records.
- Admission letter from the foreign institution.
- Cost of education estimate.
Co-applicant:
- Income proof of co-applicant (e.g., salary slips, IT returns).
- Proof of identity and residence.
- Collateral documents (if applicable).
Application Process via Collegepond
While specific details about applying through Collegepond are not provided in the available sources, the general application process with Bank Of Baroda involves:
- Connect with Our Education Loan Advisors: Consult our dedicated loan advisors for personalized guidance and process insights.
- Share Documents and Complete the Application: Submit your documents and fill out the required forms for bank verification
Secure the Best Education Loan Offer: Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
- Education Loan Approval and Fund Disbursement: Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Eligibility Criteria
- Nationality: The applicant must be an Indian citizen.
- Admission Confirmation: Must have secured admission to a recognized university or institution abroad through merit-based selection or entrance examination.
- Course Type: Eligible for graduate, postgraduate, diploma, or professional courses abroad.
- Co-applicant Requirement: A co-applicant (parent, guardian, or spouse) with a stable income is mandatory.
- Academic Record: A consistent academic track record is preferred.
- Collateral (if applicable): For higher loan amounts, tangible collateral security may be required as per bank norms.
Loan Disbursement Process
Once the education loan is sanctioned and the student receives the official sanction letter, Bank of Baroda initiates the disbursement process in alignment with the fee structure and academic calendar of the institution.
The loan amount is released in phased installments directly to the university or college, covering tuition fees, accommodation charges, and other approved expenses. This structured disbursement ensures timely payments and financial continuity, allowing students to focus on their academics without financial stress.
Loan Processing Charges
Specific details about processing fees are not provided in the available sources. It’s advisable to contact Collegepond directly to avail discounts of upto 0.5% on the Processing Fee.
Income Tax Benefits under Section 80E
Borrowers can claim 100% deduction on interest paid for up to 8 years under Section 80E of the Income Tax Act—making the loan not just affordable, but also tax-smart.
For comprehensive details and personalized assistance, students are encouraged to consult with Collegepond counselors and refer to the official Bank of Baroda website.
Interest Rate
Bank of Baroda offers competitive interest rates on education loans, tailored to make overseas education more accessible. The interest rate is linked to the bank’s prevailing Repo Linked Lending Rate (RLLR) with an added margin, ensuring transparency and alignment with market conditions.
Female applicants benefit from a 0.50% concession on the applicable rate. Additionally, interest is calculated on a simple interest basis during the moratorium period, helping reduce the overall repayment burden.
Why Choose Collegepond for Your Education Loan?
Personalized Loan Advisory: Our experts assist you in selecting the most suitable lender and navigating the loan sanctioning process efficiently.
✅ End-to-End Assistance: From application to disbursement and even repayment, we ensure a smooth, hassle-free journey—even after you receive the Bank Of Baroda loan sanction letter.
✅ Fast-Track Processing:
- Unsecured Loans: Sanctioned within 3 days.
- Secured Loans: Typically processed within 10-14 days.
✅ Exclusive Interest Rate Discounts: We help you negotiate competitive interest rates, often securing an additional discount of 0.5-2%.
✅ 100% Digital Process: No need for multiple bank visits! Our digitized loan application process ensures quick approvals from the comfort of your home.
With Collegepond’s expertise, you don’t just get a loan—you get the best financial solution to fund your global education dreams.
Choose from the Best Loan Partners
Testimonials
I’m extremely grateful to Collegepond for securing the right education loan for my study abroad journey. The entire process was seamless, with no documentation hassles. Their dedicated support and expert guidance ensured everything went smoothly. I highly recommend Collegepond for stress-free financial assistance. Thank you once again!
Collegepond provided exceptional support in my study abroad journey, making my MS application process seamless. Their professionalism and prompt responses addressed all my concerns. Special thanks to Sai Teja from the finance team for his invaluable guidance in securing my education loan. I highly recommend Collegepond for reliable education loan and higher education assistance!
I highly recommend Collegepond to anyone pursuing study abroad opportunities. Their expertise and dedication were evident throughout my journey. Kavita’s assistance made my education loan process seamless, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased the process, making my dream a reality. Truly grateful for their exceptional support!
I had an amazing experience with Collegepond in Mumbai during my study abroad journey, especially with Ms. Zainab Qureshi. Her dedication and professionalism made my loan process seamless. She provided constant support, detailed guidance, and proactive follow-ups. I highly recommend Collegepond and Ms. Zainab for reliable and efficient loan consultancy services!
I had a wonderful experience with Collegepond during my study abroad journey, especially with Mukesh, who provided exceptional education loan support. He explained everything clearly and resolved issues promptly. His dedication ensured a smooth process. I highly recommend Mukesh and Collegepond for reliable and professional financial guidance!
Thanks to Collegepond, my son can now pursue his study abroad dream—his Master's in IT and Analytics at Rutgers Newark. After months of PSU bank delays, Collegepond secured his education loan within a month. Their seamless process, expert guidance, and quick approvals made all the difference. Truly grateful for their exceptional support! Testimonial by Aditya’s Father
I highly recommend Collegepond for study abroad and education loan support. Their expertise made my journey seamless. Kavita ensured a hassle-free loan process, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased every step, making my dream a reality. Truly grateful for collegepond education loan teams exceptional support!
Collegepond Loan Services are ideal for study abroad aspirants seeking an education loan. Their network offers great rates and seamless processing. The team’s guidance made my loan journey smooth, and their quick FOREX services impressed me. Highly recommend Collegepond for hassle-free financial support. Truly grateful for their support!
FAQ's
What is the maximum education loan amount Bank of Baroda offers for study abroad?
Bank of Baroda offers up to ₹150 lakhs for students pursuing higher education abroad under the Baroda Scholar scheme.
What is the interest rate for Bank of Baroda education loans for overseas studies?
Interest rates are linked to RLLR with attractive concessions — 0.50% for female students and an additional 0.50% for medical students.
What are the eligibility criteria for Bank of Baroda study abroad loans?
Applicants must be Indian citizens with confirmed admission in a recognized foreign university for a professional or technical course.
Is collateral required for a Bank of Baroda education loan?
Collateral is typically required for loan amounts above ₹7.5 lakhs. However, exceptions may apply based on the borrower’s academic and financial profile.
What expenses are covered under Bank of Baroda education loans?
The loan covers tuition, travel, living costs, exam fees, study materials, insurance, and laptop purchases.
What is the loan repayment period and moratorium offered?
Repayment tenure extends up to 15 years with a moratorium during the course period plus 12 months or 6 months post-employment, whichever is earlier.
Are there any processing charges for Bank of Baroda education loans?
Yes, 1% of the loan amount is charged as a processing fee (max ₹10,000), refundable on the first disbursement.
How is the loan disbursed under the Baroda Scholar scheme?
The loan is disbursed in installments directly to the university based on the academic fee schedule provided.
Are there tax benefits under Bank of Baroda’s education loan?
Yes, interest paid qualifies for tax deduction under Section 80E of the Income Tax Act for up to 8 years.
Can Collegepond help with the Bank of Baroda education loan process?
Absolutely. Collegepond offers end-to-end assistance — eligibility check, documentation, application, and follow-up with the bank for faster processing.
