BOB Bank
Education Loan for Studing Abroad
Get Free Education Loan Assistance From Collegepond
- Interest Rate Starting from 9.0%
- Loan Amount 1 CR
- Processing Fees up to 0.5% + GST
How it Works
Simple 5 Step Digital Process Obtain an Education Loan
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 on your behalf to ensure the lowest interest rates and the highest loan amount possible.
Education Loan Approval
and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
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 on your behalf to ensure the lowest interest rates and the highest loan amount possible.
Education Loan Approval and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Bob Bank Education Loan for studying abroad
All You Need to Know about SBI Bank Education Loans for Studying Abroad
Table of Contents
About the Lender
Bank of Baroda, a leading public sector bank in India, offers the Baroda Scholar education loan scheme to support students aspiring to pursue higher education abroad. This scheme is designed to provide financial assistance for various expenses associated with overseas education.
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.
Eligibility Criteria
- Nationality: Indian.
- Admission: Secured admission to professional or technical courses at recognized foreign universities or institutions.
Required Documents
- Applicant and Co-applicant:
- Completed loan application form.
- Photographs.
- Proof of identity and residence.
- Academic records.
- Admission letter from the foreign institution.
- Statement of expenses.
- Income proof of co-applicant (e.g., salary slips, IT returns).
- Collateral documents (if applicable).
Application Process via Collegepond
- Initial Consultation: Engage with Collegepond counselors to assess loan requirements and eligibility.
- Document Compilation: Gather necessary documents as advised.
- Application Submission: Complete and submit the loan application through Collegepond’s platform.
- Processing and Approval: Bank of Baroda reviews the application, and upon approval, issues a sanction letter.
- Disbursement: Funds are disbursed as per the institution’s fee schedule.
Interest Rate
Loan Disbursement Process:
Disbursements are made directly to the educational institution’s account as per the fee structure, ensuring timely payments aligned with academic requirements.
Loan Processing Charges
1% on sanctioned amount + GST
Income Tax Benefits under Section 80E
Interest paid on the education loan is eligible for tax deduction under Section 80E of the Income Tax Act, applicable for up to eight years from the start of repayment.
For comprehensive details and personalized assistance, students are encouraged to consult with Collegepond counselors and refer to the official Bank of Baroda website.
Our Partners
FAQ's
What is the Duolingo English Test?
asfsvasc
What is the cost of the DET Test using Collegepond's Duolingo Discount Code?
sdvsdgvda
