Bank Of Baroda

Overview of Bank of Baroda Education Loan

Bank of Baroda (BoB) Education Loans help Indian students fund their higher education goals in India and abroad through flexible loan options backed by one of India’s largest public sector banks. BoB offers a range of education loan products that cover tuition, living expenses, travel, and other study-related costs. EduFi partners with students to assess eligibility, select the right BoB loan option, assist with documentation, and follow up with the bank, making the loan journey easier and more transparent.

What Is a Bank of Baroda Education Loan?

A Bank of Baroda Education Loan is a term financing product provided to Indian nationals who have secured admission to recognised full-time programmes at accredited institutions in India or overseas. These loans support undergraduate, postgraduate, professional, and specialised courses. The repayment begins after the moratorium period, allowing time for students to complete their studies and find employment before EMIs start.

Why Bank of Baroda Is a Preferred Choice for Students

Bank of Baroda is a trusted public sector lender with wide reach and competitive education loan offerings. It provides attractive interest rates, options for collateral-free loans up to certain amounts, extended repayment tenures, and support for premier institution applicants. Concessions such as interest benefits for female students may also be available. The bank’s presence across India and its established credit process make it a preferred option for many students and families.

Bank of Baroda Education Loan Schemes

Baroda Education Loan (India & Abroad)
This primary loan option covers domestic and international programmes. Loan amounts vary by course, cost, and collateral status. For loans above specified limits, collateral may be necessary, while smaller loans often have no collateral requirement.

Baroda Scholar Scheme
Designed for higher tuition and study abroad needs, the Baroda Scholar Scheme offers support for MBA, MS, MCA, and other programmes with flexible interest terms and structured repayment tenures. Female applicants may receive special concessions.

Baroda Education Loan to Students of Premier Institutions
This variant offers potentially lower interest rates (from around 8.15% p.a.) with no processing charges and collateral-free loans up to defined limits (e.g., up to ₹40 lakhs for certain eligibility categories). Extended repayment tenures of up to 15 years are available post-moratorium.

Baroda Digital Education Loan
This fully digital loan journey supports applications with minimal physical documentation for eligible students. It provides flexible repayment and moratorium options, especially for loans under ₹7.50 lakh where digital documentation can streamline processing.

Loan Amount & Coverage

Maximum Loan Amounts and Limits
Bank of Baroda offers education loans up to ₹5 crore depending on the course, institution, and collateral availability. Loan limits without collateral typically apply up to lower thresholds (e.g., up to ₹20 lakhs or ₹7.50 lakhs for certain schemes), with larger amounts requiring collateral security.

What Expenses Are Covered
BoB education loans cover tuition fees, hostel and accommodation charges, books and study materials, examination fees, travel costs (especially for overseas education), and other necessary expenses identified in the institution’s schedule of costs.

Interest Rates & Repayment Terms

Current Bank of Baroda Interest Rates (as of late-2025)
Interest rates for Bank of Baroda education loans vary across schemes and borrower profiles. Typical effective rates fall roughly between 8.15% and 11.15% p.a. for most loan categories, with premier institution loans starting from around 8.15% p.a. Female students often receive a concession of 0.20–0.50% on applicable rates.

Repayment Options and Tenure
Repayment tenures can extend up to 15 years after the moratorium period. During the course and grace period, only simple interest may accrue, with EMIs commencing after the moratorium.

Moratorium and EMI Details
The moratorium period typically includes the full course duration plus an additional 12 months. EMIs are calculated on a reducing balance basis once the moratorium ends.

Eligibility Criteria

Student Eligibility Requirements
Applicants must be Indian citizens with admission to a recognised full-time undergraduate, postgraduate, or professional course in India or overseas.

Co-applicant Requirements
A co-applicant such as a parent or guardian with a stable financial profile is usually required.

Course Types and Countries Covered
Loan coverage extends to technical, professional, management, medical, STEM, and postgraduate courses in India and abroad.

Frequently Asked Questions (FAQ)

What Is the Maximum Loan Bank of Baroda Provides?
BoB education loans can be sanctioned up to ₹5 crore depending on collateral availability and eligibility.

How Long Does Bank of Baroda Loan Processing Take?
Processing timelines are typically 15–30 days from submission of complete documentation.

Can I Get a Loan Without Collateral?
Yes. Smaller education loans may be collateral-free with co-applicant guarantee.

How Is the Loan Disbursed?
Disbursal is made directly to the institution in instalments aligned to fee schedules.

Tools & Resources
BoB offers an online Education Loan EMI Calculator for estimating monthly repayments.