Overseas education loan are becoming a popular option among young individuals who are willing to sponsor their own higher education. Many Indian students opt for study abroad education loan simply because they do not wish to add an additional pressure over their parents. While the cost of an education loan is higher due to the higher rate of interest, it is still a good consideration. The rate of inflation in India for higher education has already been pegged at a magnanimous 10% until the mid of 2020. There is norespite from the din when it comes to financial aid. It is best thus, to consider all your options and choose the bank with maximum advantages and more comparatively better rate of interest.
Bank of Baroda Education loan
The initiative for overseas education loan by Bank of Baroda is called Baroda Scholar Loan. It enables students in studying abroad and relishing their dream careers. The Baroda Scholar Loan is a study abroad education loan for both technical, as well as professional courses. The maximum loan amount offered is Rs.60 lakhs, which goes for A-listed universities. The students must check Bank of Baroda education loan annexure for knowing the universities or colleges listed. Overseas education loan by Bank of Baroda is available for a maximum amount of Rs. 40 lakhs for B-listed universities and colleges. The bank makes it mandatory to pledge collateral security for any loan amount that goes beyond Rs. 7.5 lakhs.
Bank of Baroda has had a special partnership with Eduloans wherein we have got digitally integrated wherein the documents are directly sent to the dedicated loan officer. We at Edu loans have helped reduce the turnaround time for Bank of Baroda Education loan by over40%.
Bank of Baroda Education loan- details through chat
Name of the Bank Maximum Loan Amount Interest Rate Period of Loan Loan Eligibility
Bank Of Baroda Rs.60.00 lacs 9.70-11.20% Course period + 1 year or 6 months after getting a job 1. Must be an Indian national. 2. Must have an unconditional offer letter from the university.
Overseas education loan doesn’t come cheap
While Bank of Baroda education loan may bea good choice, you must understand that no study abroad education loan is cheap. The aggregate NPA on these types of loan is a whopping 9.5-10%, which is why, the banks charge higherrate of interest for overseas education loans than any other kinds of loans.
Eduloanscan help you with Bank of Baroda education loan
Overseas education loan experts at Eduloanscan guide you with the latest information regarding Bank of Baroda education loan for study abroad or any other kind of education loan that you are looking forstudy abroad. We have access to all the regional heads of Bank of Baroda as well as the credit team to understand and expedite your loan process. We at Edu-loans are adept to understand the do-ability of the case at Bank of Baroda which would add a lot of stress-free experience to the Bank of Baroda process. Please register with us to make EDULOANs your one-stop Overseas education loan portal.