Bank of Baroda Education Loan for Abroad Studies
Talk to Expert
Students can apply for the Bank of Baroda education loan through the bank’s official website, by visiting the nearest branch, or via the Vidya Lakshmi Portal. Bank of Baroda is India’s second-largest public sector bank, which offers student loans with interest rates starting at 7.90% to support students studying in India and abroad.
Bank of Baroda offers a range of education loans with competitive interest rates starting from 7.90%. This helps students to finance their dream to study abroad or in India. Due to the expensive cost of higher education, most students drop their plans. Here, the BoB education loan serves as a reliable solution to bridge this financial gap. As India’s second-largest public sector bank, Bank of Baroda is registered with the Vidya Lakshmi Portal to make the education loan application process smooth.
Apart from attractive interest rates, flexible repayment options, and special concessions for applicants, BoB education loans offer several other benefits that make financing higher education more accessible. In this article, we will cover entire information related to the Bank of Baroda education loan for abroad studies, including eligibility, how to apply and more.
Predict your IELTS, TOEFL, and PTE in just 4 steps!
Related Blogs:
- Steps to Apply for an Education Loan
- How to Repay Education Loan Faster?
- Public Vs. Private Education Loan Providers
Bank of Baroda Education Loan
Bank of Baroda is one of the top education loan providers in India. No matter which country you choose for your studies, you’ll find a suitable student loan option in the diverse range of student loan offerings from the bank. Students can explore government education loan schemes offered by the bank before choosing any. We have listed down different education loan schemes offered by BoB.
Types of BoB Education Loan
Here are the different types of education loan schemes offered by the Bank of Baroda:
| Types of Bank of Baroda Student Loan Schemes |
Maximum Amount |
|---|---|
| Baroda Digital Education Loan |
INR 40.00 Lakh |
| Baroda Scholar (for study abroad) |
For Premier Institutions: INR 1.50 Cr For Non-Premier Institutions: INR 60 Lakhs |
| Baroda Gyan |
For Medical and Aviation: INR 1.25 Cr For Other Courses: INR 25 Lakhs |
| Baroda Executive Development Premier Institutions (For Studies Abroad) |
INR 80 Lakhs |
| Baroda Education Loan to Students of Premier Institutions (For Studies in India) |
Without Collateral: INR 40 Lakhs With Collateral: INR 80 Lakhs |
Related Read: Education Loan Interest Rate
Bank of Baroda Education Loan Interest Rate
The Bank of Baroda education loan interest rate varies based on several factors, including the student's profile, the type of university or college, the study destination, and more. The BoB education loan interest typically ranges from 7.90% to 12.90% for studying abroad or in India. The bank offers student loans on a floating rate of interest and a fixed rate of interest. Both types of ROI (Rate of Interest) have their own pros and cons.
We have mentioned a detailed table below, outlining the student loan interest rates at Bank of Baroda:
| Types of Education Loan at BoB |
University Category |
Effective Rate of Interest (Floating) |
|---|---|---|
| Baroda Education Loan to Students of Premier Institutions (For Studies in India) |
AA |
7.90 % |
| A |
8.20 % |
|
| B |
9.50 % |
|
| C |
9.70 % |
|
| Baroda Scholar (Study Abroad) |
Education loan to Premier Institutions Abroad (Specified in the list of Premier Institutions) |
|
| For Abroad |
9.45% |
|
| For Canada |
9,45% |
|
| Education loan to Non Premier Institutions Abroad (Specified in the list of Premier Institutions) |
||
| Abroad (Upto INR 7.50 Lakh) |
10.90% |
|
| Abroad (More than INR 7.50 Lakh) |
9.95% |
|
| Children of Defence Personal Under Baroda Yodha Education Loan Scheme |
9.95% |
|
| Canada (Upto INR 7.50 Lakh) |
10.90% |
|
| Canada (More than INR 7.50 Lakh) |
11.45% |
|
| Baroda Gyan (Study in India) |
Upto INR 7.50 Lakh |
10.90% |
| More than INR 7.50 Lakh |
10.80% |
|
| Children of Defence Personal Under Baroda Yodha Education Loan Scheme |
10.00% |
|
| Baroda Executive Development Premier Institutions (For Studies abroad) |
Upto INR 7.50 Lakh |
10.90% |
| More than INR 7.50 Lakh |
11.25% |
|
| Children of Defence Personal Under Baroda Yodha Education Loan Scheme |
10.00% |
|
Check out the fixed rate of interest of the Bank of Baroda
| Types of Education Loan at BoB |
University Category |
Effective Rate of Interest (Fixed) |
|---|---|---|
| Baroda Education Loan to Students of Premier Institutions (For Studies in India) |
AA |
9.90 % |
| A |
10.20 % |
|
| University Category "B" |
||
| Upto INR 7.50 Lakh |
11.40% |
|
| More than INR 7.50 Lakh |
11.50% |
|
| University Category "C" |
||
| Upto INR 7.50 Lakh |
11.40% |
|
| More than INR 7.50 Lakh |
11.70% |
|
| Baroda Scholar (Study Abroad) |
Education loan to Premier Institutions Abroad (Specified in the list of Premier Institutions) |
|
| Upto INR 7.50 Lakh |
11.40% |
|
| More than INR 7.50 Lakh |
11.45% |
|
| Education loan to Non Premier Institutions Abroad (Specified in the list of Premier Institutions) |
||
| Abroad (Upto INR 7.50 Lakh) |
11.40% |
|
| Abroad (More than INR 7.50 Lakh) |
11.95% |
|
| Special Rate of Interest for Children of Defense Personal |
||
| Abroad (Upto INR 7.50 Lakh) |
11.40% |
|
| Abroad (More than INR 7.50 Lakh) |
11.95% |
|
| Canada (Upto INR 7.50 Lakh) |
11.40% |
|
| Canada (More than INR 7.50 Lakh) |
13.45% |
|
| Baroda Gyan (Study in India)
|
Upto INR 7.50 Lakh |
11.40% |
| More than INR 7.50 Lakh |
12.80% |
|
| Children of Defence Personal Under Baroda Yodha Education Loan Scheme |
||
| Upto INR 7.50 Lakh |
11.40% |
|
| More than INR 7.50 Lakh |
12.00% |
|
| Baroda Executive Development Premier Institutions (For Studies abroad) |
Upto INR 7.50 Lakh |
11.40% |
| More than INR 7.50 Lakh |
13.25% |
|
| Children of Defence Personal Under Baroda Yodha Education Loan Scheme |
||
| Upto INR 7.50 Lakh |
11.40% |
|
| More than INR 7.50 Lakh |
12.00% |
|
Things to Keep in Mind While Applying for BoB Student Loan
Here, we have mentioned key points to keep in mind while applying for a Bank of Baroda student loan:
- Under Baorda Scholar: Female applicants for a Bank of Baroda student loan receive a 0.20% concession on the rate of interest (ROI) for Non-Premier Institutes. However, no concession for Premier institutes for girl child.
- Under Baroda Gyan: Girl child gets 0.50% concession in ROI.
- For Medical Courses: Medical students who want to study MBBS/BDS/MS/MD/MDS etc. courses in India get a 0.50% concession in Bank of Baroda education loan scheme. This offer is not for Ayurvedic and Homeopathic courses students.
Related Read: Student Loan Eligibility Criteria
BoB Education Loan Eligibility Criteria
Am I eligible for a Bank of Baroda education loan to study abroad? The answer to this question depends on the specific loan scheme you are applying for. Every applicant who wants to borrow a student loan from this bank must meet the eligibility criteria set by BoB. It varies based on factors such as the study destination, course type, institution type, and more. Below, we have highlighted some key eligibility requirements to help you understand the criteria better.
Eligibility for Bank of Baroda Education Loan for Abroad Studies
- Applicant and co-applicant must be Indian citizens.
- For UG courses: Students must enrol in job-oriented professional or technical courses offered by reputed universities.
- For PG Courses: MCA, MBA, MS courses are eligible.
- The university or college must be listed in the official list released by Bank of Baroda.
- Students must secure admission to these courses through an entrance test or a merit-based selection process.
These are just basic eligibility. For scheme-wise detailed eligibility check the official webpage of the bank.
How to Apply for Bank of Baroda Education Loan
There are three ways to apply for BOB education loan: through the bank’s official website, by visiting the nearest branch, or via the Vidya Lakshmi Portal. Below, we have mentioned all three processes, for your better understanding.
Through Bank‘s Website
- Visit the official website of Bank of Baroda.
- Choose the type of education loan.
- Click on the “Apply Now” button. You can find this in far right section of the education loan page.
- Follow the instructions shown there.
By Visiting the Nearest Branch
Visit any nearest branch of the Bank of Baroda. You will get detailed guidance throughout your education loan process.
Via Vidya Lakshmi Portal
- Visit the Vidyalakshmi Portal and create your account by using your personal details (Name, Email ID and Phone number).
- After creating your profile, you can apply for a maximum of three education loan schemes shown on your screen.
- There you need to select any education loan scheme offered by the Bank of Baroda.
- You can check the status of your education loan scheme through this portal.
BOB Education Loan Documents Required
Here, we have mentioned the list of documents required to apply for a Bank of Baroda student loan. The applicant should keep these documents handy while applying for the education loan. They need to submit these documents along with the Education Loan Application Form and the Net Worth form. Check the list of documents below in the table:
| Bank of Baroda Education Loan: List of Documents |
|
|---|---|
| For Students |
For Self Employed Applicant
|
| Co-applicant/Guarantor |
|
That’s all about the topic. We have mentioned the most updated information about the Bank of Baroda education loan for abroad studies. Contact India’s leading education loan providers through Shiksha Study Abroad For more queries. Do write to us in the comments below. Or request a call back from our Shiksha Study Abroad Counselling Services.
Q: Is Hertfordshire University hard to get into?
Q: Does the University of Essex require IELTS?
International students whose native language is not English must meet the University of Essex English language requirements to get admission. The university accepts IELTS scores as proof of English language proficiency. Mentioned below are the IELTS scores required for UG and PG admission at the university:
English Language Test | Score |
|---|---|
IELTS | Overall score of 5.5 to 8.0 with minimum of 5.5 to 7.5 in each section |
The university also accepts the score of other English language tests such as TOEFL and PTE for admission to undergraduate and graduate programs:
English Language Test | Score |
TOEFL iBT | Overall score of 72 to 114 |
PTE | Overall score of 59 to 84 with minimum of 59 to 80 in each section |
Also read: Required IELTS Score for UK Universities
Q: How can I get admission in the University of Manchester?
The application process at the University of Manchester may vary depending on the course and level of study. However, here is the application process for UG and PG courses:
The Undergraduate Application Process:
Step 1: You can apply through the UCAS common application portal.
Step 2: Go to the website and select the course you are interested in.
Step 3: Ensure you meet the Entry requirements (Academic qualifications, English proficiency, etc.
Step 4: Once you decide on the course, submit documents such as SOP, Transcripts and personal statements.
Check out: tips to improve your SOP.
Step 5: You can track the application's progress through your given credentials by UCAS.
Step 6: Once the applicant submits the application to UCAS, it forwards to the University, and the admission teams carefully analyse the application document.
Step 7: The university will send you an offer letter once selected. Hence keep checking your UCAS portal for your application status.
The Postgraduate application process:
Step 1: Select the postgraduate course you are interested in from the University of Manchester.\
Step 2: Ensure you meet the entry requirements for the chosen program, as they vary depending on the course.
Step 3: Complete the online application by providing your personal information.
Step 4: Upload the required documents, such as Academic transcripts and proof of English language proficiency ( TOEFL/ IELTS). experience in your fields and references (depending on the course). You also may require Two LORs depending on the course.
To make your admission better, check out the following: How Admission Officers Evaluate your application.
Step 5: If your application is successful, you will receive an offer from the University of Manchester.
Q: How long does Hertfordshire University take to reply?
After applying to Hertfordshire University UK, the applicants are going to receive an initial decision about their application within 2-3 working days. After the submission of the application and documents, the applicants are required to pay their tuition deposit. Then, complete the Sponsorship interview and the financial declaration. International students are required to pay a deposit of £5,000 before registration. The balance can be paid in line with the liability dates related to the year and entry of the semester.
Q: What are some popular courses at Solent University UK?
Numerous programs in the fields of the arts, fashion and design, law and communication, media arts and technology, sports, health, and social Science are popular at Solent University.
The college has excelled in many areas, including business, language, communication, interior and exterior design, and other key areas. After completing the course, students will find it easier to find employment because the courses are designed with industry research as their basis.
Read more: Solent university courses, fees and popular program
Q: How much IELTS score is required for Hertfordshire University?
International students coming from diverse backgrounds must prove their English language proficiency by submitting the scores of IELTS, PTE, and Duolingo at Hertfordshire University. The university demands an IELTS score of 6 from the students. Along with the IELTS scores, students can refer to the table below for all the required English proficiency score:
English language test | Minimum Score required UG | Minimum Score required PG |
|---|---|---|
6 or above | 6 or above | |
59 or above | 58 or above | |
105 or above | 120 or above |
Q: Is university of West of Scotland good for international students?
The University of the West of Scotland has five modern and diverse campuses in United Kingdom. The University has welcomed more than 3,000 international students which are representing 1/3 of the globe. They also have 130 European partners who are actively in global study and exchange options through the Commonwealth universities programmes. The University also offers study abroad opportunities for UWS who are eligible for the same and also have more than 20 transnational education partners worldwide which helps them deliver UWS Bachelors and Masters Degrees around the world.
Q: What is the ranking of NTU UK in terms of employability?
According to Uni Compare rankings 2024, NTU has been placed at #1 in the UK for employability. In addition to this, as per the details available on the web, some of the top companies where NTU UK alumni work are Deloitte, Microsoft, Tesco, Turner & Townsend, The Access Group, etc. Some of the industries where the alumni work are Operations, Business Development, Arts and Design, Sales, Marketing, IT, Engineering, Finance, Media & Communication, etc.
Raj Vimal has experience of 7+ years in SEO Content Writing, which includes 5+ years in the Ed-Tech industry. He has written articles about studying abroad, especially in the USA, UK, and other English-speaking coun... Read Full Bio
Statement of Purpose
Letter of Recommendation
Student Visa Application
Admission Essay Writing
Student Curriculum Vitae
With a 70% acceptance rate, the University of Hertfordshire is not hard to get into and follows easy selection criteria during admissions. This does not mean the university accepts all the students applying for different programs. The selection is based on academic performance, English language requirements, references, and many more. Some of the programs at Hertfordshire even demand an experience of 4-5 years. Students must fulfill the eligibility criteria to enroll in any programme at Hertfordshire University. In addition, students with average performance can showcase their relevant experience or extracurricular activities participation to increase their selection probability.