BOB Education Loan provides students with different types of education loans to fund their abroad education. A BOB Education Loan gives you a lot of breathing space as repayment periods usually range from 10-15 years. Make your life much simpler and easier by getting a Bank of Baroda Education Loan to fulfil your overseas education dreams.
Loan Margin: NIL
Processing Fees: ₹11,800.00

The Bank of Baroda is one of the oldest Indian banks that was established in 1908. BOB offers its retail and corporate customers various domestic and international services. For many years now, the Bank of Baroda’s BOB Education Loan has financed the dreams of thousands of students who wish to study abroad. The BOB Education Loan provides a 0.5% subsidy in interest rates to female students. Also, being a scheduled commercial bank, Bank of Baroda provides various interest subsidy schemes such as Central Scheme of Interest Subsidy (CSIS) for Economically Weaker sections, Dr Ambedkar Central Sector Scheme of Interest Subsidy for abroad studies for Other Backward Classes and Economically Backward classes & Padho Pardesh interest subsidy Scheme for minority communities.

Features Of Bank of Baroda Abroad Education Loan

Sr. NoFeaturesEducation Loan Details
1Loan amountRs.60 lakh - Rs.80 lakh Depends on the university
2Margin moneyNil
3Processing fee₹11,800.00 Rs. 10,030/- required for legal clearance report.
4Processing timeTotal 20-25 working days needed for sanctioning the loan.
5Loan tenure15 Years
6Prepayment chargesNil
7Countries coveredUSA, Canada, UK, France, New Zealand, Australia, Germany and others

Benefits of Bank of Baroda Abroad Education Loan

1. Up to 100% finance. 2. Up to 100% of fees and living expenses covered 3. Off-campus living expenses. 4. Early approval of loan before i20 or visa. 5. Free Debit Card. 6. Tax benefit u/s 80(E). 7. No need to pay interest during the course tenure. 8. 0.50% concession in the interest rates for the girl student. 9. Simple interest during the repayment 10. Holiday/moratorium period. 11. Pre-visa loan approval & disbursal.

Benefits Of Getting Your Bank of Baroda Abroad Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to BOB officials and find the best solution.
Doorstep Pickup Of Documents
For Bank of Baroda Education Loans, we provide doorstep pickup of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, and Chennai. No need to visit the branch!
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 15 days.

Eligibility Criteria For Bank of Baroda Abroad Education Loan

Sr. NoTypeRequirement
1Eligibility Criteria-1. Applicant should be an Indian Citizen. 2. Must have secured admission through the Entrance Exam / Merit Based Screening process for vocational/technical courses abroad.

Documents Required for Bank of Baroda Abroad Education Loan

For BOB Education Loans, UniCreds provides you with a customized documents list that depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. However, at a higher level, the following documents will be needed -

Sr. NoTypeDocuments Required
1List of Documents for Education Loan-1. Application form duly filled & Signed by All i.e Borrower & Co-borrower/Guarantor. 2. Log on to google on www.vidyalakshmi.co.in , In to “Vidya Laxmi “ (Gov) portal please fill form online ,then apply in BOB for loan ,then Go to Application status, Click on Application ID ,download filled form and provide copy of same 3. Form No-135 should be duly filled & Signed individually by all Borrower & Co-borrower/Guarantor 4. Latest Two Passport size of Borrower & one of each Co-borrower/Guarantor 5. Identity Proof such as PAN Card, Aadhar Card of Borrower & Co-borrower /Guarantor & Passport/Visa in case of abroad Study 6. Address Proof such as Phone bill/Light bill of Borrower/Co-borrower/Guarantor 7. LIC/NSC/FDR/KVP Xerox copy of Certificate of Borrower/Co-borrower/Guarantor. 8. Last six Months Bank statement of all Borrower & Co-borrower/Guarantor. 9. Last two years ITR with computation of income of Borrower & Co-borrower/Guarantor & Below Doc as applicable (freelancer to submit 26AS as well with ITR) 10. In case of Pvt limited co, MOA will be needed and for partnership firm, partnership deed will be needed 11. Offer letter along with Fee Structure & Living Cost Component for complete course year wise 12. Exam appeared (CAT ,MAT, XAT ,GRE, GMAT, TOEFL, IELTS, SAT, NEET etc.) & I20 for USA only (in case i20 not given then provide Course start and End date with course duration from authentic Source or via mail from institute & I20 replacement form signed by all {available in BOB Branch} ),In case competitive exam is exempted by institute or direct admission granted , institute via mail will have to confirm same over mode of selection 13. Fee receipt if paid in advance and if want reimbursement as per eligibility then undertaking of same before sanction 14. Complete Mark Sheet (all semester) of 10th, 12th, Graduation, Post-Graduation, etc. with certificate, If in final year , then provide undertaking of same with tentative last date of exam and date of receiving mark sheet 15. Margin money proof to be paid by borrower as per norms 16. In case of prior work experience of applicant, relieving letter of all previous employers , in case currently working then undertaking of tentative resignation date or soft copy of resignation letter if already resigned 17. In case of any previous loan related issue NOC & clarification from Borrower/Co borrower 18. If Study Gap/Backlog/ATKT in previous Education, provide in brief reason & justification of same 19. All original documents for verification while submitting complete doc for processing
2Additional Doc for Secured Loan Only -1. All Chain of document of property from beginning and all chain should be fully registered (specially of last 30 year search chain which include flat conveyance ,POA, Development agreement) and All those listed as owner in property will serve as co borrowers in loan 2. Occupancy Certificate (mandatory), Share Certificate, Latest Property tax is must , In case of Mahada Property NOC from Mahada/Society Must before sanction 3. One cheque of 10030/- per property for legal & valuation charges (Mandatory for India & abroad when property being mortgaged ,This is non-refundable Cheque) 4. Security deposit amount of 11800/- (only for abroad, refundable only after 1st disbursement ) Both Cheque to be in favor of “Bank of Baroda” 5. If mortgaged property is rented then provide rent agreement and NOC from Tenant
3For Businessman applicant/Co applicant-1-Last 2 Year Business Proof in case license is new 2- Business license/GST Reg Certificate 3-6 months current ac statement

How To Apply For Bank of Baroda Abroad Education Loan?

Apply online and upload all your documents. Wait for your application to be processed. Once your application and documents are verified, your Bank Of Baroda Education Loan will get approved. Get your loan sanctioned and wait for disbursal of funds!

Frequently Asked Questions

What is the maximum amount I can get overseas studies?
The maximum loan amount one can get from a Bank Of Baroda Education Loan for studying overseas is up to INR 1 crore.