How to apply for Baroda Gyan Loan ? Best Education Loan

How to apply for Baroda Gyan Loan | Best Education Loan | BOB Education Loan | Higher Education Loan | બરોડા જ્ઞાન લોન

Education is the most important thing for a bright future. But with rising inflation, many times people cannot afford this cost. And that is why various banks offer education loans to people.

Today, apart from banks, many financial firms (Banks & financial firms) also provide education loans. But most of the time opting for the bank itself is a wise move. So let’s know how you can get education loan (Apply for Education Loan) from Bank of Baroda under Baroda Gyan Loan. How to apply for Baroda Gyan Loan

How to apply for Baroda Gyan Loan

How to apply for Baroda Gyan Loan

Online Application: Today, technology has advanced so much that one can do everything at the fingertips of his phone. Banks have also reached your home through this online medium. Then the easiest way is to apply for education loan online. Because it saves you from the hassle and time wastage of bank rushes.

You can also apply online in two ways. The first way is that you can directly fill the application form for the loan and submit it by attaching the required documents. Today, almost every bank, from private to government, has its own website and mobile application. Through which you can get every banking service including loan at home. How to apply for Baroda Gyan Loan

Whereas in the second method you apply by providing all the details and the lending bank/firm will contact you and discuss with you all the details and conditions of the loan. You can send your details through bank/financial firm email address or other means.

Offline Application : By Visiting the Branch – You can visit the bank or finance firm from which you want to take a loan and get the terms and details of the education loan. After that you can get the loan by filling the application form for the loan and submitting the required documents. How to apply for Baroda Gyan Loan

Calling the lender – You can call any lender to discuss the details of the loan and tell whether you are willing to apply for the loan.

Virtual Assistant : Banks and other financial institutions are now adopting digital methods to serve their customers better. In which virtual assistants are being used to clear your doubts and queries and assist in the loan application process. How to apply for Baroda Gyan Loan

Highlights of How to apply for Baroda Gyan Loan

Name of ArticleHow to apply for Baroda Gyan Loan
Article sub-informationInformation about Baroda Gyan Loan
Language of ArticleGujarati and English
Purpose of the articlePurpose of providing BOB Gyan Loan information
Official WebsiteClick Here

Baroda Gyan Loan

Bank of Baroda provides many types of loan facilities to its customers. It also provides educational loans. Here we will know in detail about Baroda Gyan Loan.

Baroda Gyan Loan : Benefits

Loans are given to Indian citizens or parents of a student residing in India for schooling in a recognized institution. This loan covers other expenses like books required for education and purchase of computer/laptop. Baroda Retail Gold Loan offers the following benefits:

  • No processing charges up to Rs.7.50 lakhs.
  • There is no margin on loans up to 4 lakhs.
  • Free debit card.
  • No documentation charges.
  • Minimal paperwork and fast processing.

Baroda Gyan Loan – વિશેષતાઓ

Baroda Gyan Loan has the following features:

  • Loans for Higher Studies in India (Students pursuing Graduate, Post Graduate, Professional and other courses in India.)
  • No processing charges up to Rs.7.50 lakh
  • No documentation charges
  • No margin on loans up to 4 lakhs.

Baroda Gyan Loan – Eligibility

Courses Eligible

  • Graduate Courses: BA, BCom, BSc, etc.
  • Post-Graduation Courses: Masters and Ph.D.
  • Professional courses like: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Architecture, Computer etc.
  • Management courses include hotel management, hospitality management, event management, mass communication etc. Which are offered by reputed institutes. In which the possibility of employment is guaranteed.
  • Department of Electronics or Computer Certificate courses from recognized institutes affiliated to a recognized university.
  • Courses like ICWA, CA, CFA.
  • Courses conducted by IIM, IIT, IISc, XLRI, NIFT.
  • Degree/Diploma courses like Aeronautical, Pilot Training, Shipping etc., approved by the Director General of Civil Aviation/Shipping.
  • Courses offered in India by reputed universities abroad.
  • Evening courses of approved institutes.
  • Other courses leading to Diploma/Degree, Certificate etc. conducted by colleges/universities recognized by UGC/Government/AICTE/AIBMS/ICMR.
  • Will be eligible for Teacher Training Course/Nursing Course/B.Ed Education Loan. Provided that the training institutes are approved by the Central Government or the State Government. and such courses lead to degree or diploma courses and not to certificate courses. The branches may consider the request for education loan under Baroda Gyan Yojana for the above courses. The fee to be considered for the purpose, should be the fee structure approved by the State Government or a Government recognized regulatory body for merit seats in Government Colleges/Private Self Financing Colleges, Cooperatives and Colleges run by Universities. How to apply for Baroda Gyan Loan
  • Baroda Corporate Center may approve other institutes/courses based on recognition by future prospects/user organizations.

Student Eligible

  • Indian National Student.
  • Non-Resident Indian (NRl), Person of Indian Origin (PlO) / Overseas Citizen of India (OCl) and students born there to Indian parents during stay abroad (foreign citizenship by birth, when parents were on deputation with foreign government/ Government Agencies or International/Regional Agencies etc. and now studying in India after repatriation of their parents) and should get confirmed admission for higher education course in India only. How to apply for Baroda Gyan Loan

Baroda Gyan Loan : Interest rates

ProductConditionsEffective Rate of Interest
Baroda Gyan LoanUp to Rs.4.00 Lakh10.50%

Above Rs.4.00 Lakh up to 7.50 Lakh
10.50%
Above Rs 7.50 lakh10.75%

Baroda Gyan Loan : Interest rates

  • A special relaxation of ROI @ 0.50% is available for women students.
  • Simple interest charged monthly during repayment holiday/moratorium period
  • Penal interest @ 2% p.a. On the overdue amount, if the loan amount is Rs. 4 lakhs. How to apply for Baroda Gyan Loan
  • Interest accrued during the repayment holiday period will be added to the principal and repayment will be fixed in equal monthly installments (EMI).

Baroda Gyan Loan : Charges

VLP ChargeRs.100/- for all cases
Up to Rs 7.50 lakhNil
Above Rs.7.50 Lakh1.00% of Loan amount maximum Rs. 10,000/-

Baroda Gyan Loan : Documents Required

  • KYC of applicant and co-applicant
  • Academic records
  • Proof of admission
  • Entrance Test Result (if applicable)
  • Statement of Cost of Study/Schedule of Cost
  • Income proof for salaried co-applicant/ guarantor (if applicable).
  • Last 6 months bank account statement etc
  • Property documents (if applicable)
  • Any other document requested by the bank must also be submitted. How to apply for Baroda Gyan Loan

How to Apply for Bank of Baroda Education Loan

Below is the step-by-step process to apply for Baroda Gyan Education Loan:

  • Step:1 Visit the official website of Bank of Baroda.
  • Step: 2 Click on ‘Education Loan’. This option will appear in the ‘Loans’ tab.
  • Step:3 Click on ‘Apply Now’ on the next page.
  • step:4 You can also go to this link- https://www.vidyalakshmi.co.in/Students/.
  • Step:5 Click on ‘Apply Now’.
  • Step: 6 After completing the registration process by clicking on Next, click on the submit button. How to apply for Baroda Gyan Loan
  • step:7 Bank of Baroda representative will contact you to process the request.
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