Go Back   2023-2024 StudyChaCha > StudyChaCha Discussion Forum > General Topics

Old April 15th, 2016, 01:45 PM
Super Moderator
Join Date: Nov 2011
Default Re: Education Loan Bank of Baroda

Baroda Gyan Scheme is specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India.

Courses Eligible:

-All Graduation courses.
-All Post Graduation courses & Doctorate courses.
-Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
-Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
-Courses like C.A, ICWA, CFA, CS, etc.
-Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
-Regular Degree/ Diploma courses like Aeronautical, pilot training,
-shipping etc., approved by Director General of Civil Aviation/shipping

-Other courses leading to diploma / degree etc. conducted by
-colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc.

-Courses offered in India by reputed foreign Universities.
-Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.

-Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.

Student Eligibility:
-Should be Resident Indian.
-Secured admission to either of above courses
-A meritorious student (who qualifies for a seat under merit quota) will also be eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.
-or courses under Management Quota Seats considered under the scheme, fees as approved by the State Government/ Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
-Additional concession of 1.00% to the students who have sought admission in premier institutions viz. IIMs, IITs, IIFT, AIIMS, AFMC , ISB, NITs, XLRI, MDI, SPJIMR, IISC, SPJIM

Coverage of expenses :
-Fee payable to college / Institution / University.
-Examination / Library / Laboratory Fee.
-Fee and other charges payable to hostel.
-Purchase of books / equipments / instruments.
-Personal Computers / Laptops wherever required.
-Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
-Any other expenses required to complete the course - like study tours, project works, thesis, etc.

Maximum Loan Amount : Rs.10.00 Lacs.

Margin :
-Upto Rs. 4.00 lacs :- NIL
-Above Rs. 4.00 lacs :- 5%

-Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.

Repayment Holiday / Moratorium Period :
-Course period + 1 year or 6 months after getting job, whichever is earlier.

Repayment Period:
-Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs
-Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

-Upto Rs.4 lacs : No security
-Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third
-party guarantee alognwith assignment of future income.
-Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan
-amount along with assignment of future income

Rate of Interest:
-Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
-0.50% Concession in rate of interest to loans for girl student
-Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
Answered By StudyChaCha Member
Reply With Quote

Reply to this Question / Ask Another Question
Your Username: Click here to log in


All times are GMT +6. The time now is 02:46 AM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2023, vBulletin Solutions Inc.
Search Engine Friendly URLs by vBSEO 3.6.0 PL2

1 2 3 4 5 6 7 8