BANK OF BARODA
Revised Education Loan Scheme
 ELIGIBILITY:All students who are not gainfully employed and have secured admission to,any of the recognize courses in recognize universities/colleges/institution's approval by the state/Central Government job oriented Courses.Certificate course recognized by Government/ Universities.Any foreign University's recognized courses.

Eligible Courses:

(a). All courses recognized by state/ central Government are covered, like:

Diploma/ Certificate.

Graduate / Post Graduate.

Management Courses approved by All India Council for Technical Education.(AICTE).

Other specialized Courses like C.A/ ICWA/Ph.D,etc.Computer education courses recognized by Department of Electronics.

(b).Studies Abroad:

Graduate/Post Graduate /Ph.D.

Management / Computer Education.

Other specified courses approved by the University abroad.
Amount of loan

(a).In India:

A.Technical/ Certificate Courses upto Rs.50,000/-

B. Graduation (except following)upto Rs.75,000

Graduation/Post Graduation in:

COURSE
FREE SEAT
PAYMENTS SEAT
(i) Medicine
Upto Rs.2.25 lakes
Upto Rs.5.50 lakes
(ii)Dental
1.80
3.75
(iii) Ayurved
1.25
4.50
(iv)Homeopath
1.75
3.00
(v)Physiotherapy
1.50
2.00
(vi)Pharmacy
1.25
2.00
(vii)Engineering / Technology
1.75
2.75
(viii)Architecture
2.00
3.50

Diploma in Engineering Course : Up to Rs.1.50 lakh

Management /Computer Course :Up to Rs.1.50laks

(b). Study Abroad:

(i)Graduation & Other Courses upto -3- years duration : Rs.10 lakh

(ii) Post Graduation & Other advance study : Rs.15 lakh

Age

(i) For Diploma / Certificate / Graduate / Post Graduate Courses upto .....28 years, and

(ii) For other specialized Courses like Manager / Compute education / C.A / C.S / Ph.D etc... upto 30 years.

(iii) Relaxable in case of student belonging to SC / ST upto 2 years.For others, relaxation in at the level of zonal managers / General Managers.

Coverage:

The loan assistance means to cover ;

(i) Admissions / Tuition fees.

(ii) Hostel / mess charges.

(iii) Examination fees.

(iv) Cost of books, stationery, equipment, instruments,etc.

The Purposes Mentioned above should form essential part of the curriculum to be eligible for finance. For studies abroad one way air ticket i.e. passage money,etc.may also be considered.

Margin:

a) In India :

for limits upto Rs.25,000/-...........................................nil

for limits above Rs. 25,000/- and upto Rs.1 lakh .........10%

above Rs.1 lac............................................................ 15%

b) For studies abroad....................................................20%
Interest:

The rate of interest will be as per RBI guidelines from time to time, the present interest rate structure is as under :

(i) Limit upto an inclusive of Rs.25,000/-............................11.75% + Int.Tax

(ii) Over Rs. 25000/- and upto Rs.2 lacs...............12% + Int.Tax.

(iii) Over Rs. 2 lacs and upto Rs.5.5 lacs ............11.25% Int. Tax

(iv) Over Rs.5.5 lacs PLR + 12.75 %

(V) Students satisfying DRI eligibility, criteria - for loans upto Rs.6,500/-..........4%
Repayment: In monthly installment, to commenceing - 6 - months of after the completion of course , or - 1 - month after securing job, whichever is earlier ; but within the overall period of - 60 - months reckoned from the date of completion of course. Students learing the course in complete or not successful, to repay within - 60 - months from dis continuation of course or declared unsuccessful as the case may be.
Security:

(i). Demand Pro - note.

(ii)a) For loans upto Rs.25,000/- parents / guardian guarantee will be scefficient.

b) For loans above Rs.25,000/- third party guarantee of a person acceptable to Bank with adequate means in addition to the guarantee of parent / guardian to be obtained.

(iii) In respect of loans above Rs.50,000 /- tangible security such as FDR / NSC / UNITS/ SHARES / DEBENTURES Equitable . MORTGAGE / surrender value of LIC Policy etc. to be taken in addition to guarantee from parent / guardian.

Students who have attended the age of majority may be granted loans in their own names or jointly with their parents / guardians of the minor.