Education Loan

About Education Loan

Education Loan

What is a Education Loan?

Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.

Education loan or student loan is a form of monetary assistance availed by students to meet the expenses associated with their studies. The student loan includes expenses related to school fees, post-secondary education or cost associated to higher education.

Education Loan FAQ

Frequently Asked Questions

What is Education Loan?

What are the benefits of taking an education loan?

offers various education loans at attractive interest rates with repayment tenure of up to 15 years. No collateral needs to be provided for education loans of up to Rs. 40.00 lakh for the identified premier institutes. Maximum Education Loan limit is Rs.125.00 lakh for study in India and Rs.150.00 lakh for study abroad.

How does Education Loan work?

Opting for an education loan reduces the strain on existing savings and eliminates the need to liquidate the existing investments. The interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961.

Who can apply for the education loan?

The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad.