Baroda Gyan

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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.
~ 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 Eligiblity
~ Should be Resident Indian.
~ Secured admission to either of above courses

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
The loan is repayable in 5-7 years after the above period.

Security
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
Loans upto Rs.4.00 lacs – 2.00% above Base Rate i.e. 11.00%.
Loans above Rs.4.00 lacs – 4.00% above Base Rate i.e. 13.00%.
Loans above Rs.4.00 lacs for ISB, Hyderabad Students – 2.00% above Base Rate i.e. 11.00%.
~ Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
~ 1% interest concession is provided if interest debited during repayment holiday is serviced.
~ 1% 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.

For loans above 4 lacs, interest rate will be 2 % above base rate for ISB, Hyderabad Students which is 2 % less than that for students of other institutes

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