Baroda Vidya
These loans are available for studies from Nursery to Senior Secondary School. Its a one of its kind finance option for parents of students pursuing school education. It is an initiative for parents to encourage elementary education for the children who do not have the luxury of good education. This becomes even more relevent after the “Right to education” to every citizen.

Benefits for Baroda Vaidya
~~ No processing & documentation charges.
~~ No Margin.
~~ No security required.

Eligibility
~~ Should be an Indian national residing in India.
~~ The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.
~~ Student should have secured admission to a recognized school / Highschool / Jr. College (including CBSE / ICSE / State Board) for any of the following courses :-
Stage I : Nursery to V th STD.
Stage II : VI th to VIII STD.
Stage III : IX th to XII th STD.

Coverage of expenses for :
~~ Fee payable to college / school.
~~ Examination / Library / Laboratory Fee.
~~ Fee and other charges payable to hostel.
~~ Purchase of books / equipments / instruments / uniforms.
~~ Personal Computers / Laptops wherever required.
~~ Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
~~ Maximum Loan Amount : Rs.4.00 Lacs

Repayment Period
Loan for each yearly sub limit is repayable in 12 equal monthly instalments. First instalment to be due 12 months after first disbursement of each year’s loan component.

Rate of Interest
~~ 2.00% above Base Rate i.e. 11.00%.
~~ 1% concession in rate of interest to loans for girl students i.e. 10%.
~~ Interest to be serviced as and when applied during moratorium period.
~~ Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.

Tags: bank of baroda primary education loan, bank of baroda secondary education loan, Bank of Baroda vidya Processing Fees