BOB Education Loan: Fund Your Studies Abroad with Ease

Education loans for studying abroad have several advantages. Access to quality education and higher earning potential due to graduating from a top university are some of the top benefits of an education loan. BOB, aka Bank of Baroda, is India’s second-largest public sector bank after SBI. BOB offers several education loans for students to finance their dream education.

Apply for an Abroad Education Loan!

Types of Bank of Baroda Overseas Education Loan

BOB (Bank of Baroda) offers several education loans to meet the needs of students planning to study internationally and in India. The several types of education loans in BOB bank are:

Which BOB Loan Applies to Studying Abroad?

For most Indian students planning to pursue a postgraduate degree at an international university, the Baroda Scholar Loan Scheme is the most relevant Bank of Baroda education loan product. It covers both premier and non-premier foreign institutions, offers loan amounts up to ₹150 Lakhs, and supports STEM, MBA, medical, and other professional courses abroad.

Other BOB education loan schemes such as Baroda Vidya and Baroda Gyan are primarily designed for domestic higher education within India. Similarly, the Baroda Digital Education Loan may follow a different eligibility and interest rate structure depending on the course and institution type. Students planning to study abroad should carefully verify the applicable scheme before applying to avoid choosing the wrong loan product.

Baroda Scholar Loan Scheme

BOB offers the Baroda Scholar loan scheme for MBA, MCA, MS, and other approved courses. There is no processing charge up to INR 7.50 lakhs and no documentation charges. The loan scheme also offers a free debit card. The details are as follows:

‘BRLLR (Bank of Baroda Repo Linked Lending Rate) is BOB’s benchmark rate directly linked to the RBI’s repo rate. When the RBI changes the repo rate, BRLLR changes within 3 months, and your interest rate adjusts accordingly. The spread (e.g., +0.55% for premier institutions) is fixed for the life of your loan; only the BRLLR component changes. Your current effective rate = current BRLLR + your fixed spread. As of May 2025, the effective starting rate for premier institutions is 9.20%.’

Get Free Expert Advice

BOB Study Abroad Education Loan Interest Rate

If you are taking a loan from any bank, checking your interest rate is one of the biggest factors. BOB has competitive interest rates for its students. Given below is the BOB education loan interest rate under the Baroda Scholar loan scheme:

Interest Rate Disclaimer: Interest rates are based on BOB’s current BRLLR as of May 2025. Rates may change whenever the RBI revises the repo rate. Verify the latest education loan interest rates at bankofbaroda.in/education-loans or with your nearest Bank of Baroda branch before applying

Documents Required for Foreign Education Loan in BOB

Having your documents ready when you apply for a loan saves you time. The required documents can vary based on factors such as your academic background, co-applicants financial history, and more. The documents required for an education loan in BOB are:

• KYC of Applicant and Co-applicants
• Academic Records
• Proof of admission
• Entrance Exam Result (if applicable)
• Statement of cost of study/schedule of expenses
• Income Proof for Salaried Co-applicant/Guarantor (if applicable)
• Bank account statement for last 6 months, etc
• Property Documents (if applicable)

Loan Finder

Find Your Best Loan
Options in Minutes

Explore Offers Now