BOB Education Loan: Fund Your Studies Abroad with Ease
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| Interest Rate | Grace Period | Margin Money |
| Starting from 9.20% | Course Period + 1 Year | 10% |
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 Education Loans in BOB
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:
- Baroda Digital Education Loan
- Baroda Vidya
- Baroda Gyan
- Baroda Scholar
- Baroda Education Loan to Students of Premier Institutions
- Skill Loan Scheme
- Vidya Lakshmi Portal
- Government of India Interest Subsidy Schemes for Education Loan
- Baroda Education Loan for EDP being offered by Premier Institutions in India
- Baroda Education Loans for EDP being offered by Premier Institutions Abroad
- Higher Education and Skill Development Guarantee Scheme for Pursuing Higher Education in Delhi
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:
| Particulars | Details |
| Loan Amount |
|
| Repayment | 10 – 15 Years |
| Processing Fee |
|
| Security |
|
| Eligible Courses |
|
BOB 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:
| Conditions | Repo Rate + Spread | Effective Rate of Interest |
| Floating Rate | ||
| Premier Institutions | BRLLR + 0.55% | 9.20% |
| Non-Premier Institutions | BRLLR + 1.05% – 2.55% | 9.70% – 11.20% |
| Fixed Rate | ||
| Premier Institutions | BRLLR + 2.0% – 2.55% | 11.20% – 11.40% |
| Non-Premier Institutions | BRLLR + 2.0% – 4.55% | 11.20% – 13.20% |
Note: For non-premier institutions, a girl child gets a concession of 0.20%.
Documents Required for 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)
Frequently Asked Questions
How can I apply for a BOB abroad education loan?
You can go to the official website of BOB or visit your nearest bank branch to apply. However, to save you the hassle, you can connect with Nomad Credit’s expert, who will navigate you through the loan application process.
Can I get a 100% loan to study abroad with BOB?
Bank of Baroda (BOB) offers 100% education loans to study abroad for top institutions specified in the list of premier institutions (for that year).
What are the eligibility criteria for students to apply for study abroad with BOB?
Students must be of Indian nationality. The student must have secured international admission to professional or technical courses via any entrance test or merit-based selection.
What is the maximum loan amount to study abroad with BOB?
You can avail of a maximum of INR 150 lakhs for premier institutions and INR 60 lakhs for non-premier institutions with a BOB education loan for study abroad.
Is a co-signer required for a BOB education loan without collateral?
While no collateral is required, there is a chance that you may still need a co-signer. Your co-signer could be your parent or guardian, who will take responsibility for the loan if you cannot repay the loan.
Mansi Jain
Updated on July 31, 2025
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