Scribd
Upload
42 views2 pages

BARB0003_scheme_faq_file

Uploaded by

kumarmandeep04
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
42 views2 pages

BARB0003_scheme_faq_file

Uploaded by

kumarmandeep04
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Baroda Education Loan to students of Premier Institutions Frequently asked Questions (FAQs)

Q. What is the objective of Baroda Education Loan to students of Premier Institutions?

Ans: The objective of “Baroda Education Loan to students of Premier Institutions is to provide
financial assistance to the Students pursuing course in specified Premier Institute in India.

Q. What is the minimum age for getting Education Loan under the scheme?

Ans: There is no specific restriction with regard to the age of the student to be eligible for education
loan.

Q. What are the courses covered for Education Loan under the scheme?

Ans: Full time regular Courses conducted by the Premier Educational Institutions.

Q. What are the expenses considered for Education Loan under the scheme?

Ans: Fee payable to college/Institution/University/school/hostel, Examination / Library / Laboratory


fee, Hostel fees / charges, Purchase of books / equipment’s / instruments / uniforms, Caution
deposit, Building fund / refundable deposit supported by institution bills/ receipts, subject to
condition that the amount does not exceed 10% of the total tuition fees for the entire course,
Purchase of Personal Computer / Laptop - essential for completion of the course, Insurance premium
for student borrower, Any other expenses required to complete the course – like study tours, project
works, thesis, etc.

Q. What is the Maximum Loan Amount and Security norms under Education Loan under this
scheme?

Ans:

Category Maximum Loan Limit

No security With tangible 100% collateral security


of full value of the Loan amount

Institutions– under List AA ₹ 40.00 Lakh ₹ 80.00 Lakh

Institutions– under List A ₹ 30.00 Lakh ₹ 80.00 Lakh

Institutions under List-B ₹ 15.00Lakh ₹ 80.00 Lakh

Institutions under List-C ₹ 10.00Lakh ₹ 80.00 Lakh

Q. What are the margin norms for Education Loan Schemes under the scheme?
Ans:

Loan Amount Margin


Upto Rs4.00 Lakh NIL
Above Rs.4.00 Lakh upto Rs.7.50 lakh 5.00%
Above Rs.7.50 lakh NIL
Q. Are there any processing charges one has to pay for availing Education loan under the scheme?

NIL for all cases. A non-refundable Lump sum amount ₹ 7, 500/- per property (towards Advocate
and Valuer charges) to be taken upfront in case of all Education Loan accounts, wherever property is
mortgaged.

Q. Is there penalty for pre-payment of loan?

Ans: No prepayment penalty is levied.

Q. What are the documents required for Education Loan under the scheme?

Ans: • Application Form duly filled and signed by applicant/guarantor along with details of
applicant/guarantor, family,

• Two Passport Size Photograph of student/applicant/guarantor,

• Photocopy of Pan Card of the student (to be submitted at the time of application or during the
course period),

• Personal Identification Proof (Any one): Electoral I-Card, Passport, Driving License, PAN Card,
Aadhar Card)

• Residential address Proof (Any one): Electricity Bill, Telephone Bill (Land Line), Electoral/Voters ID
Card, Passport)

• Admission Letter, Course Details/ Prospectus • Fee Details- Demand of Fee by the Institution •
Proof of Past academic record - (Mark lists/ Certificates)

• Income certificate from competent Authority for availing interest subsidy under Central Interest
Subsidy Scheme of Education Loans, if eligible.

• Property/other security documents wherever applicable/stipulated.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy