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BOB Education Loan


Interest Rate

Starting from 9.7%

Processing Fees

₹10,000 + GST (Refundable)

Margin Money


How it Works


Simple FIVE step digital process to get a education loan

Check Your Loan Eligibility

Use our free tool to verify your eligibility and receive conditional loan offers.


Talk To Our Loan Experts

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Upload Documents and Fill Out the Form

Submit your documents or complete the necessary forms for bank verification and evaluation.


Negotiate For Your Best Loan Offer

GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.


Get Loan Approval and Disbursement

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BOB Bank Education Loan for Abroad Studies


All you need to know about BOB bank education loan for studying abroad

Anam Shams
Anam Shams

Reviewed By:   Aman


Bank of Baroda (BOB) established on July 20, 1908, is an Indian state-owned banking and financial services organization, headquartered in Vadodara (earlier known as Baroda), in Gujarat, India. Under the ‘Alternative Mechanism’ scheme, the Government announced the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda which came into effect on April 1, 2019. Several education loan schemes are offered by the Bank of Baroda which includes Baroda Vidya, Baroda Gyan, Baroda Digital Education Loan, Baroda Scholar, and many more. The main focus here on this page is given to Baroda Scholar as this is the scheme that enables Indian students to financially back their abroad education and turn their dream into reality.

Bank Of Baroda Education Loan Features

This table provides essential details about BOB education loan, covering loan amounts, interest rates, fees, and other loan terms.

Feature Description

Loan amount

7.5 Lakh INR - 1.5 Cr INR

Rate of interest

9.70% - 11.15% (Floating)

(0.20% concession for female applicants of non-premier institutes)

Processing fee

INR 10,000 + GST (Refundable)

Margin money

0 - 15%

Property evaluation charges

8,500 INR

Moratorium period

Course duration + 12 months

Repayment tenure

10 - 15 years

Bank of Baroda Education Loan: Eligibility Criteria

  • list items The student should be an Indian citizen with a minimum age of 18 years. 
  • list items The student should have secured admission to a recognized university for a professional or technical course through a merit/entrance-based selection process. 
  • list items To get better loan terms your institution should be on the list developed by Bank of Baroda. You can find the list of these premier institutes here.
  • list items The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.
  • Required Documents for Bank of Baroda Education Loan

    The documentation needed for a BOB education loan for overseas studies varies based on several factors, primarily your academic and professional background, your co-applicant's financial and credit history, and the location of the property or asset that you use as collateral.

    Applicants' documents

    1. Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.

    2. Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.

    3. Passport Mandatory (in case of study abroad).

    4, Past academic record.

    10th standard mark sheet

    12th standard mark sheet

    Undergraduate result (semester-wise)

    5. Entrance Exam Result (e.g. GMAT, GRE, TOEFL, etc. for abroad study)

    6. Entrance Exam Result (e.g. CAT, CMAT, JEE, NEET, CET, GMAT, GRE, etc. for domestic institutes)

    7. Proof of admission: admission letter (A conditional admission letter is also applicable).

    8. Statement of cost/expenses.

    9. 2 passport-size photographs.

    10. Loan A/C statement of one year, if there is any previous loan from other Banks/ Lenders.

    Co-applicant’s documents

    1. Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.

    2. Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.

    3. 2 passport-size photographs.

    4. If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.

    5. Legal documents of the collateral/ property documents.

    6. Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

    Income proof for salaried co-applicant/guarantor

    1. Salary slips for the last 3 months

    2. Copy of Form 16 of the last 2 years or copy

    3. Bank account statement for the last 6 months (Salary account)

    4. Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

    Income proof for self-employed co-applicant/ guarantor

    1. Business address proof

    2. Last 2 years IT returns (If IT Payee)

    3. TDS certificate (Form 16A, if applicable)

    4. Certificate of qualification (for C.A./ doctor and other professionals)

    5. Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

    6. Bank account statement for the last 6 months

    How to apply for education loan in Bank of Baroda Via GyanDhan?

    If you are seeking to obtain an abroad education loan from BOB, you have the option to apply on their website. However, for a seamless application process, you can opt to apply for your education loan through GyanDhan.

    GyanDhan is an online platform created to aid Indian students in funding their overseas education. To initiate the process with us, all you need to do is assess your loan eligibility, and we will take care of the rest!

    Getting your BOB education loan through GyanDhan

    Guaranteed best loan

    GyanDhan is committed to providing you with the most competitive education loan available in the market. We strive to bring you the best possible deal. If you happen to come across a better offer, we will cover the difference in interest rates for the entire duration of your education loan.

    100% Free of cost services

    GyanDhan provides completely free services to applicants. You won't incur any charges from us throughout the application process for a BOB international education loan.

    Low turnaround time

    When you submit an education loan application to BOB through GyanDhan, our team collaborates with different departments within BOB to expedite the loan approval process, typically completing it within 15-20 days. This is the reason why thousands of students rely on us for their loan applications annually. If a student applies directly to the bank, the typical loan processing time at BOB is approximately 30-45 days.

    Higher chances of approval

    If there are any documents that are missing, property-related concerns, or other issues, we promptly liaise with BOB officials to seek solutions. This guarantees swift issue resolution and considerably enhances your chances of securing approval for a BOB education loan. If you encounter any obstacles, GyanDhan will consistently provide support and assistance.

    Bottlenecks in BOB Education Loan

    Below, we describe typical bottlenecks that you should watch out for while getting answer to your question how to apply education loan in Bank of Baroda, along with ways in which we work around such bottlenecks to fast-track your education loan application.

    Procedural delay

    Generally, you apply to a particular branch of Bank of Baroda. Interestingly, most branches do not take a decision on your education loan application. The branch merely collates all documents and a few days later, transfers your applications to a specialized back-end office, called Specialized Mortgage Store (SMS), which actually evaluates the loan application. Those who apply via GyanDhan get to skip the branch stage, thus saving them several days. We directly transfer your application to the relevant SMS electronically.

    For the loan to be sanctioned, the property of the applicant and its supporting legal papers are verified by Bank of Baroda empanelled advocates. However, The Turnaround Time (TAT) of the bank and the advocates is high, that is, the officials involved tend to delay the verification process when they come across discrepancies in the property or related documents. Here is where GyanDhan comes to your rescue as we along with the bank look for alternative solutions when such a problem arises. With a proven record of helping thousands of students out of such situations, GyanDhan prevents property/document related issues from coming in your way to availing an education loan.

    Technical Issues With The Property

    The evaluation process of the applicant’s property, undertaken by Civil Engineers, empanelled by BoB, is an extremely lengthy and time-consuming process. Civil engineers first visit the property, and then measure it, check its location and age, calculate its Distress Sale Price, Fair Price, Market Price. The Turnaround Time (TAT) of the Civil Engineer therefore can be quite high and unpredictable. But with our systematic follow-up, we get this step completed in three working days.

    Issues in pre-visa disbursal

    In addition to the aforementioned solutions, GyanDhan also ensures pre-visa disbursal of loan, that is, we see to it that the bank disburses the loan to the applicant even before he/she is issued his/her visa.


    GyanDhan's Impact Stories


    Empowering students to overcome education loan obstacles

    When the co-applicant didn’t file the ITR (Income tax Return)

    When the student first visited the bank, the branch manager clearly told the applicant that he was not eligible to avail an education loan, since his father, who is a farmer, had never filed an ITR. But when contacted GyanDhan, he got a loan of Rs.40 Lakhs sanctioned from the same branch for MS in the US. Later, when he took a transfer to another university, his loan was cancelled. The bank manager informed that he had to come back to India and submit a fresh application.But again GyanDhan helped him by contacting the senior level officers of the bank with regards to this issue, and his loan was approved without any further hassle. Not only did GyanDhan help him before the sanction of the loan, but also took charge of the problems he faced post-disbursal of the loan, thus, focusing on the post-sales services as well.

    When there were multiple ownerships and two of them were of minors

    A student had an offer for Masters from Dublin Business School, Ireland, and required an education loan with a collateral of Rs. 20 Lakhs. Her case was rejected on the ground that the property was in the name of her mother and five other siblings. And two of her siblings were minors at the time when the education loan was applied for. After facing rejections from various banks and other financial institutions, the student approached GyanDhan for a solution. Our on-ground team took the case forward to the concerned officers of Bank of Baroda and liaised with the legal experts. We arranged for an NOC (No Objection Certificate) from her siblings, and in addition to that, arranged various other documents and necessary affidavits for minors. We made a loan application see the light of its day which was outrightly rejected elsewhere. The time taken to get the loan sanctioned was nearly just one and a half months. By the time you read this story, around Rs.13 Lakhs of the total loan amount will have been disbursed.

    When the property to be pledged as collateral was in a different place than the permanent address

    The student received an admit from Purdue University, United States, to pursue a Masters course. However, there was an issue with the property pledged as collateral. The property was situated in Kerala, and the owner (father of the applicant) resided in Hosur, the satellite town of Bangalore. The student’s application was rejected on the ground that the collateral property was in a different place than the permanent address. After trying out a few other places but all in vain, the student got in touch with GyanDhan. The on-ground team from GyanDhan approached the local Bank of Baroda branch in Hosur, however, no remedy was found. After that, the corporate office stepped in and requested the Specialised Mortgage Store of Bangalore to intervene. SMS Bangalore then contacted the Hosur BOB branch and subsequently the SMS Kerala for the valuation details of the property. Within no time, the problem was resolved and the bank obliged to grant the education loan to the applicant.


    Frequently Asked Questions

    What is the maximum loan amount one can get for overseas studies?

    The maximum loan amount depends on whether your university is on the premier list or not. If your institution is on the premier list then you can get a maximum loan of up to 1.5 Cr and if your institution is not on the list then the maximum amount that you can get is 60 Lakh.

    What is the interest rate for education loan in Bank of Baroda?

    The interest rate depends on whether your institution is on the list of premier institutions and the loan amount you wish to borrow. If your institution is on the premier list, you can obtain a loan at a rate of 9.7%. However, if your institution is not on the premier list, loans up to 7.5 lakh can be provided at an interest rate of 11.15%, while loans above 7.5 lakh can be offered at a rate of 10.20%.

    What is the tenure of a BOB education loan?

    The maximum duration for a BOB education loan extends for a period of up to 15 years.

    What is the margin money on a BOB education loan?

    The margin requirements for BOB education loans vary based on the category of institutions. For premier institutions, there is no margin required for loans up to Rs 4.00 lakh, while a 15% margin is applicable for loans ranging from above Rs 4.00 lakh up to Rs 7.50 lakh. However, for loans above Rs 7.50 lakh in premier institutions, no margin is necessary. In the case of non-premier institutions, there is no margin for loans up to Rs 4.00 lakh, a 15% margin is applicable for loans above Rs 4.00 lakh up to Rs 7.50 lakh, and a 10% margin is required for loans above Rs 7.50 lakh.

    Does BOB education loan get tax benefits?

    Yes, the BOB education loan is eligible for tax benefits under section 80e.

    Is there a prepayment penalty on a BOB education loan?

    No, There is no prepayment penalty on BOB education loans. Therefore you can get your education loan foreclosed if you have the resources for the same.

    Can I get 60 lakh education loan from BOB?

    Yes, you can get an education loan worth 60 Lakhs with the Bank of Baroda by pledging collateral as required by the bank.


    Our Customers. Our Asset


    Vaibhav Desai

    Stevens Institute of Technology, USA

    An alumnus of Stevens Institute of Technology, Vaibhav Desai was working as Data Engineer- SQL at Datavail Infotech. He later decided to pursue MS in US to open up many career opportunities. While articulating how he planned his MS in U...

    Read Vaibhav's story

    Ashish Acharya

    National College of Ireland, Ireland

    Ashish's life story includes working for multiple companies when he decided to pursue masters from abroad after realizing the boom in the analytics sector. He did his masters from National College of Ireland. In his story, Ashish also s...

    Read Ashish's Story

    Yugali Gullapalli

    University of Wisconsin-Madison , USA

    Yugali shares the excerpts from her journey's story of pursuing MS in Computer Systems and Networking, Wisconsin-Madison US. She wanted global exposure and thus chose to study abroad. She describes how she was facing issues with the spe...

    Read Yugali's story

    Ganga Barani

    SUNY Buffalo, USA

    Read how Ganga Barani planned his MS from the SUNY Buffalo US. While working as a software developer at a product-based MNC, he yearned for seeing the world and made his mind to study abroad. In his story, he also tells GyanDhan came as...

    Read Ganga's story

    Abhishek Kumar

    Purdue University, USA

    Graduation from NIT Nagpur and then 4 years in TCS Mumbai, Abhishek's study abroad journey is an interesting tale of planning, preparing, and finally pursuing MS from the Arizona State University. His recollects how he successfully plan...

    Read Abhishek's story

    Pradeep Shekhar

    University of California, USA

    A graduate of IIT Madras, Pradeep Shekhar went on pursue Masters in Communications and Signal Processing from University of California, Santa Barabara. Pradeep revisits his journey to UCSB from IIT Madras and also shares how GyanDhan he...

    Read Pradeep's story

    Hemalatha Jayakrishnan

    Rochester Institute of Technology, USA

    To steer up the career opportunities while working at Hindustan Aeronautics Limited (HAL), Hemalatha Jayakrishnan decided to pursue abroad education. She went on to do MBA from Rochester Institute of Technology, United States. Hemalatha...

    Read Hemlata's story

    Ashutosh Sharma

    The University of Utah, USA

    Discontented by his career growth, Ashutosh Sharma decided to give his career a major boost and went on to pursue MS in Business Analytics from The University of Utah. Ashustosh describes his study abroad journey and also recollects how...

    Read Ashutosh's story

    Deepa Krishnakumar

    University of Auckland, New Zealand

    Deepa was in the academic world working as an assistant professor when het peer group and seniors suggested her about the quality education and career opportunities of abroad education. In her story to the University of Auckland, New Ze...

    Read Deepa's story

    Akash Kashyap

    Arizona State University, USA

    Akash has a deep interest in analytics and was working in Deloitte as a consultant when he decided to study abroad to beef up the career opportunities. He did MS in Business Analytics & Information Management from Purdue University. In h...

    Read Akash's story

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