Get instant loan offer suitable to your profile !
Simple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
All you need to know about BOB education loan for studying abroad
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.
This table provides essential details about BOB education loan, covering loan amounts, interest rates, fees, and other loan terms.
|7.5 Lakh INR - 1.5 Cr INR
|Rate of Interest
(0.20% concession for female applicants of non-premier institutes)
|INR 10,000 + GST (Refundable)
|Property evaluation charges
|Course duration + 12 months
|10 - 15 years
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.
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!
Below, we describe typical bottlenecks that you should watch out for, along with ways in which we work around such bottlenecks to fast-track your education loan application.
(Principal + Interest)
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.
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more