Bank of Baroda (BOB), established in 1908, is an Indian state-owned bank offering education loans from INR 7.5 lakh up to INR 1.5 crore for overseas studies under the Baroda Scholar scheme. Interest rates start from 6.9% p.a., with a 0.20% concession for female applicants at non-premier institutions. Processing fees are INR 10,000 plus GST, refundable after first disbursement, with repayment tenure up to 15 years.
 

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 education abroad and turn their dream into reality.

Bank of Baroda Education Loan Schemes

Bank of Baroda offers six education loan schemes: Baroda Gyan (9.25%–10.15%, up to INR 4 lakh collateral-free), Baroda Vidya (12.50%, for school students), Baroda Scholar for abroad (9.20%–10.70%), Baroda Education Loan for Premier Institutions (8.15%–8.65%), Baroda Executive Development Scheme (7.10%–8.65%), and Baroda Skill Loan (9.65%, up to INR 1.5 lakh). For abroad studies, Baroda Scholar is the primary product.

Bank of Baroda (BOB) offers a variety of education loan schemes tailored to meet the diverse needs of students pursuing higher education, both in India and abroad. Below are the key education loan schemes provided by BOB:

Baroda Gyan Scheme:

Interest Rate: 9.25% to 10.15% p.a.

Features:

• 
  Collateral: No security required for loans up to ₹4 lakhs. For loans above ₹4 lakhs, collateral is required.
• 
  Processing Fee: Nil.
• 
  Loan Tenure: 10 to 15 years.
• 
  Eligibility: Applicable for graduation, post-graduation, professional courses, management courses, and more.

Baroda Vidya Scheme:

Interest Rate: 12.50% p.a.

Features:

• 
  Collateral: No collateral or security required.
• 
  Processing Fee: Nil.
• 
  Loan Tenure: 12 instalments per year, starting 12 months after the first disbursement.
• 
  Eligibility: Available for Indian citizens with admission to a recognized school. The loan is granted in the name of the student's parent.

Baroda Scholar Scheme (For Abroad):

Interest Rate: 9.20% to 10.70% p.a.

Features:

• 
  Collateral: No security required for loans up to ₹4 lakhs. Third-party guarantee and future income assignment are needed for loans above ₹4 lakhs and up to ₹7.5 lakhs. For loans above ₹7.5 lakhs, 100% collateral security and future income proof are required.
• 
  Processing Fee: 1% of the loan amount, maximum ₹10,000 (refundable after first disbursement). ₹7,500 per property upfront (non-refundable).
• 
  Loan Tenure: Up to 15 years.
• 
  Eligibility: For Indian students admitted to specified courses like graduation, post-graduation, CPA, diploma/degree, management, STEM, medical, etc.

Baroda Education Loan for Premier Institutions (India):

Interest Rate: 8.15% to 8.65% p.a.

Features:

• 
  Collateral: No collateral required for loans up to ₹20 lakhs. Collateral worth 100% of the loan amount is needed for loans above ₹20 lakhs.
• 
  Processing Fee: Nil.
• 
  Loan Tenure: Up to 15 years.
• 
  Eligibility: Admission to technical/professional courses abroad through merit-based selection or entrance test.

Baroda Executive Development Scheme (India):

Interest Rate: 7.10% to 8.65% p.a.

Features:

• 
  Collateral: Varies depending on the loan amount and course.
• 
  Processing Fee: Nil.
• 
  Loan Tenure: Up to 15 years.
• 
  Eligibility: Available for students seeking admission to premier institutions in India.

Baroda Skill Loan Scheme:

Interest Rate: 9.65% p.a.

Features:

• 
  Collateral: No collateral or third-party guarantee required.
• 
  Processing Fee: Nil.
• 
  Loan Tenure: The loan amount ranges from ₹5,000 to ₹1.5 lakh, and the repayment period depends on the sanctioned amount with a maximum tenure of up to 7 years.
• 
  Eligibility: For students pursuing skill development courses.

Features of Bank Of Baroda Education Loan for Abroad Studies

The Baroda Scholar scheme for abroad covers loan amounts from INR 7.5 lakh to INR 1.5 crore, with floating interest rates of 6.9 - 10.45% p.a. and a 0.20% concession for female applicants at non-premier institutions. Processing fees are INR 10,000 plus GST (refundable), margin money ranges from 0%–15%, and repayment tenure extends 10–15 years with a moratorium of course duration plus 12 months.

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

*Education Loan Interest Rate Bank of Baroda as of May 2026

Bank of Baroda Education Loan Interest Rate

BOB education loan interest rates start from 6.9% and go up to 10.45% p.a. across all schemes. For the Baroda Scholar abroad scheme specifically, the floating rate depends on the loan amount and whether the institution is on BOB's premier list. Female applicants enrolling in non-premier institutes are eligible for an additional 0.20% concession.

BOB Education Loan is intended to meet the diverse needs of students with an interest rate that is competitive and flexible, especially under the Baroda Scholar study abroad program. This loan's interest rates are as follows:

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  6.9 - 10.45% (Floating): The precise rate is determined by variables including the loan amount and whether the institution is on the bank's list of distinguished institutions.

• 
  Special Concession: Female applicants enrolling in non-premier institutes are eligible for a 0.20% interest rate concession.

Bank of Baroda Education Loan Eligibility Criteria

BOB requires the applicant to be an Indian citizen aged 18 or above, with confirmed admission to a recognised university through a merit or entrance-based selection process. A strong academic record with relevant entrance scores (GRE, IELTS, or TOEFL) is mandatory. Students whose institutions appear on BOB's premier list qualify for better rates and higher collateral-free limits.

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  The student should be an Indian citizen with a minimum age of 18 years.
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  The student should have secured admission to a recognized university for a professional or technical course through a merit/entrance-based selection process.
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  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 on the Bank of Baroda website.
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  The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. The student must also fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.

Required Documents for Bank of Baroda Education Loan

BOB education loan documents fall into three categories: applicant KYC and academic records, co-applicant income proof (salary slips or ITR for the last 2 years, 6-month bank statements), and collateral or property documents. Documentation requirements vary based on the applicant's academic background, co-applicant's financial profile, and the location and type of collateral property offered.

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 Bank of Baroda Education Loan Online?

Applying for a BOB education loan online takes five steps: visit the BOB website, fill the application form, upload your documents, and submit for evaluation. If you apply through GyanDhan, you skip the branch stage entirely. We send your application directly to BOB's Specialised Mortgage Store, bringing approval time down from 30–45 days to 15–20 days.

Step 1 - Visit the Bank of Baroda website and navigate to the education loan section.

Step 2 - Click on 'Apply Now' to open the online application form.

Step 3 - Fill in your personal, academic, and co-applicant details accurately.

Step 4 - Upload all required documents including proof of admission, academic records, KYC documents, and co-applicant income proof.

Step 5 - Submit the form. BOB will verify your application and transfer it to their Specialised Mortgage Store (SMS) for evaluation. This branch-to-SMS transfer is where delays typically happen for direct applicants.

Applying through GyanDhan skips Step 5 entirely - we submit your application directly to the SMS electronically, saving several days and reducing branch visits to zero.

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!

How to Apply for a BOB Education Loan via GyanDhan?

Applying through GyanDhan takes one step on your end - check your loan eligibility on GyanDhan's website. After that, a dedicated counsellor takes over, handling everything from document collection to coordinating directly with BOB's Specialised Mortgage Store. No branch visits, no chasing the bank yourself, and approvals come through in 15–20 days instead of the usual 30–45.

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!

Benefits of Getting Your Bank of Baroda Education Loan Through GyanDhan

Applying through GyanDhan gives BOB borrowers four key advantages: a best-rate guarantee for the entire loan tenure, approval in 15–20 days versus 30–45 days direct, 100% free services with no processing fees charged to applicants, and dedicated escalation support to resolve documentation, property, and approval bottlenecks. GyanDhan also ensures pre-visa disbursal of the loan amount.

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.

Doorstep service: 

BOB education loan for abroad, GyanDhan provides doorstep pickup service of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Kolkata.

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 Bank of Baroda Education Loan

The three most common BOB loan bottlenecks are procedural delays (branch transfers to Specialised Mortgage Store), legal issues with collateral property documents, and lengthy technical property evaluation by empanelled civil engineers. GyanDhan bypasses the branch stage entirely by submitting applications electronically to the SMS, resolves property document discrepancies with legal experts, and tracks property evaluation to completion within 3 working days.

Below, we describe typical bottlenecks you should watch out for while applying for a Bank of Baroda education loan, along with ways in which we work around them 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.

Legal Issues With The Property:

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.

BOB Education Loan EMI Calculator

GyanDhan's EMI calculator helps BOB borrowers estimate monthly repayments by entering loan amount, tenure, and interest rate. Adjusting the moratorium repayment option - Partial Simple Interest, Full Simple Interest, or Full EMI shows how each choice affects monthly outflow during the study period. Use the calculator to compare repayment scenarios before finalising your BOB loan application.

If you are worried about the EMI burden, you can plan smartly using GyanDhan's education loan EMI Calculator. Fill in all the details and this user-friendly tool will help you estimate your monthly repayment. The best feature to explore is filling in different repayment methods during the moratorium to help you choose the most suitable loan repayment option.