Bank of Baroda (BoB) — Education Loan (India)

Overview 

Bank of Baroda (a major public sector bank) provides multiple tailored education loan products for Indian students, including Baroda Gyan, Baroda Scholar, and premier-institution variants. It emphasizes low cost (public bank pricing), support for premier institute admits, and a variety of disbursement and moratorium options.

Who it’s best for

Students seeking lower-cost public-sector lending, applicants admitted to premier Indian institutions (where BoB often offers special concessions), and families preferring government-backed processes and robust branch support.

Key features (India-focused)

• Product range: Baroda Gyan (school/undergrad needs), Baroda Scholar (job-oriented higher studies), and Baroda Premier (for top institutes) — each with different caps and benefits.

• Loan amounts: public information shows loans up to several crores for premier courses; smaller schemes for school/university needs with no security up to threshold.

• Moratorium & tenor: Course period + 1 year (typical for many BoB products); repayment tenure up to 10–15 years depending on product.

Interest rates & concessions

BoB advertises competitive rates starting from lower single digits above base rates for premier schemes (public banks typically offer better margins for big-ticket, secured loans). Exact numbers depend on product and security; check latest bank rate cards.

Eligibility & documentation

Indian nationals with admission to recognized courses; co-applicant usually required (parents). Documentation includes proof of admission, fee structure, KYC, and income proofs. BoB offers simplified/no-security options for top institute admits. 

Special programs

• Baroda Gyan: lower amounts for school/university students with simplified documentation and often no processing fee below thresholds.

• Premier-institution concessions: preferential margins, no collateral up to a limit for certain institutes.

Pros / Cons

Pros: public bank rates, products for premier admits, no prepayment penalty on many schemes.
Cons: bureaucratic processing may be slower than NBFCs; verify real processing times per branch.