Website : www.bankofbaroda.com/
Bank Type : NationalisedBank
Provided study loan amount in Abroad
Eligibility :
Should be Resident Indian.Secured admission to either of above courses
Coverage :
Fee payable to college / Institution / University.Examination / Library / Laboratory Fee.Fee and other charges payable to hostel.Purchase of books / equipments / instruments.Personal Computers / Laptops wherever required.Caution deposit / building fund / refundable deposit supported by institution bills / receipts.Any other expenses required to complete the course – like study tours, project works, thesis, etc.
Margin
Upto Rs. 4.00 lacs :- NIL;Above Rs. 4.00 lacs :- 5%;Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.
Interest rate
Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.1% interest concession is provided if interest debited during repayment holiday is serviced.1% Concession in rate of interest to loans for girl student.Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
Processing Fee : No processing charges
Re-Payment :
Course period + 1 year or 6 months after getting job, whichever is earlier.The loan is repayable in 5-7 years after the above period
Security :
Upto Rs.4 lacs : No security.Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loanamount along with assignment of future income
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