Bank of baroda education

Almost 80 percent of students take education loan for study abroad because they lack enough funds to pay their fees and living expenses in the foreign land.  In todays time thanks to financial institutions like Bank of Baroda education loan the access to these loans is very easy.

Bank of Baroda education loan is the most cost competitive loan in the market. They have a list of priority universities where in they provide special discount of 0.75% apart from the normal benefits which include Refundable processing fee, 80E tax benefit, Complete moratorium during the course of study, 100% of loan against collateral value, and faster processing through dedicated Specialise Mortgage Stores across the country.

Let’s look at the process of applying for a bank of Baroda education loan through Edu loans – their digital connecting partners.

1.Filling up the form at Edu loans – we at Edu loans were the first platform to get digitally connected with Bank of Baroda education loan and provide them a complete file by using API integration. The student is required to fill up our form which directly hits the service of the Bank of Baroda education loan.

2.Visit to the Specialized Mortgage Store – Specialized Mortgage Store is the processing unit for Bank of Baroda retail loan which includes education loans. There are approximately 65 SMS across the country which Have dedicated education loans officers to handle the enquiries of the student. We at Edu loans have provided the complete set of documentation which he can take to the loan officers for faster execution.

3.Initiation of legal verification and property valuation – Once the entire set of documents are complete the Bank of Baroda education loan officer starts with the process of legal verification and property valuation. Both of these are done by external Wenders who contact the student/parent independently.

4.Final approvals – once the file it’s complete the bank of Baroda education loan officer adds legal verification and property valuation and sends the same to a centralized approving body which currently is located in Gandhinagar. Once the file has gone for approval to Gandhinagar within a couple of days you can expect either approval for further clarification for bank of Baroda education loan.

5.Disbursal documentation – Once the loan is finally approved the sanction letter and the entire file is sent to the closest branch of the student for his disbursal documentation. Bank of Baroda education loan Is generally approved without any major covenants. The disbursal documentation mainly includes the submission of mortgage able property and personal guarantees of the applicant and the co-applicant.

The entire process if done correctly generally takes between 15 to 25 days for completion. Among the nationalized banks,  Bank of Baroda is the most progressive when it comes to education loans. Bank of Baroda education loan is the only one which has a priority list among various other nationalized banks. Hence it becomes a win-win for students looking to avail study abroad education loan

However, when you take an education loan yo start your career with a huge liability-to pay the loan amount within the specified time limit. What adds to the burden is the interest accrued during moratorium which is significant and  gets added up with the principal amount.Like for example in Bank of baroda education loan you are offered complete moratorium for the years of study which in case of bachelors can be four years.  But, with some research and planning, you can pay off your education loan for study abroad debt quickly and efficiently. Whether you’re getting ready to apply for an education loan for study abroad or will soon be entering your repayment period, there are some tips worth keeping in mind.

Look Into Consolidation or Refinancing

It is recommended to look at consolidation or refinancing. Once you are employed and earning handsomely you can look to get a loan at a cheaper interest rate.  You can as well look to transfer your education loan to Bank of Baroda or any nationalized bank  Especially if you have multiple loans with varying interest rates and your financial situation has changed since you took them.

Get Help From Your Employer

There are many employers that offer reimbursement for tuition or contribute to your student loan payments. If you’re a recent graduate seeking a good job after undergraduate studies, it is advisable to look for employers who can help you pay back your loan and prevent you from getting into debt for a longer time frame.

Pay a Little Extra When You Can

It is always recommended to pay a little extra whenever you can as extra money towards your education loan for study abroad repayment. This doesn’t mean you have to allocate an extra $200 to your loans every single month but if you have extra cash in pocket, you can put it towards your student loans.  Also, making the equivalent of one extra loan payment each year can save you a lot of money in interest and allow you to pay off your balance sooner.


Eduloans is a one and only digital platform in India that provides a competitive platform for students across the country to connect with potential lenders. We work very closely with over 15 lenders for education loan for study abroad.  We help students who aim at studying at the top universities in a foreign land to take the best education loan for study abroad at competitive rates as per their budget and financial status. We have a team of skilled counselors who guide students through every step of loan taking, visa, and getting admission. We hold your hands through every step and don’t allow you to fall apart.

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