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Bank Of Baroda-Education Loan

Following are the loan options available in Bank Of Baroda for Students:

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

Contact :
Delhi Tel: 3321562,3325147
Bangalore Tel: ‘5586137, 5595347
Chennai Tel: ‘8283652
Hyderabad Tel: ‘3237760, 3230450, 3230368
Kolkata Tel: ‘4754047
Mumbai Tel: 2656727

http://www.bankofbaroda.com/int_adv.asp#retailloan

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