Baroda UP Gramin Bank Education Loan
Baroda UP Gramin Bank Education Loan offers floating rates from 10.50% to 11.15% p.a. and fixed rates from 13.05% to 14.55% p.a., with special NHFDC rates of 5.00% to 9.00% p.a. for persons with disabilities. Female students get a 0.50% rebate, and premier institute applicants such as IIM and XLRI students pay as low as 8.15% p.a.
About Baroda UP Gramin Bank Education Loan
- The Government of India provides an education subsidy under the CSIS scheme for eligible students, subject to specific terms and conditions.
- This subsidy is available to students whose family has an annual income of up to Rs.4.50 lakh, as specified by the bank.
- A 1% interest rate concession is available if the interest is paid during the study period, and the EMI payments are made regularly after the repayment holiday.
- Female students receive an additional 0.50% interest rebate.
- Students from premier institutions like IIM Ahmedabad, Kolkata, Bangalore, and XLRI-Jamshedpur are offered a reduced interest rate of 8.15% to 9.95%
Baroda UP Gramin Bank Education Loan Interest Rate
Loan Scheme | Criteria | Floating Interest rate per annum | Fixed Interest rate per annum |
Education Loan Scheme | Up to Rs.4.00 lakh(0.5% rebate girl student) | 10.50% | 13.05% |
| More than Rs.4.00 lakh to Rs. 7.50 lakh (0.5% rebate girl student) | 10.50% | 13.05% |
| More than Rs. 7.50 lakh (0.5% rebate girl student) | 11.15% | 14.55% |
Education Loan such as IIM-Ahmadabad/Kolkata/Bangalore/XLRI-Jamshedpur etc. | All Cases | 8.15% to 9.95% | - |
NHFDC (Interest rebate of 1% for women) | Up to Rs. 50,000 | - | 5.00% |
| More than Rs. 50,000 to 5 lakhs | - | 6.00% |
| More than Rs.5 lakh to Rs.15 lakhs | - | 7.00% |
| More than Rs. 15 lakhs to Rs. 30 lakhs | - | 8.00% |
| More than Rs. 30 lakhs to Rs. 50 lakhs | - | 9.00% |
Note: The current BPLR rate offered by the Baroda UP Gramin Bank is 14.25%
Education loan offered by other banks in India
- ICICI Bank Education Loan
- Axis Bank Education Loan
- Bank of India Education Loan
- Bank of Maharashtra Education Loan
- Canara Bank Education Loan
- Central Bank of India Education Loan
- City Union Bank Education Loan
- Federal Bank Education Loan
- HDFC Bank Education Loan
- IDBI Bank Education Loan
- Indian Bank Education Loan
- Indian Overseas Bank Education Loan
- Jammu and Kashmir Bank Education Loan
- Karnataka Bank Education Loan
- SBI Education Loan
- UCO Bank Education Loan
- Union Bank of India Education Loan
- Kotak Mahindra Bank Education Loan
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Summary
Baroda UP Gramin Bank Education Loan gives students access to floating- and fixed-rate funding for higher studies, with additional rebates for female students and applicants from premier institutes such as the IIMs. A separate NHFDC scheme extends further-discounted rates to persons with disabilities, alongside the government's CSIS interest subsidy for eligible students. Visit your nearest Baroda UP Gramin Bank branch to apply, since online applications are not currently available.
FAQs on Baroda UP Gramin Bank Education Loan
1.Can I apply for the Baroda UP Gramin Bank Education Loan online?
No, the Baroda UP Gramin Bank Education Loan cannot currently be applied for online. You need to visit your nearest Baroda UP Gramin Bank branch and submit your application in person.
2.Does the Baroda UP Gramin Bank Education Loan offer a rebate for female students?
Yes, female applicants for the Baroda UP Gramin Bank Education Loan are eligible for an additional interest rebate over the standard rate. The exact rebate is listed in the interest rate table above.
3.Can IIT or other premier institute students get the Baroda UP Gramin Bank Education Loan?
Yes, students admitted to IITs, IIMs and other premier institutes can apply for the Baroda UP Gramin Bank Education Loan. These applicants are offered a specially discounted interest rate compared to the standard scheme.
4.What is the CSIS scheme under the Baroda UP Gramin Bank Education Loan?
The CSIS, or Central Sector Interest Subsidy, is a government scheme that supports eligible education loan borrowers from economically weaker sections. Students availing the Baroda UP Gramin Bank Education Loan can check with their branch whether they qualify under this scheme.
5.Is the NHFDC loan under the Baroda UP Gramin Bank Education Loan only for women?
No, the NHFDC scheme under the Baroda UP Gramin Bank Education Loan is designed for persons with disabilities, and women borrowers receive an additional interest rebate within this scheme. Details of the applicable rates are available in the interest rate table above.
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