Baroda Scholar Scheme

For students going abroad for Professional/Technical studies.

Eligibility :
	Student Should be an Indian National. Secured admission to Professional/Technical Courses at foriegn Universities/Institutions. No minimum qualifying marks. Courses Graduate/Post Graduate/Doctorate/Job Oriented Professional/Technical Courses offered by reputed Universities overseas
Loan Details
	Coverage of expenses  Admission/ Tuition fees to College/University. Hostel/ Mess charges. Examination/Library/ Laboratory fee. Purchase of books/ equipments/ instruments/ uniforms. Caution deposit/ building fund/ refundable deposit supported by institution bills/ reciepts. One way travel expenses/ Passage money. Purchase of computers if essential for completion of the course. Any other expense required to complete the course e.g. study tour, project work, thesis etc. Quantum  Graduation & Other Courses up to 3 years duration : Rs.10 Lacs Post graduation and other advanced studies : Rs.15 Lacs Margin : 15% Security : Upto Rs.4.00/- lacs : No security Above Rs. 4.00/- lacs upto Rs. 7.5 lacs : Collateral in the form of a suitable third party guarantee. Above Rs. 7.5 lacs : Collateral security equal to 100% of loan amount. Zero processing and documentation charges. Drafts in foreign currencies drawn on the bank branches/ subsidiaries required in favour of College/University/Student will be issued free of exchange/commission.
Rate of Interest
	Up to Rs.4.00 lacs - 12% p.a. Above Rs. 4.00 lacs - BPLR + 0.75 (ie 14%) p.a. Simple interest to be charged during the repayment holiday/moratorium period. Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs. 1% interest concession to be provided if the interest debited during the repayment holiday is serviced.1% Concession in rate of interest to loans for girl student.
Repayment
	Repayment holiday/ moratorium period is course period + 1 year, or 6 months after getting job, whichever is earlier. The loan is repayable in 5 years after the above period. If the student is not able to complete the course within the scheduled time extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, Bank may at its discretion consider such extensions as may be deemed necessary to complete the course. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Installments (EMI) be fixed.
Contact Details Head Offices Suraj Plaza-1, Sayaji Ganj, Baroda-390005 Phone : (0265) 236 1852 (10lines) Fax     : (0265) 236 2395, 236 1824, 236 1806 Baroda House, P.B. No.506, Mandavi, Baroda-396006 Phone : (0265) 256 3932 Fax     : (0265) 256 2445 Corporate Centre Baroda Corporate Centre, Plot No - C-26, G - Block, Bandra - Kurla Complex, Bandra (East), Mumbai-400051 Phone :(022) 6698 5000- 04 Fax :(022) 2652 350 Website : visit Bank of Baroda Zonal Offices Bank of Baroda Regional Offices