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The Info You Need on Bank of Baroda Education Loans (Part 2)

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The Info You Need on Bank of Baroda Education Loans (Part 2)

Bank of Baroda (BoB) offers eight education loans. We look at four of them in this blog. We covered four in yesterday’s blog.

Today we look at these four loans:

  • Baroda Education Loan for Indian Executive Development Programmes
  • Baroda Education Loans for Foreign Executive Development Programmes
  • Skill Loan Scheme
  • Higher Education & Skill Development Guarantee Scheme for Delhi Students

Click here for part 1 of the series on Education Loans from Bank of Baroda.

Baroda Education Loan for Executive Development Programme (EDP) from Premier Institutions in India

This loan helps working professionals pay the course fees for Executive Development Programmes offered by premier educational institutions in India. Bank of Baroda has classified the premier institutions into 4 categories, viz. AA, A, B and C.

The maximum loan amount that you can apply for is Rs. 20 lakh.

The EDP can be part-time, on the weekend or even online. BoB disburses the loan as a series of payments over the required number of terms or years to pay the course fees or other approved charges, just like most other education loans.

Baroda Education Loan for Executive Development Programme (EDP) from Premier Institutions in Foreign Countries

This Bank of Baroda education loan is similar to the EDP for Indian premier institutions but meant for foreign institutes. It helps students who have gained admission into an Executive Development Programme (EDP) in premier educational institutions abroad to pay their course fees. The maximum loan amount that you can apply for is Rs. 80 lakh with security.

Like the previous EDP loan, this one too can be taken for part-time, weekend or online courses. Even here, BoB has provided a list of colleges, universities and institutions that can be categorised as premier institutes.

Baroda Skill Loan Scheme

This BoB loan helps students who have gained admission into technical courses from training institutes or polytechnics to pay their course fees. The loan amount is smaller and starts from Rs. 5,000. It can go up to Rs. 1.5 lakh depending on the duration of the course.

The loan is available for polytechnics and training institutes (ITI) in India, not abroad. There is no clarity on online courses but as most of these institutes do not offer much in terms of online education, except for the last two years, it is likely the loan is only offered for classroom courses. Being a nationalised bank, we don’t see BoB leading the industry in more practical, student-centric loans.

Higher Education & Skill Development Guarantee Scheme for Delhi Students

This loan is a Government of Delhi initiative for students who have completed their Class 10 and 12 studies from the state. Under this scheme, if the student wishes to continue higher studies in Delhi (diploma or degree), then they can get the funds needed for their course fees and expenses through the loan.

BOB offers loans up to Rs. 10 lakh under this scheme. Children of Government of Delhi National Capital Territory (NCT) employees or officials and government servants who are posted in the NCT region also qualify for this loan.

Click here for part 1 of the series on Education Loans from Bank of Baroda.

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