|Bank Of Baroda||Government||http://www.bankofbaroda.co.in/|
YES 1) Baroda Gyan
2) Baroda Education Loan for Vocational Education & Training
1) Applicant must be an Indian national, residing in India.
2) Should have secured admission into any of the courses listed under the section ‘Course Eligibility’ below.
3) This Bank of Baroda Education Loan scheme applies to merit students (eligible for a seat under the merit quota) but choose to pursue a course under the management quota.
4) Management quota seats considered under the Bank of Baroda education loan scheme, fees as applicable to these payment seats (authorized by State Government/Regulatory body approved by the Government) will be taken, subject to the viability of repayment.
1) The applicant must be an Indian national.
2) He/she must have secured admission in a vocational course that is duly approved by Government Ministry/Department/Organization or a similar undertaking that is approved and supported by the National Skill Development Corporation or State Skill Mission/Corporation.
3) The final certification/diploma/degree etc. must be completely recognized by the Government or by any organization that is certified by the Government.
4) The applicant must not be a minor. However, if such is the case, then the bank will ensure that the concerned documents are executed by the applicant’s parents and a letter of ratification will be collected from the applicant when he/she attains maturity. There is no maximum age limit to apply for this loan.
Rs. 10 lakhs
Note:- Margin is applicable on pro-rata basis on yearly basis as and when disbursements are availed.
The applicant can opt for the Group Credit Life Insurance Cover. The insurance premiums will be financed by the bank, and eventually recovered along with the loan EMIs.
Baroda Education Loan for Vocational Education & Training:
1) Formulated by Government of India, Ministry of Human Resources Development and Department of Higher Education, to help economically backward students to pursue technical/professional courses in India.
2) Provides interest subsidy through the moratorium period, on Bank of Baroda Education Loan.
3) Subsidy amount tops up at Rs.10 lakhs. The course fee however, may exceed this limit.
4) The interest will be borne by the student post the moratorium period.
5) The student’s parental family income must not exceed Rs.4.5 lakhs/annum, rendering him a part of the Economically Weaker Section of the society. This fact must be confirmed via an income certificate that is issued by the State Government/ Organization appointed by the State Government.
6) Subsidy only applies if the student is enrolled for a course that is properly recognized by all concerned certification bodies/ Government organizations.
7) Subsidy applies to a student only once (first undergraduate course or post graduate degrees/diplomas that are conducted in India). Also, subsidy is applicable on integrated courses (graduation + post-graduation).
8) Subsidy will be terminated if the student discontinues or gets expelled from the concerned course.
9) In order to avail this Bank of Baroda education loan subsidy, an agreement must be signed by the student borrower and the Bank.
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