#1  
18th March 2015, 03:17 PM
Unregistered
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Mode of Repayment against Education Loan offered by Bank Of Baroda for self organized 1 year Diploma course?


Hello,
I have applied for Manipal Bank Of Baroda recruitment.
There I have to give written test and they will provide
me 1 year Diploma course. For this, Bank of Baroda is
giving education loan. I want to know that what will be the
repayment mode of this education loan?




  #2  
21st March 2015, 02:32 AM
deep_4
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Join Date: Nov 2010
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Posts: 3,190
Post Re: Mode of Repayment against Education Loan offered by Bank Of Baroda for self organized 1 year Diploma course?

Quote:
Originally Posted by Unregistered View Post
Hello,
I have applied for Manipal Bank Of Baroda recruitment.
There I have to give written test and they will provide
me 1 year Diploma course. For this, Bank of Baroda is
giving education loan. I want to know that what will be the
repayment mode of this education loan?
Students those who are resident of India and are meritorious students, are eligible for loan under Baroda Gyan scheme. Students those who are aspiring to study in India, the Baorda Gyan scheme is meant fo them.

Talking about Eligibility to get loan from Bank of Baroda, Meritorious student who qualified for a seat in reputed institution under merit quota and if student chooses to pursue under Management quota (fees as approved by the state government for payment seats will be taken subject to viability of the repayment) are eligible for it. Additionally if student going for premier institutes then 1% concession will be provided to the student.

Moratorium Period/Repayment Holiday for Bank of Baroda education loan is the course period(in years/months) plus 1 year or 6 months after getting job, whichever is earlier.

Repayment Period under this Scheme is 10 years up to 7.5 lacs and 180 months if the loan amount is above 7.5 lacs. Simple interest rage will be charged at monthly rests during the repayment holiday or Moratorium period. 0.5% concession will be given to girl student and there will be penal interest @ 2% on overdue amount, if the loan amount exceeds Rs 4 lacs.




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