Education and Career Forum

Hello sir, I have BPL card of sate government scheme and I want to study B.Tech in Information Technology. Please tell me procedure to get an education loan from Bank of Baroda and subsidy in interest?

To get a loan from Bank of Baroda you need to apply online by clicking the tab "loan" then another page will open and then you have to click on education loan and after that you have to fill the form and have to scan the required documents including your signature or you need to go physically to the nearest branch of Bank of Baroda.
The candidate needs to submit photo copy of Address proof, Income proof, Income details, Education documents like SSC and HSC mark sheet or degree certificates. The applicant should be an Indian national.
The student should not have any outstanding loan amount from any other bank.
The candidate must have secured admission in the recognized University in India or abroad.
Parents should sign up as the Co-Applicant.
No, there is no such provision to get subsidy on the basis of BPL card. You will get the subsidy till you are in moratorium period (one year or six month after completion of course and getting the job whichever is earlier) after post moratorium period the interest amount will be borne by the student.

You have to submit an income certificate proof to get any kind of interest subsidy on education loan. If your family income is less than 1 lakh, then you will be eligible for interest subsidy according to central government scheme.

You can apply for education loan by visiting the nearest bank of Baroda branch. You have to apply on an application form with necessary documents. Also, presence of a guarantor will be required.