Education and Career Forum

Hello, I am looking forward to apply for Skill Loan Scheme in Bank of Baroda. I would like to know about the terms and conditions for applying an education loan in this bank which is Skill Loan Scheme. Can anyone tell me?

Terms & Conditions under Bank of Baroda Skill Loan Scheme:

Quantum of finance will be in the range of Rs. 5,000/- to Rs. 1,50,000/-.

There will be no margin under Bank of Baroda Skill Loan Scheme.

No collateral or third party guarantee will be required however, the parent will execute loan document along with the student borrower as joint borrower.

Moratorium period is upto 6 months from the completion of the course for courses of duration upto 1 year and 12 months from the completion of the course for courses of duration above 1 year.

The borrower can repay the loan amount any time after commencement of repayment without having to pay any prepayment charges.

For details:
https://www.bankofbaroda.com/skill-loan-scheme.htm