Bank of Baroda education loan is one of the good options which study abroad aspirants can consider. BOB education loans come under the Collateral education loan segment. The Bank of Baroda education loan is divided into six schemes:

1. Baroda Vidya for up to 12th standard education loans
2. Baroda Gyan for pursuing higher education in India
3. Baroda Scholar for pursuing higher education abroad
4. Baroda education loan for premier institutes in India
5. Baroda skill development loan for small skill development courses
6. Bank of Baroda Executive development programs in India and Abroad

The most common type of Bank of Baroda education loan scheme is Baroda Scholar which is the primary focus of this article.  

Amount offered under Bank of Baroda education loan

The Bank of Baroda education loan applicants can receive up to 80 lakhs under the Baroda Scholar scheme for the appropriate collateral. You can even secure higher loan amounts. But, it happens only when you process your application via WeMakeScholars (WMS), which is the official national Digital partner for Bank of Baroda education loan processing.  

Rate of Interest for Bank of Baroda education loan

Currently, the Bank of Baroda education loan has a Marginal Cost Lending Rate or MCLR- the minimum rate at which the bank can lend- is 8.65 %. The interest rate of the Bank of Baroda education loan under Baroda Scholar is MCLR+1.25. This means the interest rate of male applicants is 10%. And the interest rate of female applicants is 9.5% (for prime universities). For non-prime, an additional 0.5% adds on the rate of interest.

Read more: SBI abroad education loan schemes- Interest rates @8.99%*  

Moratorium period for Bank of Baroda education loan

The Bank of Baroda education loan recipients need not pay anything to the bank until 12 months after the course. The total education loan can be repaid in 15 years.  

Types of Universities under Bank of Baroda education loan scheme

Based on the university or college, the Bank of Baroda education loan applicants is divided into two categories:

1. Bank of Baroda education loan for Prime or premium University.
2. Bank of Baroda education loan for Non-premium University.

Advantages for prime university attending students

If the applicant is attending a Prime University then they have certain advantages over other applicants such as:

1. Lower interest rates: You get a lower rate of Interest of 10% for male and 9.5% for female candidates. The non-premium university applicants have to pay an additional interest rate of 0.75%.
2. Higher loan amounts: The maximum loan amount offered for prime university applicants is 80 lakhs. While the non- prime applicants can get only up to 60 lakhs. As told earlier, you can secure even higher loan amounts if you process your application via WeMakeScholars (WMS), which is the official national Digital partner for Bank of Baroda education loan processing.
3. NO loan margin: There is no loan margin for the prime university applicants. This means they can receive 100% of the total expenses (tuition fee + living expenses + travel expenses + miscellaneous). While the non-prime applicants can get only 90% of the total expenses.

Applying to Bank of Baroda education loan through WeMakeScholars

Bank of Baroda asks you to submit all the documents in the branch. This takes an average 3-6 days to examine and then they send it to SMS. This SMS is the processing center where further steps are carried out until the sanction. But if you apply via WeMakeScholars,  your file will be directly submitted to the SMS. By doing this, you almost save a week in the processing time. In short, applying via WeMakeScholars for your Bank of Baroda education loan can make your loan processing faster by more than a week. Also, the entire processing fee of the bank will be refunded to you, once the loan is sanctioned and you take the first disbursement.

Read more: Abroad Education Loan: Full Process, Eligibility, timeline etc.  

Here is the list of Universities classified as prime by the Bank of Baroda:

Prime Universities for STEM programs:

In the United States of America:

1. Stanford University
2. California Institute of Technology (Caltech)
3. Massachusetts Institute of Technology (MIT)
4. Princeton University
5. Georgia Institute of Technology
6. Carnegie Mellon University
7. The University of California, Berkeley(UCB)
8. The University of Illinois at Urbana-Champaign
9. University of Michigan
10. Cornell University
11. Northwestern University
12. Purdue University West Lafayette
13. Columbia University (Fu Foundation)
14. The University of Texas at Austin
15. University of Texas Austin
16. Harvard University
17. University of California Santa Barbara
18. University of California San Diego
19. Johns Hopkins University
20. University of Wisconsin Madison
21. University of Washington
22. Rice University
23. Ohio State University
24. Pennsylvania State University- University Park
25. Texas A&M University College Station
26. University of Southern California (Viterbi)
27. University of California Davis
28. University of Maryland College Park
29. University of Minnesota Twin Cities
30. Virginia Polytechnic Institute and State University
31. University of Colorado Boulder
32. North Carolina State University
33. University of California Irvine
34. University of Florida
35. Arizona State University
36. Michigan State University
37. University of California, Riverside
38. University of Notre Dame
39. University of Massachusetts
40. Case Western Reserve University
41. University of Virginia
42. University of California, Santa Cruz
43. Boston University
44. Colorado School of Mines
45. Rutgers, the State University of New Jersey
46. Florida State University
47. The University of Tennessee, Knoxville
48. University of Texas Dallas
49. Binghamton University, State University of New York
50. Rensselaer Polytechnic Institute
51. University at Buffalo SUNY
52. Northeastern University
53. University of Connecticut
54. Drexel University
55. The University of Arizona
56. Florida International University
57. George Washington University
58. The University of Hawaii at Mānoa
59. University of Houston
60. University of Nebraska-Lincoln
61. University of Illinois, Chicago (UIC)
62. University of South Carolina
63. University of South Florida
64. Stony Brook University
65. University of Tulsa
66. University of Utah
67. Washington University in St. Louis
68. University of Iowa
69. Syracuse University
70. Tufts University
71. Iowa State University
72. Wake Forest University
73. University of Wisconsin-Milwaukee
74. Washington State University
75. Colorado State University
76. University of Arkansas
77. University of Cincinnati
78. Lehigh University
79. George Mason University
80. Louisiana State University
81. University of Oklahoma
82. University of Maryland, Baltimore County
83. Missouri University of Science and Technology
84. New Jersey Institute of Technology
85. New Mexico State University
86. Old Dominion University
87. Oregon State University
88. Stevens Institute of Technology
89. The University of Texas at Arlington
90. The University of Texas at San Antonio
91. Texas Tech University
92. University of Toledo
93. University of Alabama
94. The University of Alabama at Birmingham
95. Auburn University
96. Marquette University
97. Mississippi State University
98. University of Missouri
99. San Diego State University
100. University of Texas at El Paso
101. Villanova University
102. Wayne State University
103. Baylor University
104. Brandeis University
105. California Institute of Technology
106. Case Western Reserve University
107. City University of New York
108. Dartmouth College
109. Duke University
110. Georgetown University
111. Illinois Institute of Technology
112. Indiana University Bloomington
113. Indiana University-Purdue University--Indianapolis
114. Kansas State University
115. Medical University of South Carolina
116. Michigan Technological University
117. New York University
118. Rutgers University-New Brunswick
119. Temple University
120. Thomas Jefferson University
121. Syracuse University
122. University at Albany--SUNY
123. University of California, Irvine
124. The University of California, Los Angeles (UCLA)
125. University of Central Florida
126. University of Chicago
127. University of Colorado Denver
128. University of Delaware
129. University of Georgia
130. University of Kansas
131. University of Kentucky
132. University of Massachusetts Amherst
133. University of New Mexico
134. University of Pennsylvania
135. University of Pittsburgh
136. University of Rochester
137. Vanderbilt University
138. Virginia Commonwealth University
139. Virginia Tech
140. Yale University
141. Yeshiva University

 In the United Kingdom:

1. Cardiff University
2. University of Bath
3. University of Glasgow
4. Cranfield University
5. Imperial College London
6. King's College London
7. The University of Edinburgh
8. The University of Manchester
9. The University of Nottingham
10. The University of Sheffield
11. The University of Warwick
12. UCL (University College London)
13. University of Birmingham
14. University of Bristol
15. University of Cambridge
16. University of Leeds
17. University of Oxford
18. University of Southampton
19. Durham University
20. Queen Mary University of London
21. University of Exeter
22. Lancaster University
23. University of Leicester

In Taiwan:

1. National Cheng Kung University (NCKU)
2. National Taiwan University of Science and Technology (Taiwan Tech)
3. National Taiwan University (NTU)
4. National Tsing Hua University

In Switzerland:

1. EPFL (Ecole Polytechnique Fédérale de Lausanne)
2. ETH Zurich - Swiss Federal Institute of Technology ETH Zurich
3. University of Zurich

In Sweden:

1. Chalmers University of Technology
2. KTH Royal Institute of Technology
3. Lund University

In Spain:

1. Politecnica de Madrid
2. Universitat de Barcelona
3. Universitat Politecnica de Catalunya
4. Universitat Politecnica de Valencia

In South Korea:

1. KAIST - Korea Advanced Institute of Science & Technology
2. Korea University
3. Pohang University of Science And Technology (POSTECH)
4. Seoul National University
5. Sungkyunkwan University (SKKU)

In Singapore:

1. Nanyang Technological University, Singapore (NTU)
2. National University of Singapore (NUS)

In Russia:

1. Lomonosov Moscow State University.

In Portugal:

1. The University of Lisbon.

In Norway:

1. Norwegian University of Science And Technology.

In New Zealand:

1. The University of Auckland.

In the Netherlands:

1. Delft University of Technology
2. Eindhoven University of Technology
3. University of Amsterdam

In Malaysia:

1. Universiti Sains Malaysia (USM)
2. Universiti Teknologi Malaysia
3. University of Malaya

In Japan:

1. Kyoto University
2. Osaka University
3. The University of Tokyo
4. Tohoku University
5. Tokyo Institute of Technology

In Italy:

1. Alma Mater Studiorum - University of Bologna
2. Politecnico di Milano
3. Politecnico di Torino
4. Sapienza University of Rome

Israel:

1. Technion - Israel Institute of Technology.

Ireland:

1. Trinity College Dublin, The University of Dublin

Hong Kong:

1. City University of Hong Kong
2. The Chinese University of Hong Kong (CUHK)
3. The Hong Kong Polytechnic University
4. The Hong Kong University of Science and Technology (HKUST)
5. The University of Hong Kong

Greece:

1. National Technical University of Athens

Germany:

1. Friedrich-Alexander-Universitat Erlangen-Nürnberg
2. Humboldt-Universitat zu Berlin
3. KIT, Karlsruhe Institute of Technology
4. Ludwig-Maximilians-Universität München
5. RWTH Aachen University
6. Technische Universitat Berlin
7. Technische Universitat Darmstadt
8. Technische Universitat Dresden
9. Technische Universitat München
10. Universität Stuttgart

France:

1. Centrale Supelec
2. Institut Polytechnique de Grenoble - Grenoble Institute of Technology
3. Université Pierre et Marie Curie (UPMC)

Finland:

1. Aalto University

Denmark:

1. Aalborg University
2. Technical University of Denmark

China:

1. Beijing Institute of Technology
2. Fudan University
3. Harbin Institute of Technology
4. Peking University
5. Shanghai Jiao Tong University
6. Tsinghua University
7. University of Science and Technology of China
8. Xian Jiaotong University
9. Zhejiang University

Canada:

1. McGill University
2. McMaster University
3. Queen's University at Kingston
4. Universite de Montreal
5. University of Alberta
6. University of British Columbia
7. University of Toronto
8. University of Waterloo

Belgium:

1. Ghent University
2. KU Leuven

Austria:

1. Vienna University of Technology

Australia:

1. Curtin University
2. Monash University
3. Queensland University of Technology (QUT)
4. RMIT University
5. The Australian National University (ANU)
6. The University of Adelaide
7. The University of Melbourne
8. The University of New South Wales (UNSW Australia)
9. The University of Newcastle, Australia (UON)
10. The University of Queensland
11. The University of Sydney
12. The University of Western Australia
13. University of Technology Sydney
14. University of Wollongong

Prime Universities for Management programs:

United States:

1. Harvard University
2. Massachusetts Institute of Technology: Sloan
3. Stanford University
4. University of Pennsylvania: Wharton
5. University of Chicago: Booth
6. University of California at Berkeley: Haas
7. New York University: Stern
8. Columbia University
9. Yale University
10. University of Michigan: Ross
11. Northwestern University: Kellogg
12. Princeton University
13. Duke University: Fuqua
14. Cornell University: Johnson
15. UCLA ( University of California Los Angeles ): Anderson
16. University of Minnesota: Carlson
17. Arizona State University: Carey
18. Michigan State University: Broad
19. Pennsylvania State University: Smeal
20. University of Maryland: Smith
21. Indiana University: Kelley
22. University of California, San Diego
23. Ohio State University: Fisher
24. University of Southern California: Marshall
25. The University of Texas at Austin: McCombs
26. Texas A&M University--College Station
27. University of Washington: Foster
28. Washington University in St. Louis
29. Dartmouth College: Tuck
30. Boston University: Questrom
31. University of Wisconsin
32. The University of Illinois at Urbana-Champaign
33. University of North Carolina: Kenan-Flagler
34. Boston College: Carroll
35. Georgia Institute of Technology: Scheller
36. Rutgers - The State University of New Jersey, Newark--New Brunswick
37. Georgia State University
38. University of Virginia: Darden
39. Purdue University: Krannert
40. Carnegie Mellon University
41. The University of Texas at Dallas: Jindal
42. University of Arizona
43. University of California--Davis
44. University of Notre Dame: Mendoza
45. University of South Carolina: Moore
46. Babson College: Olin
47. Temple University: Fox
48. University of Florida
49. University of Georgia
50. Northeastern University
51. Georgetown University: McDonough
52. George Washington University
53. Florida State University
54. University of Colorado-Boulder
55. IU Kelley School of Business
56. The University of California at Irvine: Merage
57. University of Houston
58. Syracuse University
59. George Mason University
60. Vanderbilt University: Owen
61. University of Illinois-Chicago
62. University of Pittsburgh: Katz
63. University of Pittsburgh
64. Johns Hopkins University
65. Iowa State University
66. University of Massachusetts-Amherst
67. Virginia Tech
68. North Carolina State University-Raleigh
69. Drexel University
70. University of Alabama
71. Emory University: Goizueta
72. Rice University: Jones
73. Brigham Young University: Marriott
74. Washington University: Olin
75. University of Rochester: Simon
76. University of Iowa: Tippie
77. Southern Methodist University (SMU): Cox
78. California Institute of Technology (Caltech)
79. Brown University
80. The University of California, Santa Barbara (UCSB)
81. Case Western Reserve University
82. Tufts University
83. University of Miami
84. University at Buffalo SUNY
85. University of California, Riverside
86. The Katz School at Yeshiva University
87. Rensselaer Polytechnic Institute

United Kingdom:

1. London School of Economics and Political Science (LSE)
2. University of Oxford: Saïd
3. University of Cambridge: Judge
4. University of Warwick
5. Imperial College Business School
6. University College of London ( UCL )
7. University of Manchester
8. City University: Cass
9. The University of Nottingham
10. Lancaster University Management School
11. University of Leeds
12. Cardiff University
13. University of Bath
14. University of Edinburgh Business School
15. The University of Sheffield
16. University of Sheffield
17. University of York
18. University of Southampton
19. University of Strathclyde Business School
20. University of Birmingham
21. University of Glasgow
22. Durham University Business School
23. University of Exeter
24. Newcastle University
25. London Business School
26. Cranfield University
27. King's College London
28. University of Bristol
29. University of St Andrews

Switzerland:

1. University of Zurich
2. ETH Zurich – Swiss Federal Institute of Technology Zurich
3. University of St Gallen
4. IMD (International Institute of Mgmt. Development)

Spain:

1. University of Navarra
2. IE University
3. Ramon Lull University

South Korea:

1. Sungkyunkwan University GSB

Singapore:

1. National University of Singapore Business School
2. Nanyang Technological University
3. INSEAD Business School

Portugal:

1. The Lisbon MBA

Netherlands:

1. Rotterdam School of Management, Erasmus University

Italy:

1. Bocconi University

Ireland:

1. University College Dublin: Smurfit

Hong Kong:

1. Hong Kong University of Science and Technology (HKUST) Business School
2. Chinese University of Hong Kong (CUHK) Business School
3. University of Hong Kong

Germany:

1. Technical University of Munich
2. Mannheim Business School
3. Free University of Berlin
4. University of Freiburg
5. Goethe University Frankfurt
6. ESMT Berlin
7. Humboldt University of Berlin
8. RWTH Aachen University

France:

1. INSEAD Business School
2. HEC Paris (Ecole des Hautes Etudes Commerciales de Paris)
3. Edhec Business School
4. Grenoble Ecole de Management

China:

1. Peking University
2. Shanghai Jiao Tong University: Antai
3. China Europe International Business School (CEIBS)

Canada:

1. University of Toronto: Rotman
2. University of British Columbia
3. University of Alberta
4. York University
5. Western University: Ivey
6. McGill University
7. McMaster University
8. University of Montreal
9. University of Calgary
10. Queen's University: Smith

Belgium:

1. KU Leuven
2. Ghent University

Australia:

1. University of Melbourne
2. Monash University
3. University of New South Wales
4. University of Sydney
5. University of Queensland Australia
6. Australian National University
7. University of Western Australia
8. University of Adelaide
9. James Cook University
10. Macquarie Graduate School of Management
11. AGSM( Australian Graduate School of Management ) at UNSW Business School

Prime Universities for Medical programs:

United States:

1. Boston University
2. Brown University
3. Columbia University
4. Cornell University
5. Dartmouth College
6. Duke University
7. Emory University
8. Harvard University
9. Johns Hopkins University
10. New York University
11. Northwestern University
12. Ohio State University
13. Stanford University
14. Tufts University
15. University of California, Berkeley
16. University of California, Davis
17. University of California, Los Angeles
18. University of California, San Diego
19. University of Chicago
20. University of Florida
21. University of Michigan
22. University of Minnesota
23. The University of North Carolina at Chapel Hill
24. University of Pennsylvania
25. University of Pittsburgh
26. University of Southern California
27. The University of Texas at Austin
28. University of Washington
29. University of Wisconsin-Madison
30. Vanderbilt University
31. Washington University in St Louis
32. Yale University

United Kingdom:

1. Cardiff University
2. Imperial College London
3. King’s College London
4. London School of Hygiene & Tropical Medicine
5. Queen Mary University of London
6. UCL
7. University of Bristol
8. University of Cambridge
9. University of Dundee
10. University of Edinburgh
11. University of Glasgow
12. University of Leicester
13. University of Liverpool
14. University of Manchester
15. University of Nottingham
16. University of Oxford
17. University of Southampton

Taiwan:

1. National Taiwan University

Switzerland:

1. University of Basel
2. University of Bern
3. University of Zurich

Sweden:

1. Karolinska Institute
2. Lund University
3. Uppsala University

Spain:

1. Autonomous University of Barcelona

South Korea:

1. Seoul National University
2. Sungkyunkwan University (SKKU)

South Africa:

1. University of Cape Town

Singapore:

1. National University of Singapore

New Zealand:

1. University of Auckland

Netherlands:

1. Erasmus University Rotterdam
2. Leiden University
3. Maastricht University
4. University of Amsterdam
5. University of Groninge