Bank Of Baroda

Check list for Educational loan

Advance Department- Ghatkopar East 6/8/2012

CHECK LIST FOR EDUCATIONAL LOAN

DOCUMENTS REQUIRED Application Form duly filled and signed in by the Applicant. Two Passport Size Photograph. Proof of Identification: Voter ID Driving Licence Passport PAN card Proof of Address: Voter ID Electricity bill Telephone bill Passport Age Proof of the Applicant Proof of admission to the course for which the loan is being applied Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned. Mark sheets of the last qualifying examination for school and graduate. Letter of Confirming Scholarship, if any, Copy of Passport/Visa, cost of air fare (documentary detail) in case of studies abroad.

 Guardians/Guarantors Form 135 with supporting documents Income proof/latest income tax return of parents/coobligants, guarantors. (if any) Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months. Details of Assets & Liabilities of parents. In case loan amount is above Rs.4.00 lacs : *. Particulars of Guarantors and details of their Assets & Liabilities. Documentation for securities like mortgage in name of of

property/NSC/KVP/FDR/LIC guarantor.

standing

If immovable property offered as Collateral Security - copy of Title Deed, Valuation Certificate of Govt approved valuer and Non-encumbrance Certificate from approved Lawyer of the Bank. Affidavit that no loans have been availed from other banks in the applicants name. NOTE: # Upto Rs.4.00 lacs No security # *. Guarantor is required only for educational loans exceeding Rs. 4 lacs. # Collateral Security is required only for Educational Loan exceeding Rs.7.50 lacs.

INTEREST SUBSIDY FOR EDUCATIONAL LOAN

Course fee (all inclusive) may exceed Rs. 10 lacs but subsidy amount will be calculated only upto loan amount of Rs. 10 lacs. Government of India will provide full interest subsidy during the moratorium period on loans taken by students from the Bank. For loans sanctioned prior to 01.04.2009, only interst on the amount disbursed after 01.04.2009 are eligible.

After the moratorium period interest will be borne by student. Student should belong to Economically Weaker Section (not on social background) having parental family income from all sources not more than Rs. 4.5 lac per annum.

State Government will designate appropriate authority or authorities who are competent to issue Income certificate, based on economic index and not social background, for the purpose of this scheme.

Subsidy will be available only to students enrolled in recognized Technical / Professional courses (after XII) in India in Educational Institutions established by Acts of Parliament, other institutions recognized by the concerned Statutory Bodies, Indian Institutes of Management (IIMs) and other Institutions set up by the Central / State Government.

Interest rates charged on the loan shall be as per interest rates applicable under our Education Loan Scheme.

Interest subsidy shall be available to the eligible students only once, either for first undergraduate degree course or the post graduate degrees / diplomas in India. Interest subsidy shall, however, be admissible for integrated courses

(graduates + post graduates). Subsidy shall not be available if a student discontinues the course in midstream, expelled from Institutions on disciplinary or academic grounds.