University of Manchester
United Kingdom
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| Interest Rate | Starts at 8.70% |
| Loan Amount (Collateral) | Upto ₹150 Lac |
| Loan Amount (Without Collateral) | Upto ₹7.5 Lac |
| Processing Fees | starts 1% |
| Processing Time | 15 working days |
| Loan Tenure | up to 15 years |
| Margin | 90% Funding |
| Prepayment Charges | Zero |
| Moratorium Period | Course + 1 year |
| Admit Letter | Required |
| Tax Benefits | Yes |
| Type | Bank |
Bank of Baroda has launched a dedicated scheme for Study Abroad aspirants and named it the 'Baroda Scholar' scheme. Under this scheme, they provide a Secured Education Loan of up to Rs 1.5 Crore for Premier, up to ₹60 Lacs for Non-Premier Institutes and an Unsecured Loan of up to ₹7.5 lakhs for Study in Top Universities Worldwide. The floating interest rate for the Bank of Baroda Education Loan starts at 8.70% and increases to 12.70%. Likewise, other Banks and NBFCs are providing a Moratorium period of the course duration plus one year's grace period and a Loan tenure of 15 years.
Bank of Baroda has a list of Top World Ranking Universities and terms them as Premier. They provide preference to students who have received admission in Premier Universities. They benefit from lower interest rates and a faster application process. The 'Baroda Scholar' scheme applies to a wide range of Educational Courses above the 12th Level. This includes Bachelor's, UG Diplomas, Master's, PG Diplomas, PG Certificates, and professional courses, providing a comprehensive financial solution for various educational pursuits.
Currently, the Bank of Baroda offers a maximum of ₹7.5 lakhs for an unsecured education loan, and requires collateral for higher amounts exceeding this limit. This means that the Bank of Baroda is a considerable option for Study Abroad Aspirants with tangible security, such as a house, Shop, or Building, providing you with a sense of security and confidence in your financial decisions.
| Unsecured Loan Amount | Premier | ₹7.5 Lacs |
|---|---|---|
| Non-Premier | ₹7.5 Lacs | |
| Secured Loan Amount | Premier | ₹1.5 Crore |
| Non-Premier | ₹60 Lacs | |
| Interest Rate | 8.70% - 12.70% | |
| Moratorium Period | Course Duration + 1 year | |
| Applicable For | All Courses | |
| Loan Tenure | 15 yrs + Course Duration + 1 year | |
Here is the basic Eligiblity Criteria for Study Abroad Education Loan by Bank of Baroda.
The Bank of Baroda (BOB) covers nearly all expenses expected while studying abroad under Baroda Scholar Education Loan Scheme
The Term-Life Insurance cost is included in the Sanctioned Amount and will be deducted from the Disbursed Loan amount.
Here is the list of basic charges involved in Bank of Baroda Study Abroad Education Loan
| Description | Charges & Fees |
|---|---|
| Processing Fees | 1% upto ₹10,000 (Refundable*) |
| VLP | ₹100 + GST |
| Life Insurance | Varies |
| Legal & Technical | ₹8500 |
*Charges may vary
The Bank of Baroda charges a processing fee of 1% of the Sanctioned Loan amount up to a maximum of Rs 10,000. It is fully refundable on the first disbursement in case of Premier Universities. If you did not take the disbursement for any reason, the processing fees are Non-Refundable.
| Loan Amount | Charges |
|---|---|
| up to ₹7.5 Lacs | NIL |
| more than ₹7.5 Lacs | 1% upto ₹10,000 (Refundable on First Disbursement for Premier Univerisities) |
The Bank of Baroda has a margin policy of 10% for Study Abroad Education Loans under the Baroda Scholar Scheme. So, you have to pay 10% of the total cost of Education. If the student has a Scholarship awarded by the University or any organisation, it will be counted in the margin from the student's side. The margin needs to be brought on a year-on-year basis or at the time of disbursement on a pro-rata basis.
For Example, the total cost of Education, including Tuition Fees, Living, and Travelling Expenses, is Rs 50 Lacs. The bank will approve a maximum of Rs 45 Lacs, with the student or co-borrower covering the remaining Rs 5 Lacs.
| University Type | Loan Amount | Margin Money |
|---|---|---|
| Premier Universities | up to ₹4 Lacs | NIL |
| between ₹4 Lacs & ₹7.5 Lacs | 15% | |
| more than ₹7.5 Lacs | NIL | |
| Non-Premier Universities | up to ₹4 Lacs | NIL |
| between ₹4 Lacs & ₹7.5 Lacs | 15% | |
| more than ₹7.5 Lacs | 10% |
The Bank of Baroda has divided the Universities into Premier and Non-Premier categories based on their World Rankings. So, the Premier universities get the benefit of a Lower Interest Rate compared to Non-Premier. The interest rate of Bank of Baroda for Study Abroad Universities is 8.70% for Premier Universities and 10.15% for Non-Premier Universities.
Premier Universities
| Countries | Amount | Floating | Fixed |
|---|---|---|---|
| All Countries excluding Canada | up to ₹7.5 Lacs | 8.70% | 11.40% |
| Above ₹7.5 Lacs | 8.70% | 10.70% | |
| Canada | up to ₹7.5 Lacs | 8.70% | 11.40% |
| Above ₹7.5 Lacs | 8.70% | 10.70% |
*(As of 1st July 2025)
Non-Premier Universities
| Countries | Amount | Floating | Fixed |
|---|---|---|---|
| All Countries excluding Canada | up to ₹7.5 Lacs | 10.15% | 11.40% |
| Above ₹7.5 Lacs | 9.20% | 11.20% | |
| Canada | up to ₹7.5 Lacs | 10.15% | 11.40% |
| Above ₹7.5 Lacs | 10.70% | 12.70% |
*(As of 1st July 2025)
Concession for Female Students
Female students are eligible for a 0.20% concession in the Floating and Fixed Interest Rate for Non-Premier Universities. However, there are no further concessions for Premier Universities.
The Bank of Baroda has classified universities into Premier categories based on their World Rankings and post-graduation job opportunities. The eligible universities vary across different Course Types, including Management, STEM, Medical, and Others. So, there is a possibility that a particular University is classified in the STEM Category and not available in the Medical category.
Management Courses
| Countries | Total Institutions | List |
|---|---|---|
| USA, UK, Australia, Switzerland, Spain, South Korea, Singapore, Portugal, Netherlands, Italy, Ireland, Hong Kong, Germany, France, China, Canada, Belgium | 171 | View / Dowload |
Note: In cases, where the Institution/University has more than 1 campus either within the Country or different Countries, all centres/campuses to be treated at par with main campus.
STEM courses (Science, Technology, Engineering and Mathematics)
| Countries | Total Institutions | List |
|---|---|---|
| USA, UK, Taiwan, Switzerland, Sweden, Spain, South Korea, Singapore, Russia, Portugal, Norway, New Zealand, Netherlands, Malaysia, Japan, Italy, Israel, Ireland, Hong Kong, Greece, Germany, France, Finland, Denmark, China, Canada, Belgium, Australia | 264 | View / Dowload |
Note: In cases, where the Institution/University has more than 1 campus either within the Country or different Countries, all centres/campuses to be treated at par with main campus.
Medical Courses
| Countries | Total Institutions | List |
|---|---|---|
| USA, UK, Taiwan, Switzerland, Sweden, Spain, South Korea, South Africa, Singapore, New Zealand, Netherlands, Japan, Hong Kong, Germany, France, Denmark, China, Canada, Belgium, Australia, Tanzania | 100 | View / Dowload |
Note: In cases, where the Institution/University has more than 1 campus either within the Country or different Countries, all centres/campuses to be treated at par with main campus.
Other Courses (Law, Economics, Econometrics, Art, Performing Arts and Design Courses)
| Countries | Total Institutions | List |
|---|---|---|
| USA, UK, Switzerland, Singapore, Hong Kong, China, Canada, Australia | 40 | View / Dowload |
Note: In cases, where the Institution/University has more than 1 campus either within the Country or different Countries, all centres/campuses to be treated at par with main campus.
The Bank of Baroda requires a security for all Study Abroad Education Loans above ₹7.5 Lacs. Here is a representation of the Collateral Value considered by Baroda Bank.
| Up to ₹4 Lacs | No Security Required |
|---|---|
| Between ₹4 Lacs & ₹7.5 Lacs | No Security Required |
| Between ₹7.5 Lacs & ₹80 Lacs | Tangible collateral security equal to 100% of the loan amount along with assignment of future income |
| Above ₹80 Lacs | Total security coverage should be 1.25 times of the loan amount along with assignment of future income |
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
Check Eligibility For FreeWhen applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by Bank of Baroda without any additional charge to students.
Here is the standard document checklist for getting an education loan from Bank of Baroda or other lenders. The bank or NBFC might ask for additional documents or information based on the application to ease the process.
The Education Loan documents may vary based on individual applications. If you are missing any required documents, please contact our Loan Expert for help!
Start by checking your eligibility on Abroad Cube's website or reach out to us via WhatsApp or phone. The Eligibility criteria include Country acceptance, University and course ranking, Academics, Credit Score and history, co-applicant and Collateral requirements, etc.
Once you pass the basic Eligibility Criteria, the next step will be Documentation. Our Education Loan Expert will send you a personalized Document Checklist of Bank of Baroda and help you arrange, sort and suggest alternatives, if any. Before sending documents to the Bank of Baroda, we ensure that all documents are in order according to the required Checklist to expedite the application login process.
Our Education Loan Expert will choose the best lenders from the pool of 12+ options to get you the best-suited deal. They will follow up with concerned Lender Relationship Managers for Application Login and further processing. The lender process will include getting consent, address verification, and a small telephonic interview with the Credit Manager before the final decision.
The sanction letter will be released within 24 hours once you pay the processing fee to the Bank via acceptable payment methods. Afterwards, you may proceed with the Study Visa process or request Pre-Visa disbursement. You can also ask for reimbursement if you have already paid the Tuition Fees or Living Expenses via other means. Once you complete the banking formalities, the loan amount will be disbursed into the Bank Account
You may apply for Bank of Baroda Education Loan by visiting their local bank branch or contacting their customer support team. But Abroad Cube will help you get a hassle-free Education Loan from your comfort at the best Interest Rate and record processing time at Zero Service Charges.
Abroad Cube is an Online Study Abroad Marketplace that has onboarded 12+ Banks and NBFCs to ease the process of getting the best deal for an Education Loan in minimal processing time. To get started, Check your Eligibility and share your Documents by Email or WhatsApp to expedite your application process.
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