Vijaya Bank Education Loan For Domestic and International Students 

In 2019, the Government of India merged Vijaya Bank and Dena Bank with Bank of Baroda. The decision to merge was published in the Gazette of India, came into effect on April 1, 2019. From this date, all Vijaya Bank and Dena Bank branches started functioning as Bank of Baroda branches. All education loan schemes previously offered under Vijaya Bank are now managed by Bank of Baroda. Any references to Vijaya Bank in this article refer to these schemes under Bank of Baroda post‑merger.

Customers and loan applicants of Vijaya Bank automatically became customers of Bank of Baroda, ensuring that education loan facilities remain available without any disruption. Let’s understand all about the Vijaya Bank Education Loan in this article.

Vijaya Bank Education Loan: An Overview

Students often face financial challenges while pursuing their academic goals, whether in India or abroad. Vijaya Bank (Bank of Baroda), ensures that financial limitations do not restrict access to quality education. These loans not only cover tuition and living expenses but also helps in extending support for skill-based and professional programs. 

Vijaya Bank Education Loan	Purpose of Loans
Baroda Medi Elite	For students pursuing medical education in India or abroad.
Pradhan Mantri Vidyalaxmi Scheme	Education loan scheme linked to the Vidya Lakshmi Portal for wider student access.
Baroda Digital Education Loan	For students opting for online or digital education programs.
Baroda Vidya	For school education from nursery to senior secondary level.
Baroda Education Loan to Students of Premier Institutions	Higher loan amounts and relaxed terms for premier Indian institutions.
Baroda Skill Loan Scheme	For vocational and skill development training.
Government of India Interest Subsidy Schemes for Education Loan	Subsidy on interest for eligible students during the moratorium period.
Vijaya Bank Education Loan for International Students	Financial support for studying abroad across various disciplines.
Vijaya Bank Education Loan: Baroda Scholar Scheme for Study Abroad	Tailored for higher studies at reputed universities abroad.
Baroda Gyan Education Loan	For higher education in recognised Indian institutions.
Baroda Education Loan for EDP Abroad	For working professionals joining executive development programs overseas.

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2025 Update on Bank of Baroda Education Loans

• Merger Update: All Vijaya Bank education loan schemes now operate under Bank of Baroda after the April 2019 merger. The brand “Vijaya Bank Education Loan” no longer exists separately.
• CSIS Scheme: The Central Sector Interest Subsidy Scheme (CSIS) continues under BoB, providing full interest subsidy during the moratorium period for students from Economically Weaker Sections (EWS). Maximum loan eligible for full subsidy: ₹7.5 lakh (for loans sanctioned from FY 2018–19 onwards).
• PM‑Vidyalaxmi Scheme: Introduced for meritorious students in Quality Higher Educational Institutions (QHEIs), offering collateral‑free and interest‑subsidised loans. Annual family income eligibility extends up to ₹8 lakh.
• Collateral‑Free Loans: Many BoB loan products (e.g., Baroda Gyan, Baroda Scholar) remain collateral‑free up to ₹7.5 lakh, improving accessibility for students without assets.
• Interest Rate Updates: Interest rates are floating and linked to BRLLR/base rate; check the BoB website for the latest applicable rates and concessions for female students, medical courses, or defense personnel wards.
• Important Note: Always verify current loan amounts, interest rates, and eligibility criteria on the official Bank of Baroda website before applying.

Vijaya Bank Education Loan For Domestic Students 

Fulfilling one’s dream to study higher education comes with challenges. Some of these challenges include tuition fees, hostel charges, and study materials. The Vijaya Bank Education Loan for Domestic Students is designed to ease this burden by offering financial support for students studying at recognised schools, colleges, and universities across the country. 

These loans cover essential academic expenses and provide flexible repayment options, making quality education more accessible for aspiring students.

1. Baroda Medi Elite Loan

The Baroda Medi Elite scheme is designed to support medical students in India who have secured admission through NEET. It offers collateral-free financing for undergraduate and postgraduate medical studies with flexible repayment options. Students benefit from competitive interest rates, no processing charges, and income tax deductions under Section 80E. The scheme ensures that aspiring doctors can focus on their studies without financial stress.

Eligibility for Baroda Medi Elite	Indian nationals who have secured NEET ranking of up to 65,000 for UG courses and up to 30,000 for PG courses. Must be enrolled in a full-time medical program in India.
Course Coverage	Full-time undergraduate and postgraduate medical courses in India.
Loan Amount	Up to INR 40 lakhs (collateral-free).
Interest Rate	– Premier Institutions (AA): BRLLR – 0.70% = 7.45% – Premier Institutions (A): BRLLR – 0.50% = 7.65% – Other Institutions: BRLLR = 8.15%
Charges	Nil processing fees.
Repayment Period	Up to 15 years after the moratorium (course duration + 1 year).
Moratorium	Course period + 1 year. Simple interest applicable; payment during moratorium is optional.
Additional Benefits	Income Tax benefit under Section 80E.
Special Provisions	No specific concession for girl students under this scheme. In case of non-compliance with conditions or failure to clear a semester, concessional rates will be withdrawn and Baroda Gyan rates will apply.
Other Notes	The bank may use agents for sales or marketing of this product.

2. Pradhan Mantri Vidyalaxmi Scheme

The Pradhan Mantri Vidyalaxmi Scheme is offered through Bank of Baroda, is designed to support meritorious students who secure admission in the top 860 Quality Higher Educational Institutions (QHEIs) in India. The scheme offers 100% financing, no security requirement, and special interest subsidies, making higher education more accessible for students from all income groups. With flexible repayment options and government-backed benefits, this scheme reduces financial stress for families while encouraging students to pursue quality education.

Eligibility Courses for Pradhan Mantri Vidyalaxmi Scheme	All graduation, post-graduation, degree, and diploma programs offered by 860 QHEIs listed under the scheme.
Eligibility Students	Indian nationals from all income groups who secure admission in QHEIs.
Finance Coverage	100% finance (no maximum cap).
Loan Amount	– Up to INR 7.5 lakhs covered with 75% credit guarantee by Govt. of India. – Interest subsidy available up to INR 10 lakhs.
Security	Nil.
Interest Rates	– Top 10 IIMs & IITs: BRLLR – 1.05% = 7.10%- AA Category Institutions: BRLLR – 0.70% = 7.45% – A Category Institutions: BRLLR – 0.50% = 7.65% – B Category Institutions: BRLLR + 0.00% = 8.15% – C Category Institutions: BRLLR + 0.50% = 8.65%
Charges	Nil processing fees.
Repayment Holiday	Course duration + 1 year.
Repayment Period	Up to 15 years after moratorium.
Insurance	Group Credit Life Insurance mandatory for loans above INR 7.5 lakhs. Premium may be added to project cost or covered by student’s own term plan from any IRDA-approved insurer.
Additional Benefits	– Students with annual family income up to INR 4.5 lakhs get 100% interest subvention under PM-USP CSIS. – Students with annual family income between INR 4.5 – INR 8 lakhs get 3% interest concession.
Financing Branch	Branch near the student’s institution, permanent residence, or parents workplace.

3. Baroda Digital Education Loan

The Baroda Digital Education Loan is designed to make financing education faster and easier through a fully digital process. Students admitted to reputed institutions in India can apply online without the hassle of physical paperwork. This loan requires no collateral for premier institutes, carries no processing charges, offers flexible repayment options, and includes a moratorium covering the course period plus one year. The scheme ensures that financial constraints do not limit a student’s career goals.

Eligibility for Students  for Baroda Digital Education Loan	Indian students are admitted to full-time courses in premier institutes within India.
Age of the Peers	Student: Up to 40 years.Co-applicant: 21–58 years (salaried) / 21–65 years (non-salaried).
Expenses Covered	– Tuition and institutional fees (college, university, school, hostel). – Examination, library, and lab fees.- Hostel charges.- Purchase of books, equipment, instruments, uniforms. – Deposits like building fund, caution deposit (with receipts). – Insurance premium for student.- Study tours, projects, thesis work. –  External coaching/tuition not covered.
Loan Amount & Repayment	– Loans up to INR 7.5 lakhs: Moratorium + max 120 EMIs. – Loans above INR 7.5 lakhs: Moratorium + max 180 EMIs.
Moratorium	Course period + 1 year.
Interest Rate	Attractive rates (varies with institution).
Collateral	Not required for premier institutes.
Charges	– Nil processing charges. – No prepayment penalty.
Special Provision	For select premier institutes, co-applicant requirement may be waived.

Documents Required for Baroda Digital Education Loan

To complete the application process smoothly, students must keep the necessary paperwork ready. The following documents are required for the Baroda Digital Education Loan:

• The student must provide a valid PAN card and Aadhaar card, as both are mandatory.
• The admission letter issued by the institute, along with detailed fee information, is mandatory.
• The student must submit the mark sheet of the last examination passed.
• If any payment has already been made to the institute, valid proof of payment should also be provided.

For Co-applicant (if applicable):

• The co-applicant must submit a valid PAN card and Aadhaar card, as these are mandatory documents.
• A bank statement of the last six months, digitally generated, must be provided by the co-applicant.
• In the case of non-salaried co-applicants, the Income Tax Return (ITR-3 or ITR-4) for the past two years, digitally generated from the IT portal, is required.

4. Baroda Vidya Education Loan

The Baroda Vidya scheme, now offered under Bank of Baroda after the amalgamation with Vijaya Bank, is designed to help parents finance their child’s school education from nursery to class XII. With no processing charges, no security requirements, and easy repayment in 12 installments, this loan ensures that school fees and related expenses are managed without financial stress.

Target Group for Baroda Vidya Loans	Parents of students enrolled in accredited schools, high schools, or junior colleges in India.
Eligible Courses	– Stage I: Nursery to Class V – Stage II: Class VI to VIII – Stage III: Class IX to XII- Evening courses approved by State/Central Govt.
Loan Amount	Up to INR 4 lakhs.
Repayment	In 12 installments after disbursement.
Security	Not required.
Processing Charges	Nil.
Documentation Charges	Nil.
Margin	Nil.
Interest Rate	– BRLLR + SP + 5.10% = 13.50%- 0.50% concession for female students. – Penal interest @ 2% on overdue if loan exceeds INR 2 lakhs.
Special Notes	– Interest must be serviced during moratorium.- Lump sum of INR 8,500 per property for advocate/valuer charges (if property is mortgaged). – No mortgage creation charges. – Prepayment charges: Nil if paid from borrower’s own funds; 0.50% if loan is taken over by another lender.

Documents Required for Baroda Vidya Education Loan

To complete the application process smoothly, students must keep the necessary paperwork ready. The following documents are required for the Baroda Vidya Education Loan:

• The student must provide valid KYC documents for identification.
• Academic records of the student must be submitted to verify eligibility.
• An admission letter or proof of admission from the school or junior college is mandatory.
• If applicable, the student must provide entrance exam results.
• A detailed statement of the cost of study or fee structure from the institution must be submitted.

5. Baroda Education Loan to Students of Premier Institutions

The Baroda Education Loan to Students of Premier Institutions is designed for Indian students who secure admission into India’s top institutes such as IITs, IIMs, and other premier colleges categorised under AA, A, B, and C by Bank of Baroda. This scheme offers collateral-free loans up to INR 40 lakhs, 100% financing, nil processing charges, and flexible repayment up to 15 years. Students also benefit from digital loan facilities, free debit cards, and tax deductions under Section 80E.

Eligibility	Indian nationals who have secured admission to full-time regular professional/technical courses in premier institutions (List AA, A, B & C). Admission must be through entrance exams/merit-based selection.
Courses Covered	Full-time regular courses conducted by listed premier educational institutions in India.
Loan Amount	Collateral-free loan up to INR 40 lakhs; higher loan amounts may require security.
Benefits	– No processing charges- Free debit card- 100% finance- Digital education loan facility- Repayment period up to 15 years after moratorium (Course + 12 months)- Income tax benefit under Section 80E- Special offer for students of Army personnel
Interest Rates (Floating)	– Top 10 IIMs & IITs: 7.10% (BRLLR – 1.05%) – AA category: 7.45% (BRLLR – 0.70%) – A category: 7.65% (BRLLR – 0.50%) – B category: 8.15% (BRLLR + 0.00%) – C category: 8.65% (BRLLR + 0.50%)
Interest Rates (Fixed)	– AA & A category: 9.55% – 10.15% (BRLLR + 1.40% to 2.00% )- B category: Up to INR 7.5 lakhs: 11.40% (Base Rate + 2.00%); Above INR 7.5 lakhs: 11.00% (BRLLR + 2.85%) – C category: Up to INR 7.5 lakhs: 11.40% (Base Rate + 2.00%); Above INR 7.5 lakhs: 11.20% (BRLLR + 3.05%)- Concession of 0.20% if 100% security provided
Special Notes	– No concession for female students under this scheme – Simple interest charged during moratorium- Penal charges of 2% p.a. on overdue if loan > INR 4 lakhs – Accrued interest during moratorium added to principal for EMI calculation
Documents Required	– KYC of applicant and co-applicants – Academic records- Proof of admission- Entrance exam results (if applicable) – Fee structure/schedule of expenses- Income proof of co-applicant/guarantor – Last 6 months’ bank statements – Property documents (if applicable)

Also Read: ICICI Bank Personal Loan: Features, Eligibility, Rates & Process

6. Baroda Skill Loan Scheme for Education

The Baroda Skill Loan Scheme is designed for students who want to pursue technical and vocational training programs. It helps cover the cost of courses at ITIs, polytechnics, training partners under NSDC, or other recognised institutions. The loan amount ranges between INR 5,000 and INR 1,50,000, making it suitable for short-term as well as longer-duration skill development programs.

Since it comes with no processing charges, no margin, and no security requirements, it provides easy access to financial support for students aiming to build employable skills.

Baroda Skill Loan Scheme Requirements

To help students clearly understand the eligibility and conditions, the Baroda Skill Loan Scheme has specific requirements that applicants must meet before applying.

• The applicant must be an Indian national in order to be eligible for this loan scheme.
• The student must be enrolled in recognised institutions such as ITIs, Polytechnics, NSDC partner institutes, State Skill Missions, colleges affiliated with universities, or schools under Central or State Boards.
• The scheme covers courses aligned to the National Skill Qualification Framework (NSQF) with durations ranging from two months to three years, as well as vocational and skill development programs approved by the Government of India or NSDC.
• The student must meet the minimum academic qualifications as specified by the training institute offering the course.
• There is no restriction on the minimum age of the applicant. However, if the student is a minor, the parent or guardian must sign the loan documents until the student attains majority.
• The applicant must provide Aadhaar along with other valid identity and address proof documents to fulfil the KYC requirements.

Baroda Skill Loan Scheme: Interest Rates & Charges

The Baroda Skill Loan Scheme is designed to keep education affordable by offering loans at reasonable interest rates with minimal charges. Students and their families can benefit from the following:

Amount of Loan	Repo Rate + Spread	Effective Rate of Interest	Special Benefits
Up to INR7.50 lakh	Base Rate + 1.50%	10.90%	0.50% concession for girl students
Above INR7.50 lakh	BRLLR + 3.50%	11.65%	Additional 0.10% risk premium if insurance cover not taken
Servicing of interest	Optional during study & moratorium period	–	–
Prepayment charges	Nil (own source) / 0.50% if taken over by other lender	–	–
Processing/documentation	Nil	–	–

Baroda Skill Loan Scheme: Documents Required

To ensure a smooth application process, students are required to submit specific documents while applying for the Baroda Skill Loan Scheme. The following paperwork must be prepared:

• The applicant and co-applicant must provide valid KYC documents, including proof of identity and proof of address.
• The student is required to submit academic records to verify their previous qualifications.
• Proof of admission issued by the training institute must be submitted at the time of application.
• If the course requires an entrance examination, the results of the exam must also be provided.
• A detailed statement of the cost of study or the schedule of expenses should be included to establish the financial requirement.
• The co-applicant or guarantor, if applicable, must provide valid income proof to support the loan application.
• The latest six months’ bank statements of the co-applicant or guarantor must be furnished as part of financial verification.
• If property documents are applicable for the loan application, they should also be submitted.

7. Government of India Interest Subsidy Schemes for Education Loan

The Government of India Interest Subsidy Scheme is designed to support students from economically weaker sections who wish to pursue technical and professional education in India. The scheme helps by covering the interest during the moratorium period, making education loans more affordable and reducing the immediate financial burden on families.

Important Benefits of the Government of India Interest Subsidy Schemes for Education Loan

• Full interest subsidy during the moratorium period (course duration + 1 year).
• Available only once, for the first undergraduate degree or postgraduate program in India.
• Covers professional and technical courses recognised by UGC, AICTE, IIMs, and other statutory bodies.

Name of Scheme	Central Sector Interest Subsidy Scheme (CSIS)
Introduced	FY 2009–10
Objective	To provide full interest subsidy during the moratorium period for eligible students.
Applicable Courses	Technical/Professional courses (after Class XII) in recognized institutions in India.
Institutions Covered	NAAC accredited institutions, NBA accredited programs, INIs, and CFTIs. Courses requiring statutory approval (Medical Council, Nursing Council, Bar Council, etc.) are also covered.
Eligibility	Students belonging to Economically Weaker Section (EWS).
Income Criteria	Total annual parental/family income up to INR 4.5 lakh.
Loan Amount Covered	Up to INR 7.5 lakh (for loans sanctioned from FY 2018–19 onwards).
Security	Not required for loans covered under this subsidy scheme.
Subsidy Period	Course duration + 1 year (moratorium).
Disqualification	Not available if the student discontinues or is expelled on disciplinary/academic grounds.
Authority for Income Certificate	Issued by competent State/UT authority. Required only once at the time of sanction.
Aadhaar Requirement	Aadhaar number and authentication mandatory.

Interest Rates & Charges (Applicable under Vijaya Bank Education Loan Schemes)

Before applying, students must be aware of the financial commitments involved in repayment. The following interest rates and charges are applicable under the loan schemes to ensure clarity and transparency for applicants.

Vijaya Bank Education Loan Product	Slab of Loans	Effective Interest Rate
Baroda Vidya	Up to INR 4 lakh	11.50% (BRLLR + SP + 3.10%)
Baroda Gyan	Up to INR 7.5 lakh	10.15% (BRLLR + 2.00%)
	Above INR 7.5 lakh	10.05% (BRLLR + 1.90%)
Baroda Scholar (Non-Premier Institutes)	Up to INR 7.5 lakh	10.15% (BRLLR + 2.00%)
	Above INR 7.5 lakh	9.20% (BRLLR + 1.05%)
Baroda Skill Loan	Up to INR 1.5 lakh	9.65% (BRLLR + 1.50%)
Concessions	0.50% concession for girl students, and additional 0.50% for MBBS/BDS/MS/MD/MDS students (except Ayurveda & Homeopathy).

Documents Required for Students

To make the loan application process simple and hassle-free, students must prepare the required documents in advance. The following documents are important:

• The student and co-applicant must provide valid KYC documents for identity and address verification.
• Academic records of the student, along with the official admission letter from the institution, must be submitted.
• Entrance exam results should be provided wherever applicable.
• A detailed statement of the cost of study or the fee structure issued by the institution must be included.
• If the co-applicant or guarantor is salaried, valid income proof must be furnished.
• The last six months’ bank account statements are required for financial assessment.
• An income certificate from a competent authority is mandatory to establish eligibility.
• The Aadhaar card of the applicant must be submitted for authentication.
• Property documents must be provided if applicable to the loan scheme.

Vijaya Bank Education Loan For International Students 

Studying abroad requires significant financial planning, and Vijaya Bank Education Loan (Bank of Baroda) provides dedicated loan schemes to ensure students can pursue global education without financial stress. These loans cover tuition, travel, living costs, and other academic expenses, making international education more accessible.

Vijaya Bank Education Loan Scheme To Study Abroad	Purpose of International Loan
Vijaya Bank Education Loan: Baroda Scholar Scheme for Study Abroad	For students pursuing higher studies at reputed universities abroad.
Baroda Gyan Education Loan	Designed for graduate and postgraduate education in recognized institutions overseas.
Baroda Education Loan for EDP Abroad	Supports working professionals enrolling in executive development programs offered by premier institutions abroad.
Higher Education and Skill Development Guarantee Scheme for Pursuing Higher Studies Abroad	Provides financial support for students undertaking advanced education or specialized skill development programs abroad.

1. Baroda Scholar Scheme for Study Abroad

The Baroda Scholar scheme, now offered under Bank of Baroda after the amalgamation with Vijaya Bank, is specially designed for students aspiring to pursue higher education abroad. It covers job-oriented professional and technical courses such as MBA, MCA, MS, and globally recognised certifications. The scheme provides financial assistance with competitive interest rates, no processing charges up to a certain limit, and flexible repayment options. Students benefit from reduced charges, free debit cards, and concessions for female applicants studying at non-premier institutions.

Eligible Courses	– Graduation in professional/technical fields.- Post-graduation (MBA, MCA, MS). – International certifications such as CIMA (London), CPA (USA). – Specialised courses like aeronautical, pilot training, and shipping provided recognised by relevant Indian/foreign authorities. – Courses in management, STEM, medical, law, economics, arts, performing arts, and design at premier global institutions.
Student Eligibility	Must be an Indian national with admission secured abroad through an entrance exam or merit-based selection.
Loan Amount	As per course and institution (different interest rate slabs apply for premier and non-premier institutions).
Security	No collateral required up to INR 7.5 lakhs.
Processing Charges	– No processing charge up to INR 7.5 lakhs. – 1% (max INR 10,000) for loans above INR 7.5 lakhs. Refunded at first disbursement for premier institutions.
Other Benefits	– No documentation charges. – Free debit card. – No margin on loans up to INR 4 lakhs.

2. Baroda Scholar Vijaya Bank Education Loan: Interest Rates

The following table outlines Baroda Scholar loan interest rates across various institutions, loan amounts, and special concessions for eligible students.

Institution Type	Loan Slab	Effective Rate of Interest
Premier Institutions Abroad (incl. Canada)	All loans	BRLLR + 0.55% = 8.70%
Non-Premier Institutions Abroad	Up to INR7.5 lakhs	BRLLR + 2.00% = 10.15%
Non-Premier Institutions Abroad	Above INR 7.5 lakhs	BRLLR + 1.05% = 9.20%
Canada (Non-Premier Institutions)	Above INR 7.5 lakhs	BRLLR + 2.55% = 10.70%
Special: Children of Defence Personnel (Baroda Yodha Scheme)	Abroad	BRLLR + 1.05% = 9.20%
Concessions	Girl students at non-premier institutions get 0.20% concession. No concession at premier institutions.

3. Baroda Gyan Education Loan

The Baroda Gyan scheme by Bank of Baroda supports students pursuing higher education within India. It covers graduate, postgraduate, professional, and specialised programs offered by recognised universities and institutions. The scheme provides up to INR 7.5 lakhs without collateral, offers interest concessions for female students, and ensures repayment begins only after course completion, making it a student-friendly choice for financing higher studies.

Target Group	Students pursuing graduation, post-graduation, professional, and recognized higher education courses in India
Eligible Courses	Graduation, Post-graduation, Engineering, Medical, Agriculture, Law, Management, Architecture, Computer Applications, ICWA, CA, CFA, IIM/IIT/IISc/XLRI/NIFT, Computer certificate courses (DOE/recognized), Aeronautical/Pilot/Shipping (approved by DGCA/Shipping), Teachers’ Training, Nursing, B.Ed., and courses by reputed foreign universities in India
Loan Amount	Up to INR 7.5 lakhs without collateral; higher amounts with security
Repayment	After course + moratorium (course period + 1 year or 6 months after job). Interest during study period added to principal
Security	No security up to INR 7.5 lakhs; tangible collateral required above INR 7.5 lakhs
Processing Charges	Nil up to INR 7.5 lakhs; 1% of loan amount (max INR 10,000) above INR 7.5 lakhs
Documentation Charges	Nil; INR 8,500 per property for advocate/valuer charges (if mortgaged)
Margin	Nil up to INR 4 lakhs; 5% for loans above INR 4 lakhs
Interest Rate	– Up to INR 7.5 lakhs: BRLLR + 2.00% = 10.15% – Above INR 7.5 lakhs: BRLLR + 1.90% = 10.05% – Concessions: 0.50% for female students, 0.50% for MBBS/BDS/MS/MD/MDS, and 9.25% for defence personnel wards (Baroda Yodha Scheme)
Special Notes	Interest payable during moratorium, 0.10% risk premium if no insurance above INR 7.5 lakhs, no mortgage creation charges, prepayment: Nil (own funds) / 0.50% (takeover), penal interest @2% if loan > INR 2 lakhs overdue
Documents Required	KYC of applicant and co-applicant(s), academic records, admission proof, entrance exam results (if applicable), cost of study/fee structure, income proof of co-applicant/guarantor, last 6 months’ bank statements, property documents (if applicable)

4. Higher Education and Skill Development Guarantee Scheme

The Central Sector Interest Subsidy Scheme (CSIS), also known as the Higher Education and Skill Development Guarantee Scheme, is implemented by the Government of India to support students from Economically Weaker Sections (EWS) pursuing technical and professional education in India. This scheme helps make education loans affordable by covering interest during the moratorium period (course duration plus one year).

Key Benefits

• Full interest subsidy during the moratorium period (course duration + 1 year).
• One-time benefit for the first undergraduate or postgraduate degree in India.
• Covers professional and technical courses recognized by statutory bodies such as UGC, AICTE, IIMs, Medical Council, Nursing Council, Bar Council, and other approved institutions.
• No collateral required for loans eligible under the scheme.

Scheme Details

Feature	Details
Name	Central Sector Interest Subsidy Scheme (CSIS)
Introduced	FY 2009–10
Objective	Provide full interest subsidy during the moratorium period for eligible students
Applicable Courses	Technical/professional courses pursued after Class XII in recognized Indian institutions
Institutions Covered	NAAC-accredited institutions, NBA-accredited programs, Institutes of National Importance (INIs), CFTIs, and courses requiring statutory approval
Eligibility	Students from Economically Weaker Sections (EWS)
Income Criteria	Total annual parental/family income up to ₹4.5 lakh
Loan Amount Covered	Up to ₹7.5 lakh (for loans sanctioned from FY 2018–19 onwards)
Subsidy Period	Course duration + 1 year (moratorium)
Disqualification	Benefits not available if the student discontinues the course or is expelled on disciplinary/academic grounds
Authority for Income Certificate	Competent State/UT authority; required once at loan sanction
Aadhaar Requirement	Mandatory for authentication

Interest Rates & Charges (Applicable under Bank of Baroda Education Loan Products)

Product	Loan Slab	Effective Interest Rate
Baroda Vidya	Up to ₹4 lakh	11.50% (BRLLR + SP + 3.10%)
Baroda Gyan	Up to ₹7.5 lakh	10.15% (BRLLR + 2.00%)
Baroda Gyan	Above ₹7.5 lakh	10.05% (BRLLR + 1.90%)
Baroda Scholar (Non-Premier Institutes)	Up to ₹7.5 lakh	10.15% (BRLLR + 2.00%)
Baroda Scholar (Non-Premier Institutes)	Above ₹7.5 lakh	9.20% (BRLLR + 1.05%)
Baroda Skill Loan	Up to ₹1.5 lakh	9.65% (BRLLR + 1.50%)

Concessions

• 0.50% interest rate concession for female students.
• Additional 0.50% concession for MBBS, BDS, MS, MD, MDS students (except Ayurveda and Homeopathy).

Documents Required for Loan Application

Students applying for education loans under this scheme should keep the following ready:

• KYC of the student and co-applicant(s) for identity and address verification.
• Academic records and proof of admission to the institution.
• Entrance exam results, if applicable.
• Detailed statement of cost of study or fee structure from the institution.
• Income proof of salaried co-applicant or guarantor, if required.
• Bank account statements for the last six months.
• Income certificate from a competent authority to establish eligibility.
• Aadhaar card for authentication.
• Property documents, if applicable to the loan scheme.

Things to Remember

• Ensure the course and institution are eligible under Bank of Baroda loan schemes.
• Verify the applicable loan amount and interest rate for your chosen course and institution type.
• Prepare all required documents in advance to avoid delays.
• Understand repayment terms, including moratorium period and EMI schedule.
• Confirm the eligibility of co-applicants or guarantors if required.
• Maintain a good credit history to improve loan approval chances.
• Stay updated on special concessions, such as Baroda Yodha for children of defence personnel.

Things to Remember Before Applying for Vijaya Bank Education Loan

Before students apply for the Vijaya Bank Education Loan, it is important to keep the following points in mind:

• Ensure that the course and institution are eligible under the bank’s loan schemes.
• Check the applicable loan amount and interest rate for your chosen course and institution type.
• Prepare all required documents in advance to avoid delays in processing.
• Be aware of concessions, such as lower interest rates for girl students or specific professional courses.
• Understand repayment terms, including the moratorium period and EMI schedule.
• Confirm the eligibility criteria for co-applicants or guarantors, if required.
• Review any collateral requirements for loans above the specified threshold.
• Maintain a good credit history to increase approval chances.
• Keep updated on any special schemes, such as Baroda Yodha, for children of defence personnel.

Vijaya Bank Education Loan provides financial support for students pursuing higher studies in India or abroad. Insight for eligibility criteria, loan amounts, interest rates, required documents, and repayment terms ensures a smooth application process and stress-free funding for education.

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