{"id":775254,"date":"2023-06-14T15:59:54","date_gmt":"2023-06-14T10:29:54","guid":{"rendered":"https:\/\/leverageedu.com\/discover\/?p=775254"},"modified":"2023-06-14T15:59:54","modified_gmt":"2023-06-14T10:29:54","slug":"cheapest-education-loan-in-india","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/","title":{"rendered":"Cheapest Education Loan in India in 2023"},"content":{"rendered":"\n<p>The Bank of Baroda (BOB) offers<a href=\"https:\/\/leverageedu.com\/blog\/category\/education-loan\/\"><strong>&nbsp;education loans<\/strong><\/a>&nbsp;at 7.75% to female students and 8.25% to male candidates willing to pursue higher education in India or abroad.BOB offers the cheapest education loan in India for students admitted to recognised&nbsp;<strong>universities in India&nbsp;<\/strong>and&nbsp;<strong>abroad<\/strong>. The loan processing fee of BOB is INR 10,000+GST and the bank provides a 0.5% subsidy on loan amounts to female students. Candidates can apply for the loan on the&nbsp;<strong>Vidya Lakshmi Portal<\/strong>, a centralised education loan portal of the government of India.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><tbody><tr><td><strong>Cheapest Education Loan in India<\/strong><\/td><td>Bank of Baroda Education Loan<\/td><\/tr><tr><td><strong>Interest Rate<\/strong><\/td><td>7.75% for women<br>8.25% for men<\/td><\/tr><tr><td><strong>Processing Fee<\/strong><\/td><td>INR 10,000+GST<\/td><\/tr><tr><td><strong>Online Application Portal<\/strong><\/td><td>Vidya Lakshmi Portal<\/td><\/tr><tr><td><strong>Applicable Courses<\/strong><\/td><td><a href=\"https:\/\/leverageedu.com\/blog\/category\/bachelor\/\"><strong>Undergraduate<\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/blog\/category\/postgraduate-courses\/\"><strong>Postgraduate<\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/blog\/category\/phd\/\"><strong>Doctorate<\/strong><\/a><\/td><\/tr><tr><td><strong>Interest Subsidy Schemes<\/strong><\/td><td>Dr Ambedkar Central Sector Scheme of Interest Subsidy<br>Central Scheme of Interest Subsidy (CSIS)<br>Padho Pardesh Interest Subsidy Scheme<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"bank-of-baroda-education-loans\">Bank of Baroda Education Loans<\/h2>\n\n\n\n<p>BOB offers the cheapest education loans in India under its flagship scheme- Baroda Scholar. There are three loans under Baroda Scholar- Bank of Baroda Scholar for&nbsp;<a href=\"https:\/\/leverageedu.com\/\"><strong>Study Abroad<\/strong><\/a>, Bank of Baroda Education Loans for Executive Development Programme (EDP) offered by Premier Institutions Abroad, Baroda Gyan, and Baroda Education Loan to Students of Premier Institutions. These loans enable students to pursue undergraduate, postgraduate, and doctorate-level courses in India and abroad. The bank provides an interest subsidy of 0.5% on education loans for female students. In addition, the bank also provides subsidies under the Padho Pardesh Interest Subsidy Scheme, Dr Ambedkar Central Sector Scheme of Interest Subsidy, and Central Scheme of Interest Subsidy (CSIS).<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Canara Bank Education Loan<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cheapest-education-loan-in-india-for-study-abroad-aspirants\">Cheapest Education Loan in India for Study Abroad Aspirants<\/h2>\n\n\n\n<p><strong>The Bank of Baroda Scholar for Study Abroad scheme<\/strong>\u00a0is designed for students who got admitted to\u00a0<strong>professional<\/strong>, undergraduate, postgraduate, and doctorate programmes of universities abroad. The bank offers loans to male and female students for a moratorium period of 1 year.<\/p>\n\n\n\n<p><strong>This is the cheapest education loan in India for students aspiring to study in<a href=\"https:\/\/leverageedu.com\/universities\/top\/universities\/\">&nbsp;universities abroad<\/a>.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><tbody><tr><td><strong>Particulars&nbsp;<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Maximum Loan Limit<\/td><td>For Listed Universities- INR 80 lakhs<br>For Unlisted Universities- INR 60 lakhs<\/td><\/tr><tr><td>Moratorium Period<\/td><td>12 months\/1 year after the completion of the program<\/td><\/tr><tr><td>Loan Tenure<\/td><td>Up to INR 7.5 lakhs- More than 10 years<br>Above INR 7.5 lakhs- More than 15 years<\/td><\/tr><tr><td>Security or Collateral<\/td><td>Loan amount must be less than or equal to 100% of the value of the collateral.<\/td><\/tr><tr><td>Interest Rate(As interest rates are Marginal Cost of Funds Based Landing Rate, students must check with the bank for current interest rates.)<\/td><td>For Listed Universities- 7.75% for women and 8.25% for men<br>For Unlisted Universities- 8.4% for women and 8.9% to men<\/td><\/tr><tr><td>Processing Fees<\/td><td>INR 10,000+GSTIn case of Real Estate Collateral- Additional Property Valuation Charge- INR 8,500<\/td><\/tr><tr><td>Margin Money<\/td><td>For Listed Universities- INR 0<br>For Unlisted Universities- Up to INR 4 lakhs- INR 0 and Above INR 4 lakhs- 10%<\/td><\/tr><tr><td>Prepayment Penalty<\/td><td>None<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"applicable-countries-listed-and-unlisted-universities\">Applicable Countries (Listed and Unlisted Universities)<\/h3>\n\n\n\n<p>Listed below are the applicable universities.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Universities of the USA<\/strong><\/li>\n\n\n\n<li><strong>Universities of the UK<\/strong><\/li>\n\n\n\n<li><strong>Universities of Switzerland<\/strong><\/li>\n\n\n\n<li><strong>Universities of Spain<\/strong><\/li>\n\n\n\n<li><strong>Universities of South Korea<\/strong><\/li>\n\n\n\n<li><strong>Universities of Singapore<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/learn\/best-universities-in-portugal\/\"><strong>Universities of Portugal<\/strong><\/a><\/li>\n\n\n\n<li><strong>Universities of Netherlands<\/strong><\/li>\n\n\n\n<li><strong>Universities of Italy<\/strong><\/li>\n\n\n\n<li><strong>Universities of Ireland<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/universities\/university-of-hong-kong\/\"><strong>Universities of Hong Kong<\/strong><\/a><\/li>\n\n\n\n<li><strong>Universities of Germany<\/strong><\/li>\n\n\n\n<li><strong>Universities of France<\/strong><\/li>\n\n\n\n<li><strong>Universities of China<\/strong><\/li>\n\n\n\n<li><strong>Universities of Canada<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/study-in-australia\/\"><strong>Universities of Australia<\/strong><\/a><\/li>\n\n\n\n<li><strong>Universities of Belgium<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/universities\/national-taiwan-normal-university\/\"><strong>Universities of Taiwan<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/study-in-sweden\/\"><strong>Universities of Sweden<\/strong><\/a><\/li>\n\n\n\n<li><strong>Universities of Russia<\/strong><\/li>\n\n\n\n<li><strong>Universities of Norway<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/study-in-new-zealand\/\"><strong>Universities of New Zealand<\/strong><\/a><\/li>\n\n\n\n<li><strong>Universities of Japan<\/strong><\/li>\n\n\n\n<li><strong>Universities of Malaysia<\/strong><\/li>\n\n\n\n<li><strong>Universities of Finland<\/strong><\/li>\n\n\n\n<li><strong>Universities of Greece<\/strong><\/li>\n\n\n\n<li><strong>Universities of Denmark<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"applicable-courses\">Applicable Courses<\/h3>\n\n\n\n<p>Listed below are the applicable courses.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/management\/\"><strong>Management Courses<\/strong><\/a><\/li>\n\n\n\n<li><strong>STEM Courses<\/strong><\/li>\n\n\n\n<li><strong>Medical Courses<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/law\/\"><strong>Law Courses<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/economics\/\"><strong>Economics<\/strong><\/a>&nbsp;and Econometrics Courses<\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/blog\/category\/arts\/\"><strong>Arts Courses<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/leverageedu.com\/learn\/performance-arts-courses\/\"><strong>Performing Arts Courses<\/strong><\/a><\/li>\n\n\n\n<li><strong>Design Courses<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benefits-of-bank-of-baroda-scholar-for-study-abroad-scheme\">Benefits of the Bank of Baroda Scholar for Study Abroad Scheme<\/h3>\n\n\n\n<p>The main benefits of the Bank of Baroda Scholar for Study Abroad Scheme, the cheapest education loan in India for study abroad aspirants, are listed below.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Early approval, even before the arrival of the<strong>&nbsp;visa<\/strong>&nbsp;or i20.<\/li>\n\n\n\n<li>The bank has a policy of pre-visa disbursal, owing to the norms of visa offices.<\/li>\n\n\n\n<li>Students are given a free debit card after loan approval.<\/li>\n\n\n\n<li>The loan is inclusive of tuition fees and living expenses- for both on-campus and off-campus residences.<\/li>\n\n\n\n<li>Students are not required to pay the loan interest during the tenure of their course.<\/li>\n\n\n\n<li>Tax benefits under section 80 (E) of the Income Tax Act.<\/li>\n\n\n\n<li>Female students get a concession of 0.50% on the loan interest amount.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cheapest-education-loan-in-india-for-executive-development-programme-edp-by-premier-institutions-abroad-scheme\">Cheapest Education Loan in India for Executive Development Programme (EDP) by Premier Institutions Abroad Scheme<\/h2>\n\n\n\n<p><strong>Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad scheme<\/strong>&nbsp;is an education loan for students who got admitted to professional, undergraduate, postgraduate, and doctorate programmes of premier institutions abroad. The bank offers loans to male and female students for 8.45% and 8.95%, respectively.<\/p>\n\n\n\n<p><strong>This is the cheapest education loan in India for students aspiring to study in premier institutions of foreign countries.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Maximum Loan Limit<\/td><td>INR 80 lakhs<\/td><\/tr><tr><td>Moratorium Period<\/td><td>Course Tenure+3 months<\/td><\/tr><tr><td>Loan Tenure<\/td><td>Up to INR 7.5 lakhs- Moratorium Period+10 years<br>Above INR 7.5 lakhs- Moratorium Period+15 years<\/td><\/tr><tr><td>Interest Rate<\/td><td>For Men-8.95%<br>For Women- 8.45%<\/td><\/tr><tr><td>Security or Collateral<\/td><td>Loan amount must be less than or equal to 100% of the value of the collateral.<\/td><\/tr><tr><td>Processing Fees<\/td><td>INR 10,000+GST<br>In the case of Real Estate Collateral- An additional Property Valuation Charge is INR 7,500.<\/td><\/tr><tr><td>Margin Money<\/td><td>For Loan up to INR 4 lakhs: INR 0<br>For Loans more than INR 4 lakhs: 5% of the Loan Amount.&nbsp;<\/td><\/tr><tr><td>Prepayment Penalty<\/td><td>None<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"applicable-countries\">Applicable Countries<\/h3>\n\n\n\n<p>Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad scheme applies to the same countries as the Bank of Baroda Scholar for Study Abroad scheme.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"applicable-courses-1\">Applicable Courses<\/h3>\n\n\n\n<p>The Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad scheme covers the same course as that of the Bank of Baroda Scholar for Study Abroad scheme.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Education Loan in USA for International Students<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benefits-of-the-bank-of-baroda-education-loans-for-executive-development-programme-edp-by-premier-institutions-abroad-scheme\">Benefits of the Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad Scheme<\/h3>\n\n\n\n<p>The following are the benefits of the EDP loan by BOB:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan is approved below the arrival of visa or&nbsp;<strong>i20<\/strong>.<\/li>\n\n\n\n<li>Loans are disbursed before the arrival of the visa.<\/li>\n\n\n\n<li>Students get a free debit card.<\/li>\n\n\n\n<li>Students need not pay the loan interest amount during the course period.<\/li>\n\n\n\n<li>Candidates get tax benefits under section 80(E) of the Income Tax Act.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"baroda-gyan-scheme\">Baroda Gyan Scheme<\/h2>\n\n\n\n<p>Baroda Gyan is the cheapest education loan for students who secured admission to approved graduation, post-graduation, and professional courses in recognised universities in India. These courses must be approved by the&nbsp;<strong>University Grants Commission<\/strong><strong>&nbsp;<\/strong>(UGC),&nbsp;<strong>All India Council for Technical Education<\/strong>&nbsp;(AICTE),&nbsp; Central and State Governments, or any merit-based selection process.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Maximum Loan Limit<\/td><td>For Aviation and Medical Courses- INR 80 lakhs<br>For other courses- INR 60 lakhs<\/td><\/tr><tr><td>Loan Tenure<\/td><td>Up to INR 7.5 lakhs- More than 10 years<br>Above INR 7.5 lakhs- More than 15 years<\/td><\/tr><tr><td>Moratorium Period<\/td><td>Duration of the Course+12 months\/1 year<\/td><\/tr><tr><td>Security or Collateral<\/td><td>Loan amount should be less than or equal to the value of the collateral.<\/td><\/tr><tr><td>Interest Rate(As interest rates are Marginal Cost of Funds Based Landing Rate, students must check with the bank for current interest rates.)<\/td><td>For Male Students- 8.85%For Female Students- 8.35%<\/td><\/tr><tr><td>Processing Fees<\/td><td>INR 10,000+GST<br>INR 10,000 is refundable.<br>In the case of Real Estate Collateral- An additional Property Valuation Charge- is INR 7,500.<\/td><\/tr><tr><td>Margin Money<\/td><td>For Loan up to INR 4 lakhs- INR 0<br>For Loans more than INR 4 lakhs- 5% of the Loan Amount.&nbsp;<\/td><\/tr><tr><td>Applicable Institutions<\/td><td>For institutions recognised by:<br>UGC; or<br>AICTE; or<br>Central Government of India; or<br>State Governments of India.<\/td><\/tr><tr><td>Prepayment Penalty<\/td><td>None<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benefits-of-the-baroda-gyan-scheme\">Benefits of the Baroda Gyan Scheme<\/h3>\n\n\n\n<p>Students can avail of the following benefits by applying for Baroda Gyan:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan covers tuition fees and living expenses. It covers both off-campus and on-campus living charges.<\/li>\n\n\n\n<li>The bank provides a 0.05% rebate on education loans to female students.<\/li>\n\n\n\n<li>Students need not pay the loan interest during the course duration.<\/li>\n\n\n\n<li>Applicants get a free debit card during the disbursal of loans.<\/li>\n\n\n\n<li><strong>Tax benefits<\/strong>&nbsp;under Section 80(E) of the Income Tax Act.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"baroda-education-loan-to-students-of-premier-institutions-scheme\">Baroda Education Loan to Students of Premier Institutions Scheme<\/h2>\n\n\n\n<p>Baroda Education Loan to Students of Premier Institutions scheme is the cheapest education loan for students who have got a seat in premier institutions of India. These institutions must be approved by the State and Central Governments, AICTE, and UGC.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>ETA<\/strong><\/td><\/tr><tr><td>Maximum Loan Limit<\/td><td>For List A Secured Institutions- INR 8- lakhs<br>For List A Unsecured Institutions- INR 20 lakhs<br>For List AA secured Institutions- INR 80 lakhs<br>For List AA Unsecured Institutions- INR 40 lakhs<br>For List B &amp; C Secured Institutions- INR 80 lakhs<br>For List B&amp;C Unsecured Institutions- INR 7.50 lakhs<\/td><\/tr><tr><td>Loan Tenure<\/td><td>Up to INR 7.5 lakhs- More than 10 years<br>Above INR 7.5 lakhs- More than 15 years<\/td><\/tr><tr><td>Moratorium Period<\/td><td>Course Duration+12 months\/1 year<\/td><\/tr><tr><td>Security or Collateral<\/td><td>The loan amount has to be less than or equal to the collateral value.<\/td><\/tr><tr><td>Interest Rate(Interest Rates are the same for both male and female students.)<\/td><td>For List A Secured and Unsecured Institutions- 6.85%<br>For List AA Secured and Unsecured Institutions- 6.85%&nbsp;<br>For List, B secured and Unsecured Institutions- 7.95% for Loans up to INR 7.50 lakhs and 7.70% for Loans above INR 7.50 lakhs<br>For List C Secured and Unsecured Institutions- 8.70% for Loans up to INR 7.50 lakhs and 8.45% for loans beyond INR 7.50 lakhs<\/td><\/tr><tr><td>Processing Fees<\/td><td>INR 10,000+GSTINR 10,000 is refundable. In the case of Real Estate Collateral- An additional Property Valuation Charge- INR 7,500.<\/td><\/tr><tr><td>Margin Money<\/td><td>For Loan up to INR 4 lakhs- INR 0<br>For Loans more than INR 4 lakhs- 5% of the Loan Amount.&nbsp;<\/td><\/tr><tr><td>Prepayment Penalty<\/td><td>None<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"number-of-premier-institutions-in-india\">Number of Premier Institutions in India<\/h3>\n\n\n\n<p>India has numerous engineering and MBA colleges that qualify as Premier institutions in India. These institutions offer premier quality education under the guidance of world-class faculty. There are 4 categories of Premier institutions in India. These are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Types of Institutions<\/strong><\/td><td><strong>Number of Institutions<\/strong><\/td><\/tr><tr><td>List AA<\/td><td>18<\/td><\/tr><tr><td>List A<\/td><td>134<\/td><\/tr><tr><td>List B<\/td><td>65<\/td><\/tr><tr><td>List C<\/td><td>44<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benefits-of-baroda-education-loan-to-students-of-premier-institutions-scheme\">Benefits of Baroda Education Loan to Students of Premier Institutions Scheme<\/h3>\n\n\n\n<p>Following are the benefits of the cheapest loans in India for students studying in premier institutions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan covers tuition fees and living expenses for on-campus and off-campus living.<\/li>\n\n\n\n<li>A free debit card.<\/li>\n\n\n\n<li>Students are not required to pay the interest amount during their studies.<\/li>\n\n\n\n<li>Tax benefits under Section 80(E) of the Income Tax Act.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"other-cheap-education-loans-in-india\">Other Cheap Education Loans in India<\/h2>\n\n\n\n<p>The government of India grants several other education loans at a low-interest rate to students going for higher education. The State Bank of India (SBI) offers education loans at minimal interest rates to support students pursue their studies in India and abroad. Students can apply for the below-mentioned cheap education loans in India on the Vidya Lakshmi Portal.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Scholar Loan<\/li>\n\n\n\n<li>Student Loan<\/li>\n\n\n\n<li>Skill Loan<\/li>\n\n\n\n<li>Global Ed-vantage Education Loan<\/li>\n\n\n\n<li>Take-over of an Education Loan<\/li>\n<\/ul>\n\n\n\n<p>The government of India provides numerous education loans to students who get admitted to any approved undergraduate, postgraduate, and doctorate-level courses in recognised universities and premier institutions of India and abroad. The interest rates of BOB are lesser than that of other banks and education loan schemes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"faqs\">FAQs<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1685428166268\"><strong class=\"schema-faq-question\"><strong>Q1.\u00a0Which is the cheapest education loan in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. Bank of Baroda offers the cheapest education loans in India. Baroda Gyan and Baroda Education Loan to Students of Premier Institution\u2019s schemes are the cheapest education loans for students admitted to UGC, AICTE, and State and Central Governments-recognised universities and premier institutions of India, respectively. Whereas, the Bank of Baroda Scholar for Study Abroad and Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad schemes are the cheapest education loans in India for students admitted to universities abroad.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1685428179592\"><strong class=\"schema-faq-question\"><strong>Q2.\u00a0Which bank offers the cheapest education loan in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. Bank of Baroda provides the cheapest education loan in India to students admitted to approved courses in recognised universities in India and abroad.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1685428197974\"><strong class=\"schema-faq-question\"><strong>Q3.\u00a0Where can students apply for the Bank of Baroda Education Loan in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. Students can apply for the Bank of Baroda Education Loan on Vidya Laksmi Portal.<\/p> <\/div> <\/div>\n\n\n\n<p>To learn more about education loans in India, stay connected with&nbsp;<a href=\"https:\/\/leverageedu.com\/\"><strong>Leverage Edu.<\/strong><\/a>&nbsp;If you are aspiring to study in eminent universities abroad, avail our 30-minute free counselling session at 1800 572 000. To get regular updates about courses and entrance exams of universities abroad, follow us at&nbsp;<a href=\"https:\/\/live.leverageedu.com\/\"><strong>Leverage Live<\/strong><\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"The Bank of Baroda (BOB) offers&nbsp;education loans&nbsp;at 7.75% to female students and 8.25% to male candidates willing to&hellip;\n","protected":false},"author":82,"featured_media":775257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[366],"tags":[],"class_list":{"0":"post-775254","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-indian-education-loans"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cheapest Education Loan in India in 2023 - Leverage Edu Discover<\/title>\n<meta name=\"description\" content=\"Wondering about education loans? Check out detailed information on cheapest education loan in India in this blog; including for study abroad!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cheapest Education Loan in India in 2023\" \/>\n<meta property=\"og:description\" content=\"Wondering about education loans? Check out detailed information on cheapest education loan in India in this blog; including for study abroad!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"Leverage Edu Discover\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-14T10:29:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ankita Singh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ankita Singh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cheapest Education Loan in India in 2023 - Leverage Edu Discover","description":"Wondering about education loans? Check out detailed information on cheapest education loan in India in this blog; including for study abroad!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/","og_locale":"en_US","og_type":"article","og_title":"Cheapest Education Loan in India in 2023","og_description":"Wondering about education loans? Check out detailed information on cheapest education loan in India in this blog; including for study abroad!","og_url":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/","og_site_name":"Leverage Edu Discover","article_published_time":"2023-06-14T10:29:54+00:00","og_image":[{"width":400,"height":250,"url":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg","type":"image\/jpeg"}],"author":"Ankita Singh","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ankita Singh","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#article","isPartOf":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/"},"author":{"name":"Ankita Singh","@id":"https:\/\/leverageedu.com\/discover\/#\/schema\/person\/c8a216bec000a7d7831bac21b1bccda2"},"headline":"Cheapest Education Loan in India in 2023","datePublished":"2023-06-14T10:29:54+00:00","mainEntityOfPage":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/"},"wordCount":2035,"commentCount":0,"image":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#primaryimage"},"thumbnailUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg","articleSection":["Education Loans to Study in India"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#respond"]}]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/","url":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/","name":"Cheapest Education Loan in India in 2023 - Leverage Edu Discover","isPartOf":{"@id":"https:\/\/leverageedu.com\/discover\/#website"},"primaryImageOfPage":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#primaryimage"},"image":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#primaryimage"},"thumbnailUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg","datePublished":"2023-06-14T10:29:54+00:00","author":{"@id":"https:\/\/leverageedu.com\/discover\/#\/schema\/person\/c8a216bec000a7d7831bac21b1bccda2"},"description":"Wondering about education loans? Check out detailed information on cheapest education loan in India in this blog; including for study abroad!","breadcrumb":{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428166268"},{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428179592"},{"@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428197974"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#primaryimage","url":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg","contentUrl":"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/9\/2023\/06\/13111816\/admin-ajax-1.jpeg","width":400,"height":250,"caption":"cheapest education loan in india"},{"@type":"BreadcrumbList","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/leverageedu.com\/discover\/"},{"@type":"ListItem","position":2,"name":"Cheapest Education Loan in India in 2023"}]},{"@type":"WebSite","@id":"https:\/\/leverageedu.com\/discover\/#website","url":"https:\/\/leverageedu.com\/discover\/","name":"Leverage Edu Discover","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/leverageedu.com\/discover\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/leverageedu.com\/discover\/#\/schema\/person\/c8a216bec000a7d7831bac21b1bccda2","name":"Ankita Singh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f4b0c0570aa07aff150aa19efe14ee3b9468394aefb20ed3702e6b58fbeb1509?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f4b0c0570aa07aff150aa19efe14ee3b9468394aefb20ed3702e6b58fbeb1509?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f4b0c0570aa07aff150aa19efe14ee3b9468394aefb20ed3702e6b58fbeb1509?s=96&d=mm&r=g","caption":"Ankita Singh"},"url":"https:\/\/leverageedu.com\/discover\/author\/ankita1\/"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428166268","position":1,"url":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428166268","name":"Q1.\u00a0Which is the cheapest education loan in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. Bank of Baroda offers the cheapest education loans in India. Baroda Gyan and Baroda Education Loan to Students of Premier Institution\u2019s schemes are the cheapest education loans for students admitted to UGC, AICTE, and State and Central Governments-recognised universities and premier institutions of India, respectively. Whereas, the Bank of Baroda Scholar for Study Abroad and Bank of Baroda Education Loans for Executive Development Programme (EDP) by Premier Institutions Abroad schemes are the cheapest education loans in India for students admitted to universities abroad.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428179592","position":2,"url":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428179592","name":"Q2.\u00a0Which bank offers the cheapest education loan in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. Bank of Baroda provides the cheapest education loan in India to students admitted to approved courses in recognised universities in India and abroad.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428197974","position":3,"url":"https:\/\/leverageedu.com\/discover\/indian-education-loans\/cheapest-education-loan-in-india\/#faq-question-1685428197974","name":"Q3.\u00a0Where can students apply for the Bank of Baroda Education Loan in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. Students can apply for the Bank of Baroda Education Loan on Vidya Laksmi Portal.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"acf":[],"_links":{"self":[{"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/posts\/775254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/users\/82"}],"replies":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/comments?post=775254"}],"version-history":[{"count":0,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/posts\/775254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/media\/775257"}],"wp:attachment":[{"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/media?parent=775254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/categories?post=775254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leverageedu.com\/discover\/wp-json\/wp\/v2\/tags?post=775254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}