Bank Loan



   Bank Loans for MBA: Bank of Baroda   

Previous

Interest

  • Upto Rs.4.00 lacs: PLR

  • Above Rs.4.00 lacs: PLR + 1 %

  • Simple interest to be charged at quarterly rest during the repayment holiday/ Moratorium period. Penal interest @ 2% on overdue amount in the loan exceeding Rs.2 lacs.

Documentation Charges

Upto Rs.25000/-

Nil

Above Rs.25000/- & upto Rs.2 lacs

Rs.150/-

Above Rs.2.00 lacs & upto Rs.5 lacs

Rs.1000/-

Above Rs.5.00 lacs

Rs.1500/-

Processing / upfront Charges : Nil

 

Repayment of loan

Repayment Holiday - Course period + 1 year or 6 months after getting job, whichever is earlier.

Security

  • Upto Rs.4.00 lacs: No security.

  • Above Rs.4.00 lacs: Collateral security equal to 100% of the loan amount or co-obligation of parent/ guardian/third party along with the assignment of future income of the student for payment of installments.

Documentation

  • D. P. note.

  • Letter of co-obligation to be singed by borrowers/ parents/ guardian/ relative or friends.

  • Other related documents securities offered. (if applicable).

  • Stamped declaration/ an affidavit confirming that no loans are availed from other banks.

For further information visit:
http://www.bankofbaroda.com/personal/bobscholar.asp

Concluded.

Back to Index