A right career begins with a right education.

Leave a missed call on: 8467001122

Education Loan EMI Calculator

Loan Amount:

10000

10000000

₹500000
Rate of Interest (%):

5%

15%

6.85
Loan Terms (monthly):

12

180

180
Equated Monthly Installment (EMI) will be

Baroda Medi Elite

Note : The Bank may use the services of agents in sales/marketing etc. of its various products.

full time Medical courses for students secured NEET Ranking : UG: 65000 PG: 30000

Benefits
Features
Eligibility
Interest rates & charges
Documents Required
Fees & Charges
Most Important Terms and Conditions (MITC)

Baroda Medi Elite : Benefits

Baroda Medi Elite : Features

For Medical Students, Study in India.

Baroda Medi Elite : Eligibility

Students secured NEET Ranking as:
1. UG: 65000.
2. PG: 30000

* Should be an Indian national

Baroda Medi Elite : Interest rates & charges

Baroda Education Loan Scheme for Medical students - Baroda Medi Elite	Category	Repo Rate+ spread	Effective Rate of Interest
	Institution under PMVLS & BOB Premier institutions
	AA	BRLLR-0.70%	7.20%
	A	BRLLR-0.50%	7.40%
	All other Institutions	BRLLR	7.90%

Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
Servicing of interest during the moratorium period is optional for students. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalment (EMI) to be fixed.
No special concession for girl student has been proposed under the scheme.
In case of student fails to clear semester in respective year or non-compliance of terms & conditions, concessional ROI will be withdrawn and ROI will be applicable as per Baroda Gyan

Baroda Medi Elite : Documents Required

KYC of applicant and co-applicants
Academic Records
Proof of admission
Entrance Exam Result
Statement of cost of study/ Schedule of expenses
Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
Bank account statement for last 6 months etc

Baroda Medi Elite : Fees & Charges

NIL processing fees
PMVLP charges- 200

Baroda Medi Elite : Most Important Terms and Conditions (MITC)

Target group

Meritorious students pursuing medical courses conducted by Premier Educational Institutions in India and have secured NEET ranking up to:
For UG: 65,000 & For PG: 30,000

* Quantum of finance-

Minimum Loan Limit: Rs.2.00 Lacs
Maximum Loan Limit: Rs.40.00 Lacs
Margin-

Loan Amount	Margin
Upto Rs.4.00 Lakh	Nil
Above Rs.4.00 Lakh and Up to Rs.7.50 Lakh	5%
Above Rs.7.50 Lakh	Nil

Note:

Any scholarship received by the student is to be treated as margin.
Margin, if any, may be brought in on year-to-year basis as and when disbursements are made on a pro rata basis.

* Repayment Holiday/ Moratorium Period

Coverage of expenses for

Fee payable to college/institution/university/school/hostel.
Examination/library/laboratory fee.
Hostel fees/charges.
Purchase of books/instruments/uniforms.
Caution deposit, building fund/refundable deposit supported by institution bills/receipts, subject to condition that the amount does not exceed 10% of the total tuition fees for the entire course.
Purchase of Personal computer/laptop - essential for completion of the course.
Insurance premium for student/borrower, if any opted by the student. Presently the bank has a tie-up arrangement with M/s. IndiaFirst Life Insurance Co. & M/s. Kotak Life Insurance Co. for Group Credit Life insurance cover to education loan borrowers.
Any other expenses required to complete the course like study tours, project works, thesis, etc.
Cost of external coaching/tuition is not to be considered.

Note: The details of expenses for the entire course period to be obtained from college/institution.

Repayment Period

The loan is repayable in maximum 10-15 years after the completion of the moratorium period as mentioned above.

For loans up to Rs. 7.5 Lakhs: Moratorium Period + Maximum 120 instalments

For loans above Rs. 7.5 Lakhs: Moratorium Period + Maximum 180 instalments

Unified Processing charges- - NIL

Security NIL

Note: Co-obligation of parents / guardian along with assignment of future income of the student for payment of instalments is mandatory.

Disbursement

Directly to school/institution/hostel - term wise/year wise, in stages as per the requirement/demand.

Directly to book seller/shop for purchase of books, instruments, equipment.

In case a student does not secure a hostel facility with an educational institute, he may be allowed to make his own arrangement if required. Lodging/boarding charges in such cases to be paid directly to the concerned establishment, after verifying bonafides of the same.

Financing Branch

Branch in the vicinity of the institute
Branch which is in close proximity to the permanent residence of parent/at the place of posting/service of the parent branch

In case where the programmes are being offered by these premier institutions in collaboration with the technology partners like Huges, Times Pro etc., the centres of such technology partners may be treated at par with the Institutions and a branch in the vicinity of the centre of such technology partners can also sanction.