An education loan for study abroad is a purpose-specific borrowing arrangement that helps a student meet the cost of pursuing higher studies at an overseas institution, typically covering tuition and related expenses, with repayment usually beginning after the course is complete. Such loans commonly extend to professional and technical programmes, and the funds are generally disbursed in line with the course requirements.
Bank of Baroda, a public sector bank founded in 1908, offers its Baroda Scholar scheme for students pursuing job-oriented professional and technical courses abroad, spanning graduate and postgraduate qualifications across management, technology, science and engineering, medicine, law and allied fields at recognised universities. The scheme is aimed at Indian students who have secured admission to a notified institution and course through a recognised selection process.
Bank of Baroda emphasises direct disbursement to institutions, hostels and vendors, an option between floating and fixed interest arrangements, a repayment holiday tied to the course period, and a concession on interest for girl students at eligible institutions. A free debit card is offered as part of the facility. Eligibility and the sanctioned amount depend on factors including the course, the institution and the co-applicant's income profile, and any approval remains subject to the bank's verification and credit assessment; sanction is not guaranteed and collateral may be required depending on the case.
Tax: interest is deductible under Section 80E (no cap, up to 8 years). Foreign lenders (labelled below) are not RBI-regulated — read their terms carefully.
They lend without Indian collateral and are useful for some students, but they are NOT RBI-regulated — shown here with a distinct badge. Compare their all-in USD cost against an RBI-registered Indian lender before deciding.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.