Bank of Baroda is one of the top PSU banks for education loans. It offers competitive rates (8.70%), Baroda Scholar scheme for IIT/NIT/IIM students at lower rates, and participates in the Vidya Lakshmi portal. BOB also has a strong branch network across India making document submission and follow-up easier.
Baroda Scholar is Bank of Baroda's special education loan for students admitted to premier institutions like IITs, IIMs, NITs, IISc, and other government-listed top colleges. It offers lower interest rates than the standard loan. Check with your nearest BOB branch for the current list of qualifying institutions.
Yes. On the Vidya Lakshmi portal, you can apply to multiple banks simultaneously using the same Common Application Form. Applying to 2–3 banks improves your approval chances. You then choose the best offer received.
Bank of Baroda typically takes 15–30 working days from complete document submission to sanction. If you apply via Vidya Lakshmi portal, the bank responds within 30 days as per portal guidelines.
⚠️ Disclaimer: All scheme details are based on publicly available information from official government portals as of June 2026. Eligibility criteria, subsidy amounts and processes may change. FinMandi is an independent information platform and is not affiliated with the Government of India or any bank. Always verify current scheme details on the official portals before applying.