Baroda Education Loan

We offer loan facility to study in Fiji as well as to study abroad.

Loan to study in Fiji

Eligibility
All Fiji citizens who has secured admission in a recognised college/ institute / university for education in the class after Form VI or for diploma / degree / postgraduate courses are eligible for Baroda Education Loan.

Loan Coverage - Baroda Education Loan would cover following educational expenses

1. Admission / Tuition Fees
2. Examination / Library / Laboratory Fees
3. Hostel / Boarding / Mess Charges
4. Purchase of Books / Equipments / Instruments / Uniform / Computer / Laptop which are supported by institution bill / receipts
5. Any other expenses like study tour, project work, thesis etc which required to complete the course.

Maximum Loan Amount
Loan can be given for maximum to following limits subject to repayment capacity of the parents:
Diploma course      : $10,000.00
Graduation Course : $25,000.00
Post Graduation      : $20,000.00

Margin / Contribution        : 10%


Repayment Period

For Course period from 12 months to 18 months	Maximum 24 equated monthly installment to be commenced 6 months after first disbursement
For Course exceeding 18 months	Maximum 48 equated monthly installment to be commenced 12 months after first disbursement

Other Information

• Loan amount and repayment amount will also depend upon the repayment capacity of the parents in such a way that total deductions from the income of the parents should not exceed sixty percent of the income net of statuary deductions.
• Loan needs to be secured by liquid security viz. Term Deposits, Life Insurance Policy or by way of first registered mortgage of property.
• For further details please contact any of our branch.
• Other Terms and Conditions apply

Loan to study abroad

Eligibility
All Fiji citizens who has secured admission in professional / technical courses abroad through entrance / merit based selection process are eligible for Baroda Education Loan.


  Loan Coverage :
Baroda Education Loan would cover following educational expenses

1. Admission / Tuition Fees
2. Examination / Library / Laboratory Fees
3. Hostel / Boarding / Mess Charges
4. Purchase of Books / Equipments / Instruments / Uniform / Computer / Laptop which are supported by institution bill / receipts
5. Any other expenses like study tour, project work, thesis and one way travel expenses / passage money etc which required to complete the course.

Maximum Loan Amount
Loan can be given for maximum of $75,000.00 subject to repayment capacity of the parents.

Margin / Contribution        
10%

Repayment Period
Loan can be repaid in maximum 72 EMI (Equated Monthly Installments) which would be commenced 12 months after the date of first disbursement.

Other Information

• Loan amount and repayment amount will also depend upon the repayment capacity of the parents in such a way that total deductions from the income of the parents should not exceed sixty percent of the income net of statuary deductions.
• Loan needs to be secured by liquid security viz. Term Deposits, Life Insurance Policy or by way of first registered mortgage of property.
• For further details please contact any of our branch.
• Other Terms and Conditions apply

Fees and Charges

Establishment Fees
1.00% of Loan Amount

Credit Service Fees
To be recovered in the month of February and August every year
Upto $1,500.00	$5.00 per month
From $1,501.00 to $5,000.00	$15.00 per month
From $5,001.00 to $10,000.00	$20.00 per month
From $10,001.00 to $30,000.00	$35.00 per month
From $30,001.00 to $50,000.00	$70.00 per month
From $50,001.00 to $70,000.00	$100.00 per month
From $70,001.00 to $90,000.00	$120.00 per month
From $90,001.00 to $100,000.00	$140.00 per month
From $100,001.00 to $200,000.00	$240.00 per month
Above $200,000.00	0.125 % of Loan Amount / OD Limit per month (Minimum $240.00  and Maximum 1,500.00)

Inspection Fees
Upto $1,500.00	Free
From $1,501.00 To $10,000.00	$50.00 per visit
From $10,001 To $25,000.00	$75.00 per visit
From $25,001.00 To $50,000.00	$100.00 per visit
From $50,001.00 To $100,000.00	$150.00 per visit
Above $100,000	$200.00 per visit

Security Document Handling Fees
Upto $1,000.00	Free
Above $1,000.00
One Document	$100.00
Additinal Document	$40.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)

Loan Arrear Fees
Upto $500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $501.00 To $1,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $1,001.00 To $2,500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $2,501.00 To $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
Above $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month

Opinion Fees
Local	$25.00 + Out of Pocket Expenses
Overseas	$50.00 + Out of Poecket Expenses

Modification in Terms and Conditions
For each modification	$100.00

Stamping Charges
$30.00 + out of pocket expenses

Document Discharge Fees
$75.00 per document

Settlement Fees
$150.00 per settlement

Search Fees
$30.00 subsequent $10.00 per hour

Data Bureau Charges
Not Applicable

										Duplicate Statement Fees
										$2.00 per page Computer Printout $7.50 per page statement

Establishment Fees
1.00% of Loan Amount

Credit Service Fees
To be recovered in the month of February and August every year
Upto $1,500.00	$5.00 per month
From $1,501.00 to $5,000.00	$15.00 per month
From $5,001.00 to $10,000.00	$20.00 per month
From $10,001.00 to $30,000.00	$35.00 per month
From $30,001.00 to $50,000.00	$70.00 per month
From $50,001.00 to $70,000.00	$100.00 per month
From $70,001.00 to $90,000.00	$120.00 per month
From $90,001.00 to $100,000.00	$140.00 per month
From $100,001.00 to $200,000.00	$240.00 per month
Above $200,000.00	0.125 % of Loan Amount / OD Limit per month (Minimum $240.00  and Maximum 1,500.00)

Inspection Fees
Upto $1,500.00	Free
From $1,501.00 To $10,000.00	$50.00 per visit
From $10,001 To $25,000.00	$75.00 per visit
From $25,001.00 To $50,000.00	$100.00 per visit
From $50,001.00 To $100,000.00	$150.00 per visit
Above $100,000	$200.00 per visit

Security Document Handling Fees
Upto $1,000.00	Free
Above $1,000.00
One Document	$100.00
Additinal Document	$40.00 per document
(Solicitor charges + out of pocket expenses to be recoverred seperately)

Loan Arrear Fees
Upto $500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $501.00 To $1,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $1,001.00 To $2,500.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
From $2,501.00 To $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month
Above $5,000.00	2% p.a. additional interest on the overdue amount with minimum of $25.00 per month

Opinion Fees
Local	$25.00 + Out of Pocket Expenses
Overseas	$50.00 + Out of Poecket Expenses

Modification in Terms and Conditions
For each modification	$100.00

Stamping Charges
$30.00 + out of pocket expenses

Document Discharge Fees
$75.00 per document

Settlement Fees
$150.00 per settlement

Search Fees
$30.00 subsequent $10.00 per hour

Data Bureau Charges
Not Applicable

										Duplicate Statement Fees
										$2.00 per page Computer Printout $7.50 per page statement