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Baroda Medi Elite

Baroda Medi Elite

Interest rate7.20% for PMVLS/BOB Premier category AA institutions, 7.40% for category A and 7.90% for other institutions; pricing is linked to BRLLR spreads.Loan amount₹2 lakh minimum and ₹40 lakh maximum; margin is nil up to ₹4 lakh, 5% above ₹4 lakh up to ₹7.5 lakh, and nil above ₹7.5 lakh under the published table.Repayment tenureUp to 15 years after the course-period-plus-one-year moratorium; up to 120 instalments for loans up to ₹7.5 lakh and up to 180 instalments above ₹7.5 lakh.
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Quick eligibility check

Baroda Medi Elite

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Indian national pursuing a full-time medical course in India?

Published source: Eligibility

2Does your annual income meet this requirement: Parent/guardian co-obligation and assignment of the student's future income are mandatory?

Published source: Eligibility

3Are you this type of customer: The student must be an Indian national pursuing a full-time medical course in India at a premier educational institution?

4Do you meet this requirement: The published NEET ranking limits are up to 65,000 for undergraduate study and up to 30,000 for postgraduate study?

5Does your annual income meet this requirement: Parent or guardian co-obligation and assignment of the student's future income are mandatory?

6Document checkDo you have this required document or proof: KYC documents of the applicant and co-applicants?

Published source: Eligibility

7Document checkDo you have this required document or proof: Academic records?

Published source: Eligibility

8Document checkDo you have this required document or proof: Proof of admission?

Published source: Eligibility

9Document checkDo you have this required document or proof: Entrance-examination result?

Published source: Eligibility
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 30 Aug 2026 · active
Offered byBank of Baroda

India; eligibility, branch and channel availability follow the official product terms

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeCollateral-free education loan for Indian students pursuing full-time medical courses in India who meet the published NEET-rank criteria.View source
The official page describes Baroda Medi Elite as a medical-student education loan and lists collateral-free financing.
Source
Baroda Medi Elite
Page / section
Overview / Eligibility
Accessed
22 Aug 2026
Confidence
high
Open official source ↗
Interest rate7.20% for PMVLS/BOB Premier category AA institutions, 7.40% for category A and 7.90% for other institutions; pricing is linked to BRLLR spreads.View source
The official rate table publishes -linked spreads and effective rates of 7.20%, 7.40% and 7.90%.
Source
Baroda Medi Elite
Page / section
Interest rates & charges
Accessed
22 Aug 2026
Confidence
high
Open official source ↗
Loan amount₹2 lakh minimum and ₹40 lakh maximum; margin is nil up to ₹4 lakh, 5% above ₹4 lakh up to ₹7.5 lakh, and nil above ₹7.5 lakh under the published table.View source
The official publishes the ₹2–40 lakh limit and margin bands.
Source
Baroda Medi Elite
Page / section
— Quantum of finance / Margin
Accessed
22 Aug 2026
Confidence
high
Open official source ↗
Repayment tenureUp to 15 years after the course-period-plus-one-year moratorium; up to 120 instalments for loans up to ₹7.5 lakh and up to 180 instalments above ₹7.5 lakh.View source
The official product page and state the moratorium-linked repayment periods.
Source
Baroda Medi Elite
Page / section
Benefits / — Repayment Period
Accessed
22 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil processing fee; PMVLP charges ₹200 are listed separately.View source
The official benefits and fee section state nil processing fee and ₹200 PM charges.
Source
Baroda Medi Elite
Page / section
Benefits / Fees & Charges
Accessed
22 Aug 2026
Confidence
high
Open official source ↗
EligibilityIndian national pursuing a full-time medical course in India; current page publishes NEET rank up to 1,00,000 for undergraduate (UG) study or 51,000 for postgraduate (PG) study. Parent/guardian co-obligation and assignment of the student's future income are mandatory.View source
The current page states UG: 1,00,000 and PG: 51,000 and requires an Indian national; the requires parent/guardian co-obligation and assignment of future income.
Source
Baroda Medi Elite — current official page review
Page / section
Eligibility; — Target group
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureFor a fixed-rate Education Loan: nil when prepaid from the borrower's own source; 0.50% of the outstanding amount at takeover by another lender. If there is more than one account, the charge is calculated separately for each account. This published schedule applies to the fixed-rate loan variant; the product pages do not state a separate floating-rate prepayment charge.View source
The Education Loan schedule lists borrower-own-source nil, 0.50% for takeover by another lender and separate calculation for each account.
Source
Bank of Baroda service charges — fixed-rate retail prepayment and two-wheeler rules
Page / section
Pre-Payment Charges under Fixed Rate Retail Loans — Education Loan
Accessed
29 Aug 2026
Confidence
high
Open official source ↗
MarginNil up to ₹4 lakh; 5% above ₹4 lakh and up to ₹7.50 lakh; nil above ₹7.50 lakh. Scholarship received by the student is treated as margin, and any required margin may be brought year-by-year in proportion to disbursements.View source
The table publishes nil, 5% and nil margin bands and notes that scholarship is treated as margin.
Source
Baroda Medi Elite — current official page review
Page / section
— Quantum of finance and Margin
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Covered study expensesCollege/institution/university/school/hostel fees; examination, library and laboratory fees; books, instruments and uniforms; eligible caution deposit/building fund/refundable deposit capped at 10% of total course tuition; essential personal computer/laptop; optional student/borrower insurance premium; study tours, project work and thesis. External coaching/tuition is excluded.View source
The enumerates covered education expenses and excludes external coaching/tuition; refundable deposits are capped at 10% of total tuition for the course.
Source
Baroda Medi Elite — current official page review
Page / section
— Coverage of expenses
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
SecurityNo collateral security is required. Parent/guardian co-obligation and assignment of the student's future income are mandatory.View source
Benefits say collateral free loan; the says security is NIL and separately makes co-obligation and future-income assignment mandatory.
Source
Baroda Medi Elite — current official page review
Page / section
Benefits — Collateral free loan; — Security
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Credit-life insuranceAssignment of a Group Credit Life Insurance (GCLI) policy for at least the loan amount is mandatory. The page notes tie-up arrangements with IndiaFirst Life Insurance and Kotak Life Insurance for education-loan borrowers.View source
The requires mandatory assignment of a GCLI policy not less than the loan amount and names the two current tie-up providers.
Source
Baroda Medi Elite — current official page review
Page / section
— Insurance
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
DisbursementDisbursed directly to the school, institution or hostel term-wise/year-wise in stages against requirement or demand; books, instruments and equipment are paid directly to the seller. Lodging/boarding may be paid to the establishment after bonafide verification when no institute hostel is available.View source
The specifies staged direct disbursement and direct payment for books/equipment, with bonafide checks for alternative lodging.
Source
Baroda Medi Elite — current official page review
Page / section
— Disbursement
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Financing branchA branch near the institute, near the parent's permanent residence, or at the parent's place of posting/service may sanction the loan; a nearby technology-partner centre may be treated at par with the institute where applicable.View source
The lists the three branch-location choices and the technology-partner-centre exception.
Source
Baroda Medi Elite — current official page review
Page / section
— Financing Branch
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Tax benefitThe benefits section mentions a potential income-tax benefit under Section 80E.View source
The product benefits list an income-tax benefit under Section 80E.
Source
Baroda Medi Elite — current official page review
Page / section
Benefits — Income tax benefit
Accessed
15 Sept 2026
Confidence
high
Open official source ↗
Geographic limitsIndian national pursuing a full-time medical course in India; current page publishes NEET rank up to 1,00,000 for undergraduate (UG) study or 51,000 for postgraduate (PG) study. Parent/guardian co-obligation and assignment of the student's future income are mandatory.View source
The manually reviewed product record states: “Indian national pursuing a full-time medical course in India; current page publishes NEET rank up to 1,00,000 for undergraduate (UG) study or 51,000 for postgraduate (PG) study. Parent/guardian co-obligation and assignment of the student's future income are mandatory.”.
Source
Baroda Medi Elite — official product page
Page / section
Published product metadata
Accessed
15 Aug 2026
Confidence
high
Open official source ↗
BenchmarkBRLLR spreadsView source
The manually reviewed product record states: “7.20% for PMVLS/ Premier category institutions, 7.40% for category A and 7.90% for other institutions; pricing is linked to spreads.”.
Source
Baroda Medi Elite — official product page
Page / section
Published product metadata
Accessed
15 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Collateral-free loan for eligible medical students.
  • Interest rates starting from 7.20% for the listed premier-institution category.
  • Loan amount up to ₹40 lakh.
  • Nil processing charges.
  • Repayment period up to 15 years after the course and one-year moratorium period.
  • Potential income-tax benefit under Section 80E.

Eligibility

  • The student must be an Indian national pursuing a full-time medical course in India at a premier educational institution.
  • The published NEET ranking limits are up to 65,000 for undergraduate study and up to 30,000 for postgraduate study.
  • Parent or guardian co-obligation and assignment of the student's future income are mandatory.
  • A Group Credit Life Insurance policy assignment for at least the loan amount is mandatory under the .

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • documents of the applicant and co-applicants.
  • Academic records.
  • Proof of admission.
  • Entrance-examination result.
  • Statement of the cost of study or schedule of expenses.
  • Income proof for a salaried co-applicant or guarantor, where applicable.
  • Bank-account statement for the last six months.

Related official documents

Baroda Medi Elite — current official page reviewofficial-product-page · current · accessed 15 Sept 2026
↗
Bank of Baroda service charges — fixed-rate retail prepayment and two-wheeler rulesofficial-service-charge-page · current · accessed 29 Aug 2026
↗
Bank of Baroda loan APR auditofficial-product-pages-and-rate-table · current-at-review · accessed 29 Sept 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Target group · Published detailIndian nationals pursuing full-time medical courses in India

This value is copied from Baroda Medi Elite — current published terms. Check the table notes before relying on it.

Source: Baroda Medi Elite — current official page review · Benefits; Eligibility; Interest rates & charges; Documents; Fees; Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 24 rows · 2 columnsBaroda Medi Elite — current published termsStructured transcription of the current official product page, including the updated NEET cut-offs and all decision-useful MITC rows.View tableHide table

Scroll sideways to view every column

Baroda Medi Elite — current published terms
ParameterPublished detail
Target groupIndian nationals pursuing full-time medical courses in India
NEET rank — UGUp to 1,00,000
NEET rank — PGUp to 51,000
Loan amount₹2 lakh minimum; ₹40 lakh maximum
Margin up to ₹4 lakhNil
Margin above ₹4 lakh to ₹7.50 lakh5%
Margin above ₹7.50 lakhNil
Interest — / PMVLS / Premier − 0.70%; effective 7.20%
Interest — category A − 0.50%; effective 7.40%
Interest — all other institutions; effective 7.90%
MoratoriumCourse period plus one year
Repayment up to ₹7.50 lakhMoratorium plus maximum 120 instalments
Repayment above ₹7.50 lakhMoratorium plus maximum 180 instalments
Processing chargeNil; PMVLP charge ₹200
CollateralNil
Co-obligationParent/guardian co-obligation and assignment of student's future income mandatory
Credit-life insuranceGCLI assignment not less than the loan amount mandatory
Covered expensesInstitution/hostel fees; exam/library/lab; books/instruments/uniforms; eligible deposits; essential computer/laptop; opted insurance; study tours/project/thesis
Deposit limitCaution/building/refundable deposit not above 10% of total course tuition
Excluded expenseExternal coaching/tuition
DisbursementDirect to institution/hostel term-wise or year-wise; sellers for books/equipment
Financing branchNear institute, parent's permanent residence or parent's posting/service
Documents; academic records; admission proof; entrance result; study-cost statement; applicable co-applicant income proof; six-month bank statement
Tax referenceIncome-tax benefit under Section 80E mentioned on page
Baroda Medi Elite — current official page review · Benefits; Eligibility; Interest rates & charges; Documents; Fees; · accessed 15 Sept 2026Open official source ↗

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