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Pradhan Mantri Vidyalaxmi Scheme

Bank of Baroda education finance under Vidyalaxmi for merit-admitted students at listed Quality Higher Educational Institutions, with category-linked rates and a digital portal application route.

Interest rateFloating BRLLR-linked rates by institute category: top 10 IIMs and top 10 IITs 6.85% (BRLLR −1.05%); AA 7.20% (−0.70%); A 7.40% (−0.50%); B 7.90% (BRLLR); C 8.40% (+0.50%). The digital page repeats the same spreads.Maximum finance100% finance; no fixed maximum cap is stated. The digital page says the amount is based on course and other fees charged by the QHEI.Maximum loan amountNo fixed maximum cap is stated; the amount is based on the course and other fees charged by the QHEI. The digital page publishes margin bands only through ₹25 lakh.
Official product page ↗Compare category

Quick eligibility check

Pradhan Mantri Vidyalaxmi Scheme

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 admitted on merit to an eligible degree, postgraduate or diploma programme at a listed QHEI in India?

Published source: Eligibility

2Do you meet this requirement: BOB's current scheme page states 1,425 listed institutions?

Published source: Eligibility

3Does your annual income meet this requirement: All family-income groups may apply?

Published source: Eligibility

4Do you meet this requirement: management-quota admission is not eligible?

Published source: Eligibility

5Does your annual income meet this requirement: All family-income groups may apply for the loan?

Published source: Minimum income

6Document checkDo you have this required document or proof: Student identity and address/KYC proof, including Aadhaar and PAN?

Published source: Required documents

7Document checkDo you have this required document or proof: Valid mobile number and Vidyalaxmi Portal ID for the digital application?

Published source: Required documents

8Document checkDo you have at least one of these required documents: Admission/offer letter from the QHEI with the course fee structure or expense schedule?

Published source: Required documents

9Document checkDo you have this required document or proof: Self-attested previous qualifying examination marksheets; the last-passed examination marksheet is mandatory; entrance-exam result?

Published source: Required documents
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 27 Sept 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.

Maximum tenureUp to 15 years after the course period plus one-year moratorium.View source
The gives a course-plus-one-year moratorium and up to 15 years of repayment.
Source
Pradhan Mantri Vidyalaxmi Scheme
Page / section
— Repayment
Accessed
21 Aug 2026
Confidence
high
Open official source ↗
BenchmarkPM Vidyalaxmi uses Bank of Baroda Repo Linked Lending Rate (BRLLR): 7.90% p.a., effective 6 December 2025, shown as the 5.25% repo rate plus a 2.65% markup/base spread. The bank's current page separately lists 1-year MCLR at 8.75% p.a. effective 12 September 2026; MCLR is a bank-wide reference, not the benchmark shown for this scheme's category spreads.Effective 6 Dec 2025View source
states applies to all retail lending products and lists 7.90% effective 6 December 2025 as repo 5.25% plus markup/base spread 2.65%. The one-year row is 8.75% effective 12 September 2026. Vidyalaxmi's own table links its five category spreads to .
Source
Retail Loans Interest Rates — Bank of Baroda page rechecked 27 September 2026
Page / section
table and effective date, lines 161–175; statement and composition, lines 193–199; PMV category rows, lines 656–720
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Loan typeEducation loan under the Pradhan Mantri Vidyalaxmi Scheme; the separate Bank of Baroda digital page is an integrated application route for this scheme.View source
The digital offer identifies itself as integrated with the Vidyalaxmi scheme.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Title; Purpose of Loan
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
EligibilityIndian national admitted on merit to an eligible degree, postgraduate or diploma programme at a listed QHEI in India; BOB's current scheme page states 1,425 listed institutions. All family-income groups may apply; management-quota admission is not eligible.View source
current scheme page gives the 1,425-QHEI count and all-income-groups rule; the portal excludes management-quota loans.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Eligibility, lines 220–231; Vidyalaxmi portal — scheme features
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Minimum incomeAll family-income groups may apply for the loan; income affects separate subsidy eligibility.View source
The page explicitly makes the loan available to students of all family-income groups.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Student Eligibility; Interest Subsidy benefits
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Geographic availabilityIndia; the student must have merit-based admission to an eligible QHEI listed for PM Vidyalaxmi.View source
The product page limits eligible admission to QHEIs in India.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Student Eligibility
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Maximum finance100% finance; no fixed maximum cap is stated. The digital page says the amount is based on course and other fees charged by the QHEI.View source
The scheme page states 100% finance with no maximum cap; the integrated route bases amount on QHEI charges.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Benefits; — Quantum of finance
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Maximum loan amountNo fixed maximum cap is stated; the amount is based on the course and other fees charged by the QHEI. The digital page publishes margin bands only through ₹25 lakh.View source
The digital page gives no highest-loan cutoff and ties finance to QHEI fees; its margin table ends at ₹25 lakh.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Benefits; Features — Maximum Loan Amount and Margin
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Interest rateFloating BRLLR-linked rates by institute category: top 10 IIMs and top 10 IITs 6.85% (BRLLR −1.05%); AA 7.20% (−0.70%); A 7.40% (−0.50%); B 7.90% (BRLLR); C 8.40% (+0.50%). The digital page repeats the same spreads.View source
The scheme table publishes five category-specific effective rates and spreads; the integrated page repeats the spreads.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Interest rates and charges; matching digital-page spread table
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Processing feePM Vidyalaxmi: nil (₹0) unified processing charges on BOB's current scheme page and nil processing fee on its integrated digital route. BOB's general Education Loan table separately lists Study in India, premier-institution study in India and vocational education as nil; it lists study abroad at 1% of the loan (maximum ₹10,000), recovered upfront and refundable at first disbursement, and Career Development at 0.50%. The domestic/abroad categories are not substituted for this scheme-specific nil fee.View source
Both the Features and charges sections state nil processing fee.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Features; Interest rates and charges
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Prepayment / takeover chargeBOB's current Service Charges page lists the following only for fixed-rate Education Loans: nil when prepaid from the borrower's own funds; takeover by another lender costs 0.50% of the outstanding amount at takeover, calculated separately for each loan account. The PM Vidyalaxmi rates reviewed are BRLLR-linked; BOB does not publish a separate floating-rate PMV prepayment row in this schedule.View source
The current service-charge page explicitly limits the education-loan prepayment schedule to fixed-rate loans; Vidyalaxmi's current rate table is -linked.
Source
Service Charges — Bank of Baroda
Page / section
Pre-Payment Charges under Fixed Rate Retail Loans — Education Loan, lines 1029–1037; scheme-page rate table, lines 232–240
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Sanction-deviation chargeNil for Education Loan deviations in BOB's published service-charge table. The same page says its schedules apply only when no specific customer-level pricing approval or sanction is in place.Effective 20 Jun 2019View source
The displayed Education Loan row states nil; the table is dated 20 June 2019 and the page gives a specific-pricing exception.
Source
Service Charges — Bank of Baroda
Page / section
Deviation Charges, lines 1128–1129; general schedule applicability, lines 933–934
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Penal charges for late payment and sanction breachesBOB's schedule effective 1 April 2026 sets overdue charges by loan classification: for priority-sector loans, nil below ₹50,000 sanctioned; 1% p.a. of default above ₹50,000 through ₹2,00,000; 2% p.a. above ₹2,00,000. For other loans, nil up to ₹10,000 sanctioned and 2% p.a. of default above ₹10,000. The document does not assign exactly ₹50,000 in the priority-sector bands, and the PM Vidyalaxmi pages do not identify this account's priority-sector classification. The PDF also lists other sanction breaches at 2% p.a. of outstanding, but its closing note says penal charges apply solely to overdue payments; those statements conflict. Its cap is 4% p.a. overall, calculated monthly for the actual default period, with no further penal charge on an earlier penal amount.Effective 1 Apr 2026View source
Both pages were visually reviewed. The sanction-breach rows and closing overdue-only note are both retained because their scope is unresolved in the .
Source
Penal Charges for various types of non-compliances of sanction terms and conditions in Loans and Advances
Page / section
Page 1, rows 1–2; page 2, notes; document effective 1 April 2026
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Security and insuranceNil collateral and guarantor under the scheme. BOB requires group credit-life insurance when the loan exceeds ₹7.50 lakh; the premium may be financed and recovered with instalments, or an IRDA-approved term plan may be assigned instead.View source
The scheme is collateral-free; separately requires group credit-life cover above its stated loan threshold.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Benefits; — Security and Insurance
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
TenureMoratorium: course period plus one year. Repayment: up to 15 years after the moratorium.View source
The digital page gives up to 15 years excluding moratorium; the scheme page sets moratorium at course period plus one year.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Features — Repayment Tenure; scheme-page — Repayment Holiday and Period
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Required documentsDigital application: valid mobile number, student KYC (Aadhaar, PAN and address proof), VLP ID, QHEI admission/offer letter with fee details, last-passed examination marksheet (mandatory), prior qualifying marksheets and entrance result; institute-payment proof if any. BOB also lists family-income proof from a designated public authority. Subsidy processing separately asks for qualifying-exam marksheets, admission proof, course-expense schedule, family-income proof, student/parent photos and a co-obligant photo if collateral is provided.View source
The digital page lists the and mandatory last-passed marksheet; scheme page adds its published student and family-income checklist.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Terms and Conditions; scheme page — Documents Required; portal — subsidy checklist
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
MarginDigital-page schedule: nil up to ₹4 lakh; 5% above ₹4 lakh and up to ₹7.50 lakh; 10% above ₹7.50 lakh and up to ₹25 lakh. No higher-band margin is shown. This conflicts with BOB's separate PM Vidyalaxmi page, which says 100% finance; the Bank's public pages do not explain the relationship, so confirm the applicable margin with BOB before relying on either presentation.View source
The digital page gives three margin bands through ₹25 lakh, while the scheme page separately claims 100% finance.
Source
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda
Page / section
Interest rates and charges — Margin; scheme-page Benefits — 100% Finance
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Interest subsidyBOB states subsidy up to ₹10 lakh: 100% interest subvention under PM-USP CSIS for eligible technical/professional courses when annual family income is up to ₹4.50 lakh; 3% interest subvention for annual family income above ₹4.50 lakh and up to ₹8 lakh. These are subsidy bands, not loan-eligibility income cutoffs.View source
presents the subsidy ceiling and separate 4.5-lakh and 8-lakh family-income bands.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
Benefits, lines 213–217
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Interest-subsidy documentsFor subsidy processing, the PM Vidyalaxmi portal FAQ lists qualifying-exam marksheets (Class X/XII or last qualifying/diploma exam), admission proof, course-expense schedule, family-income proof from a public/college authority, student and parent photographs, and a co-obligant/guarantor photograph if collateral security is provided.View source
The gives subsidy-support documents separately from the bank's loan application documents.
Source
Vidyalaxmi Portal — official scheme
Page / section
Required documents for education-loan and interest-subsidy applications
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Application channelApply through the PM Vidyalaxmi portal using a valid mobile number and VLP ID. The portal processes the application; the bank verifies documents, completes due diligence and sanctions/disburses the loan directly to the institution.View source
The distinguishes the portal's processing role from the bank's sanction and institution payment.
Source
Vidyalaxmi Portal — official scheme
Page / section
How to apply; education-loan disbursement; PMV digital route terms
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Portal application limitsOne active portal application at a time; a student can select up to three banks in that application.View source
The portal limits one active application and permits selection of up to three banks.
Source
Vidyalaxmi Portal — official scheme
Page / section
Number of education-loan applications; bank selection
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Portal document uploadUpload documents as PDF or JPEG; the portal FAQ states a maximum size of 200 KB per file.View source
The limits uploads to /JPEG files of up to 200 KB.
Source
Vidyalaxmi Portal — official scheme
Page / section
Document upload format and size
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Bank accountAn existing account with the selected bank is not required to apply; after sanction, the student must open a savings account with the bank for disbursement and repayment, individually or jointly with a parent/co-applicant.View source
The portal separates the no-account-needed application step from the post-sanction account condition.
Source
Vidyalaxmi Portal — official scheme
Page / section
Bank account requirement before/after sanction
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Financing branchBOB says financing is through a branch near the institute, near the parent's permanent residence, or near the parent's posting/service location.View source
The permits the institute-area or parent residence/posting-area branch.
Source
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page
Page / section
— Financing Branch
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Other Bank of Baroda education-loan service chargesThe BOB tariff lists an education-loan rate-switch fee, fixed-rate prepayment rules, a dated processing-fee schedule for domestic/abroad and named loan types, property valuation/legal costs only where a property is mortgaged, and nil education-loan deviation charges. The schedule's specific scope, date and conditions are shown in the table; PM Vidyalaxmi's own processing/security terms remain controlling for those scheme facts.View source
Current page contents are recorded with the specific 2019 effective date of the processing table and the scheme page's own nil processing/security facts.
Source
Service Charges — Bank of Baroda
Page / section
Conversion, fixed-rate prepayment, education-loan fees and deviation charges, lines 950–1129
Accessed
27 Sept 2026
Confidence
high
Open official source ↗
Rate-conversion chargeIf BOB permits a rate switch on the account: 0.10% of the outstanding balance plus undisbursed amount; minimum ₹5,000 + GST and maximum ₹1,00,000 + GST per account per conversion.View source
The education-loan service-charge page gives this fee for a borrower-requested rate switch. It is not the ordinary reset; product/sanction terms determine whether a separate switch is available.
Source
Service Charges — Bank of Baroda
Page / section
Conversion Charges — Education Loan, lines 950–967
Accessed
27 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • Interest rates start from 6.85% p.a. for eligible institutions.
  • 100% finance with no maximum cap published.
  • No security is required under the scheme.
  • 75% Government credit guarantee is available for loans up to ₹7.50 lakh.
  • Interest subsidy is available up to ₹10 lakh, with 100% subvention for eligible families up to ₹4.50 lakh and 3% subvention for family income above ₹4.50 lakh up to ₹8 lakh.
  • Repayment up to 15 years after the moratorium; processing charge is nil.

Eligibility

  • Indian national admitted on merit to a listed Quality Higher Educational Institution (QHEI) in India for an eligible degree, diploma or integrated programme; current scheme page states 1,425 institutions.
  • The integrated digital page still states 1,051 institutions; that count conflicts with the current scheme page and its linked current list.
  • All family-income groups may apply for the loan; family income affects separate interest-subsidy eligibility.
  • Admission through management quota is not eligible under the Vidyalaxmi scheme.
  • For the digital route, the page requires a valid mobile number, documents and a Vidyalaxmi Portal ( ).

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

Documents the bank lists

  • Student identity and address/ proof, including Aadhaar and .
  • Valid mobile number and Vidyalaxmi Portal for the digital application.
  • Admission/offer letter from the QHEI with the course fee structure or expense schedule.
  • Self-attested previous qualifying examination marksheets; the last-passed examination marksheet is mandatory; entrance-exam result.
  • Proof of institute payment where a payment has already been made.
  • Annual family-income proof from the designated public authority, as listed by ; income proof is not a minimum-income cutoff for the loan and is relevant to subsidy eligibility.
  • For interest-subsidy claims: qualifying-exam marksheets (Class X/XII or last qualifying/diploma exam), admission proof, course-expense schedule, family-income proof from a public/college authority, student and parent photographs, and a co-obligant/guarantor photograph if collateral security is provided.

Related official documents

Microsoft Word - 1051 word fileofficial-product-document · current · accessed 15 Aug 2026
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Microsoft Word - Document1official-product-document · current · accessed 15 Aug 2026
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Bank of Baroda Retail Loans Interest Rates — current BRLLR and MCLR referencesofficial-interest-rate-page · current · accessed 29 Aug 2026
↗
Education Loan — Bank of Baroda general application formofficial-application-form · inaccessible · accessed 27 Sept 2026
↗
Bank of Baroda Service Charges — education-loan charge schedules checked 27 September 2026official-service-charge-page · current · accessed 27 Sept 2026
↗
Bank of Baroda service charges — retail processing and prepayment scheduleofficial-service-charge-page · current · accessed 29 Aug 2026
↗
Bank of Baroda loan product pages — eligibility, limits and chargesofficial-product-pages · current-at-review · accessed 29 Sept 2026
↗
Penal Charges for Various Types of Non-Compliances in Loans and Advances — Bank of Baroda, effective 1 April 2026official-penal-charge-pdf · current · accessed 27 Sept 2026
↗
Digital Education Loan integrated with PM Vidyalaxmi — Bank of Baroda current pageofficial-product-page · current · accessed 27 Sept 2026
↗
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page, checked 27 September 2026official-product-page · current · accessed 27 Sept 2026
↗
Bank of Baroda loan APR auditofficial-product-pages-and-rate-table · current-at-review · accessed 29 Sept 2026
↗
Retail Loans Interest Rates — Bank of Baroda page rechecked 27 September 2026official-retail-interest-rate-page · current · accessed 27 Sept 2026
↗
Pradhan Mantri Vidyalaxmi Scheme — official pageofficial-product-page · current · accessed 29 Aug 2026
↗
PM Vidyalaxmi Portal — official scheme FAQ, reviewed 27 September 2026official-scheme-faq · current · accessed 27 Sept 2026
↗

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One monthly payment₹19,158nineteen thousand one hundred fifty-eight rupees
Interest paid over the full loan₹20,97,925twenty lakh ninety-seven thousand nine hundred twenty-five rupees
Everything you repay₹45,97,925forty-five lakh ninety-seven thousand nine hundred twenty-five rupees

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· Published value7.90% = repo 5.25% + markup/base spread 2.65%

This value is copied from Bank of Baroda retail-lending benchmark reference. Check the table notes before relying on it.

Source: Bank of Baroda Retail Loans Interest Rates · benchmark; benchmark Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 3 rows · 4 columnsBank of Baroda retail-lending benchmark referenceCurrent benchmark values and effective dates from the official retail-loans rate page.View tableHide table

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Bank of Baroda retail-lending benchmark reference
ReferencePublished valueEffective dateUse
7.90% = repo 5.25% + markup/base spread 2.65%6 December 2025Benchmark for retail lending; product-specific spread and risk pricing still apply.
1-year 8.75%12 August 2026Reference used by products or fixed/legacy pricing that expressly links to .
Base rate9.45%12 May 2025Reference where a product's published terms expressly use Base Rate.
  • The page says covers retail lending products but also shows product-specific spread tables; the benchmark is not itself the final customer rate.
Bank of Baroda Retail Loans Interest Rates · benchmark; benchmark · effective 12 Aug 2026 · accessed 29 Aug 2026Open official source ↗
Table 2 · 9 rows · 2 columnsPM Vidyalaxmi — finance, subsidy, security and repayment termsView tableHide table

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PM Vidyalaxmi — finance, subsidy, security and repayment terms
TermPublished detail
Finance100% finance; no maximum cap is stated
Credit guarantee75% Government of India credit guarantee for loan amounts up to ₹7.50 lakh
Interest subsidySubsidy up to ₹10 lakh; full subvention for eligible technical/professional courses at family income up to ₹4.50 lakh; 3% for family income above ₹4.50 lakh and up to ₹8 lakh
Repayment holidayCourse period plus one year
Repayment periodUp to 15 years after the moratorium
ProcessingNil unified processing charges
SecurityNil
Credit-life insuranceMandatory above ₹7.50 lakh; premium may be financed and recovered with instalments, or replaced with an -approved term plan
Financing branchNear the institute, the parent's permanent residence, or the parent's posting/service location
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page · Benefits; — Finance, guarantee, repayment, charges, security, insurance and branch · accessed 27 Sept 2026Open official source ↗
Table 3 · 3 rows · 2 columnsDigital PM Vidyalaxmi page — published margin schedule (conflicts with scheme finance claim)View tableHide table

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Digital PM Vidyalaxmi page — published margin schedule (conflicts with scheme finance claim)
Loan amount bandPublished margin
Up to ₹4 lakhNil
Above ₹4 lakh and up to ₹7.50 lakh5%
Above ₹7.50 lakh and up to ₹25 lakh10%
  • No margin row is published above ₹25 lakh. scheme page separately says 100% finance; no reconciliation was found.
Digital Education Loan integrated with Vidyalaxmi — Bank of Baroda · Interest rates and charges — Margin · accessed 27 Sept 2026Open official source ↗
Table 4 · 11 rows · 2 columnsBOB education-loan service charges — dated and conditional scheduleView tableHide table

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BOB education-loan service charges — dated and conditional schedule
Charge / loan routePublished amount and condition
Rate conversion — when borrower switches interest rate0.10% of outstanding balance plus undisbursed portion; minimum ₹5,000 + and maximum ₹1,00,000 + per account for each conversion
Fixed-rate education loan prepayment — borrower's own fundsNil
Fixed-rate education loan takeover by another lender0.50% of outstanding amount at takeover; calculate separately for each account
Education Loan — study in IndiaNil
Education Loan — study abroad1% of loan amount, capped at ₹10,000; recovered upfront and refundable on first disbursement
Education Loan — premier institutions in IndiaNil
Education Loan — vocational education and trainingNil
Education Loan — career development0.50%
Advocate and valuer where property is mortgaged₹8,500 per property, non-refundable; not applicable to Vidyalaxmi's nil-security terms
Mortgage-creation charge for education loansNil
Education Loan deviation chargeNil
  • The education-loan service-charge table is headed excluding and effective 20 June 2019; the current page does not state a later date for this table.
  • says this schedule applies where no specific customer-level pricing approval or sanction is in place. The conversion entry explicitly includes in its minimum and maximum; applicability is not added to rows that do not state it.
  • Vidyalaxmi's own scheme page states nil unified processing charges and nil security; the general study-abroad, career-development and mortgaged-property lines are not substituted for those scheme terms.
Service Charges — Bank of Baroda · Conversion charges, lines 950–967; fixed-rate prepayment, lines 1029–1037; Education Loan service-charge table, lines 1055–1120; deviations, lines 1128–1129 · effective 20 Jun 2019 · accessed 27 Sept 2026Open official source ↗
Table 5 · 21 rows · 3 columnsBOB penal charges for loans and advances — effective 1 April 2026View tableHide table

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BOB penal charges for loans and advances — effective 1 April 2026
No.Non-compliance / conditionPublished charge
1Delayed dues on priority-sector loans; sanctioned amount below ₹50,000Nil
1Delayed dues on priority-sector loans; sanctioned amount above ₹50,000 but at or below ₹2,00,0001% p.a. on the amount of default; / threshold applies per member, not per group
1Delayed dues on priority-sector loans; sanctioned amount above ₹2,00,0002% p.a. on the amount of default
2Delayed dues on loans other than priority-sector loans; sanctioned amount up to ₹10,000Nil
2Delayed dues on loans other than priority-sector loans; sanctioned amount above ₹10,0002% p.a. on the amount of default
3Overdue regularisation of a sanctioned TOD, excess or ad-hoc limit2% p.a. for the period beyond the due date of regularisation, for the default period
4Late or missing stock and book-debt statements2% p.a. on outstanding fund-based working-capital balance for the default period
5Late or missing QIS — fund-based working capital1% p.a. on outstanding fund-based working-capital balance for the default period, for existing and fresh sanctions
5Late or missing QIS — exclusive non-fund-based limits0.25% p.a. on outstanding non-fund-based facility, capped at ₹1,00,000 per month
5Late or missing QIS — borrower has both fund-based and non-fund-based limits1% p.a. on outstanding fund-based working capital and 0.25% p.a. on outstanding non-fund-based facility, capped at ₹1,00,000 on the non-fund-based limit, for the default period
6Delayed audited financial statements, except exempt category2% p.a. on outstanding credit facilities for the default period
7Financial papers/documents/information not submitted at least one month before review due date; combined FB+NFB limit not exceeding ₹10,00,000Nil
7Same non-submission; above ₹10,00,000 through ₹7.50 crore1% p.a. on outstanding facilities up to renewal due date; 1.50% p.a. thereafter until submission
7Same non-submission; above ₹7.50 crore1% p.a. up to renewal due date; 2% p.a. thereafter until submission
8Delay in creating/extending mortgage, except where permitted in sanction2% p.a. on outstanding credit-facility balance for the default period
9Failure to carry out external credit rating for an eligible exposure2% p.a. on outstanding credit-facility balance for the default period
10Breach of financial covenants in sanction terms2% p.a. on outstanding credit-facility balance for the default period
11Documents required by sanction terms not submitted2% p.a. on outstanding credit-facility balance for the default period
12Current account not closed as required by sanction terms2% p.a. on outstanding credit-facility balance for the default period
13Security perfection not completed as required by sanction terms2% p.a. on outstanding credit-facility balance for the default period
14Other breach/non-compliance with material sanction terms2% p.a. on outstanding credit-facility balance for the default period
  • The priority-sector rows show below ₹50,000 and above ₹50,000 through ₹2,00,000; exactly ₹50,000 is not assigned to a band by the document.
  • The Vidyalaxmi pages reviewed do not identify whether the sanctioned account will be classified as priority-sector; both overdue branches are preserved rather than guessed.
  • The says charges are calculated monthly for the actual non-compliance period, capped at 4% p.a. of outstanding credit facilities irrespective of instance count, and not levied on earlier penal charges.
  • The closing note says penal charges apply solely to overdue instalments/interest/service-charge dues, while rows 3–14 list other non-compliances. The source does not reconcile this scope conflict.
  • Working-capital reporting conditions (stock/book-debt and QIS) are preserved as published; they are not represented as PMV-specific triggers.
Penal Charges for various types of non-compliances of sanction terms and conditions in Loans and Advances · Pages 1–2, rows 1–14 and notes; effective 1 April 2026 · effective 1 Apr 2026 · accessed 27 Sept 2026Open official source ↗
Table 6 · 5 rows · 2 columnsPM Vidyalaxmi charge facts — scheme-specific termsView tableHide table

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PM Vidyalaxmi charge facts — scheme-specific terms
Charge published scheme term
ProcessingNil unified processing charge
Security / mortgage creationNil security under the scheme; no property-mortgage legal/valuation cost applies to this nil-security term
Education-loan deviationsNil in education-loan charge schedule
Rate switchingIf a rate-conversion option is available for the sanction, 0.10% of balance plus undisbursed amount; ₹5,000 + minimum and ₹1,00,000 + maximum per account per conversion
Prepayment publishes nil own-source and 0.50% takeover only for fixed-rate education loans; PMV's published rates are -linked, so that fixed-rate row is not asserted as its floating-rate prepayment charge
  • The dated 20 June 2019 service-charge rows are not represented as newly effective in 2026.
  • public pages do not say whether a rate-switch option is available for Vidyalaxmi; confirm with the Bank before relying on that conditional fee.
Service Charges — Bank of Baroda; Pradhan Mantri Vidyalaxmi Scheme page · Conversion, fixed-rate prepayment, education-loan schedule and deviations; PMV · accessed 27 Sept 2026Open official source ↗
Table 7 · 5 rows · 4 columnsPM Vidyalaxmi — institution-category ratesView tableHide table

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PM Vidyalaxmi — institution-category rates
ProductInstitution category spreadEffective interest rate
Vidyalaxmi SchemeTop 10 IIMs and top 10 IITs −1.05%6.85%
Vidyalaxmi Scheme −0.70%7.20%
Vidyalaxmi SchemeA −0.50%7.40%
Vidyalaxmi SchemeB +0.00%7.90%
Vidyalaxmi SchemeC +0.50%8.40%
Pradhan Mantri Vidyalaxmi Scheme — Bank of Baroda current product page · Interest rates and charges; the digital page independently repeats the five spreads · accessed 27 Sept 2026Open official source ↗

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