Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
EligibilityIndian nationals admitted to NSQF-aligned vocational/skill courses at ITIs, polytechnics, recognised schools/colleges, NSDC/Sector Skill Council or State Skill Mission/Corporation partners. No specific student age limit; a minor’s parent executes documents.View source
The official eligibility section lists eligible institutes, NSQF courses, nationality and age treatment.
- Source
- Skill Loan Scheme
- Page / section
- Eligibility / Training courses
- Accessed
- 23 Aug 2026
- Confidence
- high
Loan amount₹5,000 minimum to ₹7.50 lakh maximum, subject to the student’s repayment capacity; covers tuition/
The official publishes the amount range and expense coverage.
- Source
- Skill Loan Scheme
- Page / section
- — Loan amount / Expenses
- Accessed
- 23 Aug 2026
- Confidence
- high
Interest rateBRLLR + 1.50%, effective rate 9.40% in the published table; girl students receive a 0.50% concession subject to the floor at BRLLR.View source
The current table publishes one slab and the girl-student concession.
- Source
- Skill Loan Scheme
- Page / section
- Interest rates & charges
- Accessed
- 30 Aug 2026
- Confidence
- high
Repayment periodUp to 3 years for loans up to ₹50,000; up to 5 years for ₹50,000–₹1 lakh; up to 7 years above ₹1 lakh.View source
The gives three amount-based tenure bands.
- Source
- Skill Loan Scheme
- Page / section
- — Repayment Period
- Accessed
- 30 Aug 2026
- Confidence
- high
Processing feeNil processing and documentation charges.View source
The page publishes nil processing and documentation charges.
- Source
- Skill Loan Scheme
- Page / section
- Benefits; Interest rates & charges
- Accessed
- 30 Aug 2026
- Confidence
- high
SecurityNo collateral or third-party guarantee; the parent executes the loan document as joint borrower with the student.View source
The page distinguishes no collateral/third-party guarantee from the parent's joint-borrower role.
- Source
- Skill Loan Scheme
- Page / section
- Benefits; — Security
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum finance₹5,000 minimum to ₹7,50,000 maximum.View source
The page publishes both minimum and maximum skill-loan amounts.
- Source
- Skill Loan Scheme
- Page / section
- Overview; — Maximum Loan Amount
- Accessed
- 30 Aug 2026
- Confidence
- high
Income eligibilityNo minimum income amount is published. The student loan is need-based and subject to the student's repayment capacity; an income proof is requested only from a salaried co-applicant or guarantor when applicable.View source
The skill-loan page states need-based finance subject to repayment capacity and conditional co-applicant income proof, without a minimum income number.
- Source
- Skill Loan Scheme
- Page / section
- Documents Required;
- Accessed
- 29 Aug 2026
- Confidence
- high
Prepayment / foreclosureFor a fixed-rate Skill Loan, nil when prepaid from the borrower's own source and 0.50% of outstanding when taken over by another lender. The official product page publishes this table under Pre-payment charges.View source
The product page lists borrower-own-source nil and takeover 0.50% of outstanding.
- Source
- Skill Loan Scheme
- Page / section
- Pre-payment charges under fixed rate loan
- Accessed
- 29 Aug 2026
- Confidence
- high
Loan typeSkill-development education loanView source
The official page names the facility Skill Loan Scheme under Education Loan.
- Source
- Skill Loan Scheme — official page
- Page / section
- Product title and overview
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsIndian nationals admitted to NSQF-aligned vocational/skill courses at ITIs, polytechnics, recognised schools/colleges, NSDC/Sector Skill Council or State Skill Mission/Corporation partners. No specific student age limit; a minor’s parent executes documents.View source
The manually reviewed product record states: “Indian nationals admitted to NSQF-aligned vocational/skill courses at ITIs, polytechnics, recognised schools/colleges, NSDC/Sector Skill Council or State Skill Mission/Corporation partners. No specific student age limit; a minor’s parent executes documents.”.
- Source
- Skill Loan Scheme — official product page
- Page / section
- Published product metadata
- Accessed
- 15 Aug 2026
- Confidence
- high
BenchmarkBRLLR + 1View source
The manually reviewed product record states: “ + 1.50%, effective rate 9.40% in the published table; girl students receive a 0.50% concession subject to the floor at .”.
- Source
- Skill Loan Scheme — official product page
- Page / section
- Published product metadata
- Accessed
- 15 Aug 2026
- Confidence
- high
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
Benefits and features
- Technical-course loan for ITIs, polytechnics and recognised skill institutions.
- Loan amount ₹5,000 to ₹7.50 lakh.
- No processing, documentation, margin or collateral charges are published.
- Repayment can extend up to seven years, depending on loan amount.
- Interest servicing during study/
moratorium is optional and girl students receive a 0.50% interest concession.
Eligibility
- Indian nationals admitted to eligible NSQF-aligned vocational or skill courses may apply; there is no specific student-age restriction.
- Eligible institutions include ITIs, polytechnics, recognised schools/colleges and NSDC/sector-skill/state-mission training partners.
- Courses may run from two months to three years and should lead to a recognised certificate, diploma or degree.
- A minor's parent executes the loan documents and later provides acceptance/ratification on attaining majority.
- Finance is need-based and subject to repayment capacity; the parent joins as joint borrower without third-party guarantee.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- of applicant and co-applicants.
- Academic records, proof of admission and entrance-exam result where applicable.
- Statement of cost of study/schedule of expenses.
- Income proof for salaried co-applicant/guarantor where applicable.
- Bank-account statement for the last six months and property documents where applicable.
Related official documents
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
↗Bank of Baroda loan APR auditofficial-product-pages-and-rate-table · current-at-review · accessed 29 Sept 2026
↗Skill Loan Scheme — official pageofficial-product-page · current · accessed 29 Aug 2026
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