There is no doubt about the importance of education these days. Be it school education or college education, it serves as a stepping stool for you to achieve your dreams. Whether it is college education or post graduation, don’t let high tuition fees hamper your growth. Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. The Government’s push on education means you can avail education loan subsidy, and you also get tax benefits for interest paid under Section 80E of the Income Tax Act. Bank of Baroda offers you different types of education loans in India to fulfill your dreams. Most of these student loans in India have a repayment period of 10-15 years and a moratorium of the course period and the specified number of months. All education loans do not need a security for a loan up to Rs. 4 lakhs.

Equipment loans are considered ideal for customers who own business whether SME or large enterprises requiring long life equipment needs, who prefer the ownership and the associated tax benefits of owning equipment’s through loans. There is also the option of equipment leasing which includes operating leases, finance leases, hire purchase arrangements and other customized products. However, when you own an equipment through a loan the ownership benefits are varied.

Personal loan is a short to medium term unsecured loan granted to an individual. It is commonly used to meet such financial needs as debt consolidation, wedding expenses, unexpected medical costs, home renovation and others. Flexibility of usage, minimal documentation and quick processing make personal loan a preferred financing option. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender, the APR (Annual Percentage Rate) of a personal loan may vary from 11.29% to 35%.