Baroda Education Loan (BEL)
Type of Facility
- Student pursuing study - School / College education including courses leading to diploma / degree etc. offered by recognized schools / Colleges / Universities.
- Should be Resident Ugandan.
- Should have secured admission to the study courses.
- Parent should be our customer
To meet educational expenses of student for study in Uganda or abroad.
- Fee payable to School / College / Institution / University.
- Examination / Library / Laboratory fee.
- Fee and other charges payable to hostel.
- Purchase of books / equipments / instruments / uniforms.
- Personal Computers / Laptops wherever required.
- Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
- Any other expenses required to complete the course - like study tours, project works, thesis, etc.
- Cost of external coaching / tuition is not covered
Amount of Loan
- Maximum - Shs.15M. (Shillings Fifteen million only).
- Need based finance subject to repayment capacity of parent / student, based on the expected income to be generated after completion of the Course (as per general assessment, to be made by the Bank).
- Separate limit for School Education, College Education & Professional Education.
- Upto Shs. 7.5 Mn. - NIL
- Above Shs. 7.5 Mn. - 25%
- Scholarship / assistant-ship if any received to be included in the margin.
- Margin may be brought in on semester basis as and when disbursements are made.
Maximum 36 months
12 months after completion of semester or 6 months after getting job, whichever is earlier.
Other Terms **
- Next disbursement is made only after the student has passed the current examination and progress report / mark sheet of that effect is produced.
- In case student does not secure hostel facilities with educational institute, he may be allowed to make his own arrangement. Fees of lodging / boarding in such cases may be paid directly to the concerned establishment, after verifying bonafides of the same.
- Up to Ugx 5 Mn. - PLR
- Above Ugx 5 Mn. - 3% over PLR
- Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
- 1% interest concession is provided if interest applied during repayment holiday is serviced.
* Interest rate is subject to change from time to time. View latest Interest Rate.
** For further details, contact any of our branches in Uganda