Personal Banking
Personal Banking

Education Loan

Education Loan

Baroda Education Loan (BEL)

Type of Facility

Demand Loan


  • 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.

Expenses Covered

  • 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.

Repayment Period

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.

Interest *

  • 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

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