SBI Education Loan | Interest Rates | Documents | SBI Schemes

SBI Education Loans: SBI offers education loan for eligible courses, graduation courses, PG courses, Professional courses and other courses approved by UGC/ Government/ AICTE etc. Interest Rates, Documents required, Expenses considered for loan and repayments options of education loan.

Apply SBI Education Loan

Full Name :

Residence City :

Email ID :

Other City :

Mobile No :

+91

Course of Study :

Country of Study :

Course Name :

Applicant’s Income Status
Co-borrower’s* Income
Required Loan Amount :

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* Co-borrower : Relative with good income who can support your education loan application. Typically it can be your Father, Mother, Brother, Sister, Spouse, Cousin, Paternal Uncle (Chacha), Paternal Aunt (Chachi), Maternal Uncle (Mama), Maternal Aunt (Mami), Grandfather, Grandmother

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

SBI Education Loan Amount of Loan

For studies in India, maximum Rs. 10 lacs
Studies abroad, maximum Rs. 20 lacs

SBI Education Loan Interest Rates

Loan Amount	Rate of Interest
Loans upto Rs. 4.00 Lacs	11.25% p.a.
Loans above Rs. 4.00 Lacs and upto Rs. 7.50 Lacs	12.75% p.a.
Loans above Rs. 7.50 Lacs	11.75% p.a.

An Interest Rate concession of 0.50% to Girl Student availing Student Loans

Documents required for SBI Education Loan

Completed Education Loan Application Form.
Mark sheets of last qualifying examination
Proof of admission scholarship, studentship etc
Schedule of expenses for the specified course
2 passport size photographs
Borrower’s Bank account statement for the last six months
Income tax assessment order, of last 2 years
Brief statement of assets and liabilities, of the Co-borrower
Proof of Income (i.e. Salary slips/ Form 16 etc)

Repayment Tenure

Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

Place of Study	Loan Amount	Repayment Period in Years
Studies in India	Rs. 10.0 lacs	5-7 Years
Studies Abroad	Rs. 20.0 lacs	5-7 Years

Expenses considered for loan

Fees payable to college/school/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments/Uniforms
Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
Travel Expenses/Passage money for studies abroad
Purchase of computers considered necessary for completion of course
Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc.

Other Avilable Loan Products of SBI:

Note: All the Above mention Information collected from various sources. In future, Deal4loans.com is not responsible for any changes in SBI Education Loan Process.

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