SBI Education Loan | Interest Rates | Documents | SBI Schemes

SBI Education Loans: (SBI STUDENT LOAN SCHEME) 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.

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. 30 lacs

Compare Education Loan

Full Name :

Country of Study :

Mobile No :

+91

DOB :

Course of Study :

Email ID :

Gender :

Male

Female

Residence City :

Loan Amount :

Collateral Security :

Yes

Other City :

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Documents required for SBI Education Loan

SBI Education loan Interest Rates -Base Rate 9.70 % w.e.f. 04.02.2013

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)

SBI Student Loan Scheme

Loan Amount	Rate of Interest*
For loans upto Rs.4 lacs	3.50% above Base Rate, currently 13.20% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs	3.75% above Base Rate, currently 13.45% p.a.
Above Rs.7.50 lacs	1.75% above Base Rate, currently 11.45% p.a.

*(0.50% concession in interest for girl student)

(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration)

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. 30.0 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.

SBI Loan Scheme for Vocational Education And Training

3.50% above Base Rate, currently 13.20% p.a.

(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration)

SBI Scholar Loan Scheme (w.e.f. 16.11.2012)

1.75% above Base Rate, currently 11.45% p.a.

(0.50% concession in interest for girl student)

(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration)

Note: 1% interest concession for servicing interest is available if interest is serviced promptly soon after application but not later than the following month.

ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

Other Avilable Loan Products of SBI:

Source: State Bank of India Website.

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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