Saraswat Bank Education Loan | Interest Rates | Documents | Info

Saraswat Bank Education loan available at 11.75% rate of interest to students for study in India & Abroad. Maximum repayment of 12 Years. Finance upto 100% of cost of the fees.


  •    For Education in India and Abroad

Apply for Education Loan

Full Name

Country of Study

Course of Study

Co-borrower’s* Income

Email ID

Residence City

Course Name

Required Loan Amount

Mobile Number

Applicant’s Income Status

* 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


  •    Individual who has secured admission in any of the graduate/post-graduate courses offered by college/institute/university approved by IBA.

Limit of loan

  • Studies in India – Max upto Rs. 10.00 lacs
  • Studies Abroad – Max upto Rs. 20.00 lacs

Basis of Advance

  •    upto 100% of cost of the fees

Repayment Period

  • Maximum 12 years inclusive of moratorium period.
  • Moratorium: Duration of the course plus an additional period of six months or 3 years whichever is earlier.

Rate of Interest

       For IBA approved courses




    Upto Rs 20 lacs  11.75% (PLR – 2.50%)             14.25%

Present PLR: 14.25% p.a

  • 0.50% less rate of interest would be applicable incase of Girl students.
  • 0.25% less rate of interest in case of studies in (IIMs),(IITs),XLRI,ISB

** Total discount in rate of interest will not exceed 0.50%.

Processing fees

  • For Studies in India – NIL
  • For Studies Abroad – 0.5% of the loan amount.


  • Upto Rs. 2 lac  : Nominal Membership
  • Above Rs. 2 lac : 2.5% of the sanctioned loan amount, Maximum  Rs. 25000/-.


  • Upto  Rs. 2.00 lacs:  Two guarantors
  • Above Rs.2.00 lacs and up to Rs. 5.00 lacs: Hypothecation of household articles and two guarantors.
  • Above  Rs. 5.00 lacs : Pledge of any other tangible security acceptable to the bank OR Equitable mortgage of Property


  • Duly filled application form along with the photo identity and residence proof of the Applicants and guarantors
  •  Proof of confirmed admission
  • Estimate of course fees & other expense(traveling/lodging/boarding)
  • Fee receipts or proof of payments made.
  • Copy of Passport & Visa, if the student is going abroad for higher education and related documents.
  • Income proof of the applicant in the form of

For salaried : last 3 months salary slip/certificate or copy of the last three years IT returns filed with computation details of personal
assets and liabilities.
For Businessman : Profit & loss and ITR copies of last two years, Balance sheet, 6 month bank statement.