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SBI Education Loan
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.
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
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Loan Amount
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Rate of Interest
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Loans upto Rs. 4.00 Lacs
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11.25% p.a.
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Loans above Rs. 4.00 Lacs and upto Rs. 7.50 Lacs |
12.75% p.a.
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Loans above Rs. 7.50 Lacs
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11.75% p.a.
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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.
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Place of Study |
Loan Amount |
Repayment Period
in Years |
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Studies in India |
Rs. 10.0 lacs |
5-7 Years |
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Studies Abroad |
Rs. 20.0 lacs |
5-7 Years |
Expenses considered for loan
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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.
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