SBI Offers Student Loans For Domestic And International Study. You Are Eligible For Financing To Study For Both Professional And Vocational Courses. There Are Also Takeover Loans That Enable You To Replace Your High-interest Loans With SBI Loans That Have Reduced Interest Rates.
SBI Student Loan
- Maximum loan amount more than 20 lakhs
- Repayment period up to 15 years after completion of the course with 12 months grace period.
- Processing fee applied above 20 lakhs of Rs.10,000 + GST.
- Up to loan amount Rs. 7.5 lakhs no collateral or guarantor required.
- Interest rates applied 8.65% pa
- For Girls 0.5% discount on interest rate
Scholar Loans
- Maximum loan amount more than 40 lakhs
- Repayment period up to 15 years after completion of the course with 12 months grace period.
- Processing fee applied – NIL.
- No collateral needed, only guardian as co-borrower.
- Interest rates applied 6.65%- 8.15% pa
- Indian National who is chosen via passing entrance exam or selection process.
Studies abroad – SBI Global ED-Vantage
- Maximum loan amount more than 1.5 crores
- Repayment period up to 15 years after completion of the course with 12 months grace period.
- Processing fee applied – Rs.10,000
- Tax Benefit under section 80(E)
- Interest rates applied 6.65%- 8.65% pa
- Online application process
Skill Loan
- Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
- Loan Repayment
- Up to 50,000 – 3 years
- 50,000 to 1 lakh – 5 years
- More than 1 lakh – 7 years
- No collateral needed
- Processing fee applied – NIL.
- Interest rates applied 6.65%- 8.15% pa
Takeover Education Loan
- Switch your education loan to SBI and you can reduce your EMIs
- Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
- Repayment period up to 15 years after completion of the course with 12 months grace period.
- Processing fee applied – NIL.
- Interest rates applied 6.65%- 8.65% pa
- For Girls 0.5% discount on interest rate
Eligible Courses for studying abroad
- Regular Graduate Degrees
- Regular Post-Graduate Degrees
- Certificate Courses
- Doctorate
- Diploma Courses
How to Apply for SBI Education Loans
Offline Application
- Visit your nearest SBI branch.
- Take all the required documents with you.
- Understand the terms and conditions applied.
- Fill out the application form and submit it.
Online Application
- Go to the SBI website
- Click on loans, Select Education loans
- You will be directed to the educations loans various schemes page
- Choose the scheme you required
- Click on Apply now
- An application form will be opened
- Fill in the details asked
- Submit the documents asked
- Submit the application
Basic Documents required for SBI Education Loans
- ID proof (Voter id/adhar card/passport/PAN card/Driving license)
- Address proof
- Passport size photo
- Academic records
- Admission proof – offer letter/admission letter
- Bank statements of past 1 year
- If any other loan is taken, that loan details
For Co-applicant
- ID proof (Voter id/adhar card/passport/PAN card/Driving license)
- Address proof
- Passport size photo
- Bank statements of past 1 year
- If any other loan is taken, that loan details
SBI Interest Subsidy Schemes
Dr. Ambedkar Central Sector Scheme – This scheme is applied for higher studies abroad linked with an education loan scheme for students who want to pursue a master’s degree. This scheme is for Economically week class.
Padho Pradesh Scheme – This scheme is also applied for higher studies abroad linked with an education loan scheme for students who want to pursue a master’s degree. This scheme is for the Economically weak class and minority section of society.
Contact Details
- Call – 1800110009 / 18004253800
Important Link
Official Website – SBI Education Loans
