SBI Education loans are for both domestic and international courses. You can get a loan to study for both vocational and professional degrees. Offers interest rates start at 6.65%.
Table of Contents
SBI Education Loans Schemes
1] 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
2] 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.
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
For student
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.
1] What are the SBI education loan concession rates for girls?
SBI provides a 0.5% concession on education loans for girls.
2] If any computer or laptop is required for the related course, is this purchase covered in the education loan scheme?
Yes, you can buy the computer or laptop required. It is covered in the loan scheme.
3] Did I get my loan in lump sum amount?
No, SBI provides loans in parts according to your fee structure and requirement, not in a lump sum.
4] Can I get any further concession?
Yes, you will get a 1% concession if you repay your loan within the repayment period.
5] If students don’t complete the course during the course duration, will an extension of the period be granted?
If students do not complete the course in a given duration for any reason 2 years extension period will be granted. But, if more than 2 required you need to avail special sanction from Bank.
