How To Get Education Loan In State Bank of India Complete Details | भारतीय स्टेट बैंक ( SBI ) में शिक्षा ऋण कैसे प्राप्त करें पूर्ण विवरण

How To Get Education Loan In State Bank of India Complete Details

Education loans – State Bank of India

How To Get Education Loan – A term loan given to Indian citizens for pursuing higher education in India or abroad where admission is secured.

Eligible Courses

All courses with employment potential are eligible.

  • Undergraduate Courses/Post Graduate Courses/Professional Courses
  • Other courses approved by UGC/Govt./AICTE etc.

Expenses considered for Loan

  • Fee Payable to College/School/Hostel
  • Examination/Library/Laboratory Fee
  • Purchase of books/equipment/equipment/uniform
  • Caution Deposit / Building Fund / Refundable Deposit (maximum 10% of tuition fee for the entire course)
  • Travel expenses/passage money for studies abroad
  • Purchase of computers deemed necessary to complete the course
  • The cost of a two wheeler is Rs. 50,000/-

Any other expenses required to complete the course like study tour, project work etc.

How To Get Education Loan In UCO Bank Complete Details | यूको बैंक में शिक्षा ऋण कैसे प्राप्त करें पूर्ण विवरण

Amount of Loan

  • The maximum amount for studies in India is Rs. 10 lakh
  • Study abroad, up to Rs. 2 million

SBI Student Loan Scheme

Loan AmountRate of Interest
For loans upto Rs.7.5 lacs2% above MCLR, currently 11.10% p.a.
Above Rs.7.50 lacs1.85% above MCLR, currently 10.75% p.a.

*(0.50% concession in interest for girl students)

*(Rebate of 1% for the full tenure of the loan, if interest is immediately serviced and when applied during the moratorium period, including the course period#

Repayment Tenure

Repayment will start one year after the completion of the course or 6 months after securing the job, whichever is earlier.

 Place of StudyLoan AmountRepayment Period in Years
 Studies in India  Rs. 10.0 lacs  5-7
 Studies Abroad  Rs. 20.0 lacs  5-7


For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad
 Upto Rs. 4 lacs No Security
 Above Rs. 4 lacs to Rs. 7.50 lacsCollateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as “joint borrower”.

All loans must be secured by the parent/guardian of the student borrower. In the case of a married person, the co-binding can be either the spouse or the parents/in-laws.


  • For Loans up to Rs.4.0 Lakh : No Margin
  • For loans above Rs.4.0 lakh:
  • Study in India: 5%
  • Study Abroad: 15%

Documentation Required

Complete education loan application form.
Marksheet of final qualifying examination
Proof of Admission Scholarship, Scholarship etc.
Schedule of Expenses for the specified course
2 passport size photographs
Bank account details of the borrower for the last six months
Income Tax Assessment Order of last 2 years
Brief description of the assets and liabilities of the co-borrower
Proof of Income (i.e. Salary Slip / Form 16 etc.)

  • Conditions Apply

For details on Education Loans, click here.


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