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Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time. students and parents are advised to check thoroughly the terms and conditions of educational loan scheme of respective bank on offer at the time of application.

State Bank Of India


A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.s

Eligible Courses :

All courses having employment prospects are eligible.

a . Graduation courses/ Post graduation courses/ Professional courses

b . Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan :

  1. Fees payable to college/school/hostel.
  2. Examination/Library/Laboratory fees.
  3. Purchase of Books/Equipment/Instruments/Uniforms.
  4. Caution Deposit/Building Fund/Refundable Deposit.
  5. Travel Expenses/Passage money for studies abroad.
  6. Purchase of computers considered necessary for completion of course.
  7. Cost of a Two-wheeler upto Rs. 50,000/-.

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

Amount of Loan :

For studies in India , maximum Rs. 10 lacs
Studies abroad, maximum Rs. 20 lacs

Interest Rate :

For loans up to Rs 4 lakh 10.50% p.a.

For loans above Rs. 4 lakh 11.50% p.a.

Processing Fees :

No processing fee/ upfront charges.

Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money.

Repayment Tenure :

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

Place of Study Loan AmountRepayment Period in Years :

In India Up to Rs. 7.5 lacs 5-7

Above Rs. 7.5 lacs 5-10

Abroad Up to Rs. 15 lacs 5-7

Above Rs. 15 lacs 5-10

Security :


Studies In India

Studies Abroad

Upto Rs. 4 lacs

No Security

No Security

Above Rs. 4 lacs to Rs. 7.50 lacs

Third Party Guarantee

Third Party Guarantee

Above Rs. 7.50 lacs to Rs. 10 lacs( India )/ Rs. 15 lacs(Abroad)

Tangible Collateral security for full value of loan

Tangible Collateral security of suitable value of loan or third party guarantee

Rs 15 lacs to Rs. 20 lacs


Tangible Collateral security for full value of loan

Margin :

For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs:
Studies in India : 5%
Studies Abroad: 15%

Documentation Required :

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)


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