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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.

Eligible Courses :

Studies in India :

. Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc.

a . Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc

b . Teacher training/ Nursing courses approved by Central government or the State Government.

c . Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority.

Studies abroad :

. Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities.

a . Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.

Expenses considered for loan :

  1. Fees payable to college/school/hostel.
  2. Examination/Library/Laboratory fees.
  3. Purchase of Books/Equipment/Instruments/Uniforms,Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course).
  4. Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course).
  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

CLICK HERE for Rate Of Interest


For loans up to Rs.7.5 Lacs: Nil.

For loans Above Rs. 7.5 Lacs : 5% for studies in India, 15% for studies abroad.

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.

Loan to be repaid in 15 years after the commencement of repayment :

In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course :

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

EMI Generation:

The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).

If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.

Security :



Upto Rs. 7.5 Lacs

Only Parent/ Guardian as co-borrower.No Collateral Security or third party guarantee.

Above Rs. 7.5 Lacs

Parent/ Guardian as co-borrower and tangible collateral security

  • *In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law

Margin :

For loans Up to Rs. 7.5 Lacs : No Margin
For loans Above Rs. 7.5 Lacs:
Studies in India : 5%
Studies Abroad: 15%

Documentation Required :

Letter of admission.
Completely filled in Loan Application Form
2 passport size photographs
Statement of cost of study
PAN Card of the student and Parent/ Guardian
AADHAR Card of the student and Parent/ Guardian
Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
Student/Co-borrower/ guarantor's bank account statement for last 6 months
IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower