SBI Education Loan Fastest Approval




You can take SBI education loan in just three steps. You can take education loan under SBI Student Loan Scheme, SBI Scholar Loan Scheme, SBI Global Ed-Vantage Scheme and SBI loan for Vocational/ Skill Development Courses. If Indian Nationals wants to take the loan for pursuing higher education in India or abroad then you can take the loan under SBI Student loan scheme. The Students securing admission in IITs, IIMs, NITs, AIIMS and other reputed institutions they can also take the loan under SBI Scholar Loan Scheme. Same as SBI provides a loan to extend financial assistance to deserving or meritorious students for pursuing full-time regular courses in foreign colleges or universities under SBI Global Ed-Vantage Scheme. SBI also provides loan for Vocational/ Skill Development Courses to those students who want to pursue Vocational Education and Training in India.

Education loan is the best way to complete your dream if you are in trouble in respect of money. In online mode, you can get instant approval for the state bank of India education loan. You can check complete details for SBI various education loan, like- Eligibility, Courses Covered, Expenses Covered, Loan Amount & Security, Repayment, EMI Generation and Documents Required from below information.

Online SBI Student Loan Scheme-Complete details (Eligibility, Courses Covered, Expenses Covered, Loan Amount & Security, Repayment, EMI Generation and Documents Required)

Online SBI Student loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured. So you can take the loan under this category in an easy way. You can repay the loan amount in a period of up to 15 years after Course Period + 12 months of repayment holiday and you will also happy to know that no processing or upfront charges will be levied on Education loans.

state bank education loan

Eligibility for ‘Online SBI Student Loan Scheme’

Courses Covered:

1) Studies in India continental:

  • You can do graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc.
  • You can do studies for regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc.
  • Course for teacher training/ nursing courses approved by Central government or the State Government.
  • Course for regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority.

2) Studies abroad/ outside India:Education related to job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities.

Many courses conducted by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in USA etc.

Expenses Covered under SBI Edu loan:

  • Course fees payable to college/school/hostel.
  • All types of fee, like-examination/Library/Laboratory fees.
  • Expenses covered for 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).
  • Any caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course).
  • Expenses covered for Travel Expenses/Passage money for studies abroad.
  • Cost of a Two-wheeler upto Rs. 50,000/-.
  • Any other expenses required to complete the course like study tours, project work etc.
Loan Amount given:

  • For studies in India you can get maximum Rs. 10 lacs.
  • For Studies abroad you can get maximum Rs. 30 lacs.
Security criteria:

  • Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee under SBI Student loan scheme.
  • Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and tangible collateral security given under SBI Student loan scheme.
  • Note: In case of married person, co-obligator can be spouse or the parent(s)/ parents-in-law.
Margin:

  • Upto Rs.7.5 Lacs: Nil
  • Above Rs. 7.5 Lacs: 5% for studies in India and 15% for studies abroad under SBI Student loan scheme.
Repayment details:

  • To pay loan amount, time will commence one year after completion of course.
  • You can pay loan amount in 15 years after the commencement of repayment.
  • In case second loan is availed for higher studies later then to repay the combined loan amount in 15 years after completion of second course
EMI Generation details:

  • You will have to pay fixed in Equated Monthly Installments (EMI) as the accrued interest during the moratorium period and course period is added to the principle.
  • You should also know that EMI is fixed based on principle amount only, If full interest is serviced before the commencement of repayment.
Documents Required for loan:

  • You will have to provide Letter of admission with completely filled in Loan Application Form.
  • You need to give 2 passport size photographs.
  • Provide Statement of cost of study.
  • PAN Card of the student and Parent/ Guardian is also an important document to provide for loan.
  • Provide AADHAR Card of the student and Parent/ Guardian.
  • Submit Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity).
  • Proofs of residence submit with loan form (Driving License/Passport/Electricity bill/Telephone bill).
  • Bank account statements for last 6 months also submit by Student/Co-borrower/ guarantor.
  • Give details of IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee).
  • Give Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower.
  • You have to provide your Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower.

Online SBI Scholar Loan Scheme-Complete details (Eligibility, Courses Covered, Expenses Covered, Loan Amount & Security, Repayment, EMI Generation and Documents Required)

If you want to take the loan for pursuing higher education in Indian institutions then you can check the list of 105 institutions. You can take the maximum loan up to 30 lacs without collateral. You can do 100% financing with zero processing fee with quick sanction at Designated Campus Branch or more than 5000 Selected Branches all over the country. You can also get an easy option to repay loan amount up to 15 years after Course Period + 12 months of repayment holiday. You can get details about SBI Scholar loan Scheme from given information.

Eligibility for ‘SBI Scholar Loan Scheme’:

Sanction of Term Loan to students or we can simply say Indian Nationals for pursuing higher education in India in the Selected 105 Premier Institutions.

Courses Covered under ‘Online SBI Scholar Loan Scheme’:

  • You can take ‘SBI Scholar Loan’ for Regular full time Degree / Diploma Courses through entrance test/ selection process.
  • You can also take loan for full time Executive Management Courses like PGPX.
  • v No Certificate/ Part time courses for this.
Expenses Covered under ‘Online SBI Scholar Loan Scheme’:

  • Loan provided you to give fees of College/School/Hostel.
  • Examination/ Library/ Laboratory fees covered under this loan scheme.
  • You can purchase of Books/Equipments/Instruments etc.
  • Caution deposit / building fund/ refundable deposit supported by Institution bills/ receipts [not to exceed 10% of the tuition fees for the entire course].
  • Travel expenses/expenses on exchange programme are also available.
  • Purchase of computer/laptop and other accessories.
  • Any other expenses related to education include in this.
  • You should know that no voucher/ receipt required, purpose (end use) need to be self-certified.
  • You should also know that expenditure not to exceed 25% of the loan amount (up to a lump sum amount of max Rs. 1 Lac).
  • Expenditure beyond 25% cap permitted subject to production of voucher/ receipt.
Loan Amount & Security ‘Online SBI Scholar Loan Scheme’
Category/list Maximum Loan Limit for various category
No Security needed, only Parent/ Guardian as co-borrower Take loan with tangible collateral of full value and Parent/ Guardian as co-borrower
List-AA Rs. 30 lacs
List-A Rs. 20 lacs Rs. 30 lacs
List-B Rs. 20 lacs
List-C Rs. 7.5 lacs Rs. 30 lacs
Note: if a person is married then co-obligate or can be spouse or the Parent(s)/ Parent(s)-in-law.
 
Repayment details:

  • Repay loan amount in 15 years, after the course completion + 12 months.
  • In case if you have taken second loan for higher studies later, then you can repay the combined loan amount in 15 years after completion of second course.
 
EMI Generation details:

  • You will have to pay fixed in Equated Monthly Installments (EMI) as the accrued interest during the moratorium period and course period is added to the principle.
  • You should also know that EMI is fixed based on principle amount only, If full interest is serviced before the commencement of repayment.
 
Documents Required for loan:

  • You will have to provide Letter of admission with completely filled in Loan Application Form.
  • You need to give 2 passport size photographs.
  • Provide Statement of cost of study.
  • PAN Card of the student and Parent/ Guardian is also an important document to provide for loan.
  • Provide AADHAR Card of the student and Parent/ Guardian.
  • Submit Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity).
  • Proofs of residence submit with loan form (Driving License/Passport/Electricity bill/Telephone bill).
  • Bank account statements for last 6 months also submit by Student/Co-borrower/ guarantor.
  • Give details of IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee).
  • Give Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower.
  • You have to provide your Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower.

 

Online SBI Global Ed-Vantage Scheme-Complete details (Eligibility, Courses Covered, Expenses Covered, Loan Amount, Repayment, Processing Fee and Documents Required)

The purpose of the loan scheme is to extend financial assistance to deserving or meritorious students for pursuing full time regular courses in foreign colleges or universities.

Eligible Courses to Studies Abroad

  • You can do regular full time courses for Graduate/Post Graduate/Doctorate Courses in Science, Technology, Engineering, Mathematics, Medicine and Management in institutions/ universities of USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
 
Eligible Expenses under ‘SBI Global Ed-Vantage Scheme’

  • Expenses covered under Fee payable to college/school/hostel.
  • Expenses covered for Examination/Library/Laboratory fee.
  • Travel expenses or passage money for studies abroad.
  • Purchase of books, equipments, instruments, uniforms, computer and many other necessary things at reasonable cost, if required for course completion and any other expense required to complete the course – like study tours, project work, thesis, etc. can be considered for loan subject to the condition that these should be capped at 20% of the total tuition fees payable for completion of the course.
  • You should also know that caution deposit /building fund/refundable deposit supported by Institution bills/receipts the amount considered for loan should not exceed 10% of the tuition fees for the entire course.
  • You should also know that premium of ‘RiNn Rakhsha’ (IRDA License No: UIN: 111N078V01): Finance for ‘RiNn Rakhsha’ will improve insurance-coverage of the loan.
 
Loan amount for education:

  • Minimum Loan Amount you can avail is Rs. 20 Lacs.
  • Maximum Loan Amount you can avail is Rs. 1.5 Cr.
 
Margin details:

  • Any type of scholarship or assistantship to be include in the margin.
  • Margin to be brought in yearly basis, when disbursements are made on a pro-rata basis.
Processing Fee charges:

  • Rs. 10,000/- processing fee charges as per application.
 
Sanction & Disbursement about loan:

  • The loan application will be accepted at selected and at identified Branches only. List of Identified Branches you can check in below table.
 
Security details:

  • Tangible collateral security in this loan process.
  • You should also know that collateral security offered by Third Party (other than parents) can also be accepted.
 
Repayment And Repayment Holiday (Moratorium detail)

  • Your accrued interest during the moratorium to be added to the principal and repayment in EMI fixed till last.
  • Repayment of the loan amount will commence six months after completion of course.
  • You can repay loan amount upto maximum of 15 years.
  • You will have to give a tenor premium of 1% in case of repayment period of more than 10 years.
 
Documents Required for loan:

  • You will have to provide Letter of admission with completely filled in Loan Application Form.
  • You need to give 2 passport size photographs.
  • Provide Statement of cost of study.
  • PAN Card of the student and Parent/ Guardian is also an important document to provide for loan.
  • Provide AADHAR Card of the student and Parent/ Guardian.
  • Submit Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity).
  • Proofs of residence submit with loan form (Driving License/Passport/Electricity bill/Telephone bill).
  • Bank account statements for last 6 months also submit by Student/Co-borrower/ guarantor.
  • Give details of IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee).
  • Give Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower.
  • You have to provide your Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower.
 

 



Identified Branches for SBI Global Ed-Vantage Scheme loan

S.NO CIRCLE/ AREA BRANCH CODE BRANCH NAME
1 AHMEDABAD 60129 SPL. PBB BRANCH AHMEDABAD
2 AHMEDABAD 1355 GANDHINAGAR MAIN BRANCH
3 AHMEDABAD 3321 ALKAPURI
4 AHMEDABAD 488 SURAT MAIN BRANCH
5 AHMEDABAD 463 RAJKOT
6 BANGALORE 3286 JAYANAGARA II BLOCK BENGALURU
7 BANGALORE 963 JALAHALLI BENGALURU
8 BANGALORE 1438 DOORVANI NAGAR BENGALURU
9 BANGALORE 1114 H A L BENGALURU
10 BANGALORE 4163 PBB KORAMANGALA
11 BANGALORE 871 MANGALORE MAIN
12 BANGALORE 4426 MANIPAL BRANCH
13 BANGALORE 4815 NAL BENGALURU
14 BANGALORE 6866 SPB BENGALURU
15 BANGALORE 9044 ELECTRONIC CITY BENGALURU
16 BHOPAL 387 INDORE MAIN BR.
17 BHOPAL 390 JABALPUR MAIN
18 BHOPAL 461 MAIN BR. RAIPUR
19 BHOPAL 330 BHILAI MAIN
20 BHOPAL 1308 BHOPAL MAIN
21 BHOPAL 2819 BALCO TOWNSHIP KORBA
22 BHOPAL 4352 GWALIOR MAIN
23 BHUBANESWAR 41 BHUBANESWAR
24 BHUBANESWAR 59 CUTTACK
25 BHUBANESWAR 171 ROURKELA
26 BHUBANESWAR 175 SAMBALPUR
27 BHUBANESWAR 1304 SUNABEDA
28 CHANDIGARH 628 CHANDIGARH MAIN BRANCH
29 CHANDIGARH 1637 PATIALA MAIN BRANCH
30 CHANDIGARH 674 CIVIL LINES LUDHIANA
31 CHANDIGARH 4172 PB PANCHKULA
32 CHANDIGARH 657 JAMMU
33 CHENNAI 1176 NUNGAMBAKKAM
34 CHENNAI 1020 T NAGAR
35 CHENNAI 947 VELLORE
36 CHENNAI 900 PONDICHERRY
37 CHENNAI 827 COIMBATORE
38 CHENNAI 881 NAMAKKAL
39 CHENNAI 837 ERODE
40 CHENNAI 869 MADURAI
41 CHENNAI 951 VIRUDHUNAGAR
42 CHENNAI 930 TIRUCHIRAPALLI
43 CHENNAI 11654 NRI ADAYAR-GANDHI NAGAR
44 CHENNAI 13242 RAJAJI SALAI
45 DELHI 3219 SOUTH EXTENSION
46 DELHI 4449 SUSHANT LOK, GURGAON
47 DELHI 4041 PBB PARLIAMENT STREET
48 DELHI 1077 IIT DELHI
49 DELHI 1069 IIT ROORKEE
50 DELHI 630 DEHRADUN MAIN BRANCH
51 DELHI 4264 PBB NOIDA
52 DELHI 602 AGRA
53 DELHI 1533 UDAIPUR
54 DELHI 656 JAIPUR
55 DELHI 659 JODHPUR
56 GUWAHATI 181 SHILLONG
57 GUWAHATI 78 GUWAHATI
58 HYDERABAD 844 GUNTUR MAIN BRANCH
59 HYDERABAD 1163 NELLORE TOWN BRANCH
60 HYDERABAD 952 VISAKHAPATNAM MAIN BRANCH
61 HYDERABAD 916 SECUNDERABAD
62 HYDERABAD 1880 OLD MLA QUARTERS
63 HYDERABAD 5916 H U CAMPUS
64 HYDERABAD 948 VIJAYAVADA
65 HYDERABAD 4355 PBB RAJAHMUNDRY
66 HYDERABAD 933 TIRUPATI
67 HYDERABAD 830 CUDDAPAH
68 HYDERABAD 866 KURNOOL
69 KERALA 941 TRIVANDRUM
70 KERALA 903 KOLLAM
71 KERALA 3299 THIRUVALLA
72 KERALA 1015 ERNAKULAM
73 KERALA 7016 ALWAYE
74 KERALA 940 THRISUR
75 KERALA 861 KOZHIKODE
76 KOLKATA 14523 HIGH COURT SPL P.B. BRANCH
78 KOLKATA 4204 PBB SALTLAKE
79 KOLKATA 1082 KALYANI
80 KOLKATA 156 PORT BLAIR
81 KOLKATA 91 HOWRAH
82 KOLKATA 17374 HILCART ROAD SILIGURI
83 KOLKATA 74 DURGAPUR
84 LUCKNOW 682 MORADABAD
85 LUCKNOW 615 BAREILLY
86 LUCKNOW 125 LUCKNOW MAIN BRANCH
87 LUCKNOW 17614 TRIVENI
89 LUCKNOW 18404 PBB KANPUR
90 LUCKNOW 86 GORAKHPUR
91 LUCKNOW 201 VARANASI
92 MUMBAI 4650 ANDHERI WEST
93 MUMBAI 432 NAGPUR
94 MUMBAI 454 PUNE MAIN BRANCH
95 MUMBAI 4357 SPL PBB DECCAN GYMKHANA PUNE
96 MUMBAI 4102 PBB AURANGABAD
97 MUMBAI 6240 KONKAN BHAVAN
98 MUMBAI 4205 SPECIALISED PBB MUMBAI
99 MUMBAI 1716 AURANGABAD
100 MUMBAI 4234 PBB HIRANANDANI
10 MUMBAI 1975 GOREGAON EAST
102 MUMBAI 1469 NASHIK
103 PATNA 137 BHAGALPUR
104 PATNA 4070 SPB PATNA
105 PATNA 66 DHANBAD
106 PATNA 138 MUZAFFARPUR
107 PATNA 167 RANCHI
108 PATNA 246 BOKARO STEEL CITY
109 PATNA 5301 TELCO,JAMSHEDPUR

SBI Skill Loan Scheme-Complete details (Courses, Eligibility, Expenses, Amount, Repayment Tenure, Documents Required)

 

Courses and Institution Eligibility under ‘SBI Skill Loan Scheme’

  • Training Institutes/ Courses: Courses run by Industrial Training Institutes (ITIs), Polytechnics, training partners with National Skill Development Corporation (NSDC)/ Sector Skill Councils and State Skill Mission and State Skill Corporation, preferably leading to a certificate / diploma / degree provided by organization as per National Skill Qualification Framework (NSQF) are eligible for a Skilling Loan.
  • Schools recognized by Central or State Education Boards or Colleges affiliated to recognized university leading to a certificate or diploma or degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
  • There is no minimum course duration.
 
Expenses considered for loan

  • Tuition and Course Fee cover under expenses.
  • Examination and Library and Laboratory fee also in that.
  • Caution deposit covered.
  • Purchase of books, equipments and instruments and much other reasonable expenditure found necessary for completion of the Course. So as such courses are localized boarding, lodging may not be necessary. However, wherever it is found necessary, the same could be considered on merits- are cover under expenses.
 
Amount of Loan

  • Minimum Loan Amount you can avail is Rs. 5000
  • Maximum loan amount you can avail is Rs. 1, 50,000
 
Timeline for Disposal of Loan Application

  • Max. Six days, after the receipt of completed application with necessary supporting documents.
  • The time start from the date when you get receipt of complete documents from the candidate and the time taken by the applicant for submitting documents and or for prepare information sought by the Bank and it will not be taken into account for the purpose of timeline indicated above.
  • All timeline counts will be on the basis of all working days. It need for verification etc. with various authorities/ Govt. bodies across one or more centers, at least 15 additional working days will be applicable. We shall endeavor, at all times, to deliver within the indicated timelines, eccept in situations and circumstances which are beyond the control of the Bank.
  • Processing Fees: Nil
  • Margin: Nil
 
Moratorium Period
Course time/Duration Moratorium Period
· Courses of duration upto 1 year · 6 months from the completion of the course
· Courses of duration that is above 1 year · 12 months from the completion of the course
 
Repayment Tenure
Loan Amount to be paid Repayment time period in Years
Loans amount upto Rs 50,000 Upto 3 years need to pay
Loans amount between Rs 50,000 to Rs 1 lakh Upto 5 years need to pay
Loans amount above Rs. 1 lakh Upto 7 years need to pay
 
Security for loan

  • No collateral or third party guarantee will be taken on this amount.
  • Parent or Guardian will execute loan documents along with the student, as joint borrower (co-borrower). Spouse will be included as co-applicant wherever applicable, in addition to Parent/ Natural Guardian.
 
Documents Required

  • Completed Application Form submits.
  • Mark sheets of last qualifying examination are also submitted.
  • Proofs of admission scholarship, studentship also provide.
  • Schedule of expenses for the specified course.
  • Give 2 passport size photographs
  • PAN Card of the student and the Parent or Guardian or Spouse is also submitting.
  • AADHAR Card of the student and the Parent or Guardian or Spouse.
  • Borrower’s Bank account statement for the last six months also provide there.
  • Income tax Returns/ IT assessment order, of last 2 yrs of co-borrower (if IT assesses).
  • Brief statement of assets and liabilities of the Co-borrower submit.
  • Proof of Income submits if applicable.

Interest Rate

Base Rate is 9.30% w.e.f. 05.10.2015

(1)SBI Student Loan Scheme
Loan Amount under student loan scheme Rate of Interest*
For loans upto Rs.4 lacs 2% above Base Rate and hence currently 11.30% per annum
Above Rs.4 lacs and upto Rs.7.50 lacs 2% above Base Rate and hence currently 11.30% per annum
Above Rs.7.50 lacs 1.70% above Base Rate and hence currently 11.00% p.a.
  • *(0.50% concession in interest given to girl students)
  • 1% concession for full tenure of the loan will be given if interest is serviced promptly as and when applied in moratorium period, including course duration#)
  • Note: IT exemption under Section 80(E) in respect of interest paid in all kind of Education Loans.

 

(2) SBI Scholar Loan Scheme

Education Loans for Students securing admission in IITs, IIMs, NITs, AIIMS and other reputed institutions.

Rate of Interest

 

List Rate of interest
List AA Avail loan 0.40% above Base Rate and 9.70% per annum at present (Upto Rs. 30 Lacs without collateral).
List A You can avail loan 0.40% above Base Rate i.e., 9.70% per annum at present-Upto Rs. 20 Lacs without collateral and upto Rs. 30 with collateral.
List B You will have to give 0.65% above Base Rate i.e., 9.95% per annum. at present upto Rs. 20 Lacs without collateral

More concessions:

· You can get 0.25% – if collateral security >= the loan amount

· You can get 0.25% – work experience of more than 2 years

(You should note that effective rate of interest with both concessions not to be lower than 0.40% above Base Rate presently, 9.70% per annum.)

List C · 1.90% above Base rate, hence 11.20% per annum.(Upto Rs. 7.5 Lacs without collateral, upto Rs. 30 with collateral)

· 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#

  • Note: IT exemption under Section 80(E) in respect of interest paid in all Education Loans.

 

3) SBI Global Ed-Vantage loan Scheme
  • You can avail this loan at 1.70% above Base Rate and currently rate of interest is 11% p.a.
  • You can get 0.50% concession for students availing under SBI Rinn Raksha.
  • You should know that value of policy should be equivalent to the loan amount.
  • If students have a Life Insurance policy for an amount equivalent to the loan amount then concession will be extended only if the policy is assigned in favor of the Bank.
  • In this scheme 0.50% concession is given to the girl students.
  • You should know that a tenor premium of 1% will be charged in cases where repayment period (after the course completion) opted is for more than 10 years.
  • (Effective rate of interest after all concessions not to be lower than 0.70% above Base Rate presently and recently is 10% p.a.)

 

4) SBI Skill Loan Scheme

Rate of Interest check:

  • Rate of Interest is 3.90% above Base Rate and currently 13.20% p.a.
  • You can get 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#
  • Note: you can get 1% interest concession for servicing interest is available if interest is serviced promptly soon after application but not later than the following month.
  • You can also get IT exemption under Section 80(E) in respect of interest paid in all Education Loans.

Loan Feature

S.NO Loan Feature and unique advantages
1 You can get the advantage of simple Interest during Moratorium Period.
2 SBI home loan gives concession in rate of interest for girl students.
3 SBI is good for girls for regular servicing of interest during the moratorium period.
4 Second Education Loan is available for higher studies for students.
5 Education loan scheme of State Bank of India, gives flexible Repayment Period (up to 12 years).
6 This loan will gives you the benefit as Income Tax rebate under Section 80(E) in respect of interest paid.

How to Apply For Education Loan from SBI

  • First of all go to the official website of SBI.
  • You can directly visit to the State Bank education loan page with given link: onlineapply.sbi.co.in/personal-banking/education-loan
  • Here on this webpage you will have to get instant approval in just three steps: (1) Get Eligibility, (2) Offer Loan and (3) Complete Application.
  • Get eligibility by filling some basic but important details:
  • Purpose of Loan
  • Purpose of Loan*
  • Course Details
  • Country of Study*
  • Course Name*
  • Course Type*
  • University Name
  • Course Duration*
  • Institute Name*
  • Nature of Course*
  • Course Fee
  • Admission Fee
  • Tuition Fee *
  • Hostel Fee/Living Expenses
  • Examination/Lab/Library Fee
  • Purchase of Books
  • Caution Fee
  • Travel Expenses for Studies Abroad
  • Cost of Two Wheeler
  • Purchase of Computer
  • Expenses
  • Fellowship/Scholarship
  • Applicant Details
  • Last Educational Qualification*
  • Gender*
  • Work Experience*
  • State Of Residence*
  • Co-Applicant Details*
  • Relationship*
  • Contact Details
  • Mobile No.*
  • E-Mail *

(Note: * marked boxes are mandatory to fill)

  • Accept terms and conditions and click to get loan quote.
  • Get loan offer and complete the application form to get instant approval.

Contacts Information for Education Loan

Registered Office-State Bank of India
State Bank Bhavan Central Office 8th Floor,
Madame Cama Marg, Nariman Point,
Mumbai – 400021.
Maharashtra – India

Call: 1800 425 3800

Note: This webpage is completely dedicated to the State Bank - education loan. So you can bookmark this webpage and visit here again to get latest updates about education loan.


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