SBI Education Loans (State Bank of India Education Loans) 2023: 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%.
Contact Details
Call – 1800110009 / 18004253800
Official Website – SBI Education Loans
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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
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.
Studies abroad – SBI Global ED-Vantage
Maximum loan amount more than 1.5 crores
Repayment period up to 15 years after completion of the course with 12 months grace period.
Processing fee applied – Rs.10,000
Tax Benefit under section 80(E)
Interest rates applied 6.65%- 8.65% pa
Online application process
Skill Loan
Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
Loan Repayment
Up to 50,000 – 3 years
50,000 to 1 lakh – 5 years
More than 1 lakh – 7 years
No collateral needed
Processing fee applied – NIL.
Interest rates applied 6.65%- 8.15% pa
Takeover Education Loan
- Switch your education loan to SBI and you can reduce your EMIs
- Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
- Repayment period up to 15 years after completion of the course with 12 months grace period.
- Processing fee applied – NIL.
- Interest rates applied 6.65%- 8.65% pa
- For Girls 0.5% discount on interest rate
Eligible Courses for studying abroad
- Regular Graduate Degrees
- Regular Post-Graduate Degrees
- Certificate Courses
- Doctorate
- Diploma Courses
How to Apply for SBI Education Loans
- Offline Application
- Visit your nearest SBI branch.
- Take all the required documents with you.
- Understand the terms and conditions applied.
- Fill out the application form and submit it.
Online Application
- Go to the SBI website
- Click on loans, Select Education loans
- 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
- 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.
