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Educational Loans in India By State Bank Of India

State Bank Of India

Purpose

You can take a loan for pursuing studies in recognised schools/colleges/ institutions to meet:

• Tuition and other fees
• Maintenance costs, books & equipments,etc.
• Cost of passage (for studies abroad)
• Caution fund/building fund/refundable deposit

Eligibility

• Should be an India National
• Secured admission to professional/ technical courses through Entrance Test/ Selection process
• Secured admission to foreign university/ Institution

Loan Amount

Need based finance subject to the repaying capacity of the parents/ students with margin and the following ceilings.

• studies in India - Maximum Rs.7.50 lacs
• studies Abroad - Maximum Rs.15 lacs

Margin

Upto Rs.4 lacs: No margin

Above Rs.4 lacs

• Studies in India: 5%
• Studies Abroad: 15%

Interest

Lowest interest rates
Loan Amount Interest Rate

Loans upto Rs.4 lacs SBMTLR presently 12.00 %p.a.
Loans over Rs.4 lacs 1% above SBMTLR presently 13.00 % p.a

• While interest is not required to be paid during moratorium period, payment of the same before start of repayment would entitle you to concession in interest rate applied during the repayment holiday

Repayment of loan

Repayment Holiday - Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan to be repaid in 5-7 years after commencement of repayment

Prepayments permitted without any penalty

Educational Loans by Other Banks
	Bank of India		Central Bank
	Dena Bank		Punjab National Bank
	State Bank of Hyderabad		State Bank of India
	Allahabad Bank		Bank of Baroda
	HDFC		UCO Bank
	IDBI Money Scholar		Vijaya Bank
	Indian Bank		Federal Bank Ltd.
	State Bank of Mysore		Citibank