I Need Education Loan

Hello sir I need Education Loan and therefore I am here as I want to get the details of the Student Loan Scheme of State Bank of India so will you please provide me the details??

[Pathak]

State Bank of India is an Indian multinational financial services company that was founded in 1921. State Bank of India has an operational presence of over 14,000 branches in India serving millions of happy customers

SBI Student Loan scheme is offered to Indian nations for pursuing higher studies in India or at a foreign institution. SBI Scholar Loan scheme is offered to students who have secured admissions in premier Indian institutions

Eligibility:

The applicant should be an Indian national and should have secured an admission in a recognized educational institution.


Expenses Considered for SBI Education Loan:

The following expenses are covered for both the student loan scheme and loan for vocational education.
-Tuition and course fee
-Examination, library and laboratory fees
-Caution deposit
-Cost of books, equipment and other instruments.

The following expenses are considered only for the student loan scheme and not for the vocational training loan.
-Cost of a two wheeler up to Rs.50,000
-Travel expenses and passage money for abroad studies
-Caution deposit, building fund and other refundable deposit which amounts up to 10% of the tuition fees for the entire semester
-Any other expenses required to complete the coursework like study tours, thesis, project etc.

Amount:
A maximum of Rs.10 lakhs is offered for studies in India.
For studies abroad, a maximum of Rs.30 lakhs is offered as loan.

Interest Rates:
Up to Rs.4 lakhs: 3.50% above base rate
Above Rs.4 lakhs and up to Rs.7.5 lakhs: 3.75% above base rate
Above Rs.7.50 lakhs: 1.75% above base rate

Documentation required:
-Letter of admission
-Duly filled and signed loan application form
-2 recent passport size photographs
-Statement of cost of study
-PAN Card, AADHAR card of student and parent/guardian
-Proof of identity and proof of residence
-IT returns or IT assessment order of previous two years of the co-borrower
-Statement of assets and liabilities of parent/guardian
-Proof of income of parent/guardian