SBI Education Loan Higher Studies Abroad

Hello sir I have done Graduation and now want to go Abroad for Higher Studies and therefore want to apply for Education Loan so will you please provide me details of the SBI Education Loan so will you please provide me the same??

[Shaleen]

State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

As per your demand here I am providing you details of the SBI Education Loan

Purpose for which the loan can be availed:
The loan will be sanctioned for extending financial assistance to deserving / meritorious students for pursuing higher education in India and abroad.

[B]Courses Eligible:
Studies abroad:[/B]
-Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities
-Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.

[B]Student Eligibility:[/B]

-Should be an Indian National

-Secured admission to Professional/Technical courses through Entrance
Test/Selection process.

-Secured admission to foreign university/Institutions.

-No minimum qualifying marks stipulated in the last qualifying examination

[B]

Expenses Considered for Loan:[/B]

-Fee payable to college/school/hostel: Where the student will be making his
own boarding and lodging arrangements, the sanctioning authority is
authorized to fund boarding and lodging expenses on the basis of estimate
submitted by the student/ parent, provided such expenses are not more than
those charged by the educational institution for boarders.

-Examination/Library/Laboratory fee.

-Purchase of books/ equipments/ instruments/ uniforms, Purchase of
computers - essential for completion of the course.

-Any other expense required to complete the course - like study tours,
project work, thesis, etc. considered for loan is capped at 20% of the total
tuition fees payable for completion of the course.

-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.

-Travel expenses/passage money for studies abroad.

-Cost of a two-wheeler upto Rs. 50,000 can be included in the expenses
considered eligible for finance where the loan amount is secured by a
suitable third party guarantee and/or tangible collateral security. Two-
wheeler can be necessary in some cases where hostel and college are far
apart

-Premium of the insurance policy covering the life of the borrower for loan



5. Maximum Loan Amount:

Studies Abroad - Maximum Rs. 30.00 lacs

[B]Interest Charges:[/B]
For loans upto Rs.4 lacs: 3.50% above Base Rate, currently: 13.50% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs : 3.75% above Base Rate, currently 13.75% p.a.
Above Rs.7.50 lacs: 1.75% above Base Rate, currently 11.75% p.a.


[B]SBI Education Loan[/B]
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