State Bank of India Education Loan

Can you please give here detail about the education loan scheme of State Bank of India , I want to know about this scheme of bank ?

[Rajkumar Agarwal]

State Bank of India offers SBI education / Student loan Scheme for providing financial help for higher study .

SBI Education / Student loan Scheme:

Eligibility:
Loan granted to Indian Nationals for pursuing higher education in India or abroad .

Candidate has been secured admission.

Courses Covered:

Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc

Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc

Teacher training/ Nursing courses

Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director
General of Civil Aviation/Shipping/ concerned regulatory authority

Studies abroad:
Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc

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

Loan Amount
For studies in India –
maximum Rs. 10 lacs

Studies abroad –
maximum Rs. 20 lacs

Margin
Upto Rs.7.5 Lacs:
Nil

Above Rs. 7.5 Lacs :
5% for studies in India, 15% for studies abroad

Repayment:
Repayment will commence one year after completion of course.

Loan to be repaid in 15 years after the commencement of repayment

Documents Required
Letter of admission

Completely filled in Loan Application Form

2 passport size photographs

Statement of cost of study

PAN Card of the student and Parent/ Guardian

AADHAR Card

Proof of identity

Proof of residence

Student/Co-borrower/ guarantor's bank account statement for last 6 months

Proof of income