#1
9th November 2017, 01:52 PM
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SBI Education Loan EMI Calculator
Can you provide me the details of the Education Loan offered by SBI (State Bank of India) as I want to apply for it for my children education?
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#2
10th November 2017, 09:00 AM
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Re: SBI Education Loan EMI Calculator
SBI (State Bank of India) 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. A separate loan scheme is offered for pursuing vocational education and training in India. 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 of Education Loan: 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: SBI Student Loan Scheme Loan Amount Rate of Interest 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 Processing Fee: No processing fee is charged for SBI education loans. Repayment Tenure: SBI Student Loans Maximum Loan Amount Repayment Period Up to Rs.4 lakhs Up to 10 years Above Rs.4 lakhs to up to Rs.7.5 lakhs Up to 10 years Above Rs.7.5 lakhs Up to 12 years |