#1
4th December 2015, 08:36 AM
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What are the steps in the student loan process
I want to apply for the education loan from the State Bank of India so please tell me the steps in the student loan process?
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#2
4th December 2015, 09:22 AM
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Re: What are the steps in the student loan process
State Bank of India is one of the largest Public Sector bank of India it provides student education loan Purpose for which a student can apply for education loan are:- Tuition and other fees Maintenance costs, books & equipments, etc. Cost of passage (for studies abroad) Caution fund/building fund/refundable deposit. Eligibility for apply Student education loan Candidate should be an India National Secured admission to professional/ technical courses through Entrance Test/ Selection process Secured admission to foreign university/ Institution Maximum amount of education loan: 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 1. Studies in India: 5% 2. Studies Abroad: 15% Student Loan rate of Interest State bank of India apply lowest interest on the students loan provided by it. Amount of Student education loan Interest Rate Loans upto Rs.4 lacs 12.00 %p.a. Loans over Rs.4 lacs 13.00 % p.a Documents Required: Mark sheet of last qualifying examination for school and graduate studies in India Proof of admission to the course Schedule of expenses for the course Copies of letter confirming scholarship, etc Copies of foreign exchange permit, if applicable. 2 passport size photographs Statement of Bank account for the last six months of borrower Income tax assessment order not more than 2 years old Brief statement of assets and liabilities of borrower If you are not an existing bank customer you would also need to establish your identity and give proof of residence. |