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SBI Educational Loan

Contents

  1. What is SBI Education Loan ?
  2. What are the main criteria for applying to SBI education loan
  3. Expenses considered for SBI Education Loan
  4. What is the total Amount of Education Loan you can avail from SBI
  5. What is the Repayment Tenure for SBI education Loan
  6. Documentation Required for getting SBI Educational Loan
  7. Rate of interest in SBI Educational Loan
  8. Security required to get SBI Education Loan
  9. SBI educational loan interest rates

What is SBI Education Loan ?

SBI offers educational loan upto 10 lakh to students to avail higher education either in India or in foreign countries.

What are the main criteria for applying to SBI education loan

Eligible Courses for which SBI gives loan All courses having employment prospects are eligible.

  • Any graduation, or post graduation courses should be approved by AICTE OR UGC.
  • Any professional course by a recogised institution, and should be under the approval or UGC or AICTE.

Expenses considered for SBI Education Loan

  • A copy of the fees pay slip to college or hostel.
  • lab, library, tuition and exam fees slip.
  • Payment slip of Course books, lab equipments and college uniforms.
  • A proof of college's caution deposit and a refundable deposit.
  • You can give a payment slip of your computer only if, it is believed to be mandatory or relevant for the course taken.
  • Payment slip of the two wheeler, this can be max of 50,000.

what is the total Amount of Education Loan you can avail from SBI

  • Max of Rs.10 lac can be issued,if the study will be pursued in India.
  • Max of Rs.20 lac can be issued for the studies at overseas.

Processing Fees

  • There will be no processing fees charged for you.

What is the Repayment Tenure for SBI education Loan

  • You start the repayment within one year of your education completion or it can be repaid within 6 months of securing a job.

Also read about SBI Personal Loan

Documentation Required for getting SBI Educational Loan

  • You should submit all your course qualifying exam's marksheets.
  • Valid proof should be submitted as admission proof.
  • Passport size photographs.
  • A bank account statement of past six months should be submitted.
  • Income proof for example salary slip.

Rate of interest in SBI Educational Loan

If you have lend loan for studies then the rate of interest of your educational loan is 11.25% for loan up to 4 lacs. The rate of interest for above 4 lacs is 12.25%.

Security required to get SBI Education Loan

  • For loans upto Rs 4 lacs theres is no security needed.
  • For loans above Rs 4 lacs and up to 7.50 lacs you need, Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower".
  • Above 7.50 lacs you need Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

SBI educational loan interest rates

The interest rates for SBI Educational loan can be checked here SBI Education Loan

. For more information SBI can be contacted through 24/7 phone line number 1800112211 (toll-free number from BSNL/MTNL)

Comments

I would like to bring this to the notice of the public about how i met Anz Jackson Financing PLC after i lost my job and being denied loan by my bank and other financial institution due to my credit score. I could not pay my children's fees. I was behind on bills, about to be thrown out of the house due to my inability to pay my rent, It was during this period my kids were taken from me by foster care. Then i set out to seek for funds online where i lost $3,670 that i borrowed from friends which i was rip off by two companies. Until i read about: anzjacksonfinancingplc@yahoo.com where i was granted a loan to pay up my debts and to start up a business. You can as well give them a call or text at: +18437769340. Why am i doing this? I am doing this to save as many that are in need of a loan not to be victim of scams on the internet.

Dear Sir, I have taken an education loan form SBI in the year 2006 for the course of LL.B from IIT-Kharagpur and passed out in the year june 2010. Amount of loan was 3.9 Lakhs and now it is 5.2 Lakhs with interest. I got a job before 2 months ago. I have paid Rs. 12000/- in the last two months. Now wish to pay the installment. Bank is asking around rs. 65000/- for immediate payment. While i sm insisting upon payment of installment Rs. 7000/- per month. SBI have taken a co-guarantor and also attached my fathers name in the said loan. Is there any remedy for me so that I can pay Rs. 7000/- as a monthly installment. Looking for your early Reply. Thanking you Sajal Dutta

good morning sir, i am studying engineering second year. Am i eligible to apply for educational loan? please reply as soon as possible for which i will be much thankful to you.

sir, I am studying diploma in marine engineering.(DME) two year fees 390000 my collage name is chidambaram institute of maritime technology its eligible for bank loan pls reply sir. thank you

Good Morning Sir, I have seen all procedure of your bank, but my problem is I was took admission in ITM(Mumbai),my father(guranter) income place is Katras(Dhanbad),our permanent house is Mogra(Hooghly)where my father will come on 2012 due to retirement,i.e at that time my education is on contiuanance mode, for me where is the exact place to take loan where I can repay it easily. Please suggest me soon. Thanking you Surojit Mukherjee

dear sir, i m stding in b.tech 3rd year .i got educn loan june 2009 and amount is 2lac .wht amnt i will after pasing per munth. m i also eligible for free interest schm of cnt govt?

i got education loan from sbi for mba cousre ....it's necessary to pay the interest while pursing course.......?

dear sir, i want to state that i am chandan kishor from patna(bihar). I am a student of srm college delhi for b.tech course. I want to education loan from sbi. How can i get?

sir, my son has got selection in NIT Arunachal pradesh throuh AIEEE 2011 (Isnstitute is approved by AICTE) I visited in SBI sultanpur many times every time there is not even a single ray of hope manager is asking to pledge home papers I am getting vidow pension how can i collect the money to pay institute fee some how i deposited the addmission fee you have given up to 4 lac there is no need of any security but your bank official are asking for home papers i want to submit it also they are saying mutation is not there they are saying me if your son is not getting good job then how can you repay i am so puzzled my son is also puzzled due to their nod for education loan his study is getting affected by this sequal he is my only hope after his father please suggest me what should i do should i withdraw addmission and put his future in dark if after getting selection in good govt eng college if he can not get adu loan from SBI then what for and for whom you have made such type of facilities I am sending this type one application in consumer forum other in education ministry of india just waiting for a single hope

they should not do like that you go to police station near by that bank or ask help from media channels .. surly thay will help you .

what is the qualification criteria and marks percentage for doing m.b.a? sir plz reply me yours sincerely, satya prakash singh

sir,i m a student of BBM and want to study CA offered in my college ,my father is a tailor ant unable to afford for my fee, my father has an account in SBI i want to take education loan from SBI , i got 85% in my Tenth sslc and 87% in my PUC i want to study more but i dont have financial support so i kindly request you to help me regarding the needful...thanking you i remain.....

Sir,I'm applying for educational loan in regional SBI bank but problem is that I need 20 lakhs of loan and guarnteer is third party and not my guardian but question is that guardian is paying Income tax return but guarnteer is not paying any income tax return so is it compulsory for guarnteer to pay income tax return and guarnteer is having property of 50 lakhs as security(plot) .

sir, i have applied for loan aug 2012. i am btch at lovely professional university. However my father managed to give to semseter fee but now he is no more . when will i get my loan sir. its now time to pay next semester fees sir. please help me . thanking you abhilash

sir i got education loan from bank nd its passed but got supply in one examination. can i get next installment fees for next semester for btech?...........

Sir several times requesting for education loan to my child in our SBI kancharapalem branch, but he is not given right answer i.e., at present days our SBI branches are not given education loans,higher officials are not given permission to give education loans. please give me right answer

Sir I allot JIET collage jodhapur from rpet. I want B.Tech. Form JIET. I take loan form sbi bank

sir. I has taken education loan for my diploma course. in year 2010-2013. now I want to complte my B.E course.can I eligible to give reloan. sir please give me reply.

I took education loan for 20 lakh last year. I wish to know if I can clear the loan with in one day. And get back my mortgage FD papers with in a week of doing so.

sir, I wil taking in a admission on SRN Adarsh college in bangalore.I want to get education loan for MBA.I want to be take education loan from SBI.How can I get?

sir thanksfor ur assiatance sir still i am studying i am now 2nd puc further for higher studies i want to continue in or out of country when i refered sbi educational loan the documents r very tipical as such i am student from middle class background i dont have any collalateral security nor any bank account after completion of studies once i start earning i can start paying pls suggest me what best i can do or else i shall dream about outstation studies. sir pls suggest.

I am three year diploma holder in electrical engineering with 68.09% and I have got 64 % in my 10th standard and ilets band score 6

Sir i have completed my diploma in mechanical eng with 62% marks and i have got 82% marks in 10 th can i get the edu loan for b.e

Sir i have got 47.2% in 12 class from jac board will i get loan for my studies?I am sure i will work hard for my studies.Thankyou sir

sir i have already taken previous educational loan for my graduation which is having pending dues but can i get another educational loan for post graduation??? if yes ,can tell u tell me the procedure for taking another loan. please contact me as soon as possible.

dear sir i am 7th semester engineering student and now my father is not able to pay my college admissiom fees of 4th year but sbi bank manager is refuse to giving me loan because i am last year student. sir i am good student my 12th class % is 86. plz suggest me how can i apply to loan to get my fees.

sir mai 12th pass ho chukl he mere papa ka accident ho chuka jab mai 12 th ki tha mere pass papa mujhe padha nahi skate so pls

Hello Sir, I am a IT professional and currently working with an IT company since last 2 years, I wanted to enhance my skills and for that I have selected an IT diploma course in Canada and I have also secured 7.0 Bands in IELTS, Now I wanted to know that Am I eligible for the SBI education loan or not ? as the selected course in Diploma.

Sir, I am student of llb. I want to tak a loan. I have passed HS exam on 74.4% marks. Please sir tell me how can l gat this education loan easily?

Sir, I am student of llb. I have passed HS on 74.4%marks . I want to take a loan. Please sir tell me how can i get this loan easily?

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