Education Loan in State Bank of India ( SBI )

Education Loan in State Bank of India ( SBI )

State Bank of India Education Loan

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses : All courses having employment prospects are eligible.

• Graduation courses / Post graduation courses / Professional courses.
• Other courses approved by UGC / Government / AICTE etc.

Expenses considered for SBI Education loans :

• Fees payable to college / school / hostel.
• Examination / Library / Laboratory fees.
• Purchase of Books / Equipment / Instruments / Uniforms.
• Caution Deposit / Building Fund / Refundable Deposit ( maximum 10% tution fees for the entire course ).
• Travel Expenses / Passage money for studies abroad.
• Purchase of computers considered necessary for completion of course.
• Cost of a Two wheeler upto 50,000/-.
• Any other expenses required to complete the course like study tours, project work etc.

Amount of SBI Bank Education Loan :

• For studies in India, maximum 10 lacs.
• Studies abroad, maximum 20 lacs.

State Bank of India Interest Rates : w.e.f. 29.06.2009 ( SBAR 11.75% )

SBI Student Loan Scheme

Rank	Name of the B-Schools	Infrastructure ( Physical & Academic ) ( 160 )	Faculty, Research, Consultancy, MDP & Other Programmes ( 455 )	Admission, Curriculum, & Delivery System ( 320 )	Placement ( Domestic & International ), USP, Social Responsibility, Networking & Industry Interface ( 465 )	Total ( 1400 )
21.	International School of Informatics & Management, Jaipur, Rajasthan	84.89	184.79	159.17	174.93	603.78
22.	Suryadatta Group of Institutes, Pune, Maharashtra	100.37	166.50	158.86	171.95	597.68
23.	Institute of Business Studies and Research, Navi Mumbai, Maharashtra	83.26	171.58	170.75	169.77	595.36
24.	Department of Management Studies, National Institute of Technology, Tiruchirappalli, Tamil Nadu	82.69	172.97	172.63	152.92	581.21

An Interest Rate concession of 0.50% to Girl Student availing SBI Student Loans.

SBI Educational Loan Processing Fees :

• No processing fee / upfront charges.
• Deposit of 5000/- for education loan for studies abroad which will be adjusted in the margin money.

SBI Repayment Tenure : Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

S.No	Particulars	Date
1.	KVAFSU MBA 2015 Notification in Newspapers	03rd July, 2015
2.	Uploading of KVAFSU MBA Prospectus & Applications on University website www.kvafsu.kar.nic.in	04th July, 2015
3.	Last Date for receipt / Submission of KVAFSU MBA filled - in Applications 2015	07th August, 2015
4.	KVAFSU MBA 2015 Written Test, Group discussion and interview at DEBM, Dairy Science College, KVAFSU, Hebbal Campus, Bangalore	17th August, 2015
5.	Announcement of Merit list & KVAFSU Counseling cum Admission	17th August, 2015
6.	Commencement of the First Semester 2015 - 2016	20th August, 2015

SBI Security for Educational Loan

Rank	Name of the B-Schools	Infrastructure ( Physical & Academic ) ( 160 )	Faculty, Research, Consultancy, MDP & Other Programmes ( 455 )	Admission, Curriculum, & Delivery System ( 320 )	Placement ( Domestic & International ), USP, Social Responsibility, Networking & Industry Interface ( 465 )	Total ( 1400 )
50.	Prestige Institute of Management, Gwalior, Madhya Pradesh	61.85	106.81	141.58	121.82	432.07
51.	Kristu Jayanti College, Bengaluru, Karnataka	64.86	108.78	119.57	127.34	420.54
52.	Taxila Business School, Jaipur, Rajasthan	44.85	111.95	124.59	135.14	416.53
53.	Prestige Institute of Management, Dewas, Madhya Pradesh	51.19	120.65	117.30	122.88	412.03
54.	Aloysius Institute of Business Administration, Mangalore, Karnataka	70.59	106.23	125.23	105.34	407.4
55.	Sona School of Management, Salem, Tamil Nadu	48.68	120.54	132.05	98.99	400.26
56.	Centre for Management Technology, Greater Noida, Uttar Pradesh	51.40	71.89	108.48	162.59	394.36
57.	Rai Business School, Chennai, Tamil Nadu	46.63	107.57	110.38	125.59	390.17
58.	Institute of Management in Kerala, University of Kerala, Thiruvananthapuram, Kerala	49.45	120.14	110.79	107.52	387.89
59.	Rai Business School ( RBS ), Bengaluru, Karnataka	54.07	94.64	117.96	117.95	384.62
60.	KLS Institute of Management Education & Research ( KLS IMER ), Belgaum, Karnataka	49.30	115.47	122.52	93.43	380.72
61.	St. Joseph\'s PG. College, Hyderabad, Andhra Pradesh	35.27	125.61	118.76	98.53	378.18
62.	North Eastern Regional Institute of Management ( NERIM ), Guwahati, Assam	55.63	92.26	103.65	121.87	373.41
63.	Mahakal Institute of Management, Ujjain, Madhya Pradesh	55.08	80.22	126.26	101.56	363.11
64.	Centre for Management Studies ( JIS College of Engineering ), Kalyani, West Bengal	46.92	74.89	110.98	127.86	360.65
65.	Rai Business School, Bhopal, Madhya Pradesh	44.12	89.39	106.41	117.02	356.95
66.	M.O.P. Vaishnav College for Women, Chennai, Tamil Nadu	47.44	86.89	112.90	105.87	353.10
67.	Rai Business School, Hyderabad, Andhra Pradesh	43.55	83.77	114.04	106.69	348.05
68.	Algol School of Management and Technology, Gurgaon, Haryana	45.99	70.08	106.71	110.87	333.65

All SBI loans should be secured by parent ( s ) / guardian of the student borrower. In case of married person, co – obligator can be either spouse or the parent ( s ) / parents – in – law.

State Bank of India Education Loan Margin

• For loans up to 4.0 lacs : No Margin
• For loans above 4.0 lacs :
1. Studies in India : 5%
2. Studies Abroad : 15%

SBI Documentation Required for Educational Loan

• Completed Education Loan Application Form.
• Mark sheets of last qualifying examination.
• Proof of admission scholarship, studentship etc.
• Schedule of expenses for the specified course.
• 2 passport size photographs.
• Borrower’s Bank account statement for the last six months.
• Income tax assessment order, of last 2 years.
• Brief statement of assets and liabilities, of the Co – borrower.
• Proof of Income ( i.e. Salary slips / Form 16 etc ).

*Conditions Apply