State Bank of Mysore

Gnanamitra - Educational Loan Scheme

To enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.

Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer courses accredited by DOEACC.

School / College going students in India 10000 to 1.00 lac
Higher Education- In India 10000 to 7.50 lacs
Higher Education- Abroad 10000 to 15.00 lacs

Upto Rs. 4.00 lacs -------- nil
Above Rs. 4.00 lacs
For studies in India -- 5%
For studies abroad -- 15%

Upto Rs. 4.00 lacs 12.50%
Above Rs. 4.00 lacs 13.50%

Upto Rs. 4.00 lacs at Bank PTLR; above Rs. 4.00lacs @PTLR+1%
Interest Rates: Schemes and Interest Rates are subject to changes from time to time.

Completion of course + 1 year or 6 months after getting a job, whichever is earlier.

The interest to be debited quarterly / half yearly on simple basis during the repayment holiday / moratorium period.

Penal interest @2% will be charged for amount above Rs.4 lacs for the overdue amount and overdue period.

State Bank of Mysore