Education Loan in State Bank of India ( SBI )

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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

RankName of the B-SchoolsInfrastructure ( 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, Rajasthan84.89184.79159.17174.93603.78
22.Suryadatta Group of Institutes, Pune, Maharashtra100.37166.50158.86171.95597.68
23.Institute of Business Studies and Research, Navi Mumbai, Maharashtra83.26171.58170.75169.77595.36
24.Department of Management Studies, National Institute of Technology, Tiruchirappalli, Tamil Nadu82.69172.97172.63152.92581.21

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.

1.KVAFSU MBA 2015 Notification in Newspapers03rd July, 2015
2.Uploading of KVAFSU MBA Prospectus & Applications on University website www.kvafsu.kar.nic.in04th July, 2015
3.Last Date for receipt / Submission of KVAFSU MBA filled - in Applications 201507th 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 - 201620th August, 2015

SBI Security for Educational Loan

RankName of the B-SchoolsInfrastructure ( 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 Pradesh61.85106.81141.58121.82432.07
51.Kristu Jayanti College, Bengaluru, Karnataka64.86108.78119.57127.34420.54
52.Taxila Business School, Jaipur, Rajasthan44.85111.95124.59135.14416.53
53.Prestige Institute of Management, Dewas, Madhya Pradesh51.19120.65117.30122.88412.03
54.Aloysius Institute of Business Administration, Mangalore, Karnataka70.59106.23125.23105.34407.4
55.Sona School of Management, Salem, Tamil Nadu48.68120.54132.0598.99400.26
56.Centre for Management Technology, Greater Noida, Uttar Pradesh51.4071.89108.48162.59394.36
57.Rai Business School, Chennai, Tamil Nadu46.63107.57110.38125.59390.17
58.Institute of Management in Kerala, University of Kerala, Thiruvananthapuram, Kerala49.45120.14110.79107.52387.89
59.Rai Business School ( RBS ), Bengaluru, Karnataka54.0794.64117.96117.95384.62
60.KLS Institute of Management Education & Research ( KLS IMER ), Belgaum, Karnataka49.30115.47122.5293.43380.72
61.St. Joseph's PG. College, Hyderabad, Andhra Pradesh35.27125.61118.7698.53378.18
62.North Eastern Regional Institute of Management ( NERIM ), Guwahati, Assam55.6392.26103.65121.87373.41
63.Mahakal Institute of Management, Ujjain, Madhya Pradesh55.0880.22126.26101.56363.11
64.Centre for Management Studies ( JIS College of Engineering ), Kalyani, West Bengal46.9274.89110.98127.86360.65
65.Rai Business School, Bhopal, Madhya Pradesh44.1289.39106.41117.02356.95
66.M.O.P. Vaishnav College for Women, Chennai, Tamil Nadu47.4486.89112.90105.87353.10
67.Rai Business School, Hyderabad, Andhra Pradesh43.5583.77114.04106.69348.05
68.Algol School of Management and Technology, Gurgaon, Haryana45.9970.08106.71110.87333.65

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

JEE Main

Application Form Submission 16 Dec 2020 to 16 Jan 2021.