State Bank of India offers Education Loan for the eligible courses, graduation courses, professional courses and courses that are approved by UGC, Government of India AICTE etc.

State Bank Of India Education Loan Features:

  1. For studies in India maximum loan amount allotted is Rs Rs 10 lakhs.
  2. For studies in abroad maximum loan amount is Rs 30 lakhs.

SBI Education Loan Interest Rates:

Amount of Loan Rate of Interest
For loans up to Rs 4 lakhs 13.50%
Loan from Rs 4 lakhs to rs 7.50 lakhs 13.75 %
Above Rs 7.50 lakhs 11.75 %

Apply For Education Loan

The Documents required are:

CATEGORY MAIN APPLICANT (STUDENT)
KYC (KNOW YOUR CUSTOMER ) AGE PROOF
SIGNATURE PROOF
IDENTITY PROOF
RESIDENCE PROOF

INCOME DOCUMENTS OF CO-APPLICANT
SALARIED Last 2 Salary Slips carrying date of joining details
Last 6 Months Bank Statement of the Salary Account.
SELF-EMPLOYED Latest 2 Year ITR with Computation of Income
Latest 2 Years Audited Balance Sheet
Latest 6 Months Bank Statement
Evidence of Turnover (Last Sales / Service Tax Return)
SELF-EMPLOYED PROFESSIONALS Last 2 Year Income Tax Return with Computation of Income
Last 2 Yrs Audited Balance Sheet / P& L
Latest 6 Months Bank Statement
Proof of Qualification

Repayment Tenure:

Study Place Loan Amount Repayment Period
In India Rs 10 lakhs 5-7 years
In Abroad Rs30 lakhs 5-7 years

Expenses covered under this loan:

  1. Fees to be payable for school, college and hostel.
  2. Examination / Library and Laboratory fees.
  3. Purchase of Books, Equipments, Instruments and Uniforms.
  4. Purchase of computers and laptops that are necessary for the completion of the course.

Leading Education Loan Providers (Click to Apply)

  1. HDFC Bank Education Loan
  2. BOI Star Education Loan
  3. ICICI Bank Education Loan
  4. SBI Education Loan
  5. IDBI Education Loan
  6. Punjab National Bank Education Loan
  7. Other Banks

SBI Education Loan EMI Calculator SBI Education Loan Interest Rates
SBI Education Loan EMI Calculator SBI Education Loan Interest Rates

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