How to Apply for an education loan in SBI

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How to Apply for an education loan in SBI

SBI Education Loan

State Bank of India is offering education loans to its applicants at the lowest rate of interest. It is among one of the most sought-after banks that is offering the education loan to the students for studying abroad and India as well. Students can get the SBI education loan immediately. To know more about SBI education loans, students can visit the website of Dialabank.

How to apply for education loan in SBI

SBI Education Loan Interest Rates

The Interest rate is offered by SBI are as follows:

Schemes Max Loan Amount Interest Rates
SBI Student Loan Rs.20 lakh 8.15% to 8.65%
SBI Scholar Loan Rs.40 lakh 6.85% to 8.15%
SBI Take Over of Education Loan Rs.1.5 crore 8.15% to 8.65%
SBI Skill Loan Rs.1.5 lakh 8.15%
SBI Global ED-Vantage Rs.1.5 crore 8.15% to 8.65%


To know more about How to apply for an education loan in SBI. Check out the below-mentioned process.

How to apply for an education loan in SBI

Applicants can apply for an SBI education loan through both i.e. Online, Offline.

1. Offline:

  • Through offline mode, you can opt for an SBI education loan.
  • For that, you have to go to your nearest SBI branch along with all the required documents.
  • Fill in the details and submit the application form.

2. Online:

  • Through the Online process, you first have to visit the official website of SBI
  • Secondly, you have to Navigate to the Education Loan section
  • Now, Click on the button i.e. ‘’Apply Now’’
  • You will be redirected to the page where you should enter your contact details
  • At last, the bank representative will get in touch with you

SBI Education Loan Documents Required and Application Form

Here’s the list of documents that are required while applying for the SBI education loan.

1. For Student/applicant:

  •  Any Identity proof i.e.voter’s ID card/ PAN card/ Passport or driver’s license
  •  Proof of residence or address i.e. a copy of the Aadhaar card/ passport or driver’s license
  • Passport
  • Academic records of 10th, 12th and Graduation.
  • Admission letter or an offer letter from the educational institution
  • Statement of Loan account of the previous 1 year
  • Passport size photographs

2. For co-applicant:

  • Identity proof that is voter’s ID card/ PAN Card/ passport, or driver’s license.
  • Residence or Proof of address: a utility bill or it can be a copy of the Aadhaar card/ passport or driver’s license.
  • Passport size photographs
  • Statement of Loan account of the previous 1 year

FAQ’s about SBI Education Loan

✅ What is the other way to get a concession on the interest?

Applicants can get a 1% concession in interest and throughout your loan tenure, it is your wish to pay back only the interest during your course period and moratorium.

✅ How much loan amount can I get as an education loan from SBI?

SBI is offering a maximum of Rs 1.5 crore loan amount only for foreign education and the minimum loan amount for Education loan is ₹ 10.00 Lakh.

✅ How can we calculate the EMI on education loans?

Applicants can calculate the EMI amount through a mathematical formula that is EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1]  and here P, R, and N are the variables. As we know that EMIs are paid each month, So the duration can be calculated within the number of months.