SBI Education Loan In India 2024-The State Bank of India is the country’s Main nationalized lender. It offers Five different types of SBI education Fund Scholar Loan, Global Ed-vantage Education Loan, Candidates Loan, Skill Loan, and Take-over of an education Fund. While Scholar Loan and Skill Loan are for Candidates who want to pursue their higher education in either a premier institute or a vocational college in India, Global Ed-vantage and Candidates Loan are for Aspirants who want to study abroad. For overseas education, SBI primarily offers education loan with collateral. Unsecured loans, i.e. loans without collateral are Ready only for the best of the best colleges, and that too up to ₹ 7.5 lakhs only.
SBI offers subsidies on Return rates for girl Candidates as well as the holders of the RiNn Raksha credit life insurance policy. Back this, as a scheduled commercial bank, SBI also Given government schemes such as Dr. Ambedkar Interest Subsidy Scheme for Overseas Studies for OBCs (non-creamy layer) and EBCs, CSIS and Padho Pradesh Return Subsidy Scheme with most SBI education Fund offerings.
SBI Education Loan In India 2024
State Bank of India (SBI) offers a wide range of education Credit with interest rates that start at 8.00% p.a. The flexible Return tenures also include a moratorium Time after course completion. There are no penalty charges for pre-payment of the Fund, which can be done at any time during the Fund tenure. Some loans also offer interest concessions for girl Candidates.
SBI offers Candidates loans for domestic and international study. You are eligible for financing to study for both professional and vocational Subject. There are also takeover loans that enable you to Return your high-interest loans with SBI Funds that have reduced Return rates.
SBI Education Loan Details
| Key pointers of SBI Education Loan In India 2024 | |
| Interest Rate | 9.7% for females and 10.2% for male students after Insurance |
| Loan Amount | 8 Lacs to 1.5 Cr |
| Processing Fees | Rs. 10,000 (payable at the bank directly) + legal and valuation charges |
| Loan Period | 15 years maximum |
| Moratorium Period | Course duration + six months |
| Processing Time | 14-18days with We Make Scholars (35-50 days if applied directly at the branch) |
| Category | Career Guide |
| Eligible Expenses | Everything- Tuition fee, Travel, Living expenses/ Hostel fee, Examination fee/ Purchase of Stationery laptop |
| Official Web Site | sbi.co.in |
About SBI
The State Bank of India, Open in 1806 is one of the Beigest and oldest commercial banks in Asia. It is a major banking and Money services public sector company with more than 24,000 branches and 59, 000 ATMs. It is the Beigest bank in India which has a 20% market share in deposits and Fund among commercial banks, truly being a bank for every Indian.
State Bank of India (SBI) Education Loans
State Bank of India (SBI) Education Loans are available to students all over the world. If you are looking for a reliable and affordable source of financing for your education, then state bank education loans are the perfect option for you. There are a variety of options available, so you can find the right loan that fits your needs. With state bank education loans, you can get the money you need to cover your tuition, fees, and other educational costs. Plus, these loans come with flexible terms and low interest rates.
What Is an Education Loan?
An Education Fund is the loan or funds acquired by an individual to pursue higher studies in India or abroad. The loan Return commences for the student after completing the education and a Time of 6 months is given as grace period to Candidates to get or join a job.
The Return amount will be determined by your choice of Return, you need to decide how you want to repay the Credit. That is if you want to start paying during the time of moratorium Time itself or after the moratorium Time. The Moratorium period is the time of your education plus 6 months or 1 year Take to get a job. It is only after this time that you are expected to pay the Fund. The loan Return starts to accrue at the time of dispersal of Loans, so at the time of your graduation you have a Large amount to repay. The other option is your parents or guardian can Ready paying the loan during the moratorium time itself where it is calculated as a simple Return.
There are Four types of SBI Education Loan In India 2024
- Under Graduate education loan
- Post graduate education loan
- Parents availing education loan
- Career growth education loans
SBI Education Fund Summary Table
| SBI Education Loan Limit | For India – INR 10 Lacs For Abroad – 20 Lacs (Up to ₹ 7.5 lakh without collateral) |
| SBI Education Loan Interest Rate | 9.65% per Years |
| SBI Education Loan Margin | For loan above INR 4 Lacs In India: 5% In abroad: 15% |
| SBI Education Loan Processing Fee | Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000 |
| SBI Education Loan Security | Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee. Above INR 7.50 Lacs: Tangible security along with parents as co-Taker |
| SBI Education Loan Repayment | Ready After 1 year of course completion or 6 months after getting a job |
SBI Education Loan Eligibility
| Parameters | Eligibility Criteria |
| Applicant’s Age |
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| Who Can Apply? |
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| Maximum Loan Amount |
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| Frequency Of Repayment |
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| Repayment Period |
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SBI Education Loan Interest Rate
| Loan Amount Range | Courses in India | Courses Abroad | IIT, IIM, ISB Courses |
|---|---|---|---|
| Loans up to Rs. 4 lakh | 10.50 % – 10.00% | 10.50 % – 10.00% | 8.85 % |
| Loans Rs. 4.0 – 7.5 lakh | 10.50 % – 10.00% | 10.50 %– 10.00% | 8.85 % – 10.00% |
| Loans > Rs. 7.5 lakh | 10.75 % – 10.25% | 10.75 % – 10.25% | 8.85 % – 10.00% |
SBI Education Loan Schemes with detailed features, documents, max loan, courses
| Schemes | Maximum Loan Amount | Interest Rates |
| SBI Student Loan | Rs.20 lakh | 10.05% |
| SBI Scholar Loan | Rs.40 lakh | 8.95% to 9.25% |
| SBI Global ED-Vantage | Rs.1.5 crore | 10.05% |
| SBI Skill Loan | Rs.1.5 lakh | 9.55% |
| SBI Take Over of Education Loan | Rs.1.5 crore | 10.05% |
SBI Education Loan Documents Required
Under Know Your Customer Policy (KYC), the bank Needs certain documents. These documents are Needs from both the Candidates and co-borrower:
| Identity Proof |
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| Residence Proof |
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| Income Proof in case of salaried co-borrower |
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| Income proof for self-employed co-applicant |
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SBI Education Loan Repayment Rules
When should I start my SBI Education Loan Return?
The SBI Education Fund Policy Plane has a moratorium Time of course duration + six months. There is no need to make any payment during this Time. Your SBI Education loan Return begins six months after course completion for both SBI Candidates Loan Scheme and SBI Global Advantage Scheme.
In most private banks and NBFCs, at least a partial Total of interest must be paid while your abroad studies is still in progress. They do not have a moratorium Time.
Many Candidates wonder whether any pre-closure charges will be levied on their Candidates loan. That is, let’s say a Candidates gets an SBI Education Fund sanction for a Time of 15 years. If he is able to fully repay and close the loan in 5 years, he can do so without any Extra charges. This is an added advantage of SBI’s Global Advantage Fund. Pre-closure charges are not levied.
SBI Education Loan Charges
Is there an SBI Education Fund Processing Fee?
SBI Education Loan processing Cost is Rs. 10,000. But do keep about 7500 rupees aside for the lawyer and valuator’s charges. Education Fund with low Return and low processing fee is possible only with government banks- and SBI is the undisputed leader in this regard.
| SBI Global EDVANTAGE Processing Fee | |
| Processing Fee | Rs. 10,000 fixed |
| Extra charges to the SBI Branch approved Lawyer and Valuator | Rs. 7,500 approximately |
Best time to apply for SBI Education Credit?
Ideally, it’s best to start your SBI education Fund process as soon as your admit to a university is confirmed. The sooner you start your Candidates Fund process, the better! Please don’t wait until you’ve heard from all the universities you applied to! Don’t wait until you decide which university to go ahead with! Ready your education loan process as soon as you have one admit confirmed. This really helps to bring down your SBI education Fund processing time! In some cases, Candidates have some missing documents or other incomplete formalities that must be taken care of. Hence, the sooner you Ready, the more comfortable your process of getting education Fund will be.
SBI Education Loan Customer Care
For further assistance, Candidates seeking SBI education loan can connect with the customer care of the Fund department. Call SBI’s 24X7 helpline number i.e. 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990. Toll-free numbers are accessible from all landlines and mobile phones across the India.
How To Apply Education Fund in SBI Bank?
To apply for the SBI Bank education Fund using the online mode.
- First of all, Visit To The the Main website of SBI Bank www.onlinesbi.sbi
- After That, the application Form process is both online and offline, so you don’t have to worry even a bit.
- After That you can Open directly to the bank or to the Main or you can Go To the official website to know the Details.
- after That the application form, you need to Fill Up it with utmost care. In case of online, you can Easy download the application form and can fill up Details it.
- After That, you have to add your Mark sheet, your admission proof, and other Required documents.
- you also have to Take an interview with the officials Website. They will Visit whether you are eligible or not.
- this step includes documentation and validation of all the Updates which you had Given in the earlier steps.
your Fund will be accept in this step and in few days of time, the Loan will be disbursed is well.
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