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student educational loan for higher education

SBI STUDENT LOAN SCHEME

The Bank is actively involved since 1973 in non-profit activity called Community Services Banking. All our branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. Our business is more than banking because we touch the lives of people anywhere in many ways.for more information click on below linksOur commitment to nation-building is complete & comprehensive.student educational loan.

student educational loan

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

  • Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*

  • No processing / upfront charges will be levied on Education loans.

  • Eligibility

    A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured

Courses Covered

Studies in India:

  • Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc

  • Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc

  • Teacher training/ Nursing courses approved by Central government or the State Government

  • Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority

b. Studies abroad:

  • Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities

  • Courses conducted by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in USA et

Expenses Covered

  • Fees payable to college/school/hostel

  • Examination/Library/Laboratory fees

  • Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)

  • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)

  • Travel Expenses/Passage money for studies abroad

  • Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc

Expenses Covered

  • Fees payable to college/school/hostel

  • Examination/Library/Laboratory fees

  • Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)

  • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)

  • Travel Expenses/Passage money for studies abroad

  • Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc

student educational loan:

Security

Particular Security
Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and tangible collateral security

Parent/ Guardian as co-borrower and tangible collateral security

Margin

  • Upto Rs.7.5 Lacs: Nil

  • Above Rs. 7.5 Lacs : 5% for studies in India, 15% for studies abroad

    Repayment:

    • Repayment will commence one year after completion of course.

    • Loan to be repaid in 15 years after the commencement of repayment

    • In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course

Repayment:

  • Repayment will commence one year after completion of course.

  • Loan to be repaid in 15 years after the commencement of repayment

  • In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course

Rate of Interest

Please click here to Rate of Interest

Documents Required

  • Letter of admission

  • Completely filled in Loan Application Form

  • 2 passport size photographs

  • Statement of cost of study

  • PAN Card of the student and Parent/ Guardian

  • AADHAR Card of the student and Parent/ Guardian

  • Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)

  • Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)

  • Student/Co-borrower/ guarantor’s bank account statement for last 6 months

  • IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)

  • Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

  • Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

for more eduational loans details visit official website. apply online here  

Syndicate Bank educational loans 

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