How To Apply SBI Education Loan

SBI Education Loan

SBI Education Loan Most of the banks is providing student loans to students for their studies. But not all of them are providing the best ones, which may come with low-interest rates, friendly tenure, less package. And that’s not all – you can also avail of special credit card benefits on the purchase of durable or luxury items. SBI offers education loans with an easy online process along with an efficient customer service system to provide you with a hassle-free experience for your next SBI Education Loan.’

What are the key features of SBI Education Loan ? SBI offers education loans with competitive tenure rates and repayment options. You can repay your loan in tenures ranging from 5 to 10 years at interest rates starting from 7.25% fixed.

SBI Education Loan Documents Required

  • A photocopy of your valid Passport
  • A photocopy of your Valid and Active National Identity Card
  • date of birth
  • Adhar card, Pen card And the Voting card
  • Address
  • Bank Name
  • Bank Branch
  • Account Number
  • The details of the School/Institute
  • Note-The Application form is available online at SBI.

SBI Education Loan Interest Rates

  • Interest concession of 0.50% for students who avail of SBI Rinn Raksha or other life policy assigned by SBI.
  • 0.50% interest concession for girl students.
  • Loan Amount – SBI Education Loan Amount
  • 0.25% interest concession for loan amount up to Rs.2 lakh for eligible students.
  • 0.25% interest concession for loan amount up to Rs.2.5 lakh for eligible students.
  • Interest concession of 0.50% for students who avail SBI Rinn Raksha or other life policy assigned by SBI.
Which SBI Education Loan is the best? SBI offers education loans with competitive tenure rates and repayment options. You can repay your loan in tenures ranging from 5 to 10 years at interest rates starting from 7.25% fixed. Education Loan Interest Rate: 8.15% to 8.

SBI Education Loan EMI Calculator

Knowing how much your Equated Monthly Instalment (EMI) will be exactly on your SBI education loan will help you to plan your expenses and manage your student finances better. This is easy to use, online EMI calculator that displays your EMI details instantly on the page. 1. All you have to do is enter your desired or sanctioned loan amount, tenure, and the interest rate given by SBI in the relevant fields (use the slider for the loan amount and tenure and key in the figures for the interest rate and processing fee). 2. Also, choose whether you plan to make any pre-payments. Click on ‘Calculate’ and you can see your EMI details right there. Compare SBI Education Loan Schemes for Students How To Take Gold Loan From SBI How to Check Home Loan Subsidy, Terms

SBI Student Loan Scheme

  • Interest rate: 8.15% to 8.65% p.a.
  • Processing Fee: For loans up to Rs.20 lakh: Nil
  • Processing fee for loans above Rs.20 lakh: Rs.10,000 plus applicable taxes
  • Collateral: For loans up to Rs.7.5 lakh: None
  • For loans above Rs.7.5 lakh: Tangible collateral
  • Loan Tenure: 15 years after the course ends plus a repayment holiday of 12 months
  • Eligibility: Indian nationals
SBI Scholar Loan Scheme
Interest rate 6.85% to 8.15% p.a.
Processing Fee Nil
Collateral Required only for List A and List C colleges
Loan Tenure 15 years after the course ends plus a repayment holiday of 12 months
Eligibility Indian national who is selected through entrance tests/selection processes
SBI Global Ed-Vantage Scheme
Interest Rate 8.15% to 8.65%
Processing Fee Rs.10,000 per application
Collateral Tangible collateral as security
Loan Tenure 15 years
Eligibility Indian nationals

SBI Takeover of Education Loan Scheme

Interest Rate 8.15% to 8.65%
Processing Fee No
Collateral Minimum 100% of the proposed loan’s value
Loan Tenure 15 years
Eligibility Indian nationals
How to find the best SBI loan? As you can see, SBI offers a wide range of education loans. SBI offers education loans for a wide range of courses and different degrees. All you need to do is choose the course, duration, and the type of loan that best suits your needs. Once you have decided on the type of loan, you need to choose the best loan package and then proceed to the application form.
SBI Education Loan
Once you have completed the application form, you can use the application form to compare the best loan schemes for you. SBI education loan is the best choice if you are a student who is looking to start a new career and wants to get a higher education loan for studies or for acquiring a job. What are the advantages/benefits of SBI? SBI offers education loans with competitive tenure rates and repayment options. You can repay your loan in tenures ranging from 5 to 10 years at interest rates starting from 7.25% fixed. How to apply for SBI Education Loan?
  • To apply for an SBI education loan, visit the SBI website.
  • There click on Education Loan.
  • Then click on the ‘Apply Now’ link.
  • Enter all the documents asked in it correctly.
  • Fill the form with all the required details.
  • Then click on submit.
  • In this way, you can easily apply for an education loan in SBI.

FAQ’s

1. Do SBI loans require guarantors? Ans. No, SBI does not require a guarantor to avail of education loans. But it is advisable to opt for a guarantor for the other types of loans. 2. Can SBI education loans be deposited in one go? Ans. The SBI education loan is usually disbursed in tranches and not as a lumpsum amount. 3. Which loan is the best? A. You need to take a decision after considering the eligibility criteria, loan amount, interest rate, tenure, and other terms and conditions. SBI offers education loans with competitive tenure rates and repayment options. You can repay your loan in tenures ranging from 5 to 10 years at interest rates starting from 7.25% fixed. 4. SBI Bank offers low-cost, no-frills banking services. A. BI Bank is a low-cost bank and one of the safest banks in India. Its services are highly flexible, and its customer service is top-notch. It is highly likely that you will find a good deal when you bank with SBI. Share This>>Facebook

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