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.
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, TermsSBI 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
| 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 |
| 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 |
- 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.
