State Bank of India (SBI) Education Loan- Student Loan in India

State Bank of India (SBI) Education Loan- Student Loan in India

State Bank of India (SBI) Education Loan Scheme

Eligible Courses 

a. 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

Vocational Training and Skill Development Study Courses will not be covered under the regular

Education Loan Schemes. A separate scheme for ‘Loans for Vocational Education and Training’ has been launched which covers financing for such Vocational courses

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
Expenses considered for loan

  • 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% 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.

Amount of Loan

  • For studies in India, maximum Rs. 10 lacs
  • Studies abroad, maximum Rs. 30 lacs

Interest Rates
SBI Student Loan Scheme     (w.e.f. 16.11.2012)

Loan Amount

 Rate of Interest*

For loans upto Rs.4 lacs

3.50% above Base Rate, currently 13.20% p.a.

Above Rs.4 lacs and upto Rs.7.50 lacs

3.75% above Base Rate, currently 13.45% p.a.

Above Rs.7.50 lacs

1.75% above Base Rate, currently 11.45% p.a.

Processing Fees

  • No processing fee/ upfront charges
  • Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

Repayment Tenure 
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

Place of Study

Loan Amount

Repayment Period 
in Years

Studies in India

Rs. 10.0 lacs


Studies Abroad

Rs. 30.0 lacs




For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad

Upto Rs. 4 lacs

No Security

Above Rs. 4 lacs to Rs. 7.50 lacs

Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower".

Above Rs. 7.50 lacs.

Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.


All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be spouse or the parent(s)/ parents-in-law


For loans up to Rs.4.0 lacs: No Margin 

For loans above Rs.4.0 lacs: Studies in India: 5%; Studies Abroad: 15%

Documentation Required

Completed Education Loan Application Form

Mark sheets of last qualifying examination 

Proof of admission scholarship, studentship etc 

Schedule of expenses for the specified course 

2 passport size photographs 

PAN Card of the student and the Parent/ Guardian

Borrower's Bank account statement for the last six months 

Income tax Returns/ IT assessment order, of last 2 yrs 

Brief statement of assets and liabilities, of the Co-borrower 

Proof of Income (i.e. Salary slips/ Form 16)


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