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

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           Click Here For Interest Rates

SBI Base Rate 9.70 % w.e.f. 04.02.2013



SBI Student Loan Scheme 

Loan Amount Rate of Interest*
For loans upto Rs.4 lacs3.50% above Base Rate, currently 13.20% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs3.75% above Base Rate, currently 13.45% p.a.
Above Rs.7.50 lacs1.75% above Base Rate, currently 11.45% p.a.

*(0.50% concession in interest for girl students)

* (1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#)

SBI Scholar Loan Scheme



List A100bps above base rate i.e., 10.70% p.a. at present

Further concessions:

  • 25 bps – work experience of more than 2 years
  • 50 bps – with parent/ spouse/ guardian as co-borrowers
  • 75 bps – collateral security >= the loan amount


(effective rate of interest with all 3 concessions above not to be lower than 25 bps above base rate, presently 9.95 % p.a.)List B175bps above Base rate i.e. 11.45% p.a.


  • 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#



IT exemption under Section 80(E) in respect of interest paid in all Education Loans




SBI Loan Scheme for Vocational Education And Training      

3.50% above Base Rate, currently 13.20% p.a.
  • 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#

# Note: 1% interest concession for servicing interest is available if interest is serviced promptly soon after application but not later than the following month.

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.

Maximum Loan LimitRepayment Period
Upto Rs. 4 Lacs5-7 years
Above Rs. 4 Lacs and upto Rs. 7.5 Lacs5-7 years
Above Rs. 7.5 LacsUpto 12 years


Upto Rs. 4 lacs loan amountOnly Parent/ Guardian as co-borrower
Above Rs. 4 lacs to Rs. 7.50 lacs loan amountParent/ Guardian as co-borrower and Collateral security in the form of suitable third party guarantee*.


*Third Party Guarantee can be replaced with Parent/Guardian as co-borrower provided the Gross Annual Income of Parent/Guardian (co-borrower) as given in latest Income Tax Return is 3 times of the loan amount.Above Rs. 7.50 lacs loan amountParent/ Guardian as co-borrower and tangible collateral security


In case of married person, co-obligator can be either 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 (If IT Payee)
  • Brief statement of assets and liabilities, of the Co-borrower
  • Proof of Income (i.e. Salary slips/ Form 16 etc. if applicable)

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