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A/3, J1/14, KHIRKI EXTN,
MALVIYA NAGAR, NEW DELHI 110017
-7982367598
Repayment period is upto 15 years after Course Period and 12 months of repayment
holiday
Most of all, there is no processing and upfront charges will be levied on Education
loans.
Eligibility:
Since SBI Student loan is only for Indian Nationals. Therefore, you should be an
Indian, if you want to get a Student Loan from SBI. Furthermore, you may opt for
studying in India or abroad. For this, first of all, lets check out the courses you may
opt for.
Courses
Covered:
You can choose to study in India or in Abroad. You may choose from either of the
following:
A.Studies in India:
Graduation and Post-graduation such as
regular technical and professional Degree or
Diploma courses; conducted by
colleges/universities approved by UGC/
AICTE/IMC/Govt. etc
And, Regular Degree or Diploma
Courses conducted by autonomous
institutions such as IIT,
IIM etc
Also, Teacher training and Nursing courses approved by Central government or the
State Government
And, Regular Degree or Diploma Courses such as Aeronautical, pilot training,
shipping etc. approved by Director General of Civil Aviation and Shipping concerned
regulatory authority
B.Studies abroad:
Job oriented professional and technical
Graduation Degree courses and Post
Graduation Degree and Diploma courses
such as MCA, MBA, MS, etc offered by
reputed universities
And, Courses conducted by CIMA (Chartered Institute of Management
Accountants) London, CPA (Certified Public Accountant) in USA etc.
Security:
Particula Securit
r y
Margin:
Upto Rs.7.5 Lacs: Nil
And, Above Rs. 7.5 Lacs : 5% for studies in India; and 15% for studies abroad
Repayment
:
Especially relevant, Repayment will commence one year after completion of
course
Also, Loan to be repaid in 15 years after the commencement of repayment
And, in case second loan is availed for higher studies later, you can repay the
combined loan amount in 15 years after completion of second course
EMI Generation:
EMI (Equated Monthly Installments) : It is fixed by adding the accrued
interest during the moratorium period and course period to the principal
amount.
If you repay the full interest, before the start of repayment; then your EMI will
be fixed on the basis of principal amount only.
Loan Rate of
Amount Interest*
For loans upto Rs.7.5 2% above MCLR, currently
lacs 11.10% p.a.
*Also, (1% concession for full tenure of the loan, if interest is serviced promptly as and when applied
during the moratorium period, including course duration)
Documents Required:
First of all, Letter of admission is required
And, you will submit completely filled Loan Application Form
2 passport size photographs
Also, Statement of cost of study
PAN Card of the student and Parent or Guardian
AADHAR Card of the student and Parent or Guardian
Proof of identity (Driving Licence or Passport or Aadhar or any photo identity)
And, Proof of residence (Driving Licence/Passport/Electricity bill/Telephone
bill)
Student, Co-borrower and guarantors bank account statement for last 6
months
Also, IT return or IT assessment order of previous 2 years of Parent or
Guardian or other co-borrower (if IT Payee)
In addition, Brief statement of assets & liabilities of Parent or Guardian
or other co-borrower
And, Proof of income (i.e. salary slips or Form 16) of Parent or
Guardian or other co-borrower
In addition, if Bank demands any other documents, you will have to
provide.