Re: SBI Education Loan Interest Subsidy
As you want to take SBI education loan,here I am providing all details about this.
It is a loan granted to Indian Nationals for pursuing higher education in India or abroad.
Expenses considered for loan
Fees payable to college/school/hostel.
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
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Upto Rs. 4 lacs
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 candidate for payment of installments.
Loan Amount & Rate of Interest of SBI Student Loan Scheme:
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.
For your reference here I am attaching Application Form of Education loan of SBI:
|Other Discussions related to this topic|
|UCO bank education loan interest rate|
|Corporation Bank Education Loan Interest Rates|
|SBI Personal Loan Interest Rate|
|Punjab national bank education loan interest rates|
|Syndicate Bank Loan Interest Rates|
|SBI Education Loan Interest|
|IDBI Loan Against Property Interest Rate|
|Syndicate bank education loan interest rate|
|Bank Of Maharashtra Education Loan Interest Rate|
|Punjab National Bank Education Loan Interest|
|Canara Bank Education Loan Subsidy|
|Vijaya Bank Car Loan Interest|
|SBI Home Loan Interest Rate September|
|United Bank of India Education Loan Interest Rate|
|Indian Overseas Bank Car Loan Interest|
|Sbi Loan Against Property Interest Rate|
|Bank Of India Education Loan Interest|
|Bank of Baroda Car Loan Interest|
|Canara Bank Education Loan Interest Subsidy|
|Union bank of India education loan Interest|
| Have a Facebook Account? Ask your Question Here|
|Share this on...|