SBI Education Loan Interest Subsidy - 2016-2017 StudyChaCha

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  #1  
Old June 6th, 2013, 12:31 PM
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Default SBI Education Loan Interest Subsidy

Hello I want to take SBI education loan.can you give me details about this loan scheme ?
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  #2  
Old June 6th, 2013, 02:18 PM
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Default 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.
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

Repayment:

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

Quote:
Originally Posted by Unregistered View Post
Hello I want to take SBI education loan.can you give me details about this loan scheme ?
Attached Files
File Type: pdf Application Form of Education loan of SBI.pdf (36.1 KB, 125 views)
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  #3  
Old May 2nd, 2014, 01:46 PM
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Default Re: SBI Education Loan Interest Subsidy

sir i have taken educational loan on 2007 for the 4 year for doing b tech. and paid the loan in dec 2012 . whether I am entitled to get the central government educational loan subsidiary?
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  #4  
Old December 30th, 2014, 04:26 PM
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Default

sir, how do i apply the sbi education loan?
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  #5  
Old October 20th, 2015, 04:27 PM
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Default Re: SBI Education Loan Interest Subsidy

Will you please tell which are the courses covered under SBI Student Loan Scheme and SBI Scholar Loan Scheme under education loan of SBI ?
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  #6  
Old October 20th, 2015, 04:27 PM
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Default Re: SBI Education Loan Interest Subsidy

SBI education loan offers to Indian Nationals for pursue higher education in India or abroad where admission has been secured through entrance test .

SBI Education Loans:
SBI Student Loan Scheme

Courses Covered
Studies in India:
Graduation,
Post-graduation
(Regular technical and professional Degree/Diploma courses)

Teacher training/
Nursing courses approved by Central government or the State Government

Regular Degree/Diploma Courses like:
Aeronautical,
Pilot training,
Shipping etc.

Studies abroad:
Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses .

Courses conducted by CIMA - London, CPA in USA etc.

Rate of interest:

For loans upto Rs.4 lacs
3.90% above Base Rate, currently 13.20% p.a.

Above Rs.4 lacs and upto Rs.7.50 lacs
4.15% above Base Rate, currently 13.45% p.a.

Above Rs.7.50 lacs
2.15% above Base Rate, currently 11.45% p.a.

SBI Scholar Loan Scheme

Courses Covered
Regular full time :
Degree/
Diploma Courses

Full time Executive Management Courses:
like PGPX

No Certificate/ Part time courses
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  #7  
Old October 21st, 2015, 04:35 PM
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Default Re: SBI Education Loan Interest Subsidy

Hello sir would you please give me some information about Education Loan Scheme of state bank of India? bcoz my brother wants to take Education Loan ….
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  #8  
Old October 21st, 2015, 04:38 PM
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Join Date: Dec 2012
Posts: 16,290
Default Re: SBI Education Loan Interest Subsidy

State Bank of India was founded in July 1, 1955, it is an Indian multinational, Public Sector banking and financial services company and it is a government-owned corporation with its headquarters in Mumbai, Maharastra

Here I am giving you some information about Education Loan Scheme

Eligibility:

Student

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

Courses

Graduation courses/ Post graduation courses/ Professional courses
Other courses approved by UGC/Government/AICTE etc.

Here I am giving you process to apply online for Education Loan at state bank of India…

Firstly go to the official website of State bank of India
Looks like this image:



Now left side top of the home page you will see “Personal banking” option take your cursor on this option and click on Education Loan option a new page will open which look like this image:



Now on this page you will see “Apply online” option click on that option a new window will open which look like this image:



After that again click on Apply online option a new page will open

Look like this image:



After that fill all require details and click on submit option….

Documents Required

Letter of admission
Completely filled in Loan Application Form
2 passport size photographs
Statement of cost of study
PAN Card of the student and Parent/ Guardian
AADHAR Card of the student and Parent/ Guardian
Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
Student/Co-borrower/ guarantor’s bank account statement for last 6 months
IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

SBI Education loan Interest Rates

For loans upto Rs.4 lacs 13.20% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs 13.45% p.a.
Above Rs.7.50 lacs 11.45% p.a.

Margin

For loans up to Rs.4 lacs - No Margin
For loans above Rs. 4 lacs
- Studies in India - 5%
- Studies abroad - 15%
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