COMPARE : EDUCATION LOANS
State Bank of India Education Loan
Introduction
State Bank of India offers loan to Indian National seeking higher education in India or aboard and have secured admission. Bank gives loan for graduation, post graduation, professional courses, courses approved by UGC/govt./AICTE etc. which have employment prospects. Loan covers all the expenses from fees to purchase of computers, etc.
Highlights
  Study Abroad Study India
Course Graduation Graduation
Loan Type Term Loan Term Loan
Loan Purpose Loan is provided for job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities. 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 Education Loan Scheme, as the scheme is framed to provide bank loans for higher studies.
Loan Amount Repayment:
Upto Rs. 4 Lacs - Up to 10 years

Above Rs. 4 Lacs and up to Rs. 7.5 Lacs - Upto 10 years

Above Rs. 7.5 Lacs - Upto 12 years
Repayment:
Upto Rs. 4 Lacs - Upto 10 years

Above Rs. 4 Lacs and upto Rs. 7.5 Lacs - Upto 10 years

Above Rs. 7.5 Lacs - Upto 12 years
Margin Money For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs: 15%
Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
# For loans up to Rs.4.0 lacs : No Margin
# For loans above Rs.4.0 lacs: 5%
Tenure Min. - 1 Yrs.
Max. - 7 Yrs.
Min. - 5 Yrs.
Max. - 7 Yrs.
Interest Rate For loans upto Rs.4 lacs:13.50%
Above Rs.4 lacs and upto Rs.7.50 lacs:13.75%
Above Rs.7.50 lacs:11.75%
For loans upto Rs.4 lacs:13.50%
Above Rs.4 lacs and upto Rs.7.50 lacs:13.75%
Above Rs.7.50 lacs:11.75%
Time to Process Loan 7 days 7 days
 Fees & charges
 Eligibility Criteria
 Security
 Terms & Conditions
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