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| COMPARE : EDUCATION LOANS |
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| State Bank of Patiala Education Loan |
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| Introduction |
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| State bank of Patiala offers education aspiring student to help them pursue for higher studies in India and abroad. Bank provides loan to students for graduation courses, post graduation courses, professional courses and technical courses, courses offered by National institutes and other reputed privates institutes. Bank has a facility of life insurance through SBI Life Insurance Company named ‘Shield’ for student/parents/guardian at optional basis. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/ instruments, Caution deposit/ building fund, Purchase of computer, Travel expenses/ passage money |
Fee payable to college/ hostel/ Examination/ Library/ Laboratory, Purchase of books/ equipments/inst
ruments, Caution deposit/ building fund, Purchase of computer |
| Loan Amount |
Maximum Rs 20lacs
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Min. - Rs 50000
Max. - Rs 400000
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| Margin Money |
Upto Rs 4 lacs: Nil
Above Rs 4 lacs: 15%
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| Tenure |
Min. - 5 Yrs.
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| Interest Rate |
Up to Rs. 4 lacs - 13.50
Above Rs. 4 lacs - 15.00
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Up to Rs. 4 lacs - 13.50
Above Rs. 4 lacs - 15.00
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 Fees & charges
Fees & charges
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Security
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Security |
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Upto Rs 4 lacs - No security
Above Rs 4 lacs and up to Rs 7.5 lacs : Collateral in the form of a suitable third party guarantee.
Above Rs 7.5 lacs and up to Rs 15 lacs: Tangible collateral security for suitable value or suitable third party guarantee along with the assignment of future income of the student for payment installments.
Above Rs 15lacs and upto Rs 20 lacs: Tangible security for full value of loan. |
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Terms & Conditions
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Terms & Conditions |
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Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier)
1% concession on interest be provided if full interest is paid during the moratorium period when any moratorium period is specified. |
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