SBI (State Bank Of India) Education Loan Online Application Form, Interest Rate, Abroad : 1. State Bank Of India Education Loan SBI will be providing education study loan for India, Abroad for college student. so All the interest Candidates to follow the Interest rate, Criteria, EMI Calculator, Subsidy Procedure to below will providing below.
2. State Bank Of India Education Loan official Website @ www.statebankofindia.com
3. State Bank Of India Education Loan Eligible Courses
All courses having employment prospects are eligible : (a) Graduation courses/ Post graduation courses/ Professional courses
(b) Other courses approved by UGC/Government/AICTE etc.
4. State Bank Of India Education Loan Expenses considered for loan
(a) Fees payable to college/school/hostel
(b) Examination/Library/Laboratory fees
(c) Purchase of Books/Equipment/Instruments/Uniforms
(d) Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
(e) Travel Expenses/Passage money for studies abroad
(f) Purchase of computers considered necessary for completion of course
(g) Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc.
5. State Bank Of India Education Loan Amount of Loan
(a) For studies in India, maximum Rs. 10 lacs
(b) Studies abroad, maximum Rs. 20 lacs
6. State Bank Of India Education Loan Interest Rates
(a) For loans up to Rs.4 lacs - 12.25% p.a. Floating
(b) For loans above Rs.4 lacs - 13.25% p.a. Floating
7. State Bank Of India Education Loan Security : Upto Rs 4 lacs no security. Above Rs. 4lacs : collateral security equal to 100% of loan amount or guarantee of third person known to the bank and good for the loan amout.
8. State Bank Of India Education Loan Margin
(a) For loans up to Rs.4.0 lacs : No Margin
(b) For loans above Rs.4.0 lacs:
(c) Studies in India: 5%
(d) Studies Abroad: 15%
9. State Bank Of India Education Loan Repayment :
10. State Bank Of India Education Loan Repayment holiday/Moratorium: Course period + 1 year 0r 6 months after getting job/starts earning, whichever is earlier. The loan to be repaid in 5-7 years after commencement of repayment
11. For More Details Please Visit: https://www.sbi.co.in/user.htm?action=sbiEdulLoan or https://www.sbi.co.in/portal/web/student-platform/student-loan