Enter your E-mail Address below for Free E-mail Alerts right Into your Inbox: -
Don't Forget To "Activate" Subscription Link Sent to Your Email

Education Loan SBI Terms and Conditions Bank Details, Interest Rate 2015

Education Loan SBI

Those candidates who are eager to study in India or Abroad for professional or regular courses and looking for the financial support they can go for the SBI Education Loan. Candidates can check the Bank Details, SBI Terms and Conditions for Loan 2015, Interest Rate etc. through this page.

State Bank of India provides the educational loan to the Indian student willing to get admission in colleges of India as well as in abroad. It is one of the largest educational loan providing banks in India with economical rates.


Important Terms and Conditions for Education Loans (SBI Student Loan Scheme)

Maximum Loan Amount
  • Studies in India - Maximum Rs. 10.00 lacs
  • Studies Abroad - Maximum Rs. 30.00 lacs
Interest Charges and Margin

Loan Amount
Rate of Interest
Margin
For loans upto Rs.4 lacs
3.50% above Base Rate, currently 13.50% p.a.
NIL
Above Rs.4 lacs and upto Rs.7.50 lacs
3.75% above Base Rate, currently 13.75% p.a.
  • Studies in India: 5%
  • Studies Abroad: 15%
Above Rs.7.50 lacs
1.75% above Base Rate, currently 11.75% p.a.


Processing Charges
  • For studies abroad the processing of loan costs Rs.5000/- which will be regulated in the margin money.
  • For Indian educational loan there is no processing fee.
Repayment

Maximum Loan Limit
Repayment Period
Up to Rs. 4 Lacs
Up to 10 years
Above Rs. 4 Lacs and up to Rs. 7.5 Lacs
Above Rs. 7.5 Lacs
Up to 12 years
  • Repayment will begin after one year of ending of course or 6 months later than getting a job, whichever is earlier.
  • If the candidate is not able to finish the course within the planned time, additional time for completion of course may be allowable for an utmost period of 2 years.

Documents Required
  • Admission Letter
  • Duly filled Loan Application Form
  • 2 recent passport size photographs
  • Fee Structure of Course
  • PAN Card of the student and Parent/ Guardian
  • Identity Proof issued by the govt.
  • Residence Proof
  • Bank account statement of Student/Co-borrower/ guarantor for last 6 months.
  • Income tax Details for last 2 years (if IT Payee)
  • Brief report of assets & liabilities
  • Proof of income (i.e. salary slips/ Form 16)

Eligible Courses

For Education in India:
  • Regular degree / diploma courses conducted for graduation / post graduation level by universities / colleges approved by UGC / AICTE / IMC / Govt., it also includes the Self governing institutes like IIT/IIM.
  • Central /state government approved courses like teacher training / nursing.
  • Director General of civil aviation / shipping approved regular Degree/ Diploma course like pilot training, shipping and aeronautical, etc.
  • ‘Loans for vocational Education and Training’ is program launched to cover the expenses of vocational courses which are not covered under regular educational loans.
For Abroad Studies:
  • Courses offered for graduation / post graduation to the students applying for professional / technical education in reputed universities.
  • Courses organized by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.

Expenses Considered for Loan
  • College/hostel/School fees.
  • Purchase of books/uniforms/instruments
  • Library/laboratory/examination fees.
  • Refundable deposits (maximum 10% of tuition fee)
  • Travel expenses, loan for two wheeler up to Rs.50,000/- could be considered if distance of school and hostel is considerably long.
  • Any other expenditure required to complete the course of education like training and project work are also financed.

Note:

Candidates are advised to go through Official Notice for further details.

Have a look on Below Links




Sarkari Naukri

Current Affairs

Recruitment 2014

Private Jobs

Railway Jobs

Application Form

PREPARATION TIPS

Career Options

Online Tests

Written Exam tips

Civil Services

Math
(Preparation Tips)|(Online Quiz )

Interview Tips

Banks Jobs

Reasoning
(Preparation Tips)|(Online Quiz)

Resume Writing Tips

Study Abroad

Computer Knowledge
( Preparation Tips)|(Online Quiz )

Check Result - Internet

Memory Power Tips

General Awareness
( Preparation Tips)|(Online Quiz )

Fill Online Application

Distance Education

Typing Test

Job searching tips

Retail Management

Computer Quiz for Bank, Railway

Group Discussion

English Preparation

Hospital Management

how write good answer

Mass Communication

CLERK - Online Practice Test

Selection Process

Foreign Language

Study Abroad

Nausena Bharti

SSB Interview Q- A

Maximise your score in exam

Enter your E-mail Address below for Free E-mail Alerts right Into your Inbox: -
Don't Forget To "Activate" Subscription Link Sent to Your Email

No comments:

Post a Comment

Don't Add Comment with Spam Purpose

x

Subscription to FREE Email Alerts

Enter your E-mail Address below for Free E-mail Alerts right Into your Inbox: -
Don't Forget To "Activate" Subscription Link Sent to Your Email