StudySahara Logo StudySahara

SBI Education Loan

Empower your academic journey with affordable and flexible financing from State Bank of India.

SBI Logo

Overview

State Bank of India (SBI) offers robust education loan schemes, such as the SBI Global Ed-Vantage Scheme, to support students pursuing higher education in India and abroad. With affordable interest rates, no processing fees for certain loans, and flexible repayment options, SBI ensures accessibility and convenience for students.

Key Features & Benefits

  • ✔Loan Amount: Up to ₹1.5 Crores for overseas studies; up to ₹50 Lakhs for India.
  • ✔Moratorium: Course duration + 1 year after completion.
  • ✔Repayment Tenure: Up to 15 years post-moratorium.
  • ✔Collateral: Not required for loans up to ₹7.5 Lakhs; property/FDs for higher amounts.
  • ✔Rates: 8.15%–11.75% p.a., with 0.50% concession for girls.
  • ✔Tax Benefits: Interest deductible under Section 80E.
  • ✔No Processing Fee: For loans up to ₹20 Lakhs under certain schemes.

Eligibility Criteria

Student:

  • •Indian National.
  • •Secured admission to recognized courses in India or abroad.
  • •Minimum 18 years old.

Co-applicant:

  • •Indian National (parent/guardian/spouse).
  • •Stable income source, acceptable credit history.

Documents Required

Student:

  • •Admission letter from institution.
  • •10th, 12th, and graduation mark sheets (if applicable).
  • •KYC documents (Aadhaar, PAN, Passport).
  • •Passport-size photographs.

Co-applicant:

  • •KYC documents (Aadhaar, PAN).
  • •Income proof (IT Returns, Salary Slips, Bank Statements).
  • •Passport-size photographs.

Other:

  • •Loan application form.
  • •Fee structure and course expenses.
  • •Collateral documents (if applicable).

Interest Rates & Charges

SBI offers competitive interest rates linked to the Repo Rate, with concessions for female students and Rinn Raksha scheme participants.

Loan Type Interest Rate (p.a.)* Processing Fee Collateral
Loans up to ₹7.5 Lakhs ~8.15% - 9.50% Nil Not required
Loans above ₹7.5 Lakhs ~9.50% - 11.75% ₹10,000 (Global Ed-Vantage) Required

*Rates are indicative; 0.50% concession for female students. Final rates confirmed by SBI.

Application Process

  1. Submit Inquiry: Fill out our quick online form.
  2. Expert Guidance: Connect with our loan advisor for SBI options.
  3. Document Prep: We’ll help collect required documents.
  4. Application: Submit with our assistance to SBI.
  5. Disbursal: Funds released post-approval per course schedule.

Frequently Asked Questions