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How to Get State Bank of India Education Loan ?

How to Get State Bank of India Education Loan ? 

State Bank of India (SBI)
Website : www.sbi.co.in/

Provided study loan amount in India : Upto 10 Lakhs

Provided study loan amount in Abroad : Upto 20 Lakhs

Eligibility :

(a) School/College
(i) Minimum Second Division (Pass marks for SC/ST).
(ii) Parents/guardians having independent source of income. Self-employed/ professionals and those engaged in agriculture and allied activities are eligible. Income should be sufficient enough to bear interest & installment besides normal subsistence and family requirements.

(b) Technical/professional/higher studies in India or abroad.
(i) Minimum First division (Second Division for SC/ST). OR Passing the entrance test for the technical/professional course and securing an admission for the course.
(ii) Parents/guardian having independent regular source of income, including self-employed/ professionals and those engaged in agriculture and allied activities with sufficient income.

Coverage :

Any other expenses required to complete the course like study tours, project work etc.


* For loans up to Rs.4.0 lacs : No Margin.
* For loans above Rs.4.0 lacs: Studies in India: 5%;Studies Abroad: 15%

Interest Rate :

* For loans up to Rs.4 lacs – 0.50% below SBAR i.e.12.25% p.a. Floating.
* For loans above Rs. 4 lacs and upto Rs.7.50 lacs – 1.00% above SBAR 13.75 % Floating.
* For loans above Rs.7.50 lacs – SBAR – 12.75% p.a. Floating.

Processing Fee :

No processing fee/ upfront charges.Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
Re-Payment :

Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier. Place of Study Loan Amount Repayment Period in Years .Studies in India Rs. 10.0 lacs 5-7 .Studies Abroad Rs. 20.0 lacs 5-7

Security :

Amount For loans up to Rs. 10.00 lacs for Studies in India and up to Rs. 20.00 lacs for studies abroad.Up to Rs. 4 lacs No Security.Above Rs. 4 lacs to Rs. 7.50 lacs Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as “joint borrower”. Above Rs. 7.50 lacs. Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments. All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law

Documents :

Completed Education Loan Application Form.Mark sheets of last qualifying examination.Proof of admission scholarship, studentship etc.Schedule of expenses for the specified course.2 passport size photographs.Borrower’s Bank account statement for the last six months.Income tax assessment order, of last 2 years.Brief statement of assets and liabilities, of the Co-borrower.Proof of Income (i.e. Salary slips/ Form 16 etc).



  1. sir,

    I have taken education loan of Rs3.9 lakhs from SBI in the year 2010 for my B.tech. What is the interest criteria. Please help me as soon as possible

    • Your Education loan would have the moratorium period of 4 years + one year , If u serve interest in this period than u would get the benefit of interest and principal…after the end of moratorium period EMI get fixed……

  2. shyam sundar yadav

    how bihar tet exam?

  3. You are eligible for Education loan……you will have to show them the course admission ticket

Your Question


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