State Bank of India Education Loans 2023/24 | SBI Education Loans Apply Now

SBI Education loans are for both domestic and international courses. You can get a loan to study for both vocational and professional degrees. Offers interest rates start at 6.65%.

Table of Contents

SBI Student Loan

Maximum loan amount more than 20 lakhs
Repayment period up to 15 years after completion of the course with 12 months grace period.
Processing fee applied above 20 lakhs of Rs.10,000 + GST.
Up to loan amount Rs. 7.5 lakhs no collateral or guarantor required.
Interest rates applied 8.65% pa
For Girls 0.5% discount on interest rate

Scholar Loans

Maximum loan amount more than 40 lakhs
Repayment period up to 15 years after completion of the course with 12 months grace period.
Processing fee applied – NIL.
No collateral needed, only guardian as co-borrower.
Interest rates applied 6.65%- 8.15% pa
Indian National who is chosen via passing entrance exam or selection process.

Studies Abroad – SBI Global ED-Vantage

Maximum loan amount more than 1.5 crores
Repayment period up to 15 years after completion of the course with 12 months grace period.
Processing fee applied – Rs.10,000
Tax Benefit under section 80(E)
Interest rates applied 6.65%- 8.65% pa
Online application process

Skill Loan

Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
Loan Repayment
Up to 50,000 – 3 years
50,000 to 1 lakh – 5 years
More than 1 lakh – 7 years
No collateral needed
Processing fee applied – NIL.
Interest rates applied 6.65%- 8.15% pa

Takeover Education Loan

Switch your education loan to SBI and you can reduce your EMIs
Minimum loan amount Rs.5,000 and Maximum 1.5 lakhs
Repayment period up to 15 years after completion of the course with 12 months grace period.
Processing fee applied – NIL.
Interest rates applied 6.65%- 8.65% pa
For Girls 0.5% discount on interest rate

Eligible Courses For Studying Abroad

Regular Graduate Degrees
Regular Post-Graduate Degrees
Certificate Courses
Doctorate
Diploma Courses

How To Apply For SBI Education Loans

Offline Application

Visit your nearest SBI branch.
Take all the required documents with you.
Understand the terms and conditions applied.
Fill out the application form and submit it.

Online Application

Go to the SBI website
Click on loans, Select Education loans
You will be directed to the educations loans various schemes page
Choose the scheme you required
Click on Apply now
An application form will be opened
Fill in the details asked
Submit the documents asked
Submit the application

Basic Documents Required For SBI Education Loans

ID proof (Voter id/adhar card/passport/PAN card/Driving license)
Address proof
Passport size photo
Academic records
Admission proof – offer letter/admission letter
Bank statements of past 1 year
If any other loan is taken, that loan details

For Co-Applicant

ID proof (Voter id/adhar card/passport/PAN card/Driving license)
Address proof
Passport size photo
Bank statements of past 1 year
If any other loan is taken, that loan details

SBI Interest Subsidy Schemes

Dr. Ambedkar Central Sector Scheme – This scheme is applied for higher studies abroad linked with an education loan scheme for students who want to pursue a master’s degree. This scheme is for Economically week class.

Contact Details

Call – 1800110009 / 18004253800

Official Website – SBI Education Loans

Padho Pradesh Scheme – This scheme is also applied for higher studies abroad linked with an education loan scheme for students who want to pursue a master’s degree. This scheme is for the Economically weak class and minority section of society.