Student Education loans in India

Here know the complete information about Student Education Loans offered by State Bank of Hyderabad India.

State Bank of Hyderabad


Studies in India

Eligibility for Education Loan
  • Must be an Indian National.
  • Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
Eligible Courses for Education Loan
  • Graduation, Post-graduation including technical / professional courses from recognized universities.
Quantum of Finance
Maximum of Rs. 10.00 lacs for studies in India
Margin
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 5%
  • Scholarship /assistantship to be included in margin. Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

Studies in Abroad

Eligibility
  • Must be an Indian National.
  • Secured admission to foreign university/institutions.
Eligible Courses for Education Loan
  • Graduation : For job oriented professional / technical courses offered by reputed universities
  • Post-Graduation - MCA, MBA, MS, PhD etc.
  • Courses conducted by CIMA-London, CPA in USA etc.
Quantum of Finance
Maximum of Rs. 20.00 lacs for studies in abroad.
Margin
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 15%

Common aspects for Indian and Abroad studies

Expenses considered for Education Loan
  • Fee payable to college/school/hostel
  • Payment of course fees
  • Purchase of books/equipments/instruments/uniforms and computer/laptops
  • Examination/Library/Laboratory fee
  • Cost of a Two-wheeler upto Rs. 50,000/-
  • Other expense that are required to complete the course - like study tours, project work, thesis, etc.
Security
  • Upto 4.00 lacs - Co-obligation of parent / guardian is compulsory. No security.
  • From Rs. 4.00 lacs to Rs.7.50 lacs - Collateral in the form of a suitable third party guarantee.
  • Above Rs.7.50 lacs - Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments
Rate of Interest
  • @2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period
Repayment
  • Course period + one year or six months after getting job, whichever is earlier. 5 to 7 years after commencement of repayment.
For more details visit State Bank of Hyderabad official website: sbhyd.com

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