Student Education loans in India

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

State Bank of India

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.
  • Other courses approved by UGC/Government/AICTE etc.
Quantum of Finance
Maximum of Rs. 10.00 lacs for studies in India
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 5%

Studies in Abroad

  • 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.
  • 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
  • Other expense that are required to complete the course - like study tours, project work, thesis, etc.
  • Upto 4.00 lacs - No security.
  • From Rs. 4.00 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, waive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower".
  • 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
Rate of Interest
  • An Interest Rate concession of 0.50% to Girl Student availing Student Loans
  • Upto 4.00 lacs : 0.50% below SBAR i.e. 11.25% p.a.
  • Above 4.00 lacs and upto 7.50 lacs : 1.00% above SBAR i.e. 12.75% p.a.
  • Above 7.50 lacs : At SBAR i.e. 11.75% p.a.
  • Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier. Loan amount must be paid in 5-7 years
Documents required for loan
  • Can download the application form online. Must submit the completed Education Loan Application Form.
  • 2 passport size photographs and mark sheets of last qualifying examination.
  • Proof of admission scholarship, studentship, income etc. and Income tax assessment order of last 2 years.
  • Schedule of expenses for the mentioned course.
  • Must provide borrower's bank account statement for the last six months and brief statement of assets and liabilities, of the co-borrower
For more details visit State Bank of India official website:

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