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Eligibility criteria	:	Indian Citizenship
Expenses Considered For Loan	:	Fee payable to school / college / hostel , examination / laboratory / library /tours / project,Purchasing of books / equipment / computer
Small Description	:	SBI (state bank of India) offer education loan to the Indian students for studying in India as well as in abroad for many courses.
Large Description	:	<div class="loan_row"> <h2>Eligible Courses</h2> <h3>To study in India :</h3> <ul> <li style="text-align: justify;">Graduation and post-graduation courses. It does also include all professional & technical degree / diploma courses which are usually conducted by various colleges and universities affiliated by AICTE / UGC / Govt. / IMC etc.</li> <li>Regular diploma / degree courses that are organized under any of the autonomous institutes like IIM, IIT etc.</li> <li>Nursing / teacher training courses under either state or central government.</li> <li>The specific regular diploma / degree courses like pilot training, shipping and aeronautical etc. that are approved by the director of shipping / civil aviation.</li> <li>There are various skill development and vocational training courses. They would not be entertained under SBI education loan because this scheme is supposed to provide higher education to Indian nationals.</li> </ul> </div> <div class="loan_row"> <h3><br />To study abroad :</h3> <ul> <li style="text-align: justify;">Job oriented technical or professional graduation level / post-graduation level / diploma courses such as MBA, MCA, MS etc. which are offered under some reputed universities like Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc,<br /><br /></li> </ul> </div> <div class="loan_row"> <h2>Expenses that can be considered for granting loan</h2> <ul> <li> Fee that is payable to school / college / hostel</li> <li> Fee for the purpose of examination / laboratory / library /tours / project</li> <li> Purchasing of books / equipment / computer that are considered must</li> <li> Passage money / travel expense or expenses to purchase two wheeler vehicle </li> </ul> </div> <div class="loan_row"> <h2><br />Amount of loan Granted</h2> <ul> <li>Rs. 10 Lac maximum for studying in India</li> <li>Rs. 20 Lac maximum for studying abroad </li> </ul> </div> <div class="loan_row"> <h2><br />Interest rates</h2> <h3>Student scheme</h3> <ul> <li> upto Rs.7.5 lacs :2% above MCLR, currently 11.20% p.a.</li> <li> Above Rs.7.50 lacs : 1.70% above MCLR, currently 10.90% p.a.</li> <li> 0.50 % concession for the female students</li> </ul> <h3><br />Scholar scheme</h3> <ul> <li> Ranges from 9.60 % to 11.10 % depending upon the grade of institution falls in.</li> <li> 0.50 % concession for the female students</li> </ul> </div> <div class="loan_row"> <h2><br />Processing fee</h2> <p>Nil</p> </div> <div class="loan_row"> <h2><br />Repayment tenure</h2> <p>15 years</p> </div> <div class="loan_row"> <h2><br />Security</h2> <ul> <li> No security needed for loans up to 4 Lac</li> <li style="text-align: justify;"> UptoRs. 7.5 Lacs:Only Parent/ Guardian as co-borrower. Any Collateral Security or third party guarantee is not required.</li> <li style="text-align: justify;"> Above Rs. 7.5 Lacs:Parent/ Guardian as co-borrower and tangible collateral securityis required. </li> </ul> </div> <div class="loan_row"> <h2><br />Margin </h2> <p>Margin is granted for above Rs. 4 Lac amount of loan which is 5 % for India and 15 % for abroad study. <br /><br /></p> </div> <div class="loan_row"> <h2>Required Documents</h2> <ul> <li> Complete and duly filled application form for loan</li> <li> Proof of studentship</li> <li> 2 photographs</li> <li> Expense schedule</li> <li> PAN and AADHAR Card of the student and Parent/ Guardian</li> <li> Statement of liabilities, assets and income of borrower or co-borrower</li> <li> Identity and Residence proof are required.</li> </ul> </div>
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