SBI Educational loan details – Biginius.com – College admission, Scholarship, Loan, Mess & Hostel Booking

SBI Student Loan Scheme Features;

Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*
Processing Charges
- Loans upto Rs. 20 lacs : NIL
- Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
Security
- Upto Rs. 7.5 Lacs:Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
- Above Rs. 7.5 Lacs:Parent/ Guardian as co-borrower and tangible collateral security
Margin
- Up to Rs 4 Lacs – Nil
- Above Rs 4 Lacs – 5% for studies in India, 15% for studies in abroad

Repayment will commence one year after completion of course.
Loan to be repaid in 15 years after the commencement of repayment
In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course
EMI Generation
- The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).
- If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.

SBI STUDENT LOAN SCHEME
Loan Limit	EBR		CRP		Effective Interest Rate		Rate Type
Upto Rs 7.5 Lakhs	9.15%		2.00%		11.15%		Floating
Concession	0.50% concession in interest for girl students
Above Rs 7.5 Lacs	9.15%		2.00%		11.15%		Floating
Concession	0.50% concession in interest for girl students
	0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI SCHOLAR LOAN SCHEME (Including TAKEOVER and PART-TIME COURSES for select institutes)
List		EBR	CRP	Business Strategy Premium/ Discount		Effective Interest Rate	Rate Type
AA	IITs	9.15%	0.00%	(-) 1.05% to (-) 1.00%		Starting 8.10% (With or without co-borrower)	Floating
	Other institutes	9.15%	0.05%	(-) 1.15% to (-) 1.05%		Starting 8.05% (With or without co-borrower)	Floating
A	IITs	9.15%	0.00%	(-) 1.00%		8.15%	Floating
	Other institutes	9.15%	0.50%	(-) 1.00%		8.65%	Floating
B	All NITs	9.15%	0.50%	(-) 1.00%		8.65%	Floating
	Other institutes	9.15%	1.00%	(-) 1.00%		9.15%	Floating
C	All NITs	9.15%	0.50%	(-) 1.00%		8.65%	Floating
	Other institutes	9.15%	1.50%	(-) 1.00%		9.65%	Floating

SBI SKILL LOAN SCHEME
Loan Limit	EBR	CRP	Effective Interest Rate	Rate Type
Upto Rs 1.5 Lakhs	9.15%	1.50%	10.65%	Floating
Concession	No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit	EBR	CRP	Effective Interest Rate	Rate Type
Above Rs. 7.50 lakhs & Upto Rs 1.5 Cr	9.15%	2.00%	11.15%	Floating
Concession	0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank
Further Concession	0.50% concession for girl students

SBI TAKEOVER EDUCATION LOANS SCHEME (Under Student Loan & Global Ed-Vantage Scheme)
Loan Limit	EBR	CRP	Effective Interest Rate	Rate Type
Above Rs 10 lakhs & Upto Rs 1.5 Cr	9.15%	2.00%	11.15%	Floating
Concession	0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank
Further Concession	0.50% concession for girl students
SHAURYA EDUCATION LOAN (For spouse/wards of Defence, Indian Coast Guard & Central Armed Police Personnel)
Loan Limit	EBR	CRP	Effective Interest Rate	Rate Type
Upto 7.50 lakhs	9.15%	2.00%	11.15%	Floating
Concession	0.50% concession in interest for girl students
Above Rs. 7.50 Lakhs & Upto Rs. 1.50 Cr
In case of Secured Loan	9.15%	2.00%	11.15%	Floating
In case of Unsecured Loan	9.15%	2.60%	11.75%	Floating
Concession	0.50% concession for girl students
Concession	0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

*EBR = Repo Rate + Spread,
Currently: Repo rate = 6.50%
Spread = 2.65%
EBR = 9.15%

Last Updated On : Monday, 24-06-2024

NOTE:-This information has been given from the official website of SBI.