"EDUCATION LOAN".

1. EDUCATION LOAN
Presented by :
BHARATH SOMASHEKAR

2. Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India or
abroad where admission has been secured.
• Repayment period of upto 15 years after Course Period ,6 months after course
completion or getting employment, WIE.
• No processing / upfront charges will be levied on Education loans.

3. Courses Covered
a. Studies in India:
• Graduation, Post-graduation including regular technical and professional Degree/Diploma
courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc.
• Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc.
• Teacher training/ Nursing courses approved by Central government or the State
Government.
• Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved
by Director General of Civil Aviation/Shipping/ concerned regulatory authority.

4. Courses Covered
b. Studies in abroad:
• Job oriented professional/ technical Graduation Degree courses/ Post
Graduation Degree and Diploma courses like MCA, MBA, MS, etc
offered by reputed universities.
• Courses conducted by CIMA (Chartered Institute of Management
Accountants) - London, CPA (Certified Public Accountant) in USA etc.

5. • Fees payable to college/school/hostel.
• Examination/Library/Laboratory fees.
• Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers-
essential for completion of the course .
• Travel Expenses/Passage money for studies abroad.
• Any other expenses required to complete the course like study tours, project work
etc.
Expenses Covered

6. Loan Amount
• For studies in India - maximum Rs. 10 lacs.
• Studies abroad - maximum Rs. 30 lacs.
• Higher loan limit for studies in India are considered on case-to-case basis.
• Higher loan limit for studies abroad are considered under our SBI Global
Ed-Vantage Scheme.
$

7. Particular Security
Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Security
or third party guarantee
Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and tangible
security
In case of married person, co-obligator can be either spouse or the parents.

8. • 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.

9. ROI for the quarter Jan-Mar’18 - 9.92%
SBI STUDENT LOAN SCHEME
Loan Limit 1 year
MCLR
Spread Effective
Interest Rate
Reset Period
Upto Rs 7.5
Lacs
8.45% 2.00% 10.45% 1 year
Concession 0.50% concession in interest for girl students
Above Rs 7.5
Lacs
8.45% 2.25% 10.70% 1 year
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

10. SBI SCHOLAR LOAN SCHEME
Category
1 year MCLR Spread Effective
Interest Rate
Reset Period
List AA R-1 8.45% 0.20% 8.65% 1 year
Concession No Further Concession
List A All IIMs & IITs 8.45% 0.35% 8.80% 1 year
Other institutes 8.45% 0.50% 8.95% 1 year
Concession No Further Concession
List B All NITs 8.45% 0.50% 8.95% 1 year
Other institutes 8.45% 1.00% 9.45% 1 year
Concession No Further Concession
List C All NITs 8.45% 0.50% 8.95% 1 year
Other institutes 8.45% 1.50% 9.95% 1 year
Concession No Further Concession
ROI for the quarter Jan-Mar’18 - 8.79%

11. Mean ROI for the quarter Jan-Mar’18 - 9.77%
SBI SKILL LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective
Interest Rate
Reset Period
Upto Rs 1.5 Lacs 8.45% 1.50% 9.95% 1 year
Concession No Further Concession

12. Student Loan Amount
Interest Rate per annum chargeable to
SCAs Student
For students within India Upto Rs10.00 Lakh 1.5% 4%
(0.5% rebate for
women beneficiaries)
For abroad students Upto Rs20.00 Lakh 1.5% 4%
(0.5% rebate for
women beneficiaries)

13. I) Student-applicant:
• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
• Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/
Electricity Bill/Water Bill/ copy of Passport/ Driving License/ Aadhaar Card
• Passport to be mandatorily submitted in case of Studies Abroad
• Academic Records:
10th Result
12th Result
Graduation Result- Semester-wise (if applicable)
Required

14. • Entrance Exam Result through which admission is being taken (e.g. CAT, CMAT,
JEE, NEET, CET, GMAT, GRE, TOEFL, etc.)
• Proof of admission: Offer Letter or Admission Letter from the Institution.
Conditional admission letter may be considered in case of studies abroad.
• Statement of cost of study/Schedule of expenses
• 2 passport-size photographs
• If any previous loan from other Banks/Lenders, then Loan A/C statement for last
1 year

15. II) Co-applicant:
• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card.
• Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/
Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/
Aadhaar Card.
• 2 passport-size photographs.
• If any previous loan from other Banks/Lenders, then Loan A/C statement
for last 1 year.

16. III) Income Proof for Salaried Co-applicant/ Guarantor:
• Salary Slip or Salary Certificate of last 3 months.
• Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years,
acknowledged by IT Dept.
• Bank account statement for last 6 months (of Salary Account).

17. IV) Income Proof for Self-employed Co-applicant/ Guarantor:
• Business address proof (If applicable).
• IT returns for last 2 years (if IT payee).
• TDS Certificate (Form 16A, if applicable).
• Certificate of qualification (for C.A./ Doctor and other professionals).
• Bank account statement for last 6 months.
Note: All documents should be self-attested.

18. Banks/NBFC Loan Amount Rate of Interest
Axis Bank
Up to Rs. 4 Lakhs 15.20%
Loans greater than Rs. 4 Lakhs and upto Rs. 7.5 Lakhs 14.70%
Loans greater than Rs. 7.5 Lakhs 13.70%
Bank of Baroda For all loan types and amounts 8.50% onwards
Canara Bank
Up to Rs. 4 Lakhs 10.40%
Rs. 4 Lakhs to Rs. 7.50 Lakhs 10.40%
Loans above Rs. 7.50 lakhs 10.20%
Rate of Interest of Different Banks

19. HDFC Bank
Minimum APR 9.00%
Maximum APR 13.86%
Average APR 11.57%
Kotak Mahindra Bank For all loan types and amounts 11.5% to 24%
Punjab National Bank
PNB Kaushal 8.55% onwards
PNB Saraswati/Udaan 10.30% onwards
PNB Pratibha (for admission to IITs , IIMs and
XLRI Jamshedpur)
8.45% onwards
PNB Pratibha (for admission to other colleges) 8.55% onwards
PNB Honhaar 10.45%