This document provides information about an education loan offered by SBI. It details the eligibility requirements, courses covered, expenses covered, loan amounts, interest rates and required documents. Students pursuing higher education in India or abroad can receive loans up to Rs. 10 lacs or Rs. 30 lacs respectively. Interest rates start from 8.45% and loan repayment begins 1 year after course completion over 15 years. Documentation includes proof of identity, residence, income, admission and academic records.

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%