SBI Education Loan 2018, Documents Required, Courses covered
SBI Education Loan 2018: A term loan/ education loan will be permitted to Indian Nationals for the purpose of completing their UG/ PG courses/ higher education in India as well as in abroad after the admission in the respective course has been done. Check more about SBI Education Loan 2018 below in the article.
- All the bonafide candidates have given a Repayment period for the education loan of up to 15 years after the completion of the selected Course. And a time period of 12 months of repayment is provided to them. No processing/upfront fees will be taxed on the Education loans. Check the details of MOMA Scholarships For Minority Students.
SBI Education Loan 2018
An Education loan will be facilitated to Indian Nationals (students) are eligible for the education loan to complete the higher education study in India or in a foreign country where the candidate wants to study and where the admission is allocated. Candidates can visit the official website of SBI for latest offers. Also, check the details of SBI Clerk Recruitment Details.
SBI Education Load 2018 Courses Covered
Studies in India
- UG, PG courses including technical and non-technical & professional Degree or Diploma courses offered by recognized and affiliated universities/ institutes/ colleges approved by UGC/ AICTE/IMC/Govt.
- And courses including self-governing institutions like IIT, IIM.
- Nursing/ Teacher training courses supported and approved by the State Government or Central government.
- All the Regular Courses (Degree/Diploma) like pilot training, Aeronautical, shipping which are approved by Director General of Civil Aviation/Shipping.
- Professional Courses run by CIMA (Chartered Institute of Management Accountants) in London, and Certified Public Accountant (CPA) in the United States of America etc.
- Job placement courses like professional/ technical UG courses (like B.Tech.) and PG (Post Graduation) Degree & Diploma courses like M.C.A, M.B.A, M.S, etc by reputed universities.
- Tuition Fees which will be payable to respective college/school or hostel.
- Examination Fee or Library Fee or Laboratory fee will be covered.
- All the expenses for study material like Books/Equipment/Instrument/Uniform, and all the essential material including project work for completion of the course (max. 20 percent of the total tuition fees).
- Caution Deposit amount/Building Fund/Refundable/ Security amount (maximum 10 percent of tuition fees).
- Transportation Charges for abroad studies.
- Purchase amount of a 2-wheeler up to 50,000 rupees.
- The Bank will provide maximum Rs. 10 Lacs for studies in India.
- The bank will provide maximum Rs. 20 lacs Studies abroad.
|Below & equal to Rs. 7.5 Lakh||This amount can be given to parent or guardian. No need of Collateral Security or third party guarantee|
|More than Rs. 7.5 Lakh||This amount can be given to parent or guardian with security|
- Below & equal to Rs.4 Lakhs. Check National Scholarship Portal.
- More than Rs. 4 Lakhs: 5% for studies in India, 15% for abroad studies.
- The amount will be repaid after 1 year of the completion of the course.
- The loan would be repaid after 15 years of the completion of the course.
- In case of 2nd loan taken for further studies then the loan should be repaid within 15 years of the completion of the 2nd course. Check the details of Jharkhand E-Kalyan Scholarships.
SBI Education Loan 2018 EMI Generation
- If the repayment is not done before the time period than the EMI would be generated on the monthly basis of principal amount & repayment amount.
- If the interested is repaid before the time limit then the EMI would be generated on the Principle amount.
|Loan Limit||1-year||Spread rate||EI Rate||Repayment period|
|Up to Rs 7.5 Lacs||8.00%||2.00%||10.00%||1 year|
|Above Rs 7.5 Lacs||8.00%||2.75%||10.75%||1 year|
|Concession||0.50% concession in interest for girl students|
|Further Concession||1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration|
- Admission letter.
- Completely filled Loan Application Form.
- 2 passport size photo.
- Statement of course fees.
- PAN Card.
- AADHAR Card.
- Driving license.
- Residential proof.
- Bank account statement of the parent or guardian.
- IT return/ IT assessment order.
- Brief statement of assets & liabilities.
- Income proof.