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Home » Wing Your Dream of Studying Abroad with the Affordable Interest Rates of SBI Education Loans

Wing Your Dream of Studying Abroad with the Affordable Interest Rates of SBI Education Loans

SBI education loan

State Bank of India (SBI) brings you a loan that allows you to study with less stress and focus on your education. All the SBI Education Loans are available at the lowest interest rates, making them the most preferred choice for students. You can use these loans to fund anything related to education in India or abroad, such as fees and expenses incurred during admission and graduation preparation. With flexible tenures and easy repayment options including pre-payment without any charges, SBI Education Loans are a great option for students seeking funding for their education. Apart from the low-interest rates, you can also avail a wide range of tenures. Choose from a minimum tenure of 12 months and make the most of the moratorium period after course completion. You can pay off your loan at any time during its tenure, or even get interest concessions in some exceptional cases.

Student loans are available for a full-time and part-time degree, diploma and certificate courses at recognized universities, technical institutes, and other academic institutions in India as well as abroad. But the first thing that matters and confuses the applicant is the interest rate of any SBI education loan. Considering the vast variety of Education Loans at SBI, students tend to mislead themselves, so let’s discuss the interest rates and other aspects of each of these education loans.

SBI Student Loan

  • Interest Rates: 8.05 – 10.05%

  • Nature of ROI: Floating

  • Processing Fees: Loans up to Rs. 20 lacs: NIL

  • Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)

  • Collateral: For loans up to Rs.7.5 lakh: None

  • For loans above Rs.7.5 lakh: Tangible collateral

  • Repayment Tenure: 15 years after the course ends + repayment holiday of 12 months

SBI Scholar Loan

  • Interest Rates: 7.50 – 8.95%

  • Nature of ROI: Floating

  • Processing Fees: None

  • Collateral: Only for List A and List C colleges

  • Repayment Tenure: 15 years after the course ends + repayment holiday of 12 months

SBI Global ED-Vantage Loan

  • Interest Rates: 8.05 – 10.05%

  • Nature of ROI: Floating

  • Processing Fees: Rs. 10,000/- per application

  • Collateral: Tangible collateral security

  • Repayment Tenure: Up to 15 years

SBI Skill Loan

  • Interest Rates: 8.05 – 9.55%

  • Nature of ROI: Floating

  • Loan Amount: Upto 1.5 Lakhs

  • Collateral: None

  • Repayment Tenure: Up to 7 years

SBI Takeover of Education Loan Scheme

  • Interest Rates: 10.05%

  • Nature of ROI: Floating

  • Processing Fees: None

  • Collateral: Minimum 100% of the proposed loan’s value

  • Repayment Tenure: Upto 15 years

Shaurya Education Loan

  • Interest Rates: 10.05 – 10.65%

  • Nature of ROI: Floating

  • Loan Amount: Rs. 7.50 Lakhs & up to Rs. 1.50 Cr

  • Processing Fees: Loans up to Rs. 20.00 lacs: NIL

Loans above Rs. 20 lacs: Rs. 10,000 (plus GST)

  • Repayment Tenure: Up to 15 years

FAQs

Student loans are available to help cover the cost of studying in India or abroad at a recognized university, technical institute, or other academic institution.

Yes, the State Bank of India covers fees for accommodation provided by the school or college authorities, or in a hostel provided by the educational institution.

Yes, you can purchase a computer or laptop to use in your course as your education loan will cover the costs.

Yes, a 0.50% interest concession for girl students will be permitted.

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