SBI Education Loan Hello friends- In today’s article, we will provide you information about sbi education loan scheme, SBI Education Loan provides sufficient loan amount to those students who want to study further for higher studies after completing intermediate, SBI Education Loan gives you a convenience that you do not need to repay your loan while you are pursuing your course.
After one year of course completion, you have to start education loan repayment, State Bank of India provides you student loan, skill loan, education loan or study abroad loan as per your requirement. Under SBI Education Loan 2023, see the loan for studies and the interest rate of education loan in the order below.
What is education loan?
The loan taken from a bank or private institution for higher education is called Student Loan or Education Loan, by getting this loan any student can fulfill his dream of higher education, if you want to study abroad Even if you want, you can easily take a loan by following the terms and conditions of any bank.
SBI Bank is the largest public sector bank in India that provides education loans to Indian students, SBI Education Loan interest rates start from 7.25% per annum, you can avail loan amount up to Rs.1.5 Crore from the bank, To repay which you are given a repayment period of up to 15 years, although there are some terms and conditions for this loan which need to be fulfilled.
What is SBI Education Loan Scheme-
There are many schemes of SBI Education Loan, under which students who are planning to study abroad can easily get loan from SBI Bank, SBI Bank does not charge any fee for prepayment of education loan, although you If you are taking a loan to study abroad, then the bank will definitely charge you a processing fee of Rs 10,000, SBI Bank also provides interest rate discount for some girl students.
SBI Education Loan Interest Rates
SBI education loan interest rates start from 7.25% per annum and go up to 9.65% per annum. This interest rate varies according to the schemes as you can see in the table below
|SBI student loan||9.05% p.a.|
|SBI Scholar Loan||7.25% to 8.55% p.a.|
|SBI Skill Loan||8.55% p.a.|
|Shaurya Education Loan||9.05% to 9.65% p.a.|
|SBI Global ED – Vantage||9.05% p.a.|
|Takeover of SBI Education Loan||9.05% p.a.|
SBI Education Loan Required Documents
|2.||Income Proof of Graduation|
|5.||Proof of Admission|
|6.||Conditional Application Form|
|7.||Cost of Course (Semester/Year Wise)|
|8.||One Year Bank Statement of Graduation|
|9.||All Educational Marksheets|
Benefits Of SBI Education Loan-
- There is a processing fee of Rs 10,000 while applying for the SBI Global Add-Vantage scheme.
- There is no fee while applying for SBI Education Loan for Domestic.
- There is a concession of 0.50% in the interest rate for girls.
- SBI has not imposed any processing fee on domestic education loan but there is a processing fee of Rs.10,000 on foreign education loan.
- The maximum repayment tenure of SBI Education Loan is 15 years.
- You can get an education loan from ₹ 8 lakh to ₹ 1.5 crore from SBI Bank.
- If you have taken an education loan from any other bank or institution at a higher interest rate, then you can convert that loan to SBI and take SBI education loan to reduce your monthly EMI.
- 0.50% concession for students availing SBI loan protection or other policy in favor of the bank.
- SBI will get 0.50% concession along with concession for girls in favor of SBI.
- Repayment tenure can be up to 15 years and no overhead charges.
How to apply for SBI Education Loan?
You can apply for SBI Education Loan either online or offline, both the methods are given below.
Apply For SBI Student Loan Online
Step 1. First of all go to the official website of SBI.
Step 2. Click on the Education Loan section.
Step 3. Click on the loan you want to apply for.
Step 4. Now a form will open where you have to enter your contact details.
Step 5. A representative of the bank will get in touch with you and help you in taking your application process forward.
SBI Education Loan Apply Offline
Step 1. Visit your nearest SBI bank branch with all the required documents.
Step 2. Contact the bank official.
Step 3. Fill and submit the application form.
दोस्तों आज के इस पोस्ट में आपने SBI Education Loan Interest Rates, SBI Education Loan Required Documents, Benefits Of SBI Education Loan- आदि के बारे में जाना और मैं आशा करता हु की यह लेख आपके लिए काफ़ी मददगार साबित होगा ऐसे ही ज्ञानवर्धक लेख पढने के लिए हमारे साथ बने रहें धन्यवाद…