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Scholar Loans

Scholar Loans

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 Scholar Loans

Loan for pursuing higher education in Select Premier Institutions of the country. (Click here for list of institutions in Scholar Loan Scheme)

Features

  • 100% Financing
  • NO Processing Fee
  • Quick sanction at Designated Campus Branch or more than 5000 Selected Branches all over the country
  • Repayment period of upto 15 years after Course Period + 12 months of repayment holiday
  • Regular full time Degree/ Diploma Courses through entrance test/ selection process.
  • Full time Executive Management Courses like PGPX
  • Part-time Graduate/ Post-Graduate Courses offered by  Select Institutes

Eligible expenses

  • Fees payable to College/School/Hostel
  • Examination/ Library/ Laboratory fees
  • Purchase of Books/Equipments/Instruments
  • Caution deposit / building fund/ refundable deposit supported by Institution bills/ receipts [not to exceed 10% of the tuition fees for the entire course].
  • Travel expenses/expenses on exchange programme ^
  • Purchase of computer/laptop ^
  • Any other expenses related to education
    • No voucher/ receipt required, purpose (end use) need to be self-certified.
    • Expenditure not to exceed 25% of the loan amount (upto a lumpsum amount of max Rs. 1 Lac).
    • Expenditure beyond 25% cap permitted subject to production of voucher/ receipt.
  • Please click here for Rate of interest

Loan Amount & Security

Category Maximum Loan Limit
  No Security, only Parent/ Guardian as co-borrower With tangible collateral of full value and Parent/ Guardian as co-borrower
List AA Rs. 50 lacs Need based loan
List A Rs. 40 lacs Need based loan
List B Rs. 30 lacs Need based loan
List C Rs. 7.5 lacs ₹ 1.00 crore

In case of married person, co-obligator can either be spouse or parent/ parent-in-law. Parental co-obligation can also be substituted by a suitable third-party guarantee.

EMI Generation
  • The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Instalments (EMI).
  • If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.

Eligibility

  • Should be an Indian National
  • Secured admission to Professional/Technical courses in Select Premier Institutions through Entrance Test/Selection process

Repayment

  • To be repaid in EMIs over a maximum repayment term of 15 years (180 EMIs). The repayment of EMI starts 12 months after the completion of the course or 6 months after getting the employment, whichever is earlier.
  • In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course

Checklist for Education Loan

Forms

Loan Application Form

Asset-Liability Statement of applicant/Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs)

KYC Documents

Applicant with KYC compliant account with SBI

New Customer/ KYC non-compliant account with SBI

No fresh KYC document is required.

Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card.

Address proof to be provided in case of change of address.

PAN is mandatory if not available in system.

PAN is mandatory if not available in your account

Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity

AADHAR to be updated for any application for subsidy schemes of government.

AADHAR to be updated for any application for subsidy schemes of government.

Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record.

Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record.

Student Academic details

Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result

Proof of admission to course [Offer Letter/ Admission Letter/ ID card if available]

Schedule of expenses for course

Copies of letter conferring scholarship, free-ship, etc. (if any)

Gap certificate, if applicable

Income Proof for Co-applicant/ Guarantor

Salaried

Non-Salaried

Latest Salary Slip or Salary Certificate

Business address proof

Copy of latest Form 16 or IT Returns (ITR V)

Latest IT returns

Account Statement

Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s

Security

Immovable Security (Land/Building):

Movable Security

Permission for construction (where applicable)

Bank Deposit (TDR/ STDR/ RD),

Copy of non-agriculture land permission

Insurance Policy (SBI Life/ LIC),

Copy of Sale Deed and other documents of title to property in respect of immovable property

Govt Securities/Bond issued by PSUs,

Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt

Mutual Fund schemes of SBI MF (FMP / DAF)

Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)

FCNR deposits.

Any other document required to establish the chain of title


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Last Updated On : Monday, 09-02-2026

Interest Rates

7.05% p.a.*

*T&C Apply.

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