Skill Loan (Max. Rs. 7.5 lakhs)

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Skill Loan (Max. Rs. 7.5 lakhs)

Skill Loan (Max. Rs. 7.5 lakhs)

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A term loan granted to Indian Nationals for pursuing Skill development courses in India.

Features

  • Tuition / Course Fee
  • Examination / Library / Laboratory fee
  • Caution deposit
  • Purchase of books, equipments and instruments
  • Any other reasonable expenditure found necessary for completion of the Course. (As such courses are localized boarding, lodging may not be necessary. However, wherever it is found necessary, the same could be considered on merits)
  • Minimum Loan Amount: Rs. 5000
  • Maximum loan amount: Rs. 7,50,000
  • Click here for Interest Rate
  • No collateral or third party guarantee will be taken.
  • However, the Parent/ Guardian will execute loan documents along with the student, as joint borrower (co-borrower). Spouse will be included as co-applicant wherever applicable, in addition to Parent/ Natural Guardian.
  • Repayment Tenure
    • Loans upto Rs 50,000 : Upto 3 years
    • Loans between Rs 50,000 to Rs 1 lakh Upto 5 years
    • Loans above Rs. 1 lakh : Upto 7 years

Courses and Institution Eligibility

  • Training Institutes/ Courses: Courses run by Industrial Training Institutes (ITIs), Polytechnics, training partners affiliated to National Skill Development Corporation (NSDC)/ Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) are eligible for a Skilling Loan.
  • Schools recognized by Central or State Education Boards or Colleges affiliated to recognized university leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
  • There is no minimum course duration.

Timeline for Disposal of Loan Application

  • Maximum 6 days, after the receipt of duly completed application with supporting documents.
  • The timeline start from the date of receipt of complete documents from the applicant and the time taken by the applicant for submitting documents and/ or for furnishing information sought by the Bank will not be taken into account for the purpose of timeline indicated above.
  • All timeline counts will be on the basis of full working days. Wherever there is a need for verification etc. with various authorities/ Govt. bodies across one or more centres, a minimum of 15 additional working days will be applicable. We shall endeavour, at all times, to deliver within the indicated timelines, barring in situations and circumstances that are beyond the control of the Bank.
    • Processing Fees: Nil
    • Margin: Nil
  • Moratorium Period
    • Courses of duration upto 1 year : 6 months from the completion of the course
    • Courses of duration above 1 year : 12 months from the completion of the 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

6.90% p.a.*

*T&C Apply.

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