Student Loan - Apply for Student Loan Online in India |SBI - Personal Banking
Student Loan Scheme New
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Features
- Loan Amount
- - Studies in India
Maximum Loan limit forRanked Top 100 by NIRFOther eligible institutions
Medical (MBBS / MD / MS)
Upto ₹ 75.00 lakh
Upto ₹ 50.00 lakh
All other courses including dental
Upto ₹ 50.00 lakh
Upto ₹ 30.00 lakh
Higher loan limit is considered on case-to-case basis as under:
Medical (MBBS / MD / MS)
Need based loans
Upto ₹ 1.00 crore
All other courses including dental
Upto ₹ 1.00 crore
Upto ₹ 50.00 lakh
- - Studies abroad: Upto ₹7.50 lakh (Higher loan limit for Studies abroad are considered under Global Ed-vantage Scheme, maximum upto ₹ 3.00 Crores)
- Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*
- Processing Charges
- Loans upto ₹ 20 lakh: NIL
- Loans above ₹20 lakh: ₹ 10,000 (plus taxes)
- Security
- Upto ₹ 7.5 lakh: Only Parent/ Guardian as co-borrower. No Collateral Security or third-party guarantee
- Above ₹ 7.5 lakh: Parent/ Guardian as co-borrower and tangible collateral security
- Margin
- Up to ₹4 lakh - Nil
- Above ₹4 lakh - 5% for studies in India, 15% for studies in abroad
- Repayment will commence one year after completion of course.
- Loan to be repaid in 15 years after the commencement of repayment
- In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course
- 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.
- Please click here for Rate of interest
Eligibility
- A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Courses Covered
Studies in India
- Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc.
- Teacher training/ Nursing courses approved by Central government or the State Government
- Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority b. Studies abroad:
- Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.
Studies abroad
- Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities.
- Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.
Expenses Covered
- Fees payable to college/school/hostel
- Examination/Library/Laboratory fees
- Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course).
- Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course).
- Travel Expenses/Passage money for studies abroad.
- Cost of a Two-wheeler upto ₹ 50,000/-
- Any other expenses required to complete the course like study tours, project work etc.
Checklist for Education Loan
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Forms |
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Loan Application Form |
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Asset-Liability Statement of applicant/Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs) |
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KYC Documents |
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Applicant with KYC compliant account with SBI |
New Customer/ KYC non-compliant account with SBI |
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No fresh KYC document is required.
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Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card. |
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Address proof to be provided in case of change of address. |
PAN is mandatory if not available in system. |
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PAN is mandatory if not available in your account |
Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity |
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AADHAR to be updated for any application for subsidy schemes of government. |
AADHAR to be updated for any application for subsidy schemes of government. |
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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. |
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Student Academic details |
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Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result |
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Proof of admission to course [Offer Letter/ Admission Letter/ ID card if available] |
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Schedule of expenses for course |
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Copies of letter conferring scholarship, free-ship, etc. (if any) |
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Gap certificate, if applicable |
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Income Proof for Co-applicant/ Guarantor |
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Salaried |
Non-Salaried |
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Latest Salary Slip or Salary Certificate |
Business address proof |
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Copy of latest Form 16 or IT Returns (ITR V) |
Latest IT returns |
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Account Statement |
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Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s |
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Security |
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Immovable Security (Land/Building): |
Movable Security |
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Permission for construction (where applicable) |
Bank Deposit (TDR/ STDR/ RD), |
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Copy of non-agriculture land permission |
Insurance Policy (SBI Life/ LIC), |
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Copy of Sale Deed and other documents of title to property in respect of immovable property |
Govt Securities/Bond issued by PSUs, |
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Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt |
Mutual Fund schemes of SBI MF (FMP / DAF) |
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Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property) |
FCNR deposits. |
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Any other document required to establish the chain of title |
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Last Updated On : Saturday, 07-02-2026
Interest Rates
6.95%
2 years to less than 3 years
5.75% p.a.
for loan amount up to Rs. 2 lacs
7.90% p.a.
for loan amount > Rs. 2 lacs up to Rs. 6 lacs
Education Loan Home
Studies abroad (above Rs. 7.50 lakhs)
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Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
6.95%
2 years to less than 3 years
5.75% p.a.
for loan amount up to Rs. 2 lacs
7.90% p.a.
for loan amount > Rs. 2 lacs up to Rs. 6 lacs




