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Student Loan

Student Loan

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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 for
    Ranked Top 100 by NIRF
    Other 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

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 : Saturday, 07-02-2026

Interest Rates

7.05% p.a.*

*T&C Apply.

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