Get Takeover Of Education Loans Online in India

Takeover Of Education Loans

Takeover Of Education Loans

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With SBI Take-over of Education Loans, you can switch your existing high cost Education Loan to SBI and reduce your monthly EMIs.

Education Loans upto ₹3.00 crore
Competitive Interest Rate
Flexible repayment tenure upto 15 years*
No Processing Fee
No Hidden Charges
Pay your EMIs through Net Banking/ Mobile Banking/ Cheques
Avail of top up loan after take over for pursuing further studies subject to submission of required documents with extended repayment period for that course
Insurance to be obtained from the borrower.

Minimum : ₹10 Lakh
Maximum : ₹3.00 crore
Covers limit sanctioned in partial disbursed loans/ Outstanding for fully disbursed loans
+Limits sanctioned as Top Up Loan (if any)
+Prepayment Penalty (if any)

Collateral free loans offered to students admitted in Scholar Institutes for studies in India (a link to be provided taking the user to a Scholar loan institute list)
Collateral free loans offered to students admitted in select premier Institutes for studies abroad (a link to be provided taking the user to a Global Ed-Vantage list)
Other schemes, the collateral security acceptable to the bank to be minimum 100% of the value of the proposed loan*.

Loan to be a fresh (first-time) takeover.
The loan can be taken over anytime during the entire loan term i.e., Course+ moratorium+ repayment period.
Loan should be standard in the books of other Bank/Financial Institution

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 : Wednesday, 08-04-2026