Sarkari Education Loan SBI Student Loans Scheme 2024

Sarkari Education Loan SBI Student Loans Scheme 2024

Sarkari Education Loan SBI Student Loans Scheme 2024 Introduction: Securing quality education often comes with a financial burden, but the State Bank of India (SBI) is here to ease the journey for Indian nationals aspiring for higher education.

In this comprehensive guide, we’ll explore the features, eligibility criteria, and benefits of SBI’s student loans, catering to both domestic and international educational pursuits.

Key Features: Sarkari Education Loan SBI Student Loans Scheme 2024

SBI’s student loan for higher education encompasses various features designed to support students in pursuing their academic goals. Here’s a breakdown of the key features:

Repayment PeriodUp to 15 years after Course Period + 12 months repayment holiday
Processing ChargesLoans up to Rs. 20 lacs: NILLoans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
SecurityUp to Rs. 7.5 Lacs: Only Parent/Guardian as co-borrower. No Collateral Security or third-party guarantee

Above Rs. 7.5 Lacs: Parent/Guardian as co-borrower and tangible collateral security

MarginUp to Rs 4 Lacs – Nil

Above Rs 4 Lacs – 5% for studies in India, 15% for studies abroad

Repayment CommencementOne year after completion of the course
EMI GenerationAccrued interest during the moratorium and course period added to the principal, with fixed Equated Monthly Installments (EMI)
EligibilityIndian Nationals pursuing higher education in India or abroad with secured admission

Courses Covered: Sarkari Education Loan SBI

SBI’s student loans cover a wide array of courses both in India and abroad, including:

  • Studies in India: Graduation, Post-graduation, technical and professional Degree/Diploma courses approved by UGC/AICTE/IMC/Govt., Teacher training/Nursing courses, and more.
  • Studies abroad: Job-oriented professional/technical Graduation Degree courses/Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc., offered by reputed universities.
Sarkari Education Loan SBI Student Loans Scheme 2024
Sarkari Education Loan SBI Student Loans Scheme 2024

Expenses Covered: SBI Student Loans Scheme 2024

SBI’s student loans extend financial support for various educational expenses such as:

  • Fees payable to college/school/hostel
  • Examination/Library/Laboratory fees
  • Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers essential for course completion
  • Caution Deposit/Building Fund/Refundable Deposit
  • Travel Expenses/Passage money for studies abroad
  • Cost of a Two-wheeler up to Rs. 50,000/-
  • Any other expenses required to complete the course like study tours, project work, etc.

Loan Amount: Education Loan SBI Student Loans Scheme 2024

The loan amount varies based on the type of course and location:

  • Studies in India: Medical Courses – Up to Rs. 30 lacs, Other Courses – Up to Rs. 10 lacs (Higher loan limit considered on a case-to-case basis, maximum up to Rs. 50 lacs)
  • Studies abroad: Up to Rs. 7.50 lacs (Higher loan limit considered under Global Ed-vantage Scheme, maximum up to Rs. 1.50 Crores)

Documents Required for Education Loan

Educational Documents– Mark sheets of 10th, 12th, and Graduation (if applicable)
– Entrance Exam Result
Proof of Admission– Offer Letter/Admission Letter/ID card (if available)
Financial Details– Schedule of expenses for the course
– Copies of scholarship, free-ship, etc. letters
Gap Certificate (if applicable)– Self-declaration for gaps in studies
Photographs– Passport-size photos of Student, Parent, Co-borrower, and Guarantor (1 copy each)
Financial Statements (for loans above Rs 7.50 lacs)– Asset-Liability Statement of Co-applicant/Guarantor
Salaried Individuals– Latest Salary Slip
– Form 16 or the latest IT Return (ITR V)
Other Than Salaried Individuals– Business address proof (if applicable)
– Latest IT Returns (if applicable)
Bank Statements– Last six months Bank Account Statement of Parent/Guardian/Guarantor
Apply For Loan Click Here
Free Job Alert Click Here
website Click Here

In conclusion, SBI’s student loans offer a pathway to quality education, with flexible terms and comprehensive coverage. Explore the opportunities that Sarkari education brings, backed by the support of SBI’s student loan offerings.

Sarkari Education Loan SBI Student Loans Scheme 2024
Sarkari Education Loan SBI Student Loans Scheme 2024

Thank you for reading the post. If you have any complaint about our post then please contact us.

Anu Radha Sharma
Anuradha Sharma is an experienced blogger and designer who is passionate about creating informative websites. After graduating in 2017, he started his journey of providing valuable information about government jobs and results through WordPress websites. With more than 25 websites, including the famous SarkariResult, Anuradha has honed his skills in blogging.Connect with Anuradha Sharma:

1 thought on “Sarkari Education Loan SBI Student Loans Scheme 2024”

Leave a Comment