Educational Loans from State Bank of India (SBI)

Posted Date: 13 Aug 2009	Resource Type: Articles/Knowledge Sharing	Category: Educational Loans
Author: Ram Patidar	Member Level: Gold
Rating:	Points: 2

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses
All courses having employment prospects are eligible.
* Graduation courses/ Post graduation courses/ Professional courses
* Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan
* Fees payable to college/school/hostel
* Examination/Library/Laboratory fees
* Purchase of Books/Equipment/Instruments/Uniforms
* Caution Deposit/Building Fund/Refundable Deposit
* Travel Expenses/Passage money for studies abroad
* Purchase of computers considered necessary for completion of course
* Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc

Amount of Loan
* For studies in India, maximum Rs. 10 lacs
* Studies abroad, maximum Rs. 20 lacs

Interest Rate
For loans upto Rs.4 lacs - 12.75% p.a. Floating
For loans above Rs.4 lacs - 13.75% p.a. Floating

Processing Fees
* No processing fee/ upfront charges
* Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money.

Online Application Form available on
http://www.sbi.co.in/downloadfile.jsp?fileid=82

For more details, visit http://www.sbo.co.in

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