SBI Student Loan: What is SBI Student Loan? Know the interest rate, processing fee, and other important information
SBI Student Loan to Study in India 2022: welcome to shikshapress. In today’s time, every student gets higher education. Although the fees of big college-university are very high. In such a situation, education loan for students is very useful. Banks give loans to students for their education. State Bank of India also offers education loans. SBI Student is a term loan. Which is given to Indian citizens to pursue higher education in the country and abroad. Let us know in detail about the SBI student loans.
SBI Student Loan to study in India
*Graduation, Post Graduation, etc. including regular technical and professional degree/diploma courses conducted by Colleges/Universities approved by UGC/IMC/Govt. Also includes regular degree and diploma courses run by autonomous institutes like IITs, IIMs, etc.
* SBI Student Loan is also given for teaching training/nursing courses approved by the Central Government and State Government.
* Apart from these, SBI student loan to study in India 2022 are available for regular degree/diploma courses like aeronautics, pilot training, shipping, etc. approved by the Director General of Civil Aviation/Shipping/Regulatory Authority concerned.
SBI Student Education Loan To Study Abroad
SBI Education Loan is given for job oriented professional/technical undergraduate degree courses/postgraduate degrees, diploma courses like MCA, MBA, MS, etc. offered by reputed universities.
SBI Student Loan is given for courses conducted by the Chartered Institute of Management Accountants, Certified Public Accountants in London, etc.
SBI Student Loan Features and Benefits
- Low Interest rates.
- Interest concession for girl students.
- No collateral security is applicable for loans up to Rs.7.5 lakh.
- There is no processing fee for loans up to 20 lakhs.
- Repayment starts one year after the completion of the course.
- SBI Loan repayment facility is available for 15 years after completion of studies.
- No margin for lows up to 4 lakhs.
SBI Education Loan Amount
Students can avail of loans up to Rs 50 lakh for studies in India and up to Rs 1.50 crore for studies abroad.
SBI Loan Rate of interest
- Effective interest rate- 8.65%
- 0.50% rebate in interest for girl students
- Processing fee – Nil on loans up to 20 lakhs
- 10 thousand rupees + (tax) on loan above 20 lakhs.
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