SBI Education Loan or SBI Student Loan Scheme is a gift by this most preferred bank for all deserving students who dream of pursuing higher studies in India or abroad. The loan is a hassle free means of helping out Indian Nationals by providing them financial assistance required for studying in institutes in India or Abroad. SBI Education Loan are available through the banks hassle free procedure and easy documentation process. The loan details and forms are available online and the extensive network of branches across India provide the much needed assistance to all those deserving students who have not been able to qualify for a full time scholarship program.

SBI Education Loan Interest Rate:

The SBI Education Loan interest rate is competitive and attractive and can be availed for study in India and abroad.

SBI Education Loan rate is 12.25% to 13.75% based on Base Rate which is subject to change. Most students looking for Bank finance for higher education find SBI Education Loan interest rate competitive and affordable for repayment. The bank allows a 0.50% discount for girl students.

SBI Education Loan Eligibility And Expenses Covered:

SBI Education Loan can be availed by any resident Indian. The loan can be availed for any graduation and post graduation courses. All Recognized Courses like:

Graduation, Post Graduation technical and professional courses, teachers training, nursing courses, aeronautical, pilot training and vocational training courses.

• ·ICWA
• ·CA, CFA
• ·IIM
• ·IIT, XLRI, NIFT, IISc

SBI Education Loan rate is also offered for courses by UGC/Govt./AICTE/ICMR programs that qualify for SBI Education Loan eligibility.

The loan applicant has to pay margin money ranging from 5-15 % of the total loan amount applied for courses in India & Abroad.

Other Qualifications For SBI Education Loan Eligibility Are:

1For SBI Education Loan eligibility the candidate should be a Resident Indian.

2Admission to technical courses in India is possible through SBI Education Loan eligibility.

3A co-applicant is required for full time courses.

4The maximum loan for studies in India is at the maximum is Rs.10 lacs

5The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered by taking the SBI Education Loan interest rate is

1. College Fee

2Hostel and Library charges

3Caution deposit (not to exceed 10% of total tuition fee)

4Money to go abroad

5Money for Study tours, Project work, Computer etc.

6Cost of two wheeler up to Rs 50,000

SBI Education Loan Review And Documentation:

According to the SBI Education Loan review the student would need to provide the following documents for the processing of the loan apart from Proof of Age, Signature, Identity and Residence:

1Fully completed loan application form along with Institutes Admission letter with Fee Break up.

2Two Photographs

SBI Education Loan Review And Documentation For The Salaried Co- Borrower:

1Bank Statement for last 6 months.

2Income Tax Statement for the last two years

3A brief about the asset and liabilities possessed by the borrower

4Latest 2 Salary slips

SBI Education Loan Review And Documentation For The Self Employed Individual:

1Bank Statement

2Income Tax Return

3Profit and Loss Account or Balance Sheet of the Company

4Proof of Qualification.

SBI Education Loan Review And Application Procedure:

SBI Education Loan application forms are available at all bank branches across India. The filled up forms can be then submitted along with the loan application at the branch. The loan will be disbursed in installments to the college or institute directly.

SBI Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back in maximum 5 to 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. Check with your nearest branch for pre closure charges or late fee charges.

SBI Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on SBI Education Loan eligibility and SBI Education Loan Rate etc. are on the official site at http://www.statebankofindia.com/user.htm