SBI Student Loan Scheme

8.67%
mean rate of interest

Up to 15 years
of repayment period (after Course Period)

NIL
Processing charges for loans up to Rs. 20 lacs

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Copy of Copy of Copy of Copy of Copy of Carousel Instagram Post Red and Blue Tones 3d Elem
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  • Security: Upto 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

  • Margin: Up to Rs 4 Lacs - Nil
    Above Rs 4 Lacs - 5% for studies in India, 15% for studies in abroad

  • Loan Amount: 

            Studies in India: Medical Courses: Upto Rs. 30.00 lacs 

                                              Other Courses: Upto Rs. 10.00 lacs 

            Higher loan limit for studies in India may be considered basing on merits on case-to-case basis            


             Studies Abroad: Maximum Rs. 20.00 lacs

  • The interest rates will be floating for entire period of loan

  • Mean rate of interest is 8.67%

  • Repayment period of upto 15 years after Course Period + 12 months of repayment holiday.

  • Repayment Holiday/ Moratorium:  Course period plus 1 year, or 6 months after getting job, whichever is earlier.

  • 0.50% concession in interest for girl students.

  • 0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank.

The verdict

Rating

4.0

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