Education Loan

STATE BANK OF INDIA

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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 lacsInterest RateFor loans upto Rs.4 lacs - 11.50% p.a. FloatingFor loans above Rs.4 lacs - 12.50% 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
Repayment Tenure
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Place of Study
Loan Amount
Repayment Period in Years
In India
Up to Rs. 7.5 lacs 5-7

Above Rs. 7.5 lacs 5-10

Abroad
Up to Rs. 15 lacs 5-7

Above Rs. 15 lacs 5-10

Security
Amount
Studies In India
Studies Abroad
Upto Rs. 4 lacs
No Security
No Security
Above Rs. 4 lacs to Rs. 7.50 lacs
Third Party Guarantee
Third Party Guarantee
Above Rs. 7.50 lacs to Rs. 10 lacs(India)/ Rs. 15 lacs(Abroad)
Tangible Collateral security for full value of loan
Tangible Collateral security of suitable value of loan or third party guarantee
Rs 15 lacs to Rs. 20 lacs
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Tangible Collateral security for full value of loan
Margin
For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs:
Studies in India: 5%
Studies Abroad: 15%
Documentation Required
Completed Education Loan Application Form.
Mark sheets of last qualifying examination
Proof of admission scholarship, studentship etc
Schedule of expenses for the specified course
2 passport size photographs
Borrower's Bank account statement for the last six months
Income tax assessment order, of last 2 years
Brief statement of assets and liabilities, of the Co-borrower
Proof of Income (i.e. Salary slips/ Form 16 etc)
* Conditions Apply Download Form

KEY POINTS ›
Eligible Courses
Expenses considered for loan
Processing Fees
Repayment Tenure
Security
Margin
Documentation Required
RELATED LINKS ›
INTEREST RATES
EMI Calculator
(FORMS) PERSONAL BANKING
(FAQ) EDUCATIONAL LOAN
LIST OF PBB BRANCHES

Australia
Higher education fees in Australia are charged to all students, but Australian citizens and (with some limitations) permanent residents[1] are able to obtain interest free loans from the government under the Higher Education Loan Programme (HELP) which replaced the Higher Education Contribution Scheme (HECS).
Most students are Commonwealth supported, which means the Commonwealth Government pays a contribution to the fees and students are able to defer payment of the remainder of the fees, which for Commonwealth supported students are called the "student contribution".
Some domestic students are full fee-paying (non-Commonwealth supported) and while they are able to obtain subsidised loans from the Government up to a lifetime limit of $100,000 for medicine, dentistry and veterinary science programs and $80,000 for all other programs, they receive no other direct government contribution to the cost of their education. Overseas students are charged fees for the entire cost of their education and are ineligible for any loans from the Commonwealth.
HELP is jointly administered by the Department of Education, Science and Training (DEST) and the Australian Taxation Office (ATO).