SBI Education Loans provide flexible and affordable financing options for students pursuing higher education in India and abroad. With various schemes offered to meet different needs and profiles, SBI ensures that financial constraints do not hinder students from achieving their academic goals. The loans come with competitive interest rates, tax benefits, and flexible repayment options, making them a popular choice among students and parents alike.
SBI Education Loans help students achieve their educational goals in India and abroad, offering flexible loan options with interest rates starting from 8.50% per annum. The bank provides loans up to ₹1.5 crore, covering expenses like tuition fees, books, and travel.
Table of Contents:
SBI offers various education loan schemes with competitive interest rates. The interest rates are linked to the External Benchmark Rate (EBR) and will vary (i.e. floating) for the entire loan period. Here is a table showing the interest rates for SBI Student Loan schemes:
Schemes | Loan Amount | Interest Rates (p.a.) | Processing Fees |
---|---|---|---|
SBI Student Loan | Up to ₹7.5 Lakh & Above | 11.15%. | Loans up to ₹20 lacs: NIL Loans above ₹20 lakhs: ₹10,000 (plus taxes) |
SBI Scholar Loan | ₹7.5 to ₹50 Lakhs & Above | 8.05% to 9.65% | Nil |
SBI Skill Loan | ₹1.5 lakh | 10.65% | Nil |
Studies Abroad (SBI Global Ed-Vantage) | Above ₹7.5 Lakhs to ₹1.5 Crore | 11.15% | ₹10,000/- per application. |
SBI TakeOver Education Loan | Above ₹10 Lakhs to ₹1.5 Crore | 11.15% | Nil |
Are you looking for a personal loan to cover educational expenses?
To qualify for an SBI education Loan, applicants must meet specific criteria:
The SBI Education Loan EMI (Equated Monthly Installment) Calculator is a handy tool that helps applicants estimate the monthly repayment amount for their loan. Utilize the EMI calculator to calculate your EMI easily.
Monthly EMI | ₹86 |
Principal Amount | ₹1,000 |
Total Interest | ₹32 |
Total Amount | ₹1,032.00 |
Year | Month | Principal (A) | Interest (B) | EMI (A+B) | Balance | Loan Paid to Date (%) |
---|---|---|---|---|---|---|
2025 | 05 | 81 | 5 | 86 | 919 | 8.10% |
2025 | 06 | 81 | 5 | 86 | 838 | 16.20% |
2025 | 07 | 81 | 5 | 86 | 757 | 24.30% |
2025 | 08 | 82 | 4 | 86 | 675 | 32.50% |
2025 | 09 | 82 | 4 | 86 | 593 | 40.70% |
2025 | 10 | 83 | 3 | 86 | 510 | 49.00% |
2025 | 11 | 83 | 3 | 86 | 427 | 57.30% |
2025 | 12 | 84 | 2 | 86 | 343 | 65.70% |
2026 | 01 | 84 | 2 | 86 | 259 | 74.10% |
2026 | 02 | 85 | 1 | 86 | 174 | 82.60% |
2026 | 03 | 85 | 1 | 86 | 89 | 91.10% |
2026 | 04 | 86 | 0 | 86 | 0 | 100% |
Here's how it works:
Step 1: Enter the amount you plan to borrow.
Step 2: Input the applicable interest rate. SBI offers rates starting from 8.50% per annum.
Step 3: Specify the loan repayment period, typically ranging from 10 to 15 years.
Step 4: The calculator will instantly compute the EMI based on the provided inputs, giving you an idea of how much you'll need to repay monthly.
Don't know your credit score? You can find out for free!
When applying for an SBI Education Loan, the following documents are typically required:
Please note that the eligibility criteria and the required documents may vary depending on the specific SBI Education Loan scheme you choose. It's important to review the details of each loan type to ensure you meet all the requirements and have the appropriate documentation ready when applying.
Here's a comparative overview of the various SBI Education Loan schemes, highlighting their interest rates, processing fees, collateral requirements, eligibility criteria, and loan tenures to help you make an informed decision.
Indian Overseas Bank Gold Loans have simple eligibility criteria that are simple, making it easy for you to access funds by pledging their gold. These are:
The scheme provides loans to students for higher education in selected premier organizations of the country.
College Category | No Security, only Parent as co-borrower | tangible collateral of full value + Parent/ Guardian as co-borrower |
---|---|---|
List AA | ₹50 Lakhs | No upper limit |
List A | ₹40 Lakhs | No upper limit |
List B | ₹30 Lakhs | No upper limit |
List C | ₹7.5 Lakhs | No upper limit |
A skill loan is offered by SBI for Indian nationals to pursue skill development courses in India.
Up to ₹50,000 | Up to 3 years |
₹50,000 to 1 lakh | Up to 5 years |
Above 1 lakh | Up to 7 years |
This scheme provides loan to study abroad for Graduate Degree / Post-Graduate Degree / Diploma / Certificate / Doctorate courses.
SBI Education Loans come with a range of features and benefits that make them an attractive option for students and parents:
Get a quick loan starting at 11.99% p.a.
The SBI Global Ed-Vantage scheme is specifically for students aspiring to pursue higher education abroad. Here are the key highlights:
SBI offers two primary education loan schemes for students pursuing higher education in India: the SBI Student Loan Scheme and the SBI Scholar Loan Scheme. These schemes are tailored to meet the financial needs of students enrolling in a wide range of academic courses, from undergraduate to postgraduate and professional programs.
The SBI Student Loan Scheme is designed for students who wish to pursue higher education in recognized institutions across India. This scheme provides financial assistance to cover various educational expenses, ensuring that students can focus on their studies without financial stress.
Key Features:
The SBI Scholar Loan Scheme is specifically designed for students who have secured admission to premier institutions in India, such as IITs, IIMs, NITs, and other top-ranked universities. This scheme offers more favorable terms, including lower interest rates and higher loan amounts, reflecting the potential of these students to secure high-paying jobs post-graduation.
Key Features:
Avail an instant loan in a few simple steps!
Here’s a step-by-step guide on how to apply for an SBI Education Loan, whether you prefer the convenience of an online application or the personalized approach of an offline method.
If you intend to apply for the SBI Educational Loan online, follow these steps:
If you prefer to apply for the SBI Educational Loan offline, follow these steps:
SBI offers various education loans, each with specific repayment rules tailored to different loan types. Below is an overview of the repayment rules for the various SBI education loans.
Do you need an emergency loan?
Besides education loans, you can also check other loan schemes offered by SBI using the links provided below:
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The interest rates for SBI Education Loans generally range from 8.50% to 11.15% per annum, depending on the loan scheme and institution category.
Applicants must be Indian citizens, have secured admission to a recognized course in India or abroad, and have a parent or guardian as a co-borrower.
You can apply online through the SBI Education Loan platform on the official SBI website. Fill in the required details, select the loan type, and submit your application.
Required documents include identity proof, address proof, academic records, proof of admission, and income proof of the co-borrower, among others.
The repayment period can extend up to 15 years, with EMIs starting 12 months after course completion or 6 months after securing employment, whichever is earlier.
There is no processing fee for loans up to ₹20 lakhs. For loans above ₹20 lakhs, the processing fee is ₹10,000 plus applicable taxes.
Yes, SBI offers loans for studying abroad under schemes like the SBI Global Ed-Vantage, which caters to students pursuing education in foreign institutions.
Yes, the moratorium period typically includes the course duration plus an additional 6 to 12 months after course completion.
The maximum loan amount offered can go up to ₹1.5 crore, particularly for studying abroad under the SBI Global Ed-Vantage scheme.
Yes, for loan amounts up to ₹7.5 lakhs, no collateral is required, though a parent or guardian must be a co-borrower.
SBI does not specify a minimum salary requirement, but the co-borrower’s income should be sufficient to cover the EMIs.
Yes, a ₹3 lakh loan typically does not require a guarantor or collateral. However, a parent or guardian must be a co-borrower.
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