Purpose : Loan is offered for pursuing studies in recognized schools/colleges/ institutions to meet:

• Tuition and other fees
• Maintenance costs, books, and equipment
• Cost of passage (for studies abroad)
• Caution fund/building fund/refundable deposit

Eligibility :

* Should be an India National
* Secured admission to professional/ technical courses through Entrance Test/ Selection process
* Secured admission to foreign university/ Institution.


Loan Amount

Need based finance subject to the repaying capacity of the parents/ students with margin and the following ceilings.

* Studies in India - Maximum Rs.7.50 lacs
* studies Abroad - Maximum Rs.15 lacs

Margin :

• Upto Rs.4 lakh : No margin
• Above Rs.4 lakh
• Studies in India : 5%
• Studies Abroad : 15%

Interest :

Lowest interest rates

Loan Amount	Interest Rate
Loans upto Rs.4 lacs	SBMTLR presently 12.00 %p.a.
Loans over Rs.4 lacs	1% above SBMTLR presently 13.00 % p.a

* While interest is not required to be paid during moratorium period, payment of the same before start of repayment would enable you to dispensation in interest rate applied in the repayment holiday.

Repayment of loan

Repayment Holiday - Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan to be repaid in 5-7 years after commencement of repayment

Prepayments permitted without any penalty.

For updated information please visit State Bank of India