To extend financial assistance to all eligible / deserving / meritorious students for pursuing higher education in India & Abroad.
Need based finance subject to repaying capacity of the parents / students.-
Period | Slab | Interest Rate | Remarks |
Upto 4 Lacs | Â | 12.00 | PA |
Above 4 Lacs & up to 7.5 Lacs | Â | 12.25 | PA |
Above 7.5 Lacs | Â | 12.75 | PA |
Gyan Shakti | Â | 10.75 | PA |
Upto Rs. 4.00 Lacs – No Security (Co-obligation of parent / guardian is compulsory).
Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.
Above Rs.7.50 Lacs: – Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments.
Penal rate of Interest
@2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period.
Course period + one year or six months after getting job, whichever is earlier.
5 to 7 years after commencement of repayment.
Read:Â Education loan in India
No processing charges for studies abroad upto Rs.4.00 Lacs and in case of studies in India irrespective of loan amount.
In case of loans above Rs.4.00 Lacs for studies abroad.
           1. Rs. 5000/- to be collected at the time of delivering sanction letter to the student / guardian.
           2. Rs.1000/- to be appropriated towards processing fees.
           3. Rs.4000/- to be adjusted towards student’s margin at the time of release of the loan.
           4. In case the loan is not availed for any reason by the student, the amount of Rs.4000/-
               to be refunded to the student without interest.
No processing charges to be levied on the loans to the wards of Bank’s staff members including Retired Staff.
For details on State Bank of Hyderabad, click here.