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26 Apr 2018

SBI Education Loan Eligibility Calculator May 2018 - Loan Process, Lowest EMI Online

SBI Education Loan EMI Calculator May 2018 - On the premise of ✓ Interest Rate ✓ Loan Amount ✓ Repayment ✓ Processing Charges calculate your Education Loan EMI with tool provided by www.sbimoney.in.




State Bank of India offers Education Loan for studies in India - maximum Rs. 10 lacs & Studies abroad - maximum Rs. 20 lacs at a very competitive interest rate @ 10.75% - 11.10%, NIL processing charges with 15 years loan repayment options.
 IMPORTANT INFORMATION Rates, Fees & Charges
Loan Amount Rs. 10 Lacs
Interest Rate 10.75% - 11.10%
Processing Fee
Number of Branches 15969
SBI Helpline Number 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990.
Official Website www.sbi.co.in
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

✓ Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*
✓ No processing / upfront charges will be levied on Education loans.

DOCUMENTS REQUIRED FOR SBI EDUCATION LOAN

✓ Letter of admission
✓ Completely filled in Loan Application Form
✓ AADHAR Card of the student and Parent/ Guardian
✓ Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
✓ 2 passport size photographs
✓ Statement of cost of study
✓ PAN Card of the student and Parent/ Guardian
✓ Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
✓ Student/Co-borrower/ guarantor's bank account statement for last 6 months
✓ IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
✓ Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
✓ Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

SBI STUDENT LOAN SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Upto Rs 7.5 Lacs
8.00%

2.00%

10.00%

1 year
Above Rs 7.5 Lacs
8.00%

2.75%

10.75%

1 year
Concession
0.50% concession in interest for girl students
Further Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI SCHOLAR LOAN SCHEME
Category Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
List AA
8.00%

1.35%

9.35%

1 year
List A All IIMs
8.00%

1.35%

9.35%

1 year
Other institutes
8.00%

1.55%

9.55%

1 year
List B ROI
8.00%

1.85%

9.85%

1 year
Concession
0.25% – if collateral security >= the loan amount

0.25% – work experience of more than 2 years
Further Concession
(Effective rate of interest with both concessions not to be lower than 1.30% above 1 year MCLR presently, 9.30% p.a.)
List C Upto Rs 7.5 lacs
8.00%

2.00%

10.00%

1 year
Above Rs 7.5 lacs
8.00%

2.60%

10.60%

1 year
Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI SKILL LOAN SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Upto Rs 1.5 Lacs
8.00%

1.50%

9.50%

1 year
Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Above Rs. 20 lacs & Upto Rs 1.5 Cr
8.00%

2.50%

10.50%

1 year
Concession
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
Further Concession
0.50% concession for girl students
SBI EL TIE-UP WITH JAIN SANGH SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Upto Rs. 4 Lacs
8.00%

2.00%

10.00%

1 year
Concession
0.50% concession in interest for girl students
Further Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI BIHAR STUDENT CREDIT CARD SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Upto Rs. 4 Lacs
8.00%

2.00%

10.00%

1 year
Concession
0.50% concession in interest for girl students
Further Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI TAKEOVER OF EDUCATION LOANS SCHEME
Loan Limit Revised Floating Interest Rate linked to 1 year MCLR wef 01.01.2017
1 year MCLR Spread Effective Interest Rate Reset Period
Above Rs 10 lacs & Upto Rs 1.5 Cr
8.00%

2.50%

10.50%

1 year
Concession
0.50% concession for girl students

SBI EDUCATION LOAN EMI CALCULATOR MAY 2018


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