SBI Student Loan: What documents are needed for taking student loans, and how much amount is available? Read everything including features
Welcome to CDS. This SBI Education loan is available at a low interest rate. There is also a cut in the interest rate for girls. Apart from this, no other security is required for Rs 7.5 lakh.
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SBI Education Loan: Know all the scheme details
SBI student loan scheme details: Various types of loans are given by Indian banks, ranging from personal loans to car loans and student loans. Student loans are given by Indian banks in the form of a term, which is given to Indian students to pursue education in the country or abroad. This loan gives customized financial facilities to the students, which do not have to face much trouble filling up. Here is the State Bank of India student loan amount, interest rate, processing fee, features, benefits, and other information.
SBI Student Education Loan: On which courses student loan is available, loan for study in India
SBI Student Loan is given for technical and professional degree and diploma courses including graduation, post graduation, which are certified by universities, colleges, and places like UGC, AICTE, IMC, Govt, etc. At the same time, loans are also given on regular degree and diploma courses done from IITs, and IIMs.
- SBI Loan from Central Government and State Government for technical training and nursing courses.
- SBI Loan is given for courses like regular degrees and diploma courses like aeronautics, pilot training, shipping, etc.
SBI Student Loan for Study Abroad | SBI Education Loan Abroad Study
- SBI Student loan for abroad studies: SBI Student Loan On job based, technical undergraduate degree courses, post graduate degrees and diploma courses like MCA, MBA, MS, etc. from reputed universities.
- SBI Loan against course conducted by CPA (Certificate Public Accountant) in CIMA like- London, USA.
Features and Benefits of SBI Student Loan | SBI Education Loan
Talking about the specialty of this SBI Student Loan, it comes with a low interest rate. Along with this, there is also a cut in the interest rate for girls. Apart from this, no other security is required for Rs 7.5 lakh. There is no processing charge for loans up to Rs 20 lakh. Interest will be applicable one year after the completion of the course. The SBI loan has to be repaid for 15 years after the completion of the course and for an additional 1 year. On the other hand, if another loan is taken, the student can repay it in 15 years. There is no margin for loans up to Rs 4 lakh.
Loan amount Under this, students can take a loan of up to Rs 50 lakh for study in India and up to Rs 1.50 crore for study abroad.
SBI Student Loan Interest Rate
Interest Rate Under this, students have to pay interest up to 8.65%. Whereas for girls an interest less of 0.50% is also given.
SBI Education Loan Processing Fee:
No processing fee is charged for an amount up to Rs.20 lakh. But if more than Rs 20 lakh is charged plus tax of Rs 10,000.
Security for SBI Bank Student Loan
No additional security is required for a loan of Rs 7.5 lakh, but tangible collateral security is required for the amount above this.
Where can SBI Student Loan be spent?
This loan can be spent on your college, school, or hostel. In addition, examination, library, and laboratory fees may be paid. Apart from this, expenditure can be made for the purchase of books, products, dress, computer, besides other things necessary for education. In this, Rs 50,000 is also given for a two-wheeler. Along with this, travel expenses for studies abroad are also included.
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