State Bank of India, for many years, has been offering a wide range of SBI education loans with interest rates as low as 10.05 percent per annum. The SBI loan for abroad has flexible repayment tenures that include a moratorium period after the completion of the course. Also, the bank does not charge any penalty for the prepayment of SBI education loans which can be done at any time during the loan tenure.

There are many SBI education loans that also offer interest concessions for girl students. The bank provides SBI loan for abroad as well as for colleges in India. Students can also avail loans for vocational as well as professional ones. The bank also provides an option for takeover loans to help you close existing high-interest loans with a lower-interest SBI loan.

SBI Education Loan Interest Rates

Schemes Maximum Loan Amount Interest Rates
SBI Student Loan Rs.20 lakh 10.05%
SBI Scholar Loan Rs.40 lakh 7.95% to 9.25%
SBI Global ED-Vantage Rs.1.5 crore 10.05%
SBI Skill Loan Rs.1.5 lakh 9.55%
SBI Take Over of Education Loan Rs.1.5 crore 10.05%

There is a concession of 0.50% if an SBI life insurance policy for SBI Student and Global Ed-Vantage Schemes and .50% interest concession for girl students.

Compare SBI Education Loan Schemes for Students

1. SBI Student Loan Scheme

  • Interest rate: 10.05%
  • Processing fee is NIL for loans up to Rs.20 lakh and Rs 10,000 + taxes for loans above 20,00,000
  • Collateral is NIL for loans up to Rs.7.5 lakh and tangible collateral required for loans above Rs.7.5 lakh
  • Only Indian nationals are eligible for the loan.
  • Loan Tenure is 15 years after the course ends plus a repayment holiday of 12 months

2. SBI Scholar Loan Scheme

  • Interest rate: 7.95% to 9.25%
  • Processing Fees: Nil
  • Collateral is required only for List A and List C colleges
  • Loan Tenure is 15 years after the course ends plus a repayment holiday of 12 months
  • Only Indian national who is selected through entrance tests/selection processes are eligible for the loan

3. SBI Global Ed-Vantage Scheme

  • Interest Rate: 10.05%
  • Processing Fees is Rs.10,000 per application
  • Tangible collateral as security
  • Loan Tenure is 15 years
  • Only Indian nationals

4. SBI Skill Loan Scheme

  • Interest Rate: 9.55%
  • No Collateral
  • Loan Tenure is up to 7 years
  • Only Indian nationals

5. SBI Takeover of Education Loan Scheme

  • Interest Rate: 10.05%
  • No Processing Fees:
  • Collateral should be minimum 100% of the proposed loan’s value
  • Loan Tenure is 15 years
  • Only Indian Citizens who are majors at the loan switchover time with regular EMIs being paid

SBI Education Loan EMI Calculator

Before applying for SBI Loan for abroad, it is important to know your Equated Monthly Installment (EMI) based on your SBI education loan so that you can plan your expenses and manage your student finances better. You can get a detailed amortization table with the breakdown of your EMIs by using the Education Loan EMI Calculator.  All you have to do is enter the sanctioned loan amount, interest rate, and tenure given by SBI in the relevant fields. Also, choose If you plan to make any pre-payments and click on ‘Calculate’ and see your EMI detail.

Apply For SBI Education Loan

if you believe in a hassle-free process, connect with Eduloans and we will take care of everything starting from submitting your application form with all the necessary documents to getting the loan sanctioned with best interest rates.  We are directly linked with the OCAS system which is the central lead monitoring system for SBI. We would provide you with the necessary application form and list of documents.  Please log into and register and you would receive a call from our dedicated loan officer.

Leave a Reply

Your email address will not be published. Required fields are marked *