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SBI Education Loan

Last Modified : January 19, 2019

With offering around four variants of education loans, State Bank of India is one of the most sought-after banks to offer education loans for studies in India and abroad.

SBI Education Loan Variants

Due to custom-made Education Loans for India and Abroad, students get a variety of options to choose from. Rate of interest acts as a key factor for attracting borrowers. The mean rate of interest for the loan amount less than INR 4 Lacs is 11.74%, for loan amount between INR 4 to 7.5 Lacs is 12.29% and for loan amount exceeding INR 7.50 Lacs is 11.7% (This data is curated from research work by Geetha Rani).


Due to its user-friendly loan schemes for various courses running in India as well as overseas. Under schemes, it can lend an amount up to INR 35 Lacs for studying in India and Rs.1.5 Crores for SBI Education Loan for Abroad.

What makes you eligible for SBI Education Loan?

  • Indian National. Student must be a citizen of India or a holder of Indian passport
  • 10+2 qualified. One must have cleared 10+2 from a recognized board of institutions.

The general eligibility criteria is mentioned above. There are some more requirements depending upon the type of loan offered.

Eligibility for SBI Education Loan

SBI Education Loan Concessions

There are variety of concessions offered by State Bank of India to lure borrowers for education loan schemes. Some of these concessions are mentioned below:

SBI Education Loan concessions

How can you apply for SBI Education Loan?

SBI Education loan application form can be available online or offline at Bank branches.

For Online:

If a person is applying for the loan through official website then he can follow the below given procedure:

  • Visit the official website
  • Click on SBI Education Loan
  • Now select the particular loan scheme you want to apply for
  • Click on Apply Online
  • Fill up the form with all the necessary details
  • Upload the signature, photograph other documents required
  • Submit the Form
  • Take the print out of application form
  • After that visit the nearby SBI Bank for the further proceedings

For Offline:

For offline procedure, student can visit the bank and ask for application form for education loan. The bank representative will then be able to guide you with all necessary details and information about margin money, interest rates, and eligibility criteria about the suitable loan for you.

We have curated some important aspects of variety of SBI Education Loan for India and Abroad along with the government scheme offered by the bank.

1. SBI Student Loan Scheme

The loan is offered for studies in both India and abroad. Maximum amount of loan offered in India is Rs. 10 Lacs and for abroad is Rs. 30 Lacs.

SBI Student Loan Scheme Rate of interest:

Listed below is the interest on educational loans offered on SBI education loan.

Loan amountInterest Rate
Up to INR 4 lakh3.65% above the Base Rate - 13.35%
Above INR 4 lakh and up to INR 7.5 lakh3.90% above the Base Rate - 13.60%
Above INR 7.5 lakh1.90% above the Base Rate - 11.60%

Quick Facts about SBI Student Loan Scheme

MarginFor loan above INR 4 Lacs
In India: 5%
In abroad: 15%
Processing fee for below Rs. 4 LakhsNo
Processing fee for Above Rs. 4 LakhsRs. 5000
Loan SecurityUpto INR 4 Lacs: Parents considered as co-borrower
Between INR 4 to 7.50 Lacs: Parent as well as third party guarantee is required
Above INR 7.50 Lacs: Tangible security along with parents as co borrower
Loan RepaymentStarts After 1 year of course completion or 6 months after getting job.

Additional Facts to Know

  • The amount deposited by the applicant will be appropriated by the bank if the loan is not availed within 4 months of the loan sanction.
  • In case a candidate is married then spouse/parents/Parent-in-laws can be considered as co borrower.
  • There will be no margin money for loan amount less than Rs.4 Lakhs
  • The repayment period for SBI Student Loan scheme is up to INR 7.5 lakh is 10 years and for a higher amount is 12 years.

Expenses covered under SBI Student Loan Scheme

  • College Fee
  • Hostel Fee
  • Examination Fee
  • Purchase of Books, Equipment, Uniform or Computer
  • Travel Expenses for abroad studies
  • Cost of Two wheeler (Maximum of Rs.50000).
  • Cost of other activities like study tours, project work, etc.

Courses Covered Under SBI Student Loan Scheme

In India

Almost every undergraduate and post graduate course has been included in this scheme. Technical or Professional Courses approved by AICTE/UGC. Degree and diploma courses approved by the Govt. Teacher Training, Nursery courses, pilot training, aeronautical, shipping courses which are approved by respective authorized departments.

In Abroad

  • Job Oriented, Technical/Professional, and UG/PG/Diploma courses.
  • Courses approved by CIMA in London and CPA in USA.

2. Scholar Loan Scheme

The loan is offered for students aspiring for higher studies from a selected list of 105 premier Indian institutes. SBI offers 100% finance facility under this loan.

Rate of interest for SBI Student Scholar Loan

Category of InstitutesInterest Rate
List AA25 bps above the Base Rate i.e. 9.95% p.a. for loans up to INR 30 lakhs without collateral
List A25 bps above the Base Rate i.e. 9.95% p.a. for loans up to INR 20 lakh and INR 30 lakhs without collateral
List B50 bps above the Base Rate i.e. 10.20% p.a. for loans up to INR 20 lakhs without collateral 25 bps above Base Rate i.e. 9.95% if collateral security’s value is greater than loan amount and/or work experience of the applicant is more than 2 years
List C175 bps above the Base Rate i.e. 11.45% p.a. for loans up to INR 30 lakhs with collateral and 7.5 lakh without collateral

Quick Facts about SBI Scholar Loan Scheme

Processing feeNo
Margin MoneyNo
Maximum Loan for AA CategoryRs. 35 Lakhs
Maximum Loan for A CategoryRs. 20 Lakhs and can be extended to Rs.30 Lakhs under conditions
Maximum Loan For B CategoryRs. 20 Lakhs
Maximum Loan For C CategoryRs. 7.5 Lakhs
Repayment StartsAfter the completion of Course
Repayment PeriodUpto 12 Years + 6 months Repayment Holidays

Additional Facts to remember

  • No Margin required; 100% finance available
  • This loan can be easily sanctioned in various 5000 branches across designated campuses.
  • Repayment of loan is upto 12 years and plus 6 months repayment holidays.
  • Repayment will be started after completion of course.

Expenses covered under SBI Student Scholar Loan Scheme

  • College Fee
  • Hostel Fee
  • Library + Laboratory Fee
  • Books and Equipment
  • Caution Deposit/Building Funds/Refundable Deposits – Doesn’t exceed 10% of entire tuition fee
  • Travel expenses
  • Laptop Purchase
  • Other expenditure related to course – Up to Rs.1 Lakh

Courses Covered in SBI Student Scholar Loan

  • Regular Full Time Degree and Diploma Courses under which admissions are given through admission test or selection process.
  • Full Time Executive management courses like PGPX are also covered
  • It doesn’t cover certificate and part time courses.

Note: List of colleges that fall under List AA, List A, List B and List C are mentioned towards the end of the article

3. SBI Loan for Vocational Education and Training

This is a term loan provided for securing vocational education or training in India where admission is already secured.

Rate of interest

The interest rate is 3.65% above the Base rate of 9.70% which makes the interest rate 13.35% p.a.

Maximum Amount for 6 Months CourseRs. 50000
Maximum Amount for 6 + Months CourseRs. 1 Lakh
Processing FeeNo
Margin MoneyNo
Repayment StartsAfter the 6 months of Completion of Course/Getting Job
Repayment PeriodFor 12 Month course – 3 years For Above 12 Months Course – 5 years
EligibilityIndian National, Have an life insurance from SBI

Additional Facts about SBI for Vocational Education and Training

  • No Margin money required
  • 100% Financing
  • No Processing fee will be charged
  • No third party guarantee required
  • Repayment will be started after 6 months of completion of course
  • Repayment period for 1 year course is 3 years and above 1 year is 5 years

Expenses covered under SBI for Vocational Education and Training

  • Tuition Fee/Course Fee
  • Examination Fee
  • Library/Lab Fee
  • Caution Deposit
  • Books/Equipment/Instrument
  • Other Expenses related to courses

4. SBI Global Ed-Vantage Scheme

The recently launched student loan scheme, Global Ed-Vantage is to offer student loan for overseas education. This scheme provides financial assistance to students who are planning to complete their studies from top global institutions like Harvard, Stanford, and MIT.

Quick facts about SBI Global Ed-Vantage Scheme

Available forAbroad Studies
Courses LevelBoth Undergraduate and Post Graduate Courses
Courses FieldMathematics, Science, Engineering, Medicine and Management
CountriesUSA, UK, Australia, Canada, Japan, Europe Hong Kong, New Zealand and Singapore
Loan AmountFrom Rs. 20 Lakhs to Rs. 1.5 Crores
Concession0.5% for Girls
Repayment Period15 Years
Repayment Starts6 Months after completion of course
Rate of Interest1.7% above MCLR and currently is 10.85%

Additional Facts about SBI Global Ed-Vantage Scheme

  • Loan amount available is from Rs. 20 lakhs to 1.5 crores.
  • Processing fee is 10,000 per application.
  • Scholarship and assistantship are included in margin
  • Margin to be brought in on year-on-year basis as and when disbursements are made on a pro-rata basis.
  • Tangible collateral security is required.
  • Collateral security by third party are also accepted.
  • Repayment starts 6 months after the completion of course
  • Repayment period is of 15 years.
  • There will be concession of .5% in interest for girls

Countries covered in this Loan scheme

USA, UK, Australia, Canada, Japan, Europe Hong Kong, New Zealand and Singapore

5. SBI Skill Loan Scheme

The bank offers Skill Loan Scheme for students who aspire to gain knowledge and specialized training in one specific field.

Rate of Interest

Rate of interest is 3.90% above MCLR and presently it is 13.05%.

Additional Benefits of SBI Skill Loan Scheme

Concession of 1% is provided for full tenure of the loan, if the interest charged is serviced promptly as and when applied during the period of moratorium and including during the period of the course.

What is SBI Education Loan Subsidy?

Central Government of India offered the scheme for economically weaker section for subsidy on education loan interest.

The scheme is formulated by Ministry of Human Resource Department, this interest subsidy provides a lower interest on education loan during suspension period for professional courses in India. 

Additional Facts about CSIS

  • Available for economically weaker sections of the society
  • Gross annual parents’ income is less than INR 4.50 Lacs
  • Repayment of the loan has to be done after 12 months of course completion or 6 months after getting job, whichever is earlier

Applicability of Scheme

  • This scheme is applicable for technical and professional courses
  • This scheme is applicable for the govt. recognized institutes for courses after class 12th
  • Under IBA education loan scheme the maximum loan limit is Rs. 10 Lakhs

Eligibility for Subsidy

  • The subsidy is provided for the course of study and moratorium period which is 1 year after course completion or 6 months after getting job (whichever is earlier).
  • After both period the loan amount will be paid in accordance to education loan scheme.

Nodal Bank

This will be implemented through Canara Bank.

Scheme Applicable Year

  • This scheme is implement 2009 – 2010 in academic year from April 1, 2009
  • Loan disbursed after April 1, 2009 irrespective of date of sanction shall only be covered under the scheme
  • In case of loans sanctioned prior to April 1, 2009, for the courses beginning prior to academic year 2009-10, the interest subsidy is available to the extent of disbursements made after April 1, 2009

SBI Education Loan Concession

SBI provides concession on interest rate in various schemes under certain conditions. We have listed out all the scheme with the concession and its eligibility below:

SBI Student Loan Scheme

  • 0.50% for girl students
  • 1% for full tenure if interest is serviced promptly and when applied during Moratorium period which includes course duration

SBI Scholar Scheme

For List B – Institutes other than NITs

  • 0.25%, If the collateral security is greater than or equal to the loan amount.
  • 0.25%, if student has work experience of more than 2 years.

For List C – Institutes other than NITs

  • 1% for full tenure if interest is serviced promptly and when applied during Moratorium period which includes course duration.

SBI Skill Loan Scheme

  • 1% for full tenure if interest is serviced promptly and when applied during Moratorium period which includes course duration.

SBI Global Ed-Vantage Scheme

  • 0.50% for the students availing SBI Rinn Shiksha or any other life insurance policy from SBI
  • 0.50% for girl students

What Factors makes it easy to avail SBI Education Loan?

There are various factors that come into consideration when a bank scrutinizes your application for an Education Loan. Some of these factors are:

  • Borrower and Co-Borrower must be Indian National
  • NRIs are only eligible if they have Indian citizenship and are in possession of Indian Passport
  • Borrowers must have a strong academic background
  • Having a good credit score gives an undue advantage. (It is obvious that the borrower might not have a credit score, hence credit score of co applicant will be considered)
  • Co Borrower must be a member from immediate family
  • Academic and financial background of the co- applicant
  • SBI must be able to find a good chance of placement and job prospect in an applicant so that he/ she can repay the Loan
  • The institute and course are also considered equally important

What Factors makes it difficult to avail SBI Education Loan?

If there are factors that can make availing SBI Education Loan a cake walk, there are some factors that might not work in your favour. Some of them are mentioned below:

  • If borrower fails to prove their or the co-borrower’s nationality to be Indian
  • The Bank favors when the co-borrower is an immediate family member with a good economic background.
  • If your parents belong to the medium income group, you might call for third party guarantor approved by bank (with a good credit score)
  • The institution and course earns an advantage, hence, you must be wise while choosing your course and institution as it may work in your favour or against
  • Lack of any document or false claim may lead to disqualification for the SBI Education Loan
  • The background check on the borrower and co-borrower must go as per the applicants claim to avoid any difficulties in availing SBI Education Loan

Confused about calculating EMI? Have a look

Worried about how EMI is generated? The accured interest during moratorium period along with course period is fixed in equated monthly instalments (EMIs)

In case, the full interest is serviced before the commencement of repayment term, the EMI is fixed based on principle amount only.

EMI (Equated Monthly Installments) can be calculated by using the formula given below

  • EMI = [P x R x (1+R) ^n] / [(1+R)^ n-1]
  • Here, P is Amount of Education Loan, R is Rate of Interest, n is Tenure of the Loan

Why SBI? How is it Beneficial?

State Bank of India have acclaimed to be the largest lender in Education Loan. The loan it offers might not be very distinctive in nature but there are some key benefits that compliment the SBI Education Loan.

  • No Margin upto loan amount of INR 4 Lacs
  • 0.50% concession in interest for girl students under SBI Education Loan Scheme and SBI Global Ed-Vantage Scheme
  • 1% concession if the interest is serviced promptly by the borrower as and when applied during moratorium period (including course duration)
  • 0.25% concession for work experience under SBI Scholar Loan Scheme
  • Top Up loan facility available for students who wish to study further and needs financial aid. 

SBI Top-up Loan 

Top Up Loan or Second Loan is permitted within the overall limit to pursue a professional/ technical course in India or abroad. This facility is available on the clause that further studies are commenced during the moratorium period of the first loan and subject to the second loan being allowed with the security requirements as applicable to the aggregate loan limit. Post the second loan, the moratorium period will be extended for the duration of the second course and repayment will commence one year after the completion of the second course, or 6 months after taking up the job (whichever is earlier).

SBI Takeover Loan

Takeover Loans are those where you switch a bank for takeover loan.


  • Quantum of Loan upto INR 1.5 crores can be considered
  • Repayment term upto 15 years
  • Zero Processing Fee
  • Facility to avail top-up loan for further studies
  • EMIs can be paid through Net Banking/ Cheques/ Mobile Banking

Rate of Interest

Loan Limit1-year MCLRSpreadEffective ROI

From INR 10 Lacs to 1.5 Crore





0.50% concession for girl students

Quantum of Finance

  • Minimum loan amount: INR 10 Lacs
  • Maximum loan amount: INR 1.5 Crore


  • It should be a first-time takeover
  • The student should be a major while applying for takeover
  • Loan amount should have been fully disbursed at the time of takeover
  • Repayments should have been commenced


Collateral security should be 100% equivalent to the value of loan amount proposed

SBI v/s Axis Bank: Key differences

SBI and Axis bank, two of the most preferred banks running in the race of providing education loan with best features possible. SBI is government-owned bank whereas Axis Bank falls under private sector.  Here under, we have discussed the differences these banks have on a single parameter.


Axis Bank


Quantum of Loan

INR 10 Lacs for India and INR 20 Lacs for abroad

INR 10 Lacs for India and INR 30 Lacs for abroad

Rate of Interest

Upto 4 Lacs- 16.50%
Upto 7.5 Lacs- 17.50%
Above 7.5 Lacs- 15.50%

Upto 7.5 Lacs- 11.01%
Above 7.5 Lacs- 10.75%

Repayment Period

7 years

5-7 years

Processing Time

14 Days

20 Days

Interest Subsidy Schemes

Central Scheme of Interest Subsidy (CSIS)

SBI Skill Loan Scheme

Central Scheme of Interest Subsidy (CSIS)

Processing Fee


Upto INR 4 Lacs: No

Above INR 4 Lacs: INR 5,000

Pre-payment charges



Penal Charges

@2% per month on the overdue installment/s

Penal interest @ 2% to be charged for loans above INR 4 lacs for the overdue amount and overdue period.

Top Up Loan facility



List of Institutes that fall under List AA, List A, List B, and List C of SBI Student Scholar Loan Scheme

Colleges in List AA Category

Name of InstitutionBranch Code
Indian Institute of Management (IIM), Ahmedabad2653
Indian Institute of Management (IIM), Bangalore4407
Indian Institute of Management (IIM), Calcutta6210
Indian Institute of Management (IIM), Indore30525
Indian Institute of Management (IIM), Indore- Mumbai Campus13551
Indian Institute of Management (IIM), Kozhikode10565
Indian Institute of Management (IIM), Lucknow10175
Indian Institute of Management (IIM), Lucknow- Noida Campus5222
Indian School of Business (ISB), Hyderabad5916
Indian School of Business (ISB), Mohali1828
Xavier Labour Relations Institute (XLRI), Jamshedpur4660

Colleges in List A Category

Name of InstitutionBranch Code
Birla Institute of Technology & Sciences (BITS), Pilani11309
BITS (Pilani) - Goa Campus10720
BITS (Pilani) - Hyderabad Campus4274
Indian Institute of Foreign Trade (IIFT), Delhi1690
Indian Institute of Foreign Trade (IIFT), Kolkata9985
Indian Institute of Management (IIM), Amritsar732
Indian Institute of Management (IIM), Bodhgaya2739
Indian Institute of Management (IIM), Jammu2367
Indian Institute of Management (IIM), Kashipur17263
Indian Institute of Management (IIM), Nagpur6702
Indian Institute of Management (IIM), Raipur4440
Indian Institute of Management (IIM), Ranchi5598
Indian Institute of Management (IIM), Rohtak4734
Indian Institute of Management (IIM), Sambalpur2110
Indian Institute of Management (IIM), Shillong2081
Indian Institute of Management (IIM), Sirmaur1755
Indian Institute of Management (IIM), Trichy1617
Indian Institute of Management (IIM), Udaipur1533
Indian Institute of Management (IIM), Visakhapatnam4202
Indian Institute of Technology (IIT), Bhilai6995
Indian Institute of Technology (IIT), Bhubaneshwar4414
Indian Institute of Technology (IIT), Chennai1055
Indian Institute of Technology (IIT), Delhi1077
Dept of Management Studies, IIT Delhi1077
Indian Institute of Technology (IIT), Dharwad833
Indian Institute of Technology (IIT), Gandhinagar60363
Indian Institute of Technology (IIT), Goa557
Indian Institute of Technology (IIT), Guwahati14262
Indian Institute of Technology (IIT), Hyderabad14182
Indian Institute of Technology (IIT), Indore11779
Indian Institute of Technology (IIT), Jammu7974
Indian Institute of Technology (IIT), Jodhpur14892
Indian Institute of Technology (IIT), Kanpur1161
Department of Industrial & Management Engineering, IIT Kanpur1161
Indian Institute of Technology (IIT), Kharagpur202
Indian Institute of Technology (IIT), Mandi13711
Indian Institute of Technology (IIT), Mumbai1109
Indian Institute of Technology (IIT), Palakkad6640
Indian Institute of Technology (IIT), Patna17164
Indian Institute of Technology (IIT), Roorkee1069
Indian Institute of Technology (IIT), Rupnagar (Ropar)13181
Indian Institute of Technology (IIT), Tirupati6677
Indian Institute of Technology (IIT), Varanasi211
Indian School Of Mining (ISM), Dhanbad1641
Institute of Management Technology (IMT), Ghaziabad642
Kasturba Medical College (KMC), Mangalore3823
Management Development Institute (MDI), Gurgaon1565
Management Development Institute (MDI), Murshidabad12355
National Institute of Industrial Engineering (NITIE), Mumbai9055
Nirma Institute of Management, Ahmedabad4130
S P Jain Institute of Management and Research (SPJIMR), Mumbai4650
Shailesh J. Mehta School of Management (SJSOM), IIT Mumbai1109
Symbiosis Centre For Management & HRD (SCMHRD), Pune10203
Symbiosis Institute of Business Management (SIBM), Pune10203
T. A. Pai Management Institute (TAPMI), Manipal [Post Graduate Diploma in Management (PGDM)]4426
Xavier Institute of Management (XIM), XUB-Bhubaneswar4414
Xavier School of Human Resource Management (XSHRM), XUB- Bhubaneswar4414
Xavier School of Rural Management (XSRM), XUB-Bhubaneswar4414

Colleges under List B Category

Name of InstitutionBranch Code
Army College of Dental Sciences (ACDS), Secunderabad4274
Army College of Medical Sciences (ACMS), Delhi Cantt733
Army Institute of Law (AIL), Mohali1828
Army Institute of Management (AIM), Kolkata4
Army Institute of Technology (AIT), Pune10473
Bharathidasan Institute of Management (BIM), Tiruchirapalli1363
Birla Institute of Technology (BIT), Mesra, Ranchi18056
College of Engineering, Pune10431
Delhi College of Engineering (DCE), Delhi10446
Dhirubhai Ambani Institute of Information & Communication Technology (DAIICT), Gandhinagar12700
Faculty of Engineering & Technology, Jadavpur University, Kolkata93
Faculty of Management Studies (FMS), Delhi1067
Goa Institute of Management (GIM), Goa11156
Indian Institute of Science (IISc), Bangalore2215
Indraprastha Institute of Information Technology (IIIT), Delhi727
International Management Institute (IMI), Kolkata4
International Management Institute (IMI), New Delhi1690
Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai4283
Kasturba Medical College (KMC), Manipal4426
Kirloskar Institute of Advanced Management Studies (KIAMS), Bangalore7914
Manipal Institute of Technology (MIT), Manipal4426
Marine Engineering & Research Institute, Kolkata18118
Mudra Institute of Communication (MICA), Ahmedabad5084
Narsee Monjee Institute of Management Studies (NMIMS), Mumbai4242
National Institute of Technology (NIT), Surathkal2273
National Institute of Technology (NIT), Tiruchirapalli1617
National Law School of India University (NLSIU), Bangalore9050
National Law University (NLU), Jodhpur13525
Prin. L. N. Welingkar Institute of Management, Development & Research (WeSchool), Mumbai353
Visvesvaraya National Institute of Technology (VNIT), Nagpur6702

Colleges under list C Category:

Name of InstitutionBranch Code
Centre for Environmental Planning & Technology (CEPT), Ahmedabad2651
Chandragupt Institute of Management, Patna15996
Dr. B R Ambedkar National Institute of Technology (NIT), Jalandhar4121
Indian Institute of Forest Management (IIFM), Bhopal12194
Indian Institute of Petroleum and Energy (IIPE), Vishakhapatnam3170
International Institute of Information Technology (IIIT), Hyderabad21161

Kalinga Institute of Industrial Technology (KIIT) University School of Management (SOM)


Kalinga Institute of Industrial Technology (KIIT) University School of Technology (SOT)

L N Mittal Institute of Information & Technology (LNMIIT), Jaipur656
Loyola Institute of Business Administration (LIBA), Chennai1176

Maharishi Markandeshwar University (MMU) Medical College, Haryana

Malaviya National Institute of Technology (NIT), Jaipur6912
Maulana Azad National Institute of Technology (NIT), Bhopal1608
Motilal Nehru National Institute of Technology (NIT), Allahabad2580
National Institute of Construction Management & Research (NICMAR), Pune13295
National Institute of Food Technology Entrepreneurship and Management (NIFTEM), Sonepat15479
National Institute of Technology (NIT), Agartala11491
National Institute of Technology (NIT), Arunachal Pradesh15550
National Institute of Technology (NIT), Calicut2207
National Institute of Technology (NIT), Delhi50809
National Institute of Technology (NIT), Durgapur2108
National Institute of Technology (NIT), Goa557
National Institute of Technology (NIT), Hamirpur, Himachal Pradesh10367
National Institute of Technology (NIT), Jamshedpur1882
National Institute of Technology (NIT), Kurukshetra6260
National Institute of Technology (NIT), Manipur18546
National Institute of Technology (NIT), Meghalaya9105
National Institute of Technology (NIT), Mizoram7059
National Institute of Technology (NIT), Nagaland7543
National Institute of Technology (NIT), Patna3129
National Institute of Technology (NIT), Puducherry1418
National Institute of Technology (NIT), Raipur2852
National Institute of Technology (NIT), Rourkela2109
National Institute of Technology (NIT), Sikkim7218
National Institute of Technology (NIT), Silchar7061
National Institute of Technology (NIT), Srinagar2460
National Institute of Technology (NIT), Tadepalligudem16305
National Institute of Technology (NIT), Uttarakhand3181
National Institute of Technology (NIT), Warangal7167
National University of Juridical Sciences (NUJS), Kolkata4204
Netaji Subash Institute Of Technology (NSIT), Delhi10650
Sardar Vallabh Bhai National Institute of Technology (NIT), Surat3320
School of Planning & Architecture, New Delhi1187
Thapar University, Patiala50244
University College of Engineering (UCE), Odisha2034
Xavier Center For Urban Management and Governance (XUMG) [Post Graduate Programme in Urban Management and Governance (MBA- UMG)]4414
Xavier School of Commerce (XSC) [Master of Business Finance (MBF)]4414
Xavier School of Sustainability (XSOS) [Post Graduate Programme in Sustainability Management (MBA-SM)]4414


Q. What is Margin Money?

Answer: Margin money is the amount which you have to pay from your own and the rest amount is paid by the bank.

In case of Student loan scheme the margin money will be considered when you loan amount is above Rs.4 lakhs. Below table shows the details:

Margin for Above 4 Lakhs Loan in India5%
Margin For Above 4 Lakhs Loan in Overseas15%

Q. What are the documents Required while applying for the loan?

Answer: Hi, below are the listed documents which you have to produce while applying for the Eduction loans at SBI

  • Letter of Admission
  • Completely filled Loan Application Form
  • 2 passport size photographs
  • Statement of cost of study
  • PAN card of the parent, student or legal guardian
  • Aadhar Card of the student and parent or guardian
  • Identity proof which may be a copy of Driving License or Passport or Aadhar Card
  • Residence Proof which may be copy of Driving License or Passport or Electricity Bill or Telephone bill
  • Student/co-borrower’s/Guarantor’s bank account statement of the last 6 months
  • IT Returns or IT Assessment Order of the last 2 years of parent or guardian or another co-borrower
  • Brief Assets and Liabilities Statement of parent or guardian or another co-borrower
  • Income proof which can be the salary slip or Form 16 of the parent or guardian
  • And other educational documents listed by the bank for SBI Student scheme.

Q. What is holiday Period?

Answer: A holiday period is the maximum time which is provided to a student before the repayment of the principal loan in EMIs.

In case a student starts working immediately after completion of course then he will not enjoy the holiday period.

Q. What is Moratorium Period?

Answer: A moratorium period is the time duration when the borrower is required to pay the EMIs.

Q. I want SBI Education loan for Studying in IIM? For which loan I should apply?

Answer: Hi, if you want to study in IIMs then you can apply for the SBI Scholar loans. The bank will give you loan depending upon which IIM you are studying in. They have categorized IIMs into two categories AA and A.

  • If you are taking admission in any of the IIM in AA category then you can get loan upto Rs.35 lakhs with any other security required.
  • If you are taking admission in any of the IIM falling in A category then you can get loan of maximum Rs. 20 lakhs and it can be extend up to Rs.30 Lakhs if co-borrower also show any tangible security of the loan value.

Q. If I want to study in NIT. For this which loan I can apply?

Answer: Hi, if you want to apply for education loan for studying into NIT then you also can apply for SBI Scholar loan. Under this scheme all the NITs fall under B and C Category colleges.

  • For B Category, you can get the loan of Rs.20 lakhs.
  • For C Category, you can get loan of Rs. 7.5Lakhs and can be extended upto 30 Lakhs if any tangible security equivalent of loan amount is submitted to the bank.

Q. What is security does one needs to provide while securing loan?


  • In most of the cases there is no need of security required for availing loan. But once the amount of loan is above the described amount then the person has to provide the tangible collateral security for the above loan amount.
  • The security can a property papers, gold, vehicle, bonds, National saving certificates etc.

Cases when Security Required in various loan:

  • In Student Loan - For loan amount above Rs.7.5 lakhs, a tangible security as well as the parents guarantee is required.
  • In Scholar Loan - For loan amount above the prescribed amount the tangible security is required.

Q. Is there any concession for girl students in interest?

Answer: Yes, SBI provides a concession for the girl students in various loan schemes. In Student loan scheme and Global Ed-Vantage Scheme, girl students can avail 0.50% concession in interest.

Contact Details

Contact Number: 1800 425 3800, 1800 11 2211,  080-26599990