SBI Student Loan Scheme
Term loan for Indian nationals pursuing higher education in India or abroad after securing admission.
Key Benefits
Up to ₹75 lakh for medical courses at ranked top 100 NIRF institutions and ₹50 lakh for other eligible institutions, subject to scheme criteria; higher limits may be considered case-by-case; repayment holiday.
Eligibility
Indian nationals with secured admission to eligible higher-education courses/institutions.
Documents Required
Admission/course/income/security documents as applicable to education-loan appraisal.
Fees & Charges
Above ₹7.50 lakh generally requires tangible collateral security; insurance required above ₹7.50 lakh; margin 5% for India and 15% for abroad above ₹4 lakh.
How to Apply
Apply through SBI education-loan channels/education loan portal.
Frequently Asked Questions
What is the repayment period?
SBI states repayment up to 15 years after course period plus the applicable repayment holiday.
Is collateral required?
SBI states up to ₹7.5 lakh requires parent/guardian as co-borrower without collateral; above ₹7.5 lakh requires tangible collateral security.
What is the processing fee?
SBI lists nil up to ₹10 lakh; ₹5,000 + GST above ₹10 lakh up to ₹20 lakh; and 0.50% above ₹20 lakh subject to a ₹25,000 + GST maximum.