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All courses having employment prospects are eligible.
Graduation courses/ Post graduation courses/ Professional courses
Other courses approved by UGC/Government/AICTE
Expenses considered for loan
Fees payable to college/school/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments/Uniforms
Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
Travel Expenses/Passage money for studies abroad
Purchase of computers considered necessary for completion of course
Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work.
Amount of Loan
For studies in India, maximum Rs. 10 lacs
Studies abroad, maximum Rs. 20 lacs
Interest Rates
For loans up to Rs.4 lacs - 12.25% p.a. Floating
For loans above Rs.4 lacs - 13.25% p.a. Floating
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Documentation Required
* Completed Education Loan Application Form.
* Mark sheets of last qualifying examination
* Proof of admission scholarship, studentship etc
* Schedule of expenses for the specified course
* 2 passport size photographs
* Borrower's Bank account statement for the last six months
* Income tax assessment order, of last 2 years
* Brief statement of assets and liabilities, of the Co-borrower
* Proof of Income (i.e. Salary slips/ Form 16 etc)
Download Application for for Edcational Loan
http://www.sbi.co.in/downloadfile.jsp?fileid=82
More details available at http://www.sbi.co.in/viewsection.jsp?id=0,1,20,118
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| Author: Shinu 31 May 2008 | Member Level: Gold Points : 2 |
I was looking for information on loans. I have been interested in this and happy to read more about it.Thanks for the information
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| Author: Sushil Kumar Patial 06 Jun 2008 | Member Level: Gold Points : 2 |
SBI has really the poorest service. They do not care of customer whether the customer is standing in line for an hour. And if you are thinking of taking loan from SBI then I suggest you to avoid that idea becuase there are thousands of formalities of no use.
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