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Loan amount Upto 95% of all costs upto a maximum of Rs.16.0 lac. (Taking into account expenditure of married students and cost of a laptop, which is essential for students.)
Margin 5%
Rate of Interest 9.50% (Fixed) for Male students
9.25% (Fixed ) for female students
Only Simple Interest will be charged during the course and moratorium period.
The rate of interest will not change during the complete tenure of the loan.
Interest is calculated on daily reducing balance.
Repayment Up to 7 years. A customised repayment schedule taking into account individual repayment capacity of the student is permissible.
Moratorium Period Up to 3 months after completion of course.
Co-borrower Yes. The loan will be granted jointly with the parent/ guardian.
Security Lien on the original Certificate and Marks Sheet of the student. The Certificate will remain in custody of SBI during the currency of the loan.
Third party guarantee (TPG), preferably of earning sibling of the student or a person known to the Bank i.e., a person who is our customer or he/she is a reputed person or a guarantor of one of our borrowers.
Application Processing Time Loans will be sanctioned and disbursed within three days, after submission of application form, complete in all respects except where mortgage of immovable property is to be created.
Processing Fees/ Prepayment ChargesForeclosure Charges Nil.
Takeover of Education Loan from other Banks/ Financial Institutions for existing students and alumni Permissible
Contact Branch Hyderabad University Campus Branch,
Gachibowli, Hyderabad- 500019
Telephone: 040-23011301/289
Fax: 040-23011617
Documents to be enclosed
i. Mark sheet of last qualifying examination for school and graduate studies in India.
ii. Copies of letter conferring scholarship, freeship, studentship etc.
iii. Documents evidencing the duration of course and commencement thereof viz. prospectus or certificate from the competent authority of the institution.
iv. Proof of admission to the course.
v. Schedule of expenses for the course.
vi. Two copies of passport size photograph of the borrower(s) / guarantor(s).
vii. Statement of Bank account for the last six months of the borrower(s)
viii. Signature identification from bankers of borrower(s) guarantor(s).
ix. A copy of Passport/Voters ID Card/Proof of residence.
For salaried persons
i. Latest salary slip showing all deductions.
ii. Employment details for the last 5 years.
iii. Latest TDS Certificate – Form 16.
iv. Statement of assets and outstanding liabilities.
For Self-Employed/Professionals and Businessmen
Proof of income.
Income Tax/Wealth Tax (if applicable) assessment orders not more than 2 years old.
Assets and Liabilities.
If Collateral Security is Mortgage of Landed Property
Original Sale Deed
Original receipt of payment made for registrar
Society share certificate
Non encumbrance or certificate from advocate
Valuation Report
For more details, visit http://www.statebankofindia.com/viewsection.jsp?lang=0&id=0,1,20,118,277
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| Author: Vidya 25 May 2008 | Member Level: Diamond Points : 2 |
useful information
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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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