Educational Loan schemes by SBI

Educational Loan schemes by SBI, sbi education loan scheme, sbi education loan details 2015

State bank of India is offering various kind of loans ( student loan, scholar loan, vocational education or training loan) to the students willing to pay their college fees thru bank loans. Lets see what are the schemes and its interest rates.

Base Rate 9.85% w.e.f. 10.04.2015

EDUCATION LOANS

1) SBI STUDENT LOAN SCHEME

Loan Amount	Rate of Interest*
For loans upto Rs.4 lacs	3.50% above Base Rate, currently 13.35% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs	3.75% above Base Rate, currently 13.60% p.a.
Above Rs.7.50 lacs	1.75% above Base Rate, currently 11.60% p.a.

*(0.50% concession in interest for girl students)
(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration^#)

IT exemption under Section 80(E) in respect of interest paid in all Education Loans

2) SBI SCHOLAR LOAN SCHEME

List of 93 institutions (list enclosed)
Related Links – List of 93 institutions
Rate of Interest:

List	ROI
List AA	25 bps above Base Rate i.e., 10.10% p.a. at present
List A	25 bps above Base Rate i.e., 10.10% p.a. at present
List B	For loans upto Rs. 20 lacs (No Security, only Parent/ Guardian as co-borrower): 50 bps above Base Rate i.e., 10.35% p.a. at present Further concessions: 25 bps – if collateral security >= the loan amount 25 bps – work experience of more than 2 years (effective rate of interest with both concessions not to be lower than 25 bps above Base Rate presently, 10.10% p.a.)
List C	175bps above Base rate i.e. 11.60% p.a. 1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration^#

Click here for List of Institution
IT exemption under Section 80(E) in respect of interest paid in all Education Loans

3) SBI LOAN SCHEME FOR VOCATIONAL EDUCATION AND TRAINING

Rate of Interest
3.50% above Base Rate, currently 13.35% p.a.

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration^#

Note:1% interest concession for servicing interest is available if interest is serviced promptly soon after application but not later than the following month.
IT exemption under Section 80(E) in respect of interest paid in all Education Loans

Please note: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

More details: https://www.sbi.co.in/portal/web/interest-rates/education-loan-scheme

Educational Loan schemes by SBI, sbi education loan scheme, sbi education loan details 2015,

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Educational Loan schemes by SBI