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Saraswat Bank Education Loan- Student Loan in India

Saraswati Education Loan


  • Parent of the student
  • Student will be the co-applicant


For studies in India & abroad

Saraswat Bank Education Loan Amount

  • Studies in India – Maximum upto Rs. 10 lakh and Max upto 30.00 Lakh for selected courses. 
  • Studies Abroad – Maximum upto Rs. 50 lakh

Basis of Advance         

Upto 90% of cost of the fees and other related expenses.


  • Maximum 12 years exclusive of moratorium period.
  • Moratorium: Three years or duration of the course plus one year whichever is earlier.

Saraswat Bank Education Loan Rate of Interest

Upto Rs 50 lacs : PLR – 2.50 = 11.75%

Present PLR: 14.25% p.a

Saraswat Bank Education Loan Security 

  • Upto  Rs. 4.00 lacs: Minimum Two guarantors
  • Above  Rs. 4.00 lacs : Pledge of any other tangible security acceptable to the bank OR Equitable mortgage of Property

Following Permissible Securities. Value Will Be Considered Based On Various Margins Decided By The Bank.

  • Tangible Security Like LIC ,NSC ,KVP ,Gold, RBI Bonds Or FD’s With Our Bank
  • Or
  • Mortgage Of Unencumbered Property
  • One Or More Personal Guarantees Depending On The Merits Of the Proposal.

Processing Fees          

For studies in India – Nil

For studies abroad – 0.5% of the loan amount

Saraswat Bank Education Loan Documents Required

  • Duly filled application form
  • Admission related documents, such as, Offer letter from university / college / institutes stating details of course and admission procedure/s .
  • In case of students going to USA – I 20 / Admission letter
  • Passport copy (in case of education abroad) or identity proof
  • Latest academic mark sheets
  • Work experience proof if any Loan related documents, such as, KYC documents of applicants and guarantor such as PAN card, address proof, photograph.

For salaried person, copies of

(i)     Salary slip for last three months

(ii)    Bank Account statement (where Salary is credited) for last six months,

(iii)   ITR & Form 16 for last three years

For businessman / professional, copies of 

(i)     Last three years’ Audited Profit & Loss & Balance Sheet,

(ii)    ITR with Computation of Income for last 3 years

Bank Account Statement (related to business/profession) for last six months

Key features of the scheme

  • No prepayment charges
  • Issue of solvency certificate
  • Foreign currency/ Demand Drafts / Travellers’ cheques available.
  • Loan available on the basis of admission letter
  • Phased disbursement facility available
  • 0.5% concession in Rate of interest for all girl students and students of IIM, IIT, XLRI etc.


    • Comprehensive Insurance of assets charged to the Bank
    • Optional Life Insurance cover at concessional rates