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State Bank of India (SBI) Education Loan- Student Loan in India

State Bank of India (SBI) Education Loan Scheme

SBI Education Loan Eligible Courses 

a. Studies in India:

- Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc

- Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc

- Teacher training/ Nursing courses approved by Central government or the State Government

- Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director   

General of Civil Aviation/Shipping/ concerned regulatory authority

b. Studies abroad:

- Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities

- Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.

SBI Education Loan Expenses considered

  • Fees payable to college/school/hostel
  • Examination/Library/Laboratory fees
  • Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course) 
  • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course) 
  • Travel Expenses/Passage money for studies abroad
  • Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc.

Amount of Loan

  • For studies in India, maximum Rs. 10 lacs
  • Studies abroad, maximum Rs. 20 lacs


SBI Education Loan Interest Rates

SBI Student Loan Scheme   

Loan Amount

 Rate of Interest*

For loans upto Rs.7.5 lacs

10 % p.a.

AboveRs.7.50 lacs

10.75% p.a.


Processing Fees

  • No processing fee/ upfront charges
  • Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

Repayment Tenure  

Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

Place of Study

Loan Amount

Repayment Period 
in Years

Studies in India

Rs. 10.0 lacs

 Up to 15 years

Studies Abroad

Rs. 20.0 lacs

Up to 15 years 


SBI Education Loan Security


For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad

Upto Rs. 7.5 Lacs:

Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee

Above Rs. 7.5 Lacs:

Parent/ Guardian as co-borrower and tangible collateral security


All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be spouse or the parent(s)/ parents-in-law

Also See : SBI Education Loan at 8.5% interest for studying at top Business Schools

SBI Education Loan Margin 

For loans up to Rs.4.0 lacs: No Margin 
For loans above Rs.4.0 lacs: Studies in India: 5%; Studies Abroad: 15%

SBI Education Loan Documentation Required
-          Letter of admission
-          Completely filled in Loan Application Form
-          2 passport size photographs
-          Statement of cost of study
-          PAN Card of the student and Parent/ Guardian
-          AADHAR Card of the student and Parent/ Guardian
-          Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
-          Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
-          Student/Co-borrower/ guarantor's bank account statement for last 6 months
-          IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
-          Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
-          Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower