State Bank of Saurashtra Education Loan- Student Loan in India

State Bank of Saurashtra Education Loan Scheme

Eligible Courses

  • All courses having employment prospects are eligible.
  • Graduation courses/ Post graduation courses/ Professional courses
  • Other courses approved by UGC/Government/AICTE etc.

 

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
  • 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 etc.

Amount of Loan

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

Interest Rate
Please refer Interest Rate Section for Current Interest Rates

 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

Security

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%

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)