Educational Loans Indian Overseas Bank

Educational Loans-Vidya Jyoti

Eligibility

Should be an Indian National

Should have secured admission to professional/technical courses in India or abroad

Purpose

Loan is made available for Graduation/Post graduation/Diploma/Computer education in any recognized State/Central Government/University, professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc, courses offered in India by reputed foreign universities/Evening courses of approved institutes, regular degree/ diploma courses like Aeronautical , Pilot training , shipping etc approved by Director General of Civil Aviation/ shipping if the course is pursued in India. Incase the course is pursued abroad, the institute should be recognized by the competent local aviation/ shipping authority. For studies abroad, loans will be made available only for Graduation and Post Graduation Courses offered by Reputed Universities and not for diplomas

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Quantum of loan

Maximum of Rs. 30.00 lakhs for studying in India and Rs. 40.00 lakhs for studying abroad.

Repayment 

 Repay the loan in equal monthly Instalments for a maximum period of 5 - 7 years excluding holiday period.

 Interest servicing

 It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.

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Education Loan In Indian Bank

Indian Bank provides convenient educational loans for meritorious/deserving students to acquire knowledge and skill in the field of their interest. By playing beacon, new-generation's quest for success is ably supported, paving way for Generation Banking.

» Apply Online for Educational Loan

Eligibility

The applicant should be an Indian National. He / She should have secured admission to professional / technical courses in India or abroad through Entrance Test / Merit based selection process..

Course of Study

Studies in India

Diploma/Graduation/Post-graduation courses in various disciplines. Computer certificate courses of reputed institutes accredited to The Department of Electronics.

Studies Abroad

Job-oriented professional/technical courses offered by reputed universities. MCA, MBA, MS etc. Courses conducted by CIMA - London, CPA in USA etc.

Maximum Permissible Amount of Loan

.For Studies in India - Rs.10.00* lakhs 

.For Studies Abroad - Rs.20.00* lakhs

* Higher quantum of loan also can be considered in deserving and meritorious cases.

Security *

Documents should be executed both by the student and parent / guardian as joint borrower.

1. Upto Rs. 4 lacs - No security

2. Above Rs. 4 lacs & Upto Rs.7.50 lacs - Collateral in the form of satisfactory third party guarantee

3. Above Rs.7.50 lacs - Co-obligation of parents / guardians together with tangible collateral security of suitable value along with assignment of future income of the student for payment of installments.

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Education Loan In Central Bank Of India

1. Purpose of Loan For pursuing higher studies, in India & Abroad 2. Eligibility The student should be an Indian National. Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories). However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases Branch should take into consideration the employability and reputation of the institution concerned. Note: A meritorious student (who qualifies for a seat under merit quota) is     eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota. 3. Nature of Facility Term Loan 4. Expenses considered for loan         i.            Fee payable to college++/ school/ hostel*       ii.            Examination/ Library/ Laboratory fee     iii.            Travel expenses/ passage money for studies abroad     iv.            Insurance premium for student borrower, if applicable       v.            Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. **     vi.            Purchase of books/ equipments/ instruments/ uniforms***   vii.            Purchase of computer at reasonable cost, if required for completion of the course*** viii.            Any other expense required to complete the course - like study tours, project work, thesis, etc.***     ix.            While computing loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account. Notes:           ++   For courses under Management quota seats considered under the scheme, fees as approved by the State Government/Government approved regulatory body for payment seats will be taken, subject to viability of repayment. *     Reasonable lodging and boarding charges will be considered in case the student chooses / is required to opt for outside accommodation. **     These expenses could be considered subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course. ***  It is likely that expenditure under Item Nos. vi, vii & viii above may not be available in the schedule of fees and charges prescribed by the college authorities.  Therefore, a realistic assessment may be made of the requirement under these heads.  However, the maximum expenses included under vi, vii & viii may be capped at 20% of the total tuition fees payable for completion of the course. 5. Maximum loan amount Rs. 10 lakh for studies in India. Rs. 20 lakh for studies Abroad. The ceilings fixed for studies in India and Abroad correspond to the limits fixed by the RBI for treatment as priority sector lending. However Regional Managers can consider/sanction higher quantum of loan on course to course basis and on merits subject to condition that the loan amount should be backed by 100% liquid security/collateral security. It may also be noted that even loans in excess of Rs. 10 lakh qualify for interest subsidy under Central Sector Interest Subsidy Scheme for loans up to Rs.10 lakh. 6. Margin Upto Rs. 4 lacs : NIL, Above Rs. 4 lacs:In India - 5% ,Abroad - 15% Margin (scholarship may be included in margin.) 7. Rate of Interest Type of Borrower Rate of interest Male Students Base Rate+2.00% Female SC,ST & IIM/IIT students Base Rate+1.50% 8. Incentive 1% interest concession may be provided by the bank during the study period, if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment. Interest is calculated at simple basis during Repayment Holiday / Moratorium Period. Interest will be compounded on monthly rests from due date of first instalment. 9. Disbursement Payment directly to college / hostel / mess / airlines etc.  In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence.  Original receipts to be submitted. 10. Repayment Repayment to commence 12 months after completion of studies or 6 months after securing job whichever is earlier. Maximum repayment period upto 10 years for loans upto Rs.7.50 lakh Maximum repayment period upto 15 years for loans above Rs.7.50 lakh.  Repayment on EMI basis. 11. Security Upto Rs 4 lacs Parent(s)/guardian to be joint borrower(s). Assignment of future income of the student for payment of loan instalments. No security. Above Rs.4 lacs and upto Rs7.5 lakhs Besides the Parent(s)/guardian executing the documents as joint borrower(s), collateral security in the form of suitable third party guarantee will be taken along with the assignment of future income of the student for payment of instalments. TheRegional Manager/Senior Regional Manager  and above, at their discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as joint borrower(s). Above Rs.7.5 lakhs Parent(s)/guardian to be joint borrower(s). Tangible collateral security of minimum value equivalent to the loan amount and acceptable to bank, along with the assignment of future income of the student for payment of instalments. 12 Insurance Comprehensive life insurance policy for the student availing Educational Loan equivalent to loan amount, for a minimum period of loan term (i.e., course period + moratorium period + repayment period) should be obtained and assigned in favour of the Bank.  Regional Manager is empowered to waive the condition of insurance very selectively but the education loan amount should be covered by 100% liquid security/collateral security. 13 Central sector interest subsidy scheme: It need to be noted that while the Central Sector Interest Subsidy Scheme of MoHRD is based on 'IBA Model Educational Loan Scheme', the subsidy is applicable only for loans given for Professional and Technical courses (after 12th standard) in India. It may also be noted that even loans in excess of Rs. 10 lakh qualify for interest subsidy under Central Sector Interest Subsidy Scheme of MoHRD for loans up to Rs.10 lakh. 14 Educational Loans to students under Management Quota Educational Loans to students under Management Quota are not covered under IBA Model Education Scheme. These loans are not eligible for Central Sector Interest Subsidy Scheme of MoHRD. However, Branches can consider educational loans under management quota seats where employment potential is available, subject to the following conditions: Fee Structure The payment/reimbursement of fees is restricted to fee structure as approved by the State Government / Government approved regulatory body for payment seats. It should be ensured that the student should have the financial resources to meet the funding gap. Security Parent(s)/guardian to be joint borrower(s). Irrespective of loan amount, 100% tangible collateral security of minimum value equal to loan amount and acceptable to bank should be obtained along with assignment of future income of the student for payment of instalments. Others All other terms and conditions as applicable for Centvidyarthi Scheme shall be complied with. 15 Processing Fees No processing / upfront charges may be levied on loans for studies in India sanctioned under the scheme. For studies abroad, Rs.500/- for loan upto Rs.10 lakh and Rs.1000/- for loan above Rs.10 lakh will be charged while considering the applications, but refunded when loan is availed by the student i.e. within 6 months from the date of sanction.

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Education Loan In Andhra Bank

I. Educational Loans for Higher Studies in India and Abroad.

Student Eligibility

.The student should be an Indian National 

.NRI-if student is holding Indian PassPort. (Suitable Collateral Security enforceable in India is to be provided for all such proposals.) 

.For the purpose of this scheme higher education is defined as studies taken up after completion of higher secondary school i.e. Ten plus two stage 

.Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

 .In case where admission is not through common entrance test and the marks secured in the qualifying examination is the only criteria adopted, the minimum cut off marks should be 65% in aggregate in the qualifying academic examination.

 .The cut-off of 65% marks in aggregate in the qualifying academic examination is also applicable to all courses offered by deemed universities and also to non-professional and non-technical courses, irrespective of the common entrance test. 

.The revised Model Educational Loan Scheme (2011) covers only merit channel seats for the courses. Admissions through management quota are outside the purview of IBA Model Scheme on Educational Loans for Higher Studies. However we may consider sanction of loans to students securing admissions under management quota with a suitable collateral security of not less than 150% value of the sanctioned limit irrespective of quantum of loan whether it is below Rs. 4 lakhs or above Rs. 4 lakhs.

Institute Eligibility

The eligibility for loan is determined based on employability of the course and reputation of the institution concerned. List of accredited institutions for all the courses is to be prepared by the Zonal Offices, and individual scores have to be allotted based on scoring methodology designated for the purpose. The rating system and modalities of accrediting Educational Institutes is as per Annexure I. Education Loans should be given to students who secure admission in such accredited Institutions only  Expenses considered for loan Fee payable to college/ school/ hostel* Examination/ Library/ Laboratory fee Travel expenses/ passage money for studies abroad Insurance premium for student borrower, if applicable Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. ** Purchase of books/ equipments/ instruments/ uniforms*** Purchase of computer at reasonable cost, if required for completion of the course*** Any other expense required to complete the course - like study tours, project work, thesis, etc*** In respect of Degree level courses in Non Technical and Non Professional courses the aggregate of all expenses considered for finance should not exceed Rs.1 Lakh for the total course .   Margin Upto Rs..4 lacs Nil Above Rs. 4 lacs Studies in India 5% Studies Abroad 15% Scholarship/ assistantship to be included in margin. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.  Security Up to Rs. 4 lakh Parents to be joint borrower(s). No security. Collateral free limit of Rs.4 lakh is student specific and not family specific. More than one loan can be considered for other siblings in the same family even when one of the siblings has already availed a collateral free loan. Above Rs.4 lakh & upto Rs.7.5 lakh Besides the parent(s) executing the documents as joint borrower(s), collateral security in the form of suitable third party guarantee will be taken. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as joint borrower(s). Above Rs.7.5 lakhs Parent(s) to be joint borrower(s) Tangible collateral security of suitable value acceptable to bank along with the assignment of future income of the student for payment of installments. Note :- The loan documents should be executed by both the student and the parent/ guardian as joint-borrower. The security can be in the form of land/ building/ Govt. securities/ Public Sector Bonds/Units of UTI, NSC, KVP, life policy, gold, shares/mutual fund units/debentures, bank deposit in the name of student/ parent/ guardian / any other third party or any other tangible security acceptable to the bank with suitable margin.Wherever the land/ building is already mortgaged, the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount

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Education Loan In Allahabad Bank

ALLAHABAD BANK EDUCATION LOAN| INTEREST RATES| ELIGIBILITY| INFORMATION

Eligibility:

Indian National who has secured admission to professional/ technical courses in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection Process after completion of H.S.C. (10 plus 2 OR equivalent). Courses Eligible:

Courses eligible for study in India:

Approved courses leading to Graduate/ Posy-Graduate degree and P.G. Diplomas conducted by recognized Colleges/ Universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc. Courses like ICWA, CA, CFA etc. Courses conducted by IIMs, IITs/ IISc, XLRI, NIFT, NID etc. Regular Degree/ Diploma Courses like Aeronautical, Pilot Training, Shipping etc. approved by Director General of Civil Aviation/ Shipping, if the course is pursued in India. Approved courses offered in India by reputed Foreign Universities.

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:

 Studies in India: Maximum Rs. 10.00 lac 

Studies abroad:Maximum Rs. 20.00 lac.

 Expenses Considered for Loan Fee payable to College / School /Hostel Examination/Library/Laboratory Fee Purchase of Books / Equipments/ Instruments/ Uniforms. Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course. Travel Expenses/Passage Money for studies abroad. Purchase of Computers essential for completion of the course at reasonable cost. Insurance premium for student borrower. Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc. Reimbursement of the fee paid at the time of counseling if applied within 60 days from the date of such payment.

Repayment:

Repayment Holiday / Moratorium is “Course Period + 1 year” or “6 months after getting job”, whichever is earlier. Loans up to Rs.7.50 Lac to be repaid within a maximum period of 10 years & those above Rs.7.50 Lac within a maximum period of 15 years after commencement of repayment period.

Courses eligible for Study abroad:

Graduation: For Job oriented professional/technical courses offered by reputed Universities. Post Graduation: MCA, MBA, MS etc. Courses conducted by CIMA London, CPA in USA etc. Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute duly recognized by the Competent University/ State Body/ Local Aviation/ Shipping Authority.

Education Loan Interest Rates as Follows:-

Education Loan: Interest Rates as per Bank’s Base Rate (BR) w.e.f. 01.05.2012
	(i)  For IIT/ IIM/ ISB (loan upto 10.00 Lacs) (ii) For Others (a) Loan upto 4.00 Lacs (b) Loan above Rs.4.00 Lacs	10.50% +2.25% = 12.75% 10.50% +3.00% = 13.50% 10.50% +3.00% = 13.50%
@ For girl students, rebate @1% will be allowed under each slab. Rebate of 1.00% on the interest charged in the moratorium period will be provided if the interest is serviced during the study period when repayment holiday is specified for interest / repayment under the scheme.

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Education Loan In Bank Of India

Star Education loan that cares for careers

OBJECTIVE & PURPOSE :

The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.

ELIGIBILITY CRITERIA :

STUDENT'S ELIGIBILITY:

Should be an Indian National; Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process. Good academic career. The student should not have outstanding education loan from any other Institution. Father/Mother should be co-borrower. Branch nearest to the permanent residence of student will consider the loan.

ELIGIBLE COURSE :

Studies in India (Indicative list) :

Graduation/ Post Graduation courses Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt. Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc. Note : Professional courses not approved by AICTE and conducted by Institutes not recognized by State Universities is outside the purview of the eligibility under the scheme.

Studies abroad :

Graduation: For job oriented professional/technical courses offered by reputed universities. Post-Graduation: MCA, MBA, MS, etc. Courses conducted by CIMA - London, CPA in USA, etc.

EXPENSES CONSIDERED FOR LOAN :

Fee payable to college/school/hostel* Examination/Library/Laboratory fee. Purchase of books/equipment’s/instruments/uniforms. Caution deposit/building fund/refundable deposit supported by Institution bills/receipts. Travel expenses/passage money for studies abroad. Purchase of computers - essential for completion of the course. Insurance cover for the student. Any other expense required to complete the course - like study tours, project work, thesis, etc. * As per brochure/ demand letter from the institution.

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QUANTUM OF FINANCE :

Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings : Studies in India - Maximum Rs.10.00 lakh Studies abroad - Maximum Rs.20.00 lakh.

MARGIN :

Upto Rs.4 lakh : Nil Above Rs.4 lakh - Studies in India : 5% Studies Abroad : 15%· Scholarship could be included in margin.· Margin to be brought in on year to year basis as and when disbursements are made.

SECURITY :  Upto Rs. 4 lakh : No security Above Rs.4 lakh &upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee. Above Rs.7.5 lakh : Co-obligation of Parents together with tangible Collateral security of suitable value along with the assignment of future income of the student for payment of instalments. Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc., in the name of Student/Parent/Guardian/Guarantor with suitable margin.

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Education Loan In Bank Of Baroda

Baroda Education Loan

Education is the most important investment one makes in life. Higher studies and specialization in certain fields call for additional financial support from time to time.

Whether you are planning school education (nursery to standard XII) of your child, pursuing a graduate or post-graduate degree, the Bank of Baroda Education Loans, can help finance your ambitions and goals.

Baroda Scholarship

Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...

Terms & Conditions

Eligiblity of Courses : Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas. Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.

Student Eligiblity :

Should be an Indian National.

Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.

Coverage of expenses (for overseas studies) :

Admission/Tuition fees to College/University.

Hostel/Mess charges.

Examination/Library/Laboratory fee.

Purchase of books/equipments/instruments.

Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.

One way travel expenses/Passage money.

Purchase of computers if essential for completion of the course.

Any other expense required to complete the course e.g. study tour, project work, thesis etc.

Maximum amount of loan : Rs. 20.00 Lacs.

Margin : 15%

Repayment Holiday / Moratorium Period :

Course period + 1 year or 6 months after getting job, whichever is earlier.

Repayment Period :

Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs

Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

Security :

Upto Rs.4.00/- lacs : No security

Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.

Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income

Rate of Interest :

Simple interest during repayment holiday/moratorium period.

1% interest concession, if interest debited during the repayment holiday is serviced.

1% Concession in rate of interest to loans for girl student.

Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

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Education Loan In AXIS Bank

Education Loan

Higher education within your reach

Axis Bank's Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level. We believe, given the right tools and aid every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life. No more would a deserving student have to give away their pursuit of dreams due to lack of money. Our student loans will ensure that worthy students are empowered to take their destiny in to their own hands. Our endeavour is to help the future of our nation in education and prosperity.

Quantum of Loan

The quantum of finance under the scheme is capped at Rs 10.00 lacs for studies in India and Rs 20.00 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of education loan would be Rs 50,000.

Margin

No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.

Role of the Guardian:

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.

Security

Third party guarantee and/or collateral security may be asked for in appropriate cases.

Additional Security:

Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the education loan amount. The policy is kept alive during the currency of the education loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.

Disbursement:

The student loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.

DOWNLOADS

Education_Loan_Agreement.pdf

Education_Loan_Application_Form.pdf

TO APPLY ONLINE

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EDUCATION LOANS(SBI STUDENT LOAN SCHEME)

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

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 · Vocational Training and Skill Development Study Courses will not be covered under the regular Education Loan Schemes. A separate scheme for ‘Loans for Vocational Education and Training’ has been launched which covers financing for such Vocational courses

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

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Expenses considered for loan

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. 30 lacs

EDUCATION LOANS

SBI Student Loan Scheme 

Loan Amount	Rate of Interest*
For loans upto Rs.4 lacs	3.50% above Base Rate, currently 13.30% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs	3.75% above Base Rate, currently 13.55% p.a.
Above Rs.7.50 lacs	1.75% above Base Rate, currently 11.55% 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^#)

SBI Scholar Loan Scheme

	ROI
List A	100bps above base rate i.e., 10.80% p.a. at present Further concessions: ·      25 bps - work experience of more than 2 years ·      50 bps – with parent/ spouse/ guardian as co-borrowers ·      75 bps - collateral security >= the loan amount (effective rate of interest with all 3 concessions above not to be lower than 25 bps above base rate, presently 10.05 % p.a.)
List B	175bps above Base rate i.e. 11.55% 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#

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

SBI Loan Scheme for Vocational Education And Training      

3.50% above Base Rate, currently 13.30% 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.

ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

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