Online Apply SBI Scholar Loan Scheme

Published date: November 5, 2017
Modified date: December 3, 2017

SBI Scholar Loan : Loan for pursuing higher education of the country

  • 100% Financing
  • NO Processing Fee
  • Quick sanction at Designated Campus Branch or more than 5000 Selected Branches all over the country
  • Repayment period of upto 15 years after Course Period + 12 months of repayment holiday

SBI Scholar Loan Eligibility

  • Should be an Indian National
  • Secured admission to Professional/Technical courses through Entrance Test/Selection process

SBI Scholar Loan Courses Covered

  • Regular full time Degree/ Diploma Courses through entrance test/ selection process.
  • Full time Executive Management Courses like PGPX
  • No Certificate/ Part time courses

SBI Scholar Loan Expenses Covered

  • Fees payable to College/School/Hostel
  • Examination/ Library/ Laboratory fees
  • Purchase of Books/Equipments/Instruments
  • Caution deposit / building fund/ refundable deposit supported by Institution bills/ receipts [not to exceed 10% of the tuition fees for the entire course].
  • Travel expenses/expenses on exchange programme ^
  • Purchase of computer/laptop ^
  • Any other expenses related to education ^

1. No voucher/ receipt required, purpose (end use) need to be self-certified.

2. Expenditure not to exceed 25% of the loan amount (upto a lumpsum amount of max Rs. 1 Lac).

3. Expenditure beyond 25% cap permitted subject to production of voucher/ receipt.

SBI Scholar Loan Loan Amount & Security

CategoryMaximum Loan Limit
No Security, only Parent/ Guardian as co-borrowerWith tangible collateral of full value and Parent/ Guardian as co-borrower
List AA Rs. 30 lacs-
List A Rs. 20 lacsRs. 30 lacs
List BRs. 20 lacs-
List CRs. 7.5 lacsRs. 30 lacs
  • In case of married person, co-obligat or can be either spouse or the Parent(s)/ Parent(s)-in-law.

SBI Scholar Loan Repayment :

  • Repay in 15 years, after the course completion + 12 months
  • In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course

SBI Scholar Loan EMI Generation

  • The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).
  • If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.

SBI Scholar Loan Rate of Interest

Please click here to Rate of Interest

SBI Scholar Loan Documents 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

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