Online SBI Skill Education Loan Scheme

Published date: November 6, 2017
Modified date: November 7, 2017

SBI Skill Loan : A term loan granted to Indian Nationals for pursuing Skill development courses in India.

SBI Skill Loan Courses and Institution Eligibility

  • Training Institutes/ Courses: Courses run by Industrial Training Institutes (ITIs), Polytechnics, training partners affiliated to National Skill Development Corporation (NSDC)/ Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) are eligible for a Skilling Loan.
  • Schools recognized by Central or State Education Boards or Colleges affiliated to recognized university leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.

There is no minimum course duration.

SBI Skill Loan Expenses considered for loan

  • Tuition / Course Fee
  • Examination / Library / Laboratory fee
  • Caution deposit
  • Purchase of books, equipments and instruments

Any other reasonable expenditure found necessary for completion of the Course. (As such courses are localized boarding, lodging may not be necessary. However, wherever it is found necessary, the same could be considered on merits)

SBI Skill Loan Amount of Loan

  • Minimum Loan Amount: Rs. 5000
  • Maximum loan amount: Rs. 1,50,000

SBI Skill Loan Interest Rate
Click here for Interest Rate

Timeline for Disposal of Loan Application

Maximum 6 days, after the receipt of duly completed application with supporting documents.

The timeline start from the date of receipt of complete documents from the applicant and the time taken by the applicant for submitting documents and/ or for furnishing information sought by the Bank will not be taken into account for the purpose of timeline indicated above.

All timeline counts will be on the basis of full working days. Wherever there is a need for verification etc. with various authorities/ Govt. bodies across one or more centres, a minimum of 15 additional working days will be applicable. We shall endeavour, at all times, to deliver within the indicated timelines, barring in situations and circumstances that are beyond the control of the Bank.

SBI Skill Loan Processing Fees : Nil

SBI Skill Loan Margin : Nil
Moratorium Period

Course DurationMoratorium Period
Courses of duration upto 1 year6 months from the completion of the course
Courses of duration above 1 year12 months from the completion of the course

Repayment Tenure

Loan AmountRepayment Period in Years
Loans upto Rs 50,000Upto 3 years
Loans between Rs 50,000 to Rs 1 lakhUpto 5 years
Loans above Rs. 1 lakhUpto 7 years

SBI Skill Loan Security

  • No collateral or third party guarantee will be taken.
  • However, the Parent/ Guardian will execute loan documents along with the student, as joint borrower (co-borrower). Spouse will be included as co-applicant wherever applicable, in addition to Parent/ Natural Guardian.

SBI Skill Loan Documents Required

  • Completed 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
  • PAN Card of the student and the Parent/ Guardian/ Spouse
  • AADHAR Card of the student and the Parent/ Guardian/ Spouse
  • Borrower's Bank account statement for the last six months
  • Income tax Returns/ IT assessment order, of last 2 yrs of co-borrower (if IT Assessee)
  • Brief statement of assets and liabilities, of the Co-borrower
  • Proof of Income (i.e. Salary slips/ Form 16), if applicable

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