State Bank of India Student Loan: Along with rising inflation, the expenditure on education has also increased very rapidly. In such a situation, it has become difficult for parents to bear the cost of education of their children. In such a situation, many times people take the help of Education Loan for the education of children and their better future. Most of the banks in the country offer Education Loan to children for higher education.
The country’s largest public sector bank i.e. State Bank of India offers student loans to its customers for their higher education. Explain that SBI’s education loan is a term loan through which students can study not only in the country but also abroad. If you are also planning to take loan from SBI for higher education, then we give you information about the interest rate processing fees and the courses covered on this loan-
You can get education loan for these courses
Through SBI Student Loan, you can get loan for many courses in India and abroad. Through SBI education loan, you are given education loan for regular technical and professional degree / diploma courses, many degree courses of colleges / universities recognized by UGC / AICTI / IMC / Government. Along with this, you can also be given a loan for many regular degree / diploma courses. It also includes Nursing, Civil Aviation, Aeronautics, Pilot Training, Shipping etc.
Key Features of SBI Education Loan-
1. In this loan, you get a loan at 8.85 percent interest rate. There is a rebate in the education loan of girls of 0.50 percent in the interest rate.
2. You will get a loan of up to 50 lakhs to study in the country and 1.5 crores to study abroad.
3. No collateral security will be required for loans up to Rs 7.5 lakh.
4. There is no processing fee for loans up to 20 lakhs.
5. For loans above Rs 20 lakh, you will have to pay a processing fee of Rs 10,000.
6. The repayment of this loan starts after one year of completion of studies.
7. You get the facility to repay the loan for 15 years.
8. On the other hand, if you have taken a loan of up to 4 lakhs, then you are not given any kind of deadline.
SBI student loan get this cover
This includes your school, college, hostel and laboratory fees.
This includes the fees for the child’s book, necessary equipment, college dress and laptop.
Caution deposit is also covered.
Pocket money for children’s education abroad.
Two-wheeler vehicle worth less than Rs. 50 thousand.