1)SBI STUDENT LOAN SCHEME

Amount

Studies In India

For loans upto Rs.7.5 lacs

Only Parent/ 2% above MCLR, currently 11.15% p.a.

Above Rs.7.50 lacs

Only Parent/ 1.70% above MCLR, currently 10.85% p.a.
2)SBI SCHOLAR LOAN SCHEME

List

ROI

List AA

  • 0.30% above MCLR i.e., 9.45% p.a. at present (UptoRs. 30 Lacs without collateral).

List A

  • *For IIMs: 0.30% above MCLR i.e., 9.45% p.a. at preset.
  • *Other Institutions: 0.50%above MCLR i.e., 9.65% p.a.

List B

  • 0.80% above MCLR i.e., 9.95% p.a. at present (UptoRs. 20 Lacs without collateral)
  • Further concessions:
  • *0.25% – if collateral security >= the loan amount
  • *0.25% – work experience of more than 2 years
  • (effective rate of interest with both concessions not to be lower than 0.40% above MCLR presently, 9.55% p.a.)

List C

  • 1.90% above MCLR i.e. 11.05% p.a.(UptoRs. 7.5 Lacs without collateral, upto Rs. 30 with collateral)
  • *1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#

3) SBI GLOBAL ED-VANTAGE SCHEME

1.70% above MCLR, currently 10.85% p.a.

a . 0.50% concession for students availing of SBI Rinn Raksha

b . 0.50% concession for girl students.

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

4) SBI SKILL LOAN SCHEME

3.90% above MCLR, currently 13.05% p.a.

a1% 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.

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