Key Points of SBI Scholar Loan

Apply Personal Loan Online

Upto 40 Lacs* @ 10.99%* P.A

Enter Your Monthly Salary!

Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

Enter Your Turnover!

Minimum Turnover Should Be Rs. 3Lakhs!

Your Turnover Limit Exceeded!

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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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State Bank Of India abbreviated as SBI is India’s largest bank.

It provides a large no. of loans to provide financial assistance to the people.

SBI provides Educational Loan to serve monetary support to students willing to pursue higher education in India and also in Abroad.

It helps students to continue their education without any hamper.

Types Of Education Loan

  • Student Loan
  • Scholar Loan
  • Global Ed-Vantage Loan
  • Skill Loan

Here, we will discuss Scholar Loan.

SBI SCHOLAR LOAN

To provide financial support to the meritorious students to pursue higher education in reputed and premier universities without any obstacle.

The Scholar Loan is sanctioned in the names of the students and his parent/guardian.

ELIGIBILITY CRITERIA

  • The student should be an Indian National.
  • The student should have secured admission in a full-time technical/professional courses in selected premier institutions.

COURSES TAKEN INTO ACCOUNT

Students must study one of the following courses:-

  1. Regular full-time Management courses.
  2. Regular full-time Diploma/Degree courses from reputed universities.
  3. No certificate/part-time courses.

AREAS COVERING THE LOAN

  1. Fees payable to College/Universities/Hostel (Boarding and lodging expenses).
  2. Books/Notebooks/Essentials/uniform related to the studies.
  3. Fees of Library/Lab/Exam.
  4. Expenses on travelling for the purpose of education.
  5. Refundable deposits/Maintenance bill/Caution money.
  6. Purchase Electronic gadget like Laptop for the study purpose.
  7. Expenses related to an excursion, assignment or projects, or any kind of study related exhibition.

DOCUMENTS REQUIRED

Applicant- Candidate

  • Duly filled application form.
  • ID proof- AADHAAR card, PAN card or Driving License.
  • Residence proof- Any utility bill, Passport.
  • Passport size photos.
  • Passport is mandatory
  • Academic Reports- Entrance Exam Result for the assigned admission, Under-graduation result, Higher Secondary result, Secondary result.
  • Schedule of the expenses of the study
  • Admission documents- Admission letter, Statement specifying the duration of the course.

Co-Applicant

  • ID proof- AADHAAR card, PAN card or Driving License.
  • Residence proof- Any utility bill, Passport.
  • Passport size photos.
  • If any previous loan been taken, then a statement of the loan a/c in last 1 year.
  • Income proof
    • For Salaried Co-Applicant- Bank a/c statement for last 6 months, Last 3 months Salary slip, a copy of IT Returns for the last 2 financial years or last 2 years Form 16 copy.
    • For Self-Employed Co-Applicant- Last 6 months Bank a/c statement, address proof of business, IT return copy, Certificate of TDS, Certificate of Qualification (for professionals)

INSTITUTES approved under the Loan

  • All IITs/IIMs/NITs/other reputed institutions.
  • Close cooperation with the institutes.
  • Institutes with SBI Campus Branches.

SECURITY/COLLATERAL

  • Parents/Guardian will have to be co-borrower.
  • No such security or collateral is required. The only requirement is that the student should have secured admission in the above listed certified top rated institute.

Amount Of Loan 

Category Maximum  Loan Limit
Parent/Guardian as co-borrower, Security not required Parent/Guardian as co-borrower, Any tangible collateral
List AA Rs. 40 lakhs
List A Rs. 20 lakhs Rs. 30 lakhs
List B Rs. 20 lakhs
List C Rs. 7.5 lakhs Rs. 30 lakhs

Interest Rates

SBI Scholar Loan Scheme

Category1 Year MCLR Spread Effective Interest Rate Reset Period
List AA ROI 8.25% 0.20% 8.45 1 year
Concession No further concessions
List A All IITs & IIMs 8.25% 0.35% 8.60% 1 year
Other Institutions 8.25% 0.50% 8.75% 1 year
Concessions No further concessions
List B All NITs 8.25% 0.50% 8.75% 1 year 
Other Institutions 8.25% 1% 9.25% 1 year
Concessions No further concessions
List C All NITs 8.25% 0.50% 8.75% 1 year
Other Institutions 8.25% 1.50% 9.75% 1 year
Concessions No further concessions

Enter Loan amount!

Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

Proceed

Enter Your Monthly Salary!

Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

Enter Your Turnover!

Minimum Turnover Should Be Rs. 3Lakhs!

Your Turnover Limit Exceeded!

Proceed
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