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Old April 5th, 2016, 03:15 PM
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Join Date: Nov 2011
Default Re: Study Loan for Abroad SBI

State Bank of India offers education loan for all eligible courses graduation courses, PG courses, Professional courses below I am providing you details of this Loan Scheme:

Documents Required
-Admission letter | Application form | 2 passport size photographs
-Cost of study with full statement
-Parents and student Pan card / Aadhar card
-Proof of identity | Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
-Last 6 months bank statement of Student/Co-borrower/ guarantor’s
-Last 2 years IT return/ IT assessment order 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

Interest Rates
Loan Amount Rate of Interest
For loans upto Rs.4 lacs 11.30% p.a.
Above Rs.4 lacs and upto Rs.7.50 lacs 11.30% p.a.
Above Rs.7.50 lacs 11.00% p.a.

Expenses considered for loan
-Fees payable to college/school/hostel
-Examination/ Library/ Laboratory fees
-Purchase of books/equipments/instruments (maximum 20% of the total tuition fees payable for completion of the course)
-Travel Expenses/Passage money for studies abroad
-Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)
-Any other expenses required to complete the course like study tours, project work etc
-Cost of a Two-wheeler upto Rs. 50,000/-

Repayment Tenure
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Place of Study Loan Amount Repayment Period in Years
Studies in India Rs. 10.0 lacs 1-15 Years
Studies Abroad Rs. 30.0 lacs 1-15 Years
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