Loans By State Bank Of India

Hii sir, I wants to get the Information About the Education Loan of the State bank of India ? will you please provide It ?

State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

the Details of the Education Loan of the State bank of India is given below

Loan Amount Rate of Interest
For loans upto Rs.7.5 lacs % above MCLR, currently 11.10% p.a.
Above Rs.7.50 lacs 85% above MCLR, currently 10.75% p.a.


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

List AA
0.45% above MCLR i.e., 9.35% p.a. at present (UptoRs. 30 Lacs without collateral)

List A
For IIMs: 0.45% above MCLR i.e., 9.35% p.a. at preset
Other Institutions: 0.65%above MCLR i.e., 9.55% p.a. at present (Upto Rs. 20 Lacs without collateral, upto Rs. 30 with collateral)

List B
0.95% above MCLR i.e., 9.85% 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


List C
2.00% above MCLR i.e. 10.90% p.a.(UptoRs. 7.5 Lacs without collateral, upto Rs. 30 with collateral)


For more Details you may Contact to the State bank of India Customer Care :

Customer service: 1800 425 3800

__________________
Answered By StudyChaCha Member