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SBI Corporate Website Interest Rates Loan Schemes - Interest Rates Education Loan Scheme

EDUCATION LOAN SCHEME

Base Rate 9.85% w.e.f. 10.04.2015

EDUCATION LOANS

1) SBI STUDENT LOAN SCHEME

Loan Amount Rate of Interest*

For loans upto Rs.4 lacs 3.50% above Base Rate, currently 13.35% p.a.

Above Rs.4 lacs and upto

Rs.7.50 lacs

3.75% above Base Rate, currently 13.60% p.a.

Above Rs.7.50 lacs 1.75% above Base Rate, currently 11.60% p.a.

*(0.50% concession in interest for girl students)

(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied

during the moratorium period, including course duration#)

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

2) SBI SCHOLAR LOAN SCHEME

List of 93 institutions (list enclosed)

Related Links – List of 93 institutions

Rate of Interest:

List ROI

List AA 25 bps above Base Rate i.e., 10.10% p.a. at present

List A 25 bps above Base Rate i.e., 10.10% p.a. at present

List B For loans upto Rs. 20 lacs (No Security, only Parent/ Guardian as co-borrower): 50 bps

above Base Rate i.e., 10.35% p.a. at present

Further concessions:

25 bps – if collateral security >= the loan amount

25 bps – work experience of more than 2 years

(effective rate of interest with both concessions not to be lower than 25 bps above Base

Rate presently, 10.10% p.a.)

List C 175bps above Base rate i.e. 11.60% p.a.

1% concession for full tenure of the loan, if interest is serviced promptly as and when

applied during the moratorium period, including course duration#

Click here for List of Institution

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

3) SBI LOAN SCHEME FOR VOCATIONAL EDUCATION AND TRAINING

Rate of Interest

3.50% above Base Rate, currently 13.35% p.a.

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during

the moratorium period, including course duration#

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

ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

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