State Bank of India

What to know

• Scholar Loan for select institutes is published at 6.90%–7.65%.
• Student Loan is 9.90% up to ₹7.5 lakh without collateral, and 9.40% above that with collateral.
• Global Ed-Vantage is 8.90% with collateral, up to ₹3 crore, and 9.40% without collateral up to ₹50 lakh at select institutes.
• Girl students get 0.50% on the Student Loan and Shaurya schemes.

Terms

Interest

6.90%–9.90%

Maximum

₹3 crore secured on Global Ed-Vantage

Without collateral

₹7.5 lakh on Student Loan. Scholar Loan and select Global files go higher.

Tenure

Up to 15 years after the moratorium

Processing fee

Nil on the standard Student Loan for studies in India.

Margin

Nil up to ₹4 lakh. Above that, usually 5% for studies in India and 15% for studies abroad.

Moratorium

Course period plus up to 12 months

Girl student

Many public-sector schemes give girl students 0.50%. Confirm it is written on the sanction.

Typical speed

About 2–4 weeks

Covers

India and abroad

Eligibility

• Indian national with a confirmed admission.
• Co-applicant, usually a parent, with a stable income.
• Scholar Loan and PM-Vidyalaxmi need the institute to be on that list.

Documents

• Admission letter or college allotment, plus the fee structure.
• KYC for the student and co-applicant: PAN, Aadhaar, and passport-size photographs.
• Academic records: Class 10, Class 12, and degree marksheets.
• Co-applicant income proof: salary slips or ITR, and six months of bank statements.
• Collateral papers only when the loan is above the unsecured limit.