State Bank of Mysore Gnanamitra Education Loan Scheme extends financial assistance to deserving students, who wish to pursue higher studies in India or abroad. The loan is provided to finance tuition and other fees, deposits, maintenance charges, purchase of books and equipment, travel expenses for studies abroad, etc.

Eligible courses - India/Abroad:

Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university.


Interest Rates:

For loans up to Rs. 4.00 Lacs - 11.50%
Loans ranging from Rs. 4.00 Lacs up to Rs.10.00 Lacs – 12.50%
Loans above Rs.10.00 Lacs - 13.00%

Maximum Loan Limit:

Maximum loan limit is given as follows, depending on whether the student wishes to pursue his/her studies in India or abroad.
Maximum loan limit is Rs.10.00 lacs for studies in India; and
Maximum loan limit is Rs.20.00 lacs for pursuing education abroad.

Maximum Amount of Loan

Studies Abroad : Maximum Rs. 20.00 Lac.
Studies in India : Maximum Rs. 10.00 Lac

Security :

Upto Rs. 4.00 lacs - NIL
Above Rs. 4.00 lacs and upto Rs. 7.50 lacs - Collateral in the form of a suitable 3rd party guarantee
Above Rs. 7.50 lacs and upto Rs. 10.00 lacs - Collateral security by way of immovable property or equal to the loan amount in the form of Government securities / NSCs / Units of UTI

Documentation Required:

Completed Education loan application form
Mark sheets of last qualifying examination
Proof of admission scholarship, studentship, etc
Schedule of expenses for the specified course
2 passport size photographs
Borrower’s Bank account statement for the last six months
Income tax assessment order, of last 2 years
Brief statement of assets and liabilities, of the co-borrower
Proof of Income (i.e. Salary slips/ Form 16, etc. )


Contact Your Nearest Branch of State Bank of Mysore

Contact Details :

Chief Manager
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901extn.380
Fax: 91 80 22283684
Email: cmpsb@sbm.co.in