As you want to know about Gyan Jyoti (Education loan scheme) offer by State Bank Of Patiala here I will gather some information details for you.

Here I’m telling you some details
Loan amount
Minimum : No Limit

Maximum : Studies In India - Rs. 10.00 lacs
Studies Abroad - Rs. 20.00 lacs

However, higher quantum of loan may be considered on course to course basis.

Interest Rates

a) Interest Chargeable (In case of Floating Rate Loans)

b) Interest Chargeable (In case of Fixed Rate Loans)

a) Loans upto Rs.7.50 Lacs : 12.25% (2.75% above

MCLR i.e. 9.50%)

Loans above Rs.7.50 Lacs : 11.25% (1.75% above

MCLR i.e. 9.50%)

b) N.A

Penalty for delays
Penal interest @ 2% is charged for loans above Rs.4 lacs for the overdue amount and overdue period

Details of Security Collateral Obtained
A. For Loan upto Rs.4.00 lacs : NIL

B. For loans above RS 4.00 lacs and upto Rs 7.50 lacs : Suitable Third Party Guarantee

C. For Loans above Rs 7.50 lacs : Tangible Collateral
Security of Suitable Value


Address:-
State Bank Of Patiala
The Mall, Patiala – 147 001

Phone:-
0175-2395629.