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  #2  
March 14th, 2017, 01:10 PM
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Re: Interest Rate of State Bank of India

Can you tell me about the interest rates for Student Loan in SBI (State Bank of India) as I want to apply for it for studies of my children?
  #3  
March 14th, 2017, 01:11 PM
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Join Date: Mar 2012
Re: Interest Rate of State Bank of India

SBI (State Bank of India) Student Loan scheme is offered to Indian nations for pursuing higher studies in India or at a foreign institution.

SBI Scholar Loan scheme is offered to students who have secured admissions in premier Indian institutions. A separate loan scheme is offered for pursuing vocational education and training in India.

A maximum of Rs.10 lakhs is offered for studies in India. For studies abroad, a maximum of Rs.30 lakhs is offered as loan.

Interest Rates:

Loan Amount Rate of Interest
Up to Rs.4 lakhs 3.50% above base rate
Above Rs.4 lakhs and up to Rs.7.5 lakhs 3.75% above base rate
Above Rs.7.50 lakhs 1.75% above base rate

The base rate is fixed at 9.85%. Do make an enquiry with the bank about the prevailing base rates.

A concession of 0.50% is provided for girl students and a 1% concession is offered for full tenure of loan, if the interest is serviced promptly during moratorium and course period.

SBI Scholar Loan scheme

Type of Institution Interest Rate per annum
List AA 25 bps above base rate (10.10% at present)
List A 25 bps above base rate (10.10% at present)
List B For unsecured loan up to Rs.20 lakhs, 50 bps above base rate (10.35% at present)
List C 175 bps above base rate (11.60% at present)

For list B institutions, the interest rate is 25 bps if the collateral security provided is equal to or greater than the loan amount or if one’s work experience is greater than 2 years.

SBI Loan for Vocational Education and Training
The rate of interest is fixed at 3.50% above the base rate of 9.85%

Processing Fee:
No processing fee is charged for SBI education loans.

Repayment Tenure:

Maximum Loan Amount Repayment Period


Up to Rs.4 lakhs Up to 10 years
Above Rs.4 lakhs to up to Rs.7.5 lakhs Up to 10 years
Above Rs.7.5 lakhs Up to 12 years


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