State Bank Of India SBI provides Student Loan Scheme to Indian Nationals for pursuing higher education in India or abroad

Student Loan Scheme

Eligibility-

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured

Loan Amount-

For studies in India - maximum Rs. 10 lacs
Studies abroad - maximum Rs. 20 lacs

Courses Covered-

Studies in India:

Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc
Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
Teacher training/ Nursing courses approved by Central government or the State Government
Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority

Studies abroad:

Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities
Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.

Expenses Covered

Fees payable to college/school/hostel
Examination/Library/Laboratory fees
Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)
Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)
Travel Expenses/Passage money for studies abroad
Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc

Margin-

Upto Rs.7.5 Lacs: Nil
Above Rs. 7.5 Lacs : 5% for studies in India, 15% for studies abroad

Documents Required

Completely filled in Loan Application Form
2 passport size photographs
Statement of cost of study
Letter of admission
PAN Card of the student and Parent/ Guardian
AADHAR Card of the student and Parent/ Guardian
Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower
Student/Co-borrower/ guarantor's bank account statement for last 6 months
IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

Customer service: 1800 425 3800