State Bank of India Schloar Loan

SCHOLAR LOANS

Education Loans to students securing admissions in: 
 
The country’s best engineering colleges

The nation’s elite medical colleges

India’s top B-Schools

  Eligibility
  A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
  Salient Features
 Option to avail loan at Campus or branch nearer to permanent residence

Option to transfer loan account to a branch convenient to student for repayment.

Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
  Loan amount
  Maximum loan amount upto Rs.15 lacs
  Expenses covered
 Fees payable to college/school/hostel

Purchase of books/equipments/instruments

Travel expenses/expenses on exchange programme

Purchase of computer/laptop

Any other expenses related to education

  Interest Rate  
1.5% below SBAR effective rate 11.25% p.a. (floating)
  Repayment
 Moratorium upto course duration plus six months

Flexible repayment period upto 7 years.
  Security
 No security.

Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
  Margin
 Nil upto Rs.4 lacs

5% above Rs.4 lacs

 
Documentation Required
Letter of admission

2 passport size photographs

Proof of identity (driving licence/passport/PAN/any photo identity)

Proof of residence (driving licence/passport/electricity bill/phone bill)

Statement of expenses


 For more Details  :       www.statebankofindia.com