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 < /FONT>
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
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