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Education Loan For Abroad Studies- Bank Interest Rates & Other Details

Education Loan For Abroad Studies

State Bank of India has introduced a scheme for Indian Nationals who wish to pursue higher education in India or abroad. The Scheme is aimed to grant Education loan for abroad studies to candidates for securing admissions. If you are one of them, then you must acquire the significant information of Bank Interest Rates & Other Details which are well provided in below section of this page.

Education Loans for Students in India

SBI Loan Schemes for Abroad Education

For Student:

Loan AmountRate of Interest
Upto Rs.4 lacs3.65% exceeding Base Rate, at present 13.35% p.a.
More than Rs.4 lacs and upto Rs.7.50 lacs3.90% exceeding Base Rate, at present 13.60% p.a.
More than Rs.7.50 lacs1.90% exceeding Base Rate, at present 11.60% p.a.
  •  0.50% concession in interest will be offered to girl students
  • 1% concession for full possession of loan, if interest is worked promptly as and when applied for the duration of moratorium period, with course duration
  • IT exclusion under Section 80(E) in reverence of interest remitted in all Education Loans

Study Abroad After 10th/12th, Graduation, Diploma, Programs

For Scholar:

Education Loans for candidates securing admission in IITs, IIMs, NITs, AIIMS and other leading institutes.

Rate of Interest:

ListRate of Interest
List AA25 bps over Base Rate that is 9.95% p.a. currently (Upto Rs. 30 Lacs with no collateral)
List A25 bps over Base Rate that is 9.95% p.a. currently (Upto Rs. 20 Lacs  with no collateral, upto Rs. 30 with collateral)
List B50 bps over Base Rate that is 10.20% p.a. currently (Upto Rs. 20 Lacs with no collateral)

Additional concessions:

  • 25 bps – if collateral security is greater than or equal to loan amount
  • 25 bps – work experience of above 2 years

(effective rate of interest with both concessions not less than 25 bps above Base Rate currently, 9.95% p.a.)

List C175 bps over Base rate that is 11.45% p.a. (Upto Rs. 7.5 Lacs with no collateral, upto Rs. 30 with collateral)
1% concession for full possession of loan, if interest is worked promptly as and when applied for the duration of moratorium period with course duration

IT exclusion under Section 80(E) with regard to interest paid in all Education Loans

Best Study Abroad Consultants

For Vocational Education and Training:

Rate of Interest:

  • 3.65% over Base Rate, presently 13.35% p.a.
  • 1% concession for full possession of the loan, if interest is worked promptly as and when applied for the duration of moratorium period as well as course duration
  • IT exclusion under Section 80(E) with regard to interest paid in all Education Loans

Note: 1% interest concession for granting interest is offered if interest is worked promptly shortly after Application but not afterward the next month.

Under this Scheme, SBI is providing an education loan to fulfill the dream of candidates who wish to study abroad to get higher technical education for courses of Graduation, Post Graduation and Diploma offered by reputed universities.

For studying abroad, the highest amount of loan that can be granted is Rs. 30 lacs and the repayment will begin one year after accomplishment of course or 6 months after getting a job, whichever is before. The repayment phase ranges from up to 10 years to up to 12 years according to the loan amount.

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