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Categories: Education Loan

SBI Education Loan – Eligibility

SBI education loan eligibility criteria differ depending upon the type of education loan you opt for from the bank. SBI offers four types of education loans namely SBI Student Loan Scheme, SBI Scholar Loan Scheme, SBI Skill Loan Scheme and SBI Global Ed-Vantage Scheme, and the eligibility criteria and eligible courses and educational institutions for all these student loans offered by SBI vary. SBI education loan eligibility criteria include clauses such as requirement for Indian nationality, requirement for secured admission, admission to select premier institutions, admission to skill development courses is schools recognized by the Central or State education boards and admission to courses offered by foreign institutes and universities to name a few. We have compiled detailed information about SBI education loan eligibility criteria to help you understand which SBI student loan scheme fits you the best as per your specific requirement. You can also compare the eligibility criteria and eligible courses in the table ‘SBI Education Loans – Eligibility and Courses Covered’ given at the end of the article.

SBI Education Loan – Eligibility Criteria

SBI education loan eligibility criteria for all the four study loan schemes offered by the bank are detailed below. Compare your choices and choose the best fit for your education loan requirement.

1. SBI Student Loan Scheme eligibility

SBI Student Loan Scheme is a term loan given to students with Indian nationality, looking to pursue higher education in India or abroad. The key eligibility criteria to apply for the loan is that the student must have secured admission before applying for the loan.

2. SBI Scholar Loan Scheme eligibility

SBI Scholar Loan Scheme is open to students looking to pursue higher education in select premier institutions in India. Click here to check the list of approved institutions for this scheme.

3. SBI Skill Loan Scheme eligibility

As the name suggests SBI Skill Loan Scheme is a term loan given to students with Indian nationality for pursuing skill development courses in India. Schools recognized by the Central or State education boards or colleges affiliated to recognized university leading to a certificate/diploma/degree issued by such organization as per the National Skill Qualification Framework (NSQF) are eligible for this loan.

4. SBI Global Ed-Vantage Scheme eligibility

An overseas study loan, SBI Global Ed-Vantage is open for students looking to pursue full time regular courses at foreign colleges and universities.

SBI Education Loan – Eligible Courses and Institutions

SBI education loan eligible courses and institutions are spread across the country, making a wide range of students eligible to opt for one of the four SBI education loans. Given below is the detailed information about the eligible courses and educational institutions covered by SBI education loans.

1. SBI Student Loan Scheme courses

Eligible courses for studies in India:

  • Graduation, post-graduation courses together with regular technical and professional degree/diploma courses conducted by colleges and universities approved by UGC/ AICTE/IMC/Government, etc.
  • Regular degree/diploma courses conducted by self-directed institutions like IIT, IIM, etc.
  • Teacher training/nursing courses approved by the Central or the State Government
  • Regular degree/diploma courses such as aeronautical, pilot training, shipping, etc. approved by Director General of Civil Aviation/Shipping/concerned regulatory authority

Eligible courses for 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 the US, etc.

2. SBI Scholar Loan Scheme courses

Eligible courses for SBI Scholar Loan Scheme:

  • Regular full-time degree/diploma courses through entrance test/selection process
  • Full time executive management courses like PGPX

Note: Students looking to pursue certificate or part-time courses are eligible to apply.

3. SBI Skill Loan Scheme courses

Eligible courses for SBI Skill Loan Scheme:

  • Courses run by ITIs, polytechnics, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation

Note: There is no minimum course duration.

4. SBI Global Ed-Vantage Scheme courses

Eligible courses for SBI Global Ed-Vantage Scheme:

  • Regular graduate/post graduate/doctorate courses in any discipline offered by foreign institutes/universities in the US, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong and New Zealand

SBI Education Loans – Eligibility and Courses Covered

Compare between the available SBI education loans basis the information given below about the eligibility criteria to opt for the right study loan.

Loan Type SBI Student Loan Scheme SBI Scholar Loan Scheme SBI Skill Loan Scheme SBI Global Ed-Vantage Scheme
Details
Eligibility Indian nationals looking to pursue higher education in India or abroad where admission has been secured Indian National who has secured admission to professional/technical courses in select premier institutions through entrance test/selection process Indian nationals looking to pursue skill development courses in India Indian national looking to pursue full time regular courses at foreign colleges/universities
Courses Covered Studies in India:
• Graduation, PG including regular technical & 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/State Government
• Regular degree/diploma courses approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority
Studies abroad:
• Job oriented professional/technical graduation degree courses/PG degree and diploma courses like MCA, MBA, MS, etc. offered by reputed universities
• Courses conducted by CIMA – London, CPA in USA, etc.
• Regular full-time degree/diploma courses through entrance test/selection process
• Full time executive management courses such as PGPX
• No certificate/part time courses
• Training institutes/courses
• Schools recognized by Central/State Education Boards/ colleges affiliated to recognized university leading to a certificate/diploma/degree issued by such organization as per National Skill Qualification Framework (NSQF)
• Regular graduate/PG/doctorate courses in any discipline offered by foreign institutes/universities in USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong and New Zealand
Shrudi Johnson

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