🎓 Scholarship Alerts 🔔

List of All Latest Scholarships You Can Apply For

Apply New Scholarship
Categories: Education Loan

SBI Education Loan Interest Rates

SBI education loan interest rates vary with each student loan offered by the bank. Education loan interest rate depends on various factors such as the lender, secured or unsecured loan, the repayment capacity of the applicant, applicant’s credit score, and the university and the course the applicant has taken admission to. To know more about the kind of security required for SBI Education Loans, click here. In comparison to other competitors, SBI’s education loan interest rates are lower, making it a preferred choice among many students in the country. The interest paid for a study loan comes Section 80E, giving income tax benefits to the applicant that he/she can claim further bringing down the effective interest rate.

SBI education loan interest rates range between 8.65% to 10.70% depending upon the education loan and the loan amount you opt for. The bank also offers concessions for girl students and to students availing SBI Rinn Raksha or any other existing policy assigned in favour of SBI, as per the selected SBI education loan.

SBI Education Loan Interest Rate

We have compiled the details of SBI education loan interest rates for all four education loans offered by the bank – SBI Student Loan Scheme, SBI Scholar Loan Scheme, SBI Skill Loan Scheme and SBI Global Ed-Vantage Scheme. You can also compare the interest rates in the table ‘SBI Education Loans – Interest Rates and Loan Amount’ given at the end of the article.

SBI Student Loan Scheme interest rates

Under the SBI Student Loan Scheme, 10.45% interest rate is offered for up to INR 7.5 lacs with 0.50% concession for girl students, while 10.70% interest rate is offered for above INR 7.5 lacs with 0.50% concession for girl students and 0.50% concession for students availing SBI Rinn Raksha or any other existing policy assigned in favour of SBI.

SBI Scholar Loan Scheme interest rates

Under the SBI Scholar Loan Scheme, 8.65% interest rate is offered for list AA institutions, up to 8.95% interest rate for list A institutions, up to 9.45% interest rate for list B institutions and up to 9.95% interest rate for list C institutions.

SBI Skill Loan Scheme interest rate

Under the SBI Skill Loan Scheme, 9.95% interest rate is offered for loan amount up to INR 1.5 Lacs.

SBI Global Ed-Vantage Scheme interest rates

Under the SBI Global Ed-Vantage Scheme, 10.70% interest rate is offered for loan amount above INR 20 lacs and up to INR 1.5 Cr with 0.50% concession for girl students and 0.50% concession for students availing SBI Rinn Raksha or any other existing life insurance policy assigned in favour SBI.

SBI education loan interest rates also depend upon the amount of loan you are being sanctioned.

SBI Student Loan Scheme offers a maximum of INR 10 lacs for studies in India and a maximum of INR 20 lacs for students opting to study abroad. Higher loan limit for students opting to study in India is considered on a case-to-case basis, while higher loan limit for students opting to study abroad is considered under the SBI Global Ed-Vantage Scheme.

A minimum loan amount of INR 7.5 lacs and a maximum of INR 40 lacs is offered under SBI Scholar Loan scheme depending upon the type of institution the student is opting for.

SBI Skill Loan Scheme offers a minimum loan amount of INR 5,000 and a maximum loan amount of INR 1,50,000.

SBI Global Ed-Vantage Scheme offers a minimum loan amount of INR 20 lacs and a maximum loan amount of INR 1.5 Cr. You can also compare the loan amount in the table ‘SBI Education Loans – Interest Rates and Loan Amount’ given below.

SBI Education Loans – Interest Rates and Loan Amount

Loan Type SBI Student Loan Scheme SBI Scholar Loan Scheme SBI Skill Loan Scheme SBI Global Ed-Vantage Scheme
Details
Loan Amount • For studies in India – maximum INR 10 Lacs
• Studies abroad – maximum INR 20 Lacs
• List AA: INR 40 Lacs
• List A: INR 20 lacs/INR 30 Lacs• List B: INR 20 Lacs
• List C: INR 7.5 Lacs
• Minimum loan amount: INR 5,000

• Maximum loan amount: INR 1,50,000

• Minimum loan amount: INR 20 Lacs

• Maximum loan amount: INR 1.5 Cr

Rate of Interest • Up to INR 7.5 lacs: 10.45% (0.50% concession in interest for girl students)
• Above INR 7.5 lacs: 10.70% (0.50% concession in interest for girl students, 0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank)
• List AA: 8.65%
• List A: 8.80% (All IIMs & IITs), 8.95% (Other institutes)
• List B: 8.95% (All NITs), 9.45% (Other institutes)
• List C: 8.95% (All NITs), 9.95% (Other institutes)
• Up to INR 1.5 lacs: 9.95% • Above INR 20 lacs and up to INR 1.5 Cr: 10.70% (0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank, 0.50% concession for girl students)
Shrudi Johnson

Recent Posts

Digital Gujarat Scholarship 2021 – Last Date, Gujarat Scholarship Portal, Eligibility

Digital Gujarat scholarships – Run by the Government of Gujarat and its subsidiary departments, Gujarat…

1 day ago

NSP Scholarships Expiring in 2 Days. Know More

NSP scholarships for Post-Matric students are among the most popular scholarships in India. The scholarships…

4 days ago

UP students to get scholarship money from Jan 26 – UP CM Yogi Adityanath to inaugurate disbursement process

Lucknow, January 15, 2021: Students of Uttar Pradesh will start getting scholarship money from January…

1 week ago

Scholarship of Rs 35,000 for Class 10 passed students – Merck India Charitable Trust (MICT) Scholarship Program

Is there a financial problem that is stopping you to pursue your education after Class…

1 week ago

Top Government Scholarships with Deadline Approaching – Know How to Apply?

The last date to apply for different central sector scholarships for academic year 2020-21 on…

1 week ago

Government Scholarships in India 2020-21 – Complete List

Government Scholarships – With an objective to make education accessible for all, the government of…

1 week ago