EDUCATION LOAN SCHEMES - RATE OF INTEREST (w.e.f. 01.05.2024)
The interest rates are linked to External Benchmark rate* (EBR) and will be floating for the entire period of loans.
| SBI STUDENT LOAN SCHEME | ||||
|---|---|---|---|---|
| Loan Limit | EBR | CRP | Effective Interest Rate | Rate Type |
| Upto Rs 7.5 Lakhs | 9.15% | 2.00% | 11.15% | Floating |
| Concession | 0.50% concession in interest for girl students | |||
| Above Rs 7.5 Lacs | 9.15% | 2.00% | 11.15% | Floating |
| Concession | 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 | ||||
|
SBI SCHOLAR LOAN SCHEME (Including TAKEOVER and PART-TIME COURSES for select institutes)   |
||||||
|---|---|---|---|---|---|---|
| List | EBR | CRP | Business Strategy Premium/ Discount | Effective Interest Rate | Rate Type | |
| AA | IITs | 9.15% | 0.00% | (-) 1.05% to (-) 1.00% | Starting 8.10% (With or without co-borrower) |
Floating |
| Other institutes | 9.15% | 0.05% | (-) 1.15% to (-) 1.05% | Starting 8.05% (With or without co-borrower) |
Floating | |
| A | IITs | 9.15% | 0.00% | (-) 1.00% | 8.15% | Floating |
| Other institutes | 9.15% | 0.50% | (-) 1.00% | 8.65% | Floating | |
| B | All NITs | 9.15% | 0.50% | (-) 1.00% | 8.65% | Floating |
| Other institutes | 9.15% | 1.00% | (-) 1.00% | 9.15% | Floating | |
| C | All NITs | 9.15% | 0.50% | (-) 1.00% | 8.65% | Floating |
| Other institutes | 9.15% | 1.50% | (-) 1.00% | 9.65% | Floating | |
| SBI SKILL LOAN SCHEME | ||||
|---|---|---|---|---|
| Loan Limit | EBR | CRP | Effective Interest Rate | Rate Type |
| Upto Rs 1.5 Lakhs | 9.15% | 1.50% | 10.65% | Floating |
| Concession | No Further Concession | |||
| SBI GLOBAL ED-VANTAGE SCHEME | ||||
|---|---|---|---|---|
| Loan Limit | EBR | CRP | Effective Interest Rate | Rate Type |
| Above Rs. 7.50 lakhs & Upto Rs 1.5 Cr | 9.15% | 2.00% | 11.15% | Floating |
| Concession | 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank | |||
| Further Concession | 0.50% concession for girl students | |||
| SBI TAKEOVER EDUCATION LOANS SCHEME (Under Student Loan & Global Ed-Vantage Scheme) |
||||
|---|---|---|---|---|
| Loan Limit | EBR | CRP | Effective Interest Rate | Rate Type |
| Above Rs 10 lakhs & Upto Rs 1.5 Cr | 9.15% | 2.00% | 11.15% | Floating |
| Concession | 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank | |||
| Further Concession | 0.50% concession for girl students | |||
| SHAURYA EDUCATION LOAN (For spouse/wards of Defence, Indian Coast Guard & Central Armed Police Personnel) |
||||
|---|---|---|---|---|
| Loan Limit | EBR | CRP | Effective Interest Rate | Rate Type |
| Upto 7.50 lakhs | 9.15% | 2.00% | 11.15% | Floating |
| Concession | 0.50% concession in interest for girl students | |||
| Above Rs. 7.50 Lakhs & Upto Rs. 1.50 Cr | ||||
| In case of Secured Loan | 9.15% | 2.00% | 11.15% | Floating |
| In case of Unsecured Loan | 9.15% | 2.60% | 11.75% | Floating |
| Concession | 0.50% concession for girl students | |||
| 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank | ||||
*EBR = Repo Rate + Spread,
Currently: Repo rate = 6.50%
Spread = 2.65%
EBR = 9.15%
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Jennifer Winget
As a passionate news reporter, I am fueled by an insatiable curiosity and an unwavering commitment to truth. With a keen eye for detail and a relentless pursuit of stories, I strive to deliver timely and accurate information that empowers and engages readers.
