SBI Education Loan: Check Eligible Courses, Interest Rates for Student Loans

Here's everything you need to know about SBI student loans.

Higher education plays an important role in our development. However, sometimes students wanting to pursue higher studies have to face hurdles of high fee. This is where scholarships and education loans come in.

India's leading public sector bank (PSB), State Bank of India (SBI) provides education loans to students to pursue their higher studies.

SBI offers education loans to students for courses in India and abroad.

In this article, we have curated some information about SBI student loans.

For Education in India

Eligible courses:

Graduation, Post-graduation including regular technical and 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 or the State Government.

Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority.

For Education 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 USA etc.

Interest Rate

For loans upto Rs 7.5 lakhs and exceeding Rs 7.5 lakhs, an effective interest rate of 8.65 percent will be applicable.

However, as per SBI's website, 0.50 percent concession in interest will be given to girl students.

For more updates about SBI student loans, check the official website of SBI: sbi.co.in, or visit your nearest SBI branch.