SBI Student Loan

Courses Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Repayment period of up to 15 years after Course Period + 12 months of repayment holiday
No processing / upfront charges will be levied on Education loans.

Courses Covered

a. Studies in India:
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

b. 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 USA etc.

Loan Amount

  • For studies in India - maximum Rs. 10 lakh
  • Studies abroad - maximum Rs. 20 lakh
  • Higher loan limit for studies in India are considered on case-to-case basis

Particular Security
Upto Rs. 7.5 Lakh Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
Above Rs. 7.5 Lakh Parent/ Guardian as co-borrower and tangible collateral security

  • Higher loan limit for studies abroad are considered under our SBI Global Ed-Vantage Scheme.

Documents required taking education loan from SBI

  • Complete application form
  • Two passport size photographs
  • Letter of admission from the university
  • Documents on the cost of studies
  • PAN card of the candidate
  • Proof of identity (any one)
    a) Passport
    b) Driving license
    c) Voters ID card
    d) Aadhar card
  • Proof of residence
    a) Passport
    b) Driving license
    c) Voters ID card d) Electricity bill
    e) Telephone bill
  • Student/ co-borrower/ guarantor’s bank account statement for the last six months
  • Statement of assets and liabilities of student/ co-borrower/ guarantor
  • Student/ co-borrower/ guarantor’s proof of income

Security needed to take education loan from SBI
If the candidate is taking a student loan up to four lakhs, the only security needed is the parent or guardian as the co-borrower. If the loan amount is between 4 lakhs and 7.5 lakhs, the candidate must provide parent or guardian as the co-borrower and collateral security in the form of the details of the Gross Annual Income of the parent or guardian. If the candidate is applying for an education loan above 7.5 lakhs, the parent or guardian must be the co-borrower and the candidate must show tangible collateral security.


  • Repayment will commence one year after completion of course.
  • Loan to be repaid in 15 years after the commencement of repayment
  • In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course