Education Loan Scheme

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Education Loan Scheme

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 loan.

Education Loan PortalMean Rate of Interest (Q4 FY24): 10.41%

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%


Last Updated On : Monday, 24-06-2024

Interest Rates

8.15% p.a.*

 

*T&C Apply.

 

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