Repayment -Know how to Repay Education Loan Online in India | SBI - Personal Banking

Plan To Repay

• In case of SBI Student loans, repayment will start after the completion of course period and moratorium period (Repayment commences one year after the course completion or 6 months after securing a job, whichever is earlier).
• The Loans are sanctioned as Term Loans and to be repaid in EMIs over a maximum repayment term of 15 years (180 EMIs) for Student, Scholar and Global Ed-vantage Education Loans. The repayment of EMI starts 12 months after the completion of the course or 6 months after getting the employment, whichever is earlier for Student and Scholar Loan Schemes. In case of Global Ed-Vantage Loans, repayment of EMI starts 6 months after the completion of the course.
• The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).
• If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.
• There are NO penalty charges for prepayment. You can prepay your education loan anytime.