SBI Commercial and International Bank Ltd. Education Loan
Introduction
The acquisition of SBI Commercial and International Bank Ltd. by state Bank of India has become effective from 29th July,2011. All rates of interest apply as per the rates of interest of SBI.
Highlights
Study Abroad
Study India
Course
Post Graduation
Post Graduation
Loan Type
Term Loan
Term Loan
Loan Purpose
Loan is given for pursuing higher studies abroad.
Loan is given for pursuing higher education
Loan Amount
From Rs. 2 lacs to Rs. 15 lacs.
From Rs. 2 lacs to Rs. 15 lacs. Not exceeding Rs. 7.50 lacs for studies in India
Margin Money
20% of total cost.
20% of total cost.
Tenure
Min. - 5 Yrs.
Max. - 10 Yrs.
Min. - 0 Yrs.
Max. - 10 Yrs.
Interest Rate
Up to Rs. 4.00 Lacs : 12.25%
Above Rs. 4.00 Lacs : 13.25%.
Up to Rs. 4.00 Lacs : 12.25%
Above Rs. 4.00 Lacs : 13.25%.
Fees & charges
Fees & charges
Study Abroad
Study India
Comment on Charges
Charges: 1% of loan amount
Charges: 1% of loan amount
Security
Security
Collateral security by way of mortgage of immovable property / any other specified securities to cover 100% of loan amount
Terms & Conditions
Terms & Conditions
Maximum period 10 years including duration of course
Moratorium period not exceeding six months after completing the course or securing a job, whichever is earlier
Interest to be serviced regularly during moratorium period (MP).
After MP entire outstanding in loan account will be treated as Principal for calculating future EMI's repayable in 10 years after date of first disbursement