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| COMPARE : EDUCATION LOANS |
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| State Bank of Patiala Education Loan |
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| Introduction |
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| State bank of Patiala offers education aspiring student to help them pursue for higher studies in India and abroad under the scheme SBP gyan jyoti education. Bank provides loan to students for graduation courses, post graduation courses, professional courses and technical courses, courses offered by National institutes and other reputed privates institutes. Bank has a facility of life insurance through SBI Life Insurance Company named ‘Shield’ for student/parents/guardian at optional basis. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
The loan is provided for
Graduation: For job oriented professional/technical courses offered by reputed universities.
Post Graduation: MCA, MBA, MS etc.
Courses conducted by CIMA (Chartered Institute of Management Accountants)-London, CPA (Certified Public Accountant) in USA etc. |
The loan is provided for
Graduation courses: B.A., B.Com. B.Sc., etc.
Post Graduation courses: Masters & Phd.
Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, and Computer etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to a university.
Courses like ICWA, CA, CFA etc.
Courses conducted by IIM, IIT, IISc , XLRI, NIFT etc.
Courses offered in India by reputed foreign universities.
Evening courses of approved institutes.
Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
Courses offered by National Institutes and other reputed private institutions. |
| Loan Amount |
Repayment:
For loans up to Rs. 7.50 lacs: upto 10 years
For loans above Rs. 7.50 lacs: upto 15 years
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Repayment:
For loans up to Rs. 7.50 lacs: up to 10 years
For loans above Rs. 7.50 lacs: up to 15 years
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| Margin Money |
Upto Rs 4 lacs: Nil
Above Rs 4 lacs: 15%
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Up to Rs.4 lacs: Nil
Above Rs.4 lacs: 5%
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| Tenure |
Min. - 5 Yrs.
Max. - 10 Yrs.
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Min. - 5 Yrs.
Max. - 10 Yrs.
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| Interest Rate |
For Loans up to Rs. 7.50 lacs: 13.00%
For Loans above Rs. 7.50 lacs: 12.00%
0.5% concession for girl students
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For Loans up to Rs. 7.50 lacs: 13%
For Loans above Rs. 7.50 lacs: 12%
50 bps concession in interest for girl child.
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
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| Comment on Charges |
for an education loan of more than 4 lacs for studies abroad students will be required to deposit a processing fee of rs 5000 |
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Security
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Security |
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Up to Rs 4lacs :No Security
Above Rs.4lacs to Rs7.50lacs:
Collateral security in the form of suitable third party guarantee.
AboveRs7.50lacs:
Tangible collateral security of suitable value, along with the assignment of
future income of the student for payment of installments. |
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Terms & Conditions
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Terms & Conditions |
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Repayment starts 1 year after course completion/ 6 months after obtaining employment (whichever earlier)
1% concession on interest be provided if full interest is paid during the moratorium period when any moratorium period is specified. |
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