NEWS & ADVICE : EDUCATION LOANS
State Bank of Bikaner to offer online education loans
By Neelima Shankar
Dec 20, 2012
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State Bank of India's subsidiary, State Bank of Bikaner and Jaipur (SBBJ) has planned to offer education loans to student and small and medium enterprises (SME) online.

The Associate bank of SBI intents to replicate its ‘home loan or car loan application online and get interest concession model' to student loans and small ticket SME loans (up to Rs 1 crore).

Mr. Shiva Kumar, Managing Director of SBBJ said home and car loan customers are getting accustomed to the concept of applying retail loans online. Hence, the bank intends to extend this concept to other products too.

Currently, SBBJ is offering customers online home loan at concession interest rate of 10 basis point i.e. they are offering at 10.40 per cent interest against the card rate of 10.50 per cent. And, car loan (over Rs 10 lakh) at a 25 basis point concession i.e. the customers can get loans at 10.25 per cent against card rate of 10.50 per cent.

"Online retail loans are gradually gaining traction. Home loans and auto loans are sanctioned in 20 minutes and 10 minutes, respectively. Customers can apply for loans from the comfort of their homes," said Mr. Shiva Kumar.


 


(Comments Posted : 2) Post Your Comments
1. sir i want to know which bank offers cheapest educational loan for my son who is studying ece in an engg college in bangalore.
dibyadut ray (Posted: Jun 14, 2013)
2. Sir I Have Applied for Subsidies on Education Loan but Bank told me that it will be approved by centeral govt.is it possible i am confused pls tell me right advise

Best Regards

Ramesh
RAMESH KUMAR SAINI (Posted: Jan 16, 2013)
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