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With effect from 20.12.2013
CAR LOANS
EDUCATION LOAN SCHEME
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SBI CAREER LOAN



EDUCATION LOAN SCHEME

Base Rate 10.00 % w.e.f. 07.11.2013

 

EDUCATION LOANS

 

SBI Student Loan Scheme 

Loan Amount

 Rate of Interest*

For loans upto Rs.4 lacs

3.50% above Base Rate, currently 13.50% p.a.

Above Rs.4 lacs and upto Rs.7.50 lacs

3.75% above Base Rate, currently 13.75% p.a.

Above Rs.7.50 lacs

1.75% above Base Rate, currently 11.75% p.a.

 *(0.50% concession in interest for girl students)

* (1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#)

 SBI Scholar Loan Scheme

 

ROI

List A

100bps above base rate i.e., 11.00% p.a. at present

Further concessions:

·      25 bps - work experience of more than 2 years

·      50 bps - with parent/ spouse/ guardian as co-borrowers

·      75 bps - collateral security >= the loan amount

 

(effective rate of interest with all 3 concessions above not to be lower than 25 bps above base rate, presently 10.25 % p.a.)

List B

175bps above Base rate i.e. 11.75% p.a.

 

·      1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#

 

IT exemption under Section 80(E) in respect of interest paid in all Education Loans

  

SBI Loan Scheme for Vocational Education and Training      

3.50% above Base Rate, currently 13.50% p.a.

·   1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration#

# Note: 1% interest concession for servicing interest is available if interest is serviced promptly soon after application but not later than the following month.

ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.




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