SBI Education Loan Interest Rates in 2022

All the major banks of the country give education loans for studies in the country or abroad. In this article, we will know what is the interest rates of SBI education loans? As you know Sbi bank is the largest country’s government bank. Education loan interest rates of other banks also remain around the same. Private banks have a little more.

Note: In this article, we have mentioned the interest rates applicable during FY 2021 -22 in respect of Education loans. For information on current interest rates, you should take the help of the website of the concerned bank.

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SBI education loan interest rates

Everyone wants to get a good education and do a good job or business. But in today’s era of inflation, higher education has also become expensive. It is not a matter of everyone being able to afford the fees of big and good colleges or institutions. In such a situation, an education loan comes in handy. With the help of education loans, it has become easy to get higher education not only in the country but also abroad. Let us tell you in detail about this education loan.

The country’s largest government bank SBI has come up with a special offer for SBI student loans. If you are also planning to study abroad, then now you can easily fulfill this dream of yours. The bank provides loan facilities to the students to study abroad. The bank is giving the facility of returning the loan money to the customers for 15 years through an Education Loan. Along with this, 12 months payment discount is also being offered.

Sbi Student Loan Schemes

SBI education loan interest rates vary according to the category of education and schemes. SBI operates a total of 5 types of education loan schemes in India.

Education loan facility is available in every bank. In this report, we have told about the education loan of SBI…

SBI Student Loan Scheme
Sbi Scholar Loan Scheme
Sbi Skill Loan Scheme
Sbi Global Ed-vantage Scheme
Sbi Takeover Of Collateralised Education Loans Scheme

Also Read: How to get an Educational Loan in India? | Easy Steps

Also Read: Which bank is best for an education loan? | Things to Know

1. SBI Student Loan Scheme

This education loan is available for higher education anywhere in India or abroad. At present, its interest rates are as follows.

Loans up to Rs. 20 lacs
Repayment period of up to 15 years.
Processing Fees:
- Loans upto Rs. 20 lacs : NIL
- Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)

Loan Limit	EBLR	Spread	Effective Interest Rate	Rate Type
Upto Rs 7.5 Lacs	6.65%	2.00%	8.65%	Floating
Concession	0.50% concession in interest for girl students
Above Rs 7.5 Lacs	6.65%	2.00%	8.65%	Floating
Concession	0.50% concession in interest for girl students
Concession	0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favor of our Bank

2. Sbi Scholar Loan Scheme

SBI offers this loan for technical and professional courses in selected 105 premier institutes (IITs, IIMs, NITs, and other similar level institutions) in the country. Under this scheme, education loans up to 40 lakhs can be availed. At present, its interest rates are as follows.

Loans up to Rs. 40 lacs
Repayment period of up to 15 years.
Processing Fees: Nill.

List		EBLR	Spread	Effective Interest Rate	Rate Type
AA	ROI	6.65%	0.20%	6.85% (With co-borrower)	Floating
AA	ROI	6.65%	0.30%	6.95% (Without co-borrower)	Floating
A	All IIMs & IITs	6.65%	0.35%	7.00%	Floating
A	Other institutes	6.65%	0.50%	7.15%	Floating
B	All NITs	6.65%	0.50%	7.15%	Floating
B	Other institutes	6.65%	1.00%	7.65%	Floating
C	All NITs	6.65%	0.50%	7.15%	Floating
C	Other institutes	6.65%	1.50%	8.15%	Floating

3. Sbi Skill Loan Scheme

Under the Sbi Skill Loan Scheme, you can take a loan to improve your skills or to do any professional course. For this, a maximum loan of up to Rs 1.5 lakh can be taken. At present, its interest rate is as follows.

Minimum Loan Amount: Rs. 5000
Maximum loan amount: Rs. 1,50,000.
Repayment Tenure
- Loans up to Rs 50,000 : Upto 3 years
- Loans between Rs 50,000 to Rs 1 lakh upto 5 years
- Loans above Rs. 1 lakh : Upto 7 years

Loan Limit	EBLR	Spread	Effective Interest Rate	Rate Type
Upto Rs 1.5 Lacs	6.65%	1.50%	8.15%	Floating
Concession	No Further Concession

4. Sbi Global Ed-vantage Scheme

SBI gives this loan for pursuing full-time regular courses in any foreign institute (Colleges/Universities). This education loan can be availed from 20 lakhs to 1.5 crores. At present its interest rate is.

Minimum Loan Amount: Above Rs. 7.50 Lacs
Maximum Loan Amount: Rs. 1.5 Cr
Processing Fees: Rs. 10,000/- per application.
Repayment period of up to 15 years.

Loan Limit	EBLR	Spread	Effective Interest Rate	Rate Type
Above Rs. 7.50 lacs & Upto Rs 1.5 Cr	6.65%	2.00%	8.65%	Floating
Concession	0.50% concession for students availing of SBI Rinn Raksha or any other existing life policy assigned in favour of our Bank
Further Concession	0.50% concession for girl students

5. Sbi Takeover Of Collateralised Education Loans Scheme

You can transfer the expensive education loan already taken from any bank or financial institution to SBI. This loan can range from Rs 10 lakh to Rs 1.5 crore. At present, its interest rate is as follows.

Minimum Loan Amount: Above Rs. 10 Lacs
Maximum Loan Amount: Rs. 1.5 Cr
Processing Fees: Nill.
Repayment period of up to 15 years.

Loan Limit	EBLR	Spread	Effective Interest Rate	Rate Type
Above Rs 10 lacs & Upto Rs 1.5 Cr	6.65%	2.00%	8.65%	Floating
Concession	0.50% concession for girl students