What is the maximum repayment period for education loan above 15 Lacs?

The repayment period is generally between 5 and 7 years, but can be extended beyond that as well. During the course period, the bank charges simple interest rate on the loan.

How is SBI student loan disbursed?

The disbursement letter has to be signed before disbursal. Actual Disbursement – In the very last step of the education loan disbursement process, SBI pays the tuition fee by transferring the money directly to the university’s account. If the student chose on-campus housing, then that is sent too.

What is the interest rate of SBI education loan?

SBI Education Loan – Interest Rate SBI education loan interest rates are known to be one of the most viable in the market with interest rates as low as 8.65\% and special concession for girl students. Given below are the loan amounts and security required for each type of SBI education loan: 1.

Which banks in India offer a moratorium on the education loan?

State Bank of India offers a moratorium period of up to 6 months to begin the repayment of the education loan. Women borrowers and SBI Life Rinn Raksha scheme holders can also get a concession of 0.50\% on the interest rate for the SBI Global Ed-Vantage education loan.

What is the interest rate concession for SBI Rinn Raksha for students?

An interest rate concession of 0.50\% is available for students who buy the SBI Rinn Raksha or other life insurance policy from the bank. This is available for those students who are applying for the SBI Student Loan Scheme and SBI Global Ed-Vantage Scheme.

What is the SBI scholar loan scheme?

SBI Scholar Loan Scheme is open to students looking to pursue higher education in select premier institutions in India. You can check the list of approved institutions in the table ‘SBI Scholar Loan Scheme – List of Approved Institutions’ given at the end of the article.