SBI Education Loan

1. SBI Student Loan Scheme

Key points

• Purpose: Loan for higher education in India & abroad. 

• Eligible Courses: UG/PG degrees, diplomas, professional courses (ICWA, CA, CFA), top institutes (IIM, IIT, NIFT, ISB); abroad: MCA, MBA, MS, Ph.D., recognized professional courses. 

• Student Eligibility: Indian nationals (NRIs included); PIO/OCI only for India. 

• Loan Amount: India : up to Rs.30 lakh at eligible institutions and up to Rs.50 lakh at institutions ranked in the NIRF top 100 (medical courses: up to Rs.50 lakh and Rs.75 lakh respectively); Abroad: up to Rs.7.5 lakh.

• Margin: No margin required up to Rs.4 lakh. For more than Rs.4 lakh: 5% margin is required for study in India and 15% for studies abroad. 

• Security: Less than Rs.7.5 lakh requires only Parent/guardian co-obligation. For more than Rs.7.5 lakh, a Co-obligation plus collateral is required. 

• Expenses Covered: Tuition, hostel, books, equipment, travel, projects, two-wheeler up to Rs.50,000. 

• Repayment: After course completion plus 1 year or 6 months after job whichever is earlier, maximum 15 years. 

• Top-up Loan: Allowed during moratorium and repayment within 15 years. 

• Processing Charges: Loans up to Rs.10 lakh: NIL; above Rs.10 lakh and up to Rs.20 lakh: Rs.5,000 plus GST; above Rs.20 lakh: 0.50% of the loan amount plus GST (maximum Rs.25,000 plus GST).

2. SBI Scholar Loan Scheme

Key Points

• Purpose: Loan for meritorious students to pursue higher education in selected premier institutes. 

• Eligible Courses: Full-time degree/diploma courses, executive management programs (PGPX), and selected part-time UG/PG courses. 

• Student Eligibility: Indian nationals (including NRIs), PIO/OCI only for studies in India, admission through entrance/selection process. 

• Loan Amount: Without security: up to Rs.50 lakh (List AA), Rs.40 lakh (List A), Rs.30 lakh (List B) and Rs.7.5 lakh (List C); with tangible collateral, need-based loans (up to Rs.1 crore for List C).

• Margin: No margin is required, as the scheme offers 100% financing.

• Expenses Covered: Tuition & hostel fees, books, equipment, deposits, travel, laptop, and other education-related expenses. 

• Repayment: Course period plus 1 year moratorium; repayment up to 15 years. 

• Top-up Loan: Allowed for further studies within overall loan limits. 

• Processing Charges: NIL 

3. SBI Skill Loan Scheme 

Note: The interest rates are effective from 09 June 2026.

Key Points

1. Purpose: Loan for skill development courses to improve employment. 
2. Eligible Courses: Courses offered by ITIs, Polytechnics, NSDC/Skill Councils, State Skill Missions, and recognized schools/colleges under NSQF.
3. Loan Amount: Rs.5,000 to Rs.7.50 lakh.
4. Margin and Processing fee: NIL
5. Security: No collateral; only parent/guardian co-obligation; no third-party guarantor.
6. Expenses Covered: Course fee, exam/library/lab fees, caution deposit, books, equipment, and other related expenses.
7. Repayment: Loan amount of Rs.50,000 (up to 3 years), loan amount between Rs.50,000 and Rs.1 lakh (5 years), and Loan amount more than Rs.1 lakh (7 years).
8. Moratorium: 6 months after course completion (if course is up to 1 year) and 12 months after completion (if course is more than 1 year).
   

4. SBI Global Ed-Vantage Scheme

Note: The interest rates are effective from 09 June 2026. 

Note: The interest rates are effective from 09 June 2026. 

Key Points

1. Purpose: Loan for meritorious students to pursue full-time courses in foreign universities.
2. Eligible Courses: UG/PG/Doctorate degrees, diplomas, and certificate courses in countries like USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong, New Zealand and the UAE.
3. Student Eligibility: Indian nationals (including NRIs) with confirmed admission in a foreign university.
4. Loan Amount: Above Rs.7.50 lakh and up to Rs.3 crore.
5. Margin: 10% (scholarship/assistantship included).
6. Security: Parent/guardian as co-borrower plus tangible collateral security; third-party collateral also accepted.  
7. Expenses Covered: Tuition, hostel, travel, books, equipment, deposits, insurance premium, and other study-related expenses.
8. Repayment: Up to 15 years after course completion + moratorium.  
9. Moratorium: Course period + 6 months after completion. 
10. Processing Charges: 0.50% of the loan amount (minimum Rs.10,000 and maximum Rs.50,000) plus GST.
    

5. Shaurya Education Loan (For spouses or wards of Defence, Indian Coast Guard & Central Armed Police Personnel)

Note: The interest rates are effective from 09 June 2026. 

Key Points

1. Purpose: Loan for wards of DSP/ICGSP officers for studies in India & abroad. 
2. Eligible Courses: UG/PG/Doctorate, professional courses (ICWA, CA, CFA), top institutes (IIM, IIT, ISB), aviation, pilot, nursing, and recognized courses abroad (MCA, MBA, MS, CIMA, CPA).
3.  Student Eligibility: Wards of DSP/ICGSP officers; co-borrower must be Diamond/Platinum SBI account holder.
4. Loan Amount: For studying in India, as per the SBI Student Loan Scheme limits; for studying abroad, as per the SBI Global Ed-Vantage Scheme limits.
5. Margin: Up to Rs.4 lakh: NIL; Above Rs.4 lakh: 5%. 
6. Security: No collateral required up to Rs.7.5 lakh. If the loan amount is more than that, parent/guardian co-borrower with liquid/property collateral (100–110% of loan) is required. Also, EM must be created within six months. 
7. Expenses Covered: Tuition, hostel, books, instruments, computers, uniforms, travel, study tours, insurance, two-wheeler (up to Rs.50,000 with collateral).
8. Processing Charges: Up to Rs.20 lakh: NIL; Above Rs.20 lakh: Rs.10,000 + GST.
   
9. Moratorium: Course period + 1 year, or 6 months after job (whichever is earlier). 
10. Repayment Period: Up to 15 years after course & moratorium. 
11. Top-up Loan: You can take a second loan for further studies during the moratorium, and repayment can be delayed and combined until after the second course is completed. 

Takeover of Education Loans: You can switch an existing education loan of Rs.10 lakh to Rs.3 crore from another lender to SBI, with no processing fee and repayment of up to 15 years. A top-up loan is also available for further studies. 

SBI PM-Vidyalaxmi Scheme

Note: The interest rates are effective from 09 June 2026.

Key Points

• Purpose: Financial support for meritorious students in top institutes (India). 

• Key Features: Collateral-free, guarantor-free loan with digital application process. 

• Loan Amount: Maximum Rs.3 crore. 

• Eligible Courses: UG/PG degree and diploma courses in selected top institutes in India. 

• Margin: Up to Rs.4 lakh: NIL; between Rs.4.00 lakh to Rs.7.5 lakh: 5%; above Rs.7.5 lakh: NIL. 

• Moratorium: Course period + 1 year. 

• Tenure: 15 years excluding course period and moratorium under the scheme. 

• Application Process: Apply through PM-Vidyalaxmi portal. 

• Co-borrower: Not required up to Rs.75 lakh but mandatory for minors. 
• Interest Subvention: For technical or professional courses, students with annual family income up to Rs.4.50 lakh get 100% interest subvention under PM-USP CSIS, and students with family income above Rs.4.50 lakh and up to Rs.8 lakh get 3% interest subvention under PM-Vidyalaxmi. For other courses, 3% interest subvention applies to family income up to Rs.8 lakh. 

Documents Required for SBI Education Loan

The following is the list of documents required to avail State Bank of India (SBI) Education Loan:

SBI Education Loan EMI Calculator

You may better plan your costs and manage your student finances if you know exactly how much your Equated Monthly Instalment (EMI) on your SBI education loan will be. Get a full amortisation table with the breakdown of your EMIs by using the  Education Loan EMI Calculator.

Here are the steps on how to use it: 

1. Enter the loan amount you wish to borrow.
2.  Select the loan tenure (repayment period).
3. Enter the applicable interest rate offered by SBI. 
4. Add the processing fee, if applicable. 
5. Enter any planned prepayment amount (optional). 
6. Click on the "Calculate" button. 
7. View your monthly EMI, total interest payable, total repayment amount, and amortization schedule. 

How to Apply for an SBI Education Loan (Online & Offline)

You can apply for an SBI education loan either online or offline

Offline: 

Step 1: Walk into your nearest SBI branch with all the necessary documents. 

Step 2: Fill in and submit the application form that you can obtain from there. 

Online: 

Step 1: Visit the SBI official website. 

Step 2: Navigate to the section on Education Loan. 

Step 3: Choose your preferred loan option. 

Step 4: Click on 'Apply Now'. 

Step 5: You will be redirected to the PM-Vidyalaxmi website.

Step 6: Register yourself by entering all your details. 

Step 7: Finally apply for the loan. 

Step 8: A bank representative will get in touch with you. 

SBI Scholar Loans: Available in select campuses or mapped branches. 

Summary

SBI education loans cover study in India and abroad through the Student Loan, Scholar Loan, Skill Loan, Global Ed-Vantage, Shaurya and PM-Vidyalaxmi schemes, each with its own interest rate, margin and security terms listed above. Repayment generally starts after the course and moratorium, and there is no prepayment penalty. You can apply online through the PM-Vidyalaxmi portal or offline at your nearest SBI branch. 

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