SBI Education Loan

1. SBI EDUCATION LOAN

2. What is an Education loan? • Education loans are provided by financial institutions for academic endeavours • It provides you with the golden opportunity to fulfil your academic dreams regardless of your financial background • With an education loan you can secure an admission in your dream college or even pursue your education abroad • Apart from the tuition fee, an education loan covers almost all expenses involved in pursuing higher education

3. Benefits • An education loan can be utilised to claim tax deductions under the Section 80 E of the Income Tax Act • These loans can be paid off easily once you attain financial freedom • By taking an education loan, you can keep your family savings intact • You can also use the education loan to create a good credit history

4. Why Choose SBI Education Loan • No processing fee is charged at the time of loan application • It covers educational courses like graduation, post-graduation including technical or professional degree or diploma courses from colleges or universities approved by UGC, AICTE, IMC etc • The loan will cover expenses like fees for college, hostel fee, and purchase of books, computers and other equipment if necessary • SBI education loansoffer attractive interest rates • You don’t need to pay any margin amount and 100% financing can be availed • Quick loan sanctions across 5000 designated campus branches across the country • The repayment tenure can be extended up to 12 years after you complete your education

5. Eligibility Criteria • The student should be an Indian National who has secured admission in a course supported by the government • It is mandatory to have a life insurance policy and it should be assigned in favour of SBI • For loan amounts up to 4 lakhs, the parents will have to stand as the co- borrower for security purposes

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