How to get SBI Education Loan, know everything from interest rate to repair : If you want to know about SBI Education Loan so this article is very important for you. In this article, we will discuss How to get SBI Education Loan, I will explain each and every topic covers in details so read whole article.
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SBI Education Loan: The Bank (Education Loan) is now offering the facility of refunding loan money to customers for 15 years. Along with this, 12 months payment is also being offered.
country’s largest government bank has brought a special offer for SBI Students (sbi student loan). If you are also planning to study abroad, now you can easily fulfill this dream. The bank provides loan facility for students to study abroad. The Bank (Education Loan) is now offering the facility of refunding loan money to customers for 15 years. Along with this, 12 months payment is also being offered. Let us tell you in detail about this loan of the bank –
What course is available for the loan
Explain that there is a loan for post graduation degree and diploma course from universities / colleges recognized by UGC, AICTC and IMC. It also includes IIT, IIM. Apart from this, there is also a loan facility for a teacher training / nursing course recognized by the Central Government or the State Government. Apart from this, the courses for Aeronautical, Pilot Training, Shipping etc. are recognized by the Director General of Civil Aviation, loan is also given for their degree / diploma.
If you want to take a loan to study abroad, then you can do a job oriented course like MCA, MBA and MS from the university there, then you can get a loan. Loans can also be availed for the Chartered Institute of Management Accountants of London and Certified Public Accountant Course US.
What are the expenses included in the loan,
besides college and hostel, the expenses of library, exam, lab fee, books, equipment, dress, computer etc. are covered. Apart from this, there is also a refundable fund and citation money, which will be ten percent of the fees of the entire course. Travel expenses of two wheeler price up to 50 thousand rupees are also included for studying abroad.
How much does the loan get
There is a facility of up to Rs 30 lakh loan for medical courses. Apart from this, loans up to Rs 10 lakh can be obtained for other courses. The upper limit is up to 50 lakh rupees, which depends case to case. There is a loan facility of Rs 7 lakh 50 thousand for studying abroad, which can increase to 1.5 crore rupees under the Global ED Ventage.
There is no process charge on loans up to Rs 20 lakh, but if the amount goes above this, Rs 10,000 and tax is included.
For loans up to 7.5 lakh, the parents of the borrower are included as security. Above this, there is a provision for tenable electrical security in addition to the parents.
There is no margin on loans up to Rs 4 lakh. The amount above this is 5 percent for India and 15 percent for foreign countries.
The interest during the moratorium and course period is added to the principal and the repair is decided accordingly. If the entire interest is paid before the commencement of the repair, the EMI is fixed on the principal.