State Bank of India (SBI) education loan information 2013 and eligible conditions to Apply

State Bank of India (SBI) education loan information 2013 and eligible conditions to Apply :
State Bank of India (SBI), the system of student loans.
Eligible courses structure for education loan in sbi 2013:

. Studies conducted in India:
· Graduation, after graduation, including regular technical and professional / diploma courses colleges / universities approved by UGC / AICTE / IMC / Public. etc.
· Regular Degree / Diploma courses conducted by autonomous institutions like IIT, IIM, etc.
· Training of teachers / child care courses are approved by the central government or the state government
· Regular degree / diploma courses like aviation, pilot training, shipping etc. approved by the Director General of Civil Aviation / Shipping
· Training and refresher courses are not subject to a student loan, if the plan is framed for bank loans for higher education.
b. Study abroad:
· Applied professional / technical courses Graduation Graduation Diploma Degree / Post and courses like MCA, MBA, etc. proposes that universities


Costs(expanses) eligible for loans:(which type of expanses comes under sbi education loan guidelines:)

Fees payable to college / school / hostel
Examination / Library / Laboratory fees
Purchase of books / equipment / tools / Uniforms
Attention / Foundation / Trade (training and 10% for the entire course)
Travel expenses / passage money for studies abroad

SBI EDUCATION LOANS 

Buying a computer is required to complete the course
The cost of the bike at Rs 50,000 / -
All other expenses necessary for the completion of the course, as study tours, projects, etc.

How much loan provided sbi for education loan and interst terms and conditions of sbi:

For studies in India, maximum Rs 10 lakes
Study abroad, up Rs 20 lakes
Education loan interest
Student loans SBI
Interest rates (with effect from 27.02.2012)
For loans up to Rs.4 Lakes
350 basis points above the base rate, currently 13.50% APR
Above Rs.4 and Lake Rs.7.50
325 basis points above the base rate, which is currently 13.25% per annum
Over lakes Rs.7.50
200 basis points above the base rate, currently 12.00% pa
0.50% concession in interest for students
Concession 1% for the full term of the loan, if the interest served quickly and use during the stay (including the duration of the course)
SBI Scholar program lending (with effect from 02.27.2012)
200 basis points above the base rate, currently 12.00% pa
(Regardless of the amount of the loan)
0.50% concession in interest for students
Concession 1% for the full term of the loan, if the interest served quickly and use during the stay (including the duration of the course)
NOTE: All prices are subject to change without notice.
The processing fee
No commission / start-up costs
Deposit of Rs 5000 / - for education loan for studies abroad which will be adjusted in the money stock
Repayment period
Compensation should be one year after the completion of the course or six months after the starting job, whichever comes first.
Place of loan repayments during the school year
Studies conducted in India Rs 10.0 6:55 lakes
Study abroad Rs 20,0 6:55 lakes
Safety
Amount for loans up to Rs 10.00 lakes studies in India and Rs 20.00 Lake to study abroad
For Rs 4 varnishes No security
Above Rs 4 lakh crore. 7.50 Pledge of lakes as required third party guarantees. Bank may, at its discretion, in exceptional cases, guarantees of third weive if satisfied parents net-worth/means / s, which are involved in the documents as "joint borrower".
Above Rs 7.50 lakes.
Physical security of suitable value and purpose of future income of the student for payment of fees.
All loans must be secured by the parent (s) / guardian of the student borrower. In the case of a married person, co-debtor may be either a spouse or parent (s) / parents-in-law
Margin
For loans up to Rs.4.0 Lakes: No margin
For loans above Rs.4.0 Lakes
Studies conducted in India: 5%
Study abroad: 15%
Documentation required
Application for student loans.
Mark sheets of last qualifying examination
Proof of admission scholarships scholarships, etc.
Schematic diagram of the cost of these courses
Two passport photos
Statement by the Borrower to the Bank for the six months
Estimate of the order of income tax, for the last 2 years
A summary of the assets and liabilities, a co-borrower
Proof of income (ie paystubs / Form 16 etc)

Click here to download the sbi education loan application form: