State bank of Hyderabad-Education Loan

Get Education loan from State bank of Hyderabad where your needs perfectly fits. If anyone need financial support and looking for better loan option then state bank of Hyderabad is good option for the same.

Purpose of education loan scheme is to extend financial assistance to all eligible/ deserving/ meritorious students for pursuing higher education in India & Abroad.

Education Loan is given to limit of 10 lakhs for studies in India and 20 lakhs for studies in abroad.

Eligibility:

Students Eligibility:

  • Should be an Indian National.
  • Secured admission to professional/ technical courses through Entrance Test / Selection process.
  • Secured admission to foreign University / Institution.

Course Eligibility:

Studies in India:

  • Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/ universities approved by UGC/ AICTE/ IMC/Govt. etc
  • Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
  • Teacher training/ Nursing courses approved by Central government or the State Government
  • Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping
  • Vocational Training and skill development study courses will not be covered under the Education Loan Scheme, as the scheme is framed to provide bank loans for higher studies

Studies abroad:

  • Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities

Loan Covered:

  • Fees payable to college/school/hostel
  • Examination/Library/Laboratory fees
  • Purchase of Books/Equipment/Instruments/Uniforms
  • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course)
  • Travel Expenses/Passage money for studies abroad
  • Purchase of computers considered necessary for completion of course
  • Any other expenses required to complete the course like study tours, project work etc.

Margin:

For loans upto 4 lakhs: Nil

For loans above 4 lakhs: For Studies in India: 5 %

For Studies abroad: 15%

Security:

  • Amount: For loans upto `10 lacs for Studies in India and upto 20 lacs for studies abroad
  • Upto `4 lacs: No Security
  • Above `4 lacs to `7.50 lacs: Collateral security in the form of suitable third party guarantee.
  • Above `7.50 lacs.: Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

 

 

 

 

Rate of interest:

  • Base rate: 10.20%
    interest rates advances segment wise as on 11.02.2013
  • Housing loan

w.e.f. 01-04-2014

Period/ Amount

Up to `75 lacs

Above `75 lacs

Up to 30 Yrs

10.30%

10.40%

SBH Maxgain Housing Loan

10.30%

10.40%

Processing Charges

When Loan are sanctioned :
a) Upto Rs. 25 lacs. : 0.25% of loan amount subject to minimum of Rs. 5000/-
b) Above Rs. 25 lacs to Rs. 75 lacs Rs. 6500/- (flat)
c) Above Rs. 75 lacs Rs. 10000/- (flat)

When loans are rejected :
a) Upto Rs. 25 lacs : Nil
b) Above Rs. 25 lacs : Flat Rs. 1000/- to be recovered.

Documentation:

  • Completed Education Loan Application Form.
  • Mark sheets of last qualifying examination
  • Proof of admission scholarship, studentship etc
  • Schedule of expenses for the specified course
  • 2 passport size photographs
  • Borrower’s Bank account statement for the last six months
  • Income tax assessment order, of last 2 years
  • Brief statement of assets and liabilities, of the Co-borrower
  • Proof of Income (i.e. Salary slips/ Form 16 etc)

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