Tuesday, November 18, 2008

SBI - SCHOLAR LOANS

SCHOLAR LOANS


Apply Scholar Loan online

Education Loans to students securing admissions in:

* The country’s best engineering colleges
*The nation’s elite medical colleges
*India’s top B-Schools

Eligibility :

A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.


Salient Features :

*Option to avail loan at Campus or branch nearer to permanent residence
*Option to transfer loan account to a branch convenient to student for repayment.
*Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.

Loan amount :

Maximum loan amount upto Rs.15 lacs Expenses covered

* Fees payable to college/school/hostel
*Purchase of books/equipments/instruments
*Travel expenses/expenses on exchange programme
* Purchase of computer/laptop
*Any other expenses related to education

Interest Rate :

1.5% below SBAR effective rate 11.50% p.a. (floating)

Repayment :

*Moratorium upto course duration plus six months
*Flexible repayment period upto 7 years.

Security :

* No security.
* Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)

Margin :

* Nil upto Rs.4 lacs
* 5% above Rs.4 lacs

Documentation Required :

*Letter of admission
*2 passport size photographs
*Proof of identity (driving licence/passport/PAN/any photo identity)
*Proof of residence (driving licence/passport/electricity bill/phone bill)
*Statement of expenses


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