SBI Education Loan: Interest Rate, Eligibility & More 2025

SBI Education Loan: Updated Details as of 2025

Many students are choosing the SBI education loan to fund their higher studies. SBI, or the State Bank of India, is one of the most trusted banks in the country. It provides loans for both Indian and foreign education. The process is easy. Interest rates are competitive. And many top colleges are already listed under SBI’s approved institutions.

This article covers all details about the SBI education loan including:

• Interest rate

• Loan process

• Eligibility

• Required documents

• Application form

• Approved college list

• FAQs

Let’s get started.

What is an SBI Education Loan?

SBI Education Loan is a type of financial help provided by State Bank of India to students who want to study in India or abroad. The bank gives money to pay for tuition, hostel, exam fees, and other related costs. After completing the course, the student needs to repay the amount in EMIs (monthly installments).

Types of SBI Education Loan

SBI offers different types of education loans based on the course and location.

1. SBI Student Loan Scheme – For studies in India and abroad.

2. SBI Global Ed-Vantage Scheme – For full-time courses abroad.

3. SBI Scholar Loan Scheme – For students admitted into top institutions in India.

4. Skill Loan Scheme – For short-term skill development courses.

SBI Education Loan Interest Rate 2025

The SBI education loan interest rate varies depending on the loan scheme and the amount. As of July 2025:

Note: A concession of 0.50% is given to female students.

SBI Education Loan Eligibility

To apply for an SBI education loan, students need to meet some basic eligibility criteria:

1. Nationality: Must be an Indian citizen.

2. Admission: Must have secured admission through entrance or merit.

3. Courses Covered: Includes professional, technical, and degree courses.

4. Age Limit: Usually up to 35 years at the time of application.

5. Academic Record: Good academic background helps.

Courses Covered Under SBI Education Loan

You can apply for an SBI education loan for:

• Graduate and Post-Graduate courses

• Professional courses like MBA, MBBS, Engineering

• Technical courses

• Vocational training (for Skill Loan)

• Doctoral courses

• Courses from foreign universities (Global Ed-Vantage)

SBI Education Loan Documents Required

Before applying, gather the following documents for SBI education loan:

For Student:

• Admission letter from college/university

• Mark sheets (10th, 12th, degree)

• Identity proof (Aadhaar, PAN)

• Address proof

• Passport-size photos

For Co-applicant (Parent/Guardian):

• Income proof (Salary slips/ITR)

• Identity and address proof

• Bank account statements (last 6 months)

• Proof of relationship with the student

For Security (if applicable):

• Property documents (for loans above ₹7.5 lakhs)

• LIC policy (if pledged)

SBI Education Loan Process: Step-by-Step Guide

Here’s the SBI education loan process explained in simple steps:

Step 1: Check Eligibility

Make sure you fulfill all the basic eligibility rules like admission, course type, and age.

Step 2: Collect Required Documents

Gather all documents listed above to speed up the application.

Step 3: Fill SBI Education Loan Form

You can download the SBI-education loan form from the SBI official website or collect it from a nearby branch.

Step 4: Submit the Form

Attach documents and submit the form to the nearest SBI branch or apply online through the SBI-Education Loan Portal (vidyalakshmi.co.in).

Step 5: Verification & Sanction

The bank will verify your documents. If everything is correct, the loan will be sanctioned.

Step 6: Disbursement

The loan amount will be sent directly to the educational institution semester-wise.

SBI Education Loan Form: Where to Get and How to Fill

You can get the SBI-education loan application form in two ways:

1. Online:

   • Visit https://www.vidyalakshmi.co.in

   • Register and login

   • Choose SBI and fill out the application

2. Offline:

   • Go to your nearest SBI branch

   • Ask for the education loan form

   • Fill manually and submit with documents

Important Tips While Filling Form:

• Double-check personal and academic details

• Match names with ID proof

• Don’t leave blank sections

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SBI Education Loan College List

SBI has a list of premier colleges for which they offer loans under special schemes. These include:

Top Indian Colleges under SBI Scholar Loan Scheme:

• IITs (All)

• IIMs (All)

• NITs

• ISB

• XLRI

• AIIMS

• IISc

• BITS Pilani

Foreign Universities under Global Ed-Vantage:

• Harvard University

• MIT

• Stanford

• Oxford

• Cambridge

• National University of Singapore (NUS)

• University of Toronto

• London School of Economics (LSE)

You can get the full updated SBI-education loan college list from your nearest branch or SBI website.

Loan Amount and Repayment Terms

Repayment Terms:

• Moratorium Period: Course duration + 1 year

• Repayment Period: Up to 15 years

• EMI starts after moratorium period

Benefits of SBI Education Loan

• Low interest rate

• Long repayment period

• 0.50% discount for girl students

• No margin money for loans up to ₹4 lakhs

• Income tax benefits under Section 80E

• Wide list of approved colleges

Disadvantages of SBI Education Loan

• Processing time may be long

• Strict rules for documentation

• Collateral needed for large loans

• Repayment begins even if the student is unemployed

Tips for Easy SBI Loan Approval

• Apply early, not last minute

• Submit all documents clearly

• Choose recognized institutions

• Add strong co-applicant income proof

• Avoid errors in the loan form

FAQs About SBI Education Loan

Q1: How long does it take to get SBI education loan approved?
It usually takes 7–15 working days after document submission and verification.

Q2: Can I apply for SBI education loan without collateral?
Yes, for loans up to ₹7.5 lakhs. Higher loans need collateral like property or FD.

Q3: What is the repayment period for SBI education loan?
Repayment can be done over a period of up to 15 years including moratorium.

Q4: Can SBI education loan be used for online courses?
Generally no. The course must be full-time and recognized by UGC/AICTE/other bodies.

Q5: What if I don’t get a job after the course?
You still need to repay the loan. But you can request a grace period or EMI restructuring.

Final Thoughts

The SBI education loan is one of the best ways to support your higher education. Whether you are planning to study in India or abroad, SBI offers loans that are flexible and reliable. Make sure you fulfill the SBI education-loan eligibility, submit the correct documents, and follow the process carefully. Always compare the interest rates, and if possible, apply through the Vidya Lakshmi Portal for faster approval.

SBI is a bank you can trust. With the right preparation, your dream of studying at a top college can become true with an SBI-education loan.