SBI Student Loan Scheme
एसबीआई स्टूडेंट लोन योजना
SBI's flagship education loan under IBA model scheme offering up to ₹7.5 Lakh without collateral, 0.50% rebate for girls, and up to 15 years repayment.
Max Loan Amount
Up to ₹7.5 Lakh (No Collateral) / Up to ₹1.5 Crore (With Collateral)
Interest Rate
8.15% – 10.15% p.a. (0.50% concession for girl students)
Moratorium Period
Course duration + 1 year (repayment holiday)
Repayment Tenure
Up to 15 years after completion of moratorium period
✦ What the Loan Covers (Eligible Expenses)
College & hostel fee, exam/library/lab fees, books/equipment/instruments, computer/laptop essential for course (up to 20% of total loan), travel passage for overseas studies.
What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Costs
Eligo disclosure: Bank loan brochures and DSA agents rarely highlight these conditions. Verify before signing your loan agreement.
Parent/guardian must be joint co-borrower; CIBIL score below 650 triggers rejection or higher collateral; simple interest is charged during study period but compounded if unserviced after moratorium; loan is disbursed directly to institute semester-by-semester subject to passing previous exams; margin money must be deposited by borrower before bank disburses its share.
✦ Collateral & Margin Money Terms
Collateral & Guarantee Requirement:
Nil up to ₹7.5 Lakh (backed by CGFSEL guarantee); Tangible collateral security of suitable value with third-party guarantee required for loans above ₹7.5 Lakh.
Margin Money (Borrower Contribution):
Nil up to ₹4 Lakh; 5% for studies in India > ₹4 Lakh; 15% for studies abroad > ₹4 Lakh.
✦ Eligibility Requirements
Indian citizen who has secured admission to higher education course in recognized Indian or foreign institution through Entrance Test or Merit-Based selection process after completing HSC (10+2).
✦ Government Subsidies & Rate Concessions
Eligible for CSIS (100% interest subsidy for family income < ₹4.5 Lakh) and PM-Vidyalaxmi 3% subvention.
✦ Required Documents Checklist
Filled CELAF on Vidya Lakshmi portal, 2 passport photos, PAN & Aadhaar of student and parent, 10th/12th/Graduation mark sheets, entrance exam scorecard, admission offer letter, verified institute fee schedule, parent's 3-month salary slips / Form 16 / 2-year ITR, 6-month bank statement.
✦ How to Apply Step-by-Step
1. Register on vidyalakshmi.co.in.
2. Complete the Common Education Loan Application Form (CELAF).
3. Search and select 'SBI Student Loan Scheme'.
4. Upload mandatory KYC, admission, and income documents.
5. Download application receipt and visit assigned SBI branch with originals for in-principle sanction within 7–10 working days.Official Portal
Official Portal / Lender Domain
Apply or verify directly on the official banking portal
✦ Frequently Asked Questions
Is collateral compulsory for SBI Student Loan Scheme?▼
No. As per IBA model guidelines and CGFSEL guarantee, no collateral security or third-party guarantee is required for loan amounts up to ₹7.50 Lakh. Tangible collateral is only mandatory if the requested amount exceeds ₹7.50 Lakh.
What is the moratorium period under SBI Student Loan?▼
The moratorium period covers the entire duration of the course plus 1 year. During this period, the borrower is not required to pay principal EMIs. Simple interest charged during moratorium can be serviced voluntarily to avail 1% interest rebate.
Are female students entitled to an interest rate discount?▼
Yes, SBI offers a dedicated 0.50% interest concession across all loan slabs for female applicants throughout the loan tenure.