SBI is India’s multinational banking as well as a government-owned financial service company which has a great push toward education. The bank has different types of schemes for foreign students, domestic students, etc. it also includes the students who are taking classes based on skill development. Well, there is a different type of loans in education as well, such as scholar loan. Skill loan, global Ed- vantage, and student loan.
How to Apply for a Student Loan?
There are two ways by which you can apply for a loan. If you applied for the institution successfully you could proceed from here:
Online: You get the online option, it’s easy and hassles free
- Visit the state bank of India’s education loan portal
- Choose the loan type you are looking for, click on that one once you find it
- Click on the apply now online
- Fill the asked form with all the needed information
- Select the loan and submit
Offline: well here you get options, choose whatever you find comfortable to go with.
Here are the steps that you need to follow:
- Visit the education loan platform
- Choose the type of loan you want
- Choose the get a callback option
- Fill the asked form and submit
- Enter the OTP you asked
- Once you are done, you will get the call from SBI customer care. The executives will discuss the loan with you before you proceed. Once you are confident about it, you can proceed.
Visit the branch
This is another option you get under the offline section. You can approach the nearest SIB bank you get. You can also use the locator to know where you can find the nearest branch. You can discuss with the officers about your education loans etc
Read More: SBI Online Banking
What are the eligibility and documents to SBI education loan?
Well, to understand if you are eligible for applying for the education loan, here are the few points that you need to know:
- The first thing you need to have is secure admission. It’s the most important and key point before you apply for any education loan from SBI.
- You must need to have one of the mentioned courses such as job-oriented profession degree course; job oriented professional diploma courses, job oriented technical degree course, a course which is conducted by the Certified public accountant or CPA and CIMA.
Documents you are going to need: SBI requires certain papers from you so you can prove that you are eligible for the loan. Also, these papers are the security and for other depending factors too. However, make sure that you are well aware of the documents so you can proceed without any hassle or trouble.
- Passport size photos, at least two
- Complete application form
- Admission proof from the university
- Statement of the study cost
- Academic records such as result of 10th and 12th, graduation results, etc
- Candidate’s PAN card
- Address or residence proof
- Bank account statements, at least of last six months
- Security against the loan
- Proof of income
Everyone wants to study higher and either it is at the national level or international level. However, we know the condition of middle-class and average families today who cannot afford the higher education fees for their children. Therefore, the government of India announced the particular scheme for the children who want to acquire higher educations and that is by providing education loan to them. Many government banks do offer this scheme, and one of the main banks is SBI. In this post, we have added all the details of SBI education loan and how anyone can apply for the same.
Smriti Jain is the owner and senior content publisher at Financesmarti. Financesmarti is a website where she shares a lot of useful stuff for the people and business of India. This includes small business ideas and other banking information, as well. Smriti completed her education in science & technology from Delhi University. Smriti usually has interests in digital marketing now, and she has chosen this career for the full-time opportunity. The primary purpose of starting this blog to provide quality information on the banking industry to the people.