Product Details
बैंक का नाम
State Bank of India
Maximum Loan Tenure
Easy repayment over 15 years through EMI
अधिकतम ऋण राशि
Studies In India- Maximum Rs. 40 lakhs
Studies Abroad- Maximum Rs. 1.50 Cr
ब्याज दर
Loan Limit upto Rs. 7.5L: 11.15% (Effective rate; floating) Loan Amount Rs.7.5L to Rs.1.5cr (secured loan): 11.15% (Effective rate; floating); Loan Amount Rs. 7.5L to Rs. 1.5cr (unsecured loan): 11.75% (effective rate; floating)
शिक्षा ऋण का उद्देश्य/क्षेत्र
The Scheme seeks to extend financial assistance to deserving/meritorious wards of Defense & Indian Coast Guard Personnel for pursuing higher education in India and abroad.
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Shaurya Education Loan for Wards of Defense and Indian Coast Guard Personnel
पुनर्भुगतान चक्र
Easy repayment over 15 years through EMI
मुहलत
6 months grace period provided to create mortgage of property offered as security with Bank.
न्यूनतम CIBIL स्कोर
Not mentioned
Co-Borrower Required
Co-borrower must be a Diamond/Platinum category DSP/ICGSP account holder in the SBI Bank.
आवश्यक संपार्श्विक
Not mentioned
फीस एवं प्रभार
Processing fees: Upto Rs.20 lakhs- NIL Above Rs.20 lakhs - Rs. 10000 + taxes.
Interest Rate: 11.15% to 11.75%.
Pre-Payment Charges: INR 0
Late Payment Charges: 2% per month on outstanding to be charged in case there is delay in creation of EM beyond 6 months.
Legal Fees: Not Mentioned
Fees and Charges
विशेष लक्षण
1) Hassle Free processing of your Education Loan
2)Quick sanctions
3) Income Tax benefit U/S 80 (E)
4) Takeover of existing education loan from other financial institutions permitted.
पात्रता मापदंड
Only the wards of Defense & Indian Coast Guard Personnel will be eligible.
Parents (Co-borrower) must be Defense Salary Package/Indian Coast Guard Salary Package account holder in our Bank.
विशेष रियायत
0.50% concession for girl students. 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank
विशेषताएं, पात्रता और रियायत
पेशेवरों
It provides lower interest rates, resulting in substantial cost savings over the loan tenure compared to regular home loan schemes.
Additionally, defence employees enjoy exclusive benefits, such as reduced processing fees, waived charges, and access to special repayment options.
It offers ease of repayment with flexible schedules, enabling them to manage their loans without facing undue financial strain.
Cons
As the loan has a floating interest rate, borrowers may be exposed to interest rate fluctuations, which could affect monthly repayments in the future.
पक्ष विपक्ष
HDFC Credilia USA Education Loan
HDFC Credila USA Education Loan can be a consideration, especially if you can qualify for an unsecured loan and get a competitive interest rate. However, the limited unsecured loan amount, potentially higher interest rates for secured loans, mixed reviews, and lack of advertised interest rates require careful exploration.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
उत्पाद समीक्षा
पक्ष विपक्ष
आवेदन कैसे करें?
You can apply through SBI Takeover Loan's website.
आवश्यक दस्तावेज़
Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result.
Bank Account Statement for the last six months of Parent / Guardian/ Guarantor Copy of Sale Deed and other documents of title to property in respect of immovable property offered as collateral security / Photocopy of Liquid Security offered as collateral.
Permanent Account Number (PAN) of Student / Parent / Co-borrower / Guarantor AADHAAR (mandatory, if eligible under various interest subsidy schemes of GOI) Passport (mandatory for Studies Abroad) Submission of OVD.
Proof of admission to course [ Offer Letter/ Admission Letter/ ID card if available] Schedule of expenses for course Copies of letter conferring scholarship, free-ship, etc.
Gap certificate, if applicable (self-declaration from student for gap in studies).
Passport size photographs of Student / Parent / Co-borrower / Guarantor (1copy each).
Asset-Liability Statement of Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs) For Salaried Persons