Education and Career Forum

Hello sir, I am from Lucknow and want to apply for an education loan to study BBA and MBA course in State Bank of India. Please tell me which branch should I approach for it? What is the securities, collateral required and Loan tenure?

Education Loan is provided to those students who got admission in regular courses. You want to take education loan from State Bank of India for your BBA Course. For this you have to visit to any of your nearest SBI branch and fill the application form.

Documents Required:
--Admission slip which you got from the college
--10th , 12th Mark sheet Xerox
--Address and Identity proof
--3-4 color photograph
**Also make sure that in the admission slip it is clearly mentioned the fee of course i.e up to 4 years.

Securities Required:
(1).Up to 4 Lacs--- No security
(2). From 4 Lacs to 7.5 Lacs--- Collateral Security in the form of third Party Guarantee
(3). Above 7.5 Lacs--- Collateral Security of suitable value along with assignment of future income of student for payment of Installment.

Loan Tenure:
Course period plus one year or six months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years, after commencement of repayment.

**If you have any doubt regarding this then you have to visit to the nearest SBI branch for more details or you can go through below attachment.

There are many branches of State Bank of India in Lucknow. One of the most popular branch of SBI is in Indira Nagar, Lucknow. There is no need of security or collateral if education loan amount is below four lacs rupees. For education loan between 4 lacs to 7.5 lacs, guarantor is needed and for above it you need to submit collateral.

The loan tenure without interest is upto course period plus one year. After that interest is charged and you will have to pay. You can visit branch with documents like loan letter, proof of identity and address, fee structure of college, academic marksheets etc.