Education and Career Forum

Hello sir, i want to study LLB course from Chanakya National Law University, Patna. Can SBI grant me an education loan of 7 lakh? Procedure to apply and conditions for it?

To get an education loan from State bank of India the candidate should be the citizen of India. The candidate must have secured admission in the recognized University in India or abroad. The student should not have any outstanding loan amount from any other bank. Parents should sign up as the Co-Applicant.
The candidate needs to submit photo copy of Address proof, Income proof, Income details, Education documents. After providing above mentioned documents the bank will grant you loan of Rs. 7 lac and after that when you will get the job then only you need to repay the loan amount along with interest.
The candidate can avail the loan without any processing fee. Up to Rs.4 lac the interest rate is 3.50% above Rs.4 lac and up to Rs.7.50 lac the interest rate is 3.75% and above Rs. 7.5 lac the rate of interest is 1.75%. Loan taken up to Rs.4 lac no security is required above rs.4 lac up to Rs.7.50 lac collateral security in form of a suitable third party guarantee is to be provided and above Rs. 7.50 lac co-obligation of parents together with tangible collateral security along with assignment of future income to the bank is required.