Education and Career Forum

Respected Sir, I am going to apply an education loan in State Bank of India. I have a Savings Account in this Bank. So, can you please let me know how they disburse the amount which is allotted in the education loan?

The education loan offered by State Bank of India will be directly disbursed in stages to the concerned college/ university as per the requirement. Your savings bank account will not be credited with the education loan amount.

Disbursement procedure of an education loan offered by State Bank of India is mentioned below :-

--> The loan amount will be disbursed in stages as per the requirement/ demand directly to the Institutions/ Vendors of books/ equipments/ instruments.

--> The loan with be generally sanctioned at the branch
nearest to the permanent residential address of the student/parent.