Education and Career Forum

Respected Sir/Madam, I just want to know that if I apply an education loan from State Bank of Mysore for my MBBS course then after what time they will disburse the loan amount? I am going to apply an education loan from State Bank of Mysore. Kindly tell me as soon as possible.

The general time limit required in most of banks to sanction education loan is thirty days. In some cases, education loan is sanctioned within 15 days if candidates produce all relevant documents to bank.

If your documents are not as per terms and conditions of bank then it may take more than one month for sanction of loan.

As per analysis for different education loans passed by State Bank of India, the time taken to disburse education loan is 30-45 days.

Maximum time limit is 45 days. It is always released before deadlines.

Now we are living in electronic world with paperless banking and e sanction of education loans.

Education loan approval portal of India is called Vidya Lakshmi Portal. Now with proper documentation, education loan can be sanctioned in 15 days.

Maximum it can take upto 30 days.

In last few years, education loans are sanctioned within a period of 14 days. So, if you have produced all important documents for education loan sanction then you may expect within this time limit.

But it may take upto 30 days for sanction of loan in case of any delay.

Once your verification is done and everything is clear, the bank will disburse the amount according to your course requirement from time to time. Most of the banks usually give education loan in the form of draft in favor of the concerned college.

Just make sure you have all the documents and have a guarantor to support your education loan application.

The ideal time required for disbursement of education loan for any professional course is 30 days. It is subject to proper documents and other requirements.

If all terms and conditions are fulfilled and proper documents are presented to bank, it is sanctioned within time limit else time duration may increase.