Education and Career Forum

sir my nearest sbi bank refuses me to grant any loan for study in private engg college so is there any other way to get the educational loan?

Getting Educational loan is very toughest one these days . So you need to be very careful.Basically State bank of India provides you with a variety of personal banking services.

Currently SBI is actively engaged in Community Services Banking . Also this SBI bank offers education loans to students like you aspiring to continue higher studies .
You can get student loan under the “ SBI STUDENT LOAN SCHEME “ . Remember one thing that you must surely possess eligible course , like Graduation courses , PG courses etc those are required .

Which ever course you may complete or completed , those course must be approved by UGC/AICTE / Government etc.

You need to keep this in your mind that Interest Rates , Expenses and Documents required considered for an Educational loan . make sure you submit all the below Documents required .

They are :
@ Marks sheets of Last qualifying examination .
@ You must have completed Education Loan Application Form . You must submit the proof of Admission Scholarship , Studentship etc
@ You must have to take 2 Passport size photographs . Take borrower’s Bank account statement for the last Six months .
@ You must show them Proof of Income like ( Salary Slips ..etc., )
@ If you have Brief Statement of assets and liabilities of the Co-borrower . I am giving you below SBI Education Loan Amount of Loan .

The schemes are as follows -
> For Studies abroad , maximum Rs.30 lacs
> For Studies in India , maximum Rs.10 lacs.
You must be an Indian Citizen . And Secured admission to professional / Technical courses in India or Abroad through Entrance Test / Merit based Selection process sometimes.

I think your doubt was cleared.Kindly follow the above each and every one step.The loan will generally be repaid in 5-7 years after the commencement of Repayment.

Education loans mainly depend on the worthiness of the borrower. It is completely bank’s discretion to sanction the loan after assessing your credit worthiness. If your course fee is between Rs 4 lakh to Rs 7.5 lakh, you need a guarantor who promises to pay the amount in case you fail to pay back the loan. You need documents like passport size photo, income proof/latest income tax return, last 6 months bank account statements during the sanctioning.