Education and Career Forum

Hello sir, I want to apply for an education loan of 6 lakh from SBI to study degree course. Please tell me what will be Pre-payment charges, securities and collateral required for it?

State Bank of India
Rate of interest of education loan of 6 lakhs:- 9.85 percent

Security:- parents or guardians as co-borrower and collateral security in the form of a third party guarantee.

Documents required:-
Letter of admission
Duly filled and signed loan application form
2 recent passport size photographs
Statement of cost of study
PAN Card, AADHAR Card of student and parent/guardian
Proof of identity and proof of residence
IT returns or IT assessment order of previous two years of the co-borrower
Statement of assets and liabilities of parent/guardian
Proof of income of parent/guardian

State Bank of India education loan

Rate of interest required for education loan of 6 lakhs:- 9.85 percent

Security procedures are:-
Parents or guardians as co-borrower and collateral security in the form of a third party guarantee.

Documents required are as follows:-

Letter of admission
Duly filled and signed loan application form
2 recent photographs (passport size)
Statement of study cost
PAN Card
AADHAR Card of student as well as parent/guardian
Proof of identity
Proof residence
Proof of income of parent/guardian
IT returns or IT assessment order of previous two years of the co-borrower
Statement of assets and liabilities of parent/guardian