Education and Career Forum

Sir, I want to know that if my Education Loan from SBI sanctioned possibly then the loan amount will come directly to my Student Account which I have in Central Bank of India? Kindly tell me about this as soon as possible.

The loan amount is paid to the bank account number which you provide at the time of applying for the loan. In general cases, you need to give the details of the bank account of your university in which the sanctioning bank deposits the amount on your behalf.

Basically, the sanctioning bank has to know the details of the bank account in which you want to receive the amount of the loan.

If you have given the details of your Central Bank of India account, you will receive the money in the same.

No, SBI will not sanction loan amount of students account in Central Bank of India.

No, SBI will not sanction loan amount of students account in Central Bank of India.But you will get an Educational loan.

On receiving sanction letter , the applicant and co applicant are expected to visit their respective banks for creation of mortgage and signing of loan agreement.

Once all the formalities are done , the loan is ready to disburse.

Mainly banks take 15- 20 days to sanction loan amount.
Banks pay the institution directly or to you , one has to check the repayment clause.