Education and Career Forum

Hello everyone, I have a desire to study MBA course. I am preparing for various MBA entrance exams. I will do this MBA course with the help of an education loan. So, can you tell me what time it will take to sanction an education loan by Banks? Please tell me immediately.

Normally, one month time is enough, if you have all the documents in order and have an excellent credit score. It will also depend on your income and other things related to your finances.

If documents are not in order and there are some discrepancies, along with issues with previous loans, then there will be delay in getting your education loan.

The general time taken by SBI bank for sanction of education loan is 10-15 working days after submission of all documents mentioned by bank. You have to submit the below mentioned documents to bank for processing your education loan :-

1. Admission Letter
2. Identity Proof
3. Address Proof
4. Income Proof
5. Passport size photos
6. Academic Certificates
7. Admission Letter
8. Collateral security documents (for loans above Rs. 7.5 lakhs).

SBI takes minimum 15 working days to sanction Education Loan. You must be an Indian National and have secured admission to any of the recognised universities in the world to be eligible.

SBI takes minimum 15 working days to sanction Education Loan. You must be an Indian National and have secured admission to any of the recognised universities in the India or abroad to be eligible.

Originally Posted by Unregistered

Hello everyone, I have a desire to study MBA course. I am preparing for various MBA entrance exams. I will do this MBA course with the help of an education loan. So, can you tell me what time it will take to sanction an education loan by Banks? Please tell me immediately.

Time taken to sanction education loan in SBI for MBA course is around 10 to 15 days. It depends on various factors like submission of documents by the applicant, processing time, verification, etc. Students can apply for education loans online. Students can contact the SBI branch for more details regarding this. State Bank of India education loan website link is given Click Here

Time taken to sanction education loan in SBI for MBA or any other course is generally 2-3 weeks.

To process your loan faster and get it sanctioned, you have to submit the required documents to bank immediately after submitting the education loan application form, so that your loan will be approved quickly.