State Bank of Bikaner & Jaipur Education Loan

Name of the scheme: SBBJ Education Loan

Purpose: To help meritorious and needy students to obtain higher education in India and abroad

Eligibility: Indian nationals Admission to professional/technical course through selection process/ on merit base.

Loan Amount:

• Rs. 10.00 lacs for education in India
• Rs. 15.00 Lacs for Study in prime institutions
• Rs. 20.00 lacs for education abroad

Margin:

• Upto Rs. 4.00 lacs: NIL
• Above Rs. 4.00 lacs 5%
• For education abroad: 15%

Repayment:

• Repayment 60-84 EMI after moratorium
• Moratorium: max. Upto 12 months after completion of course or 6 months after getting employment

Security:

• Upto Rs. 4.00 lacs: NIL
• Above Rs. 4.00 lacs – 7.50 lacs Third party guarantee
• Above Rs. 7.50 lacs Eq. mortgage of landed property or other tangible security or TPG

For Study in prime institutions

• Upto Rs. 4.00 lacs: NIL
• Above Rs.4 lacs and upto Rs.15 lacs: Co-obligation of parents together with Collateral in the form of a suitable third party guarantee acceptable to the Bank.

Processing Fee: -  NIL

Other features:

• Second education loan can be granted from same branch within respective ceiling for loan amount.
• Loan for two-wheeler is also available.

Rate of interest:  As applicable from time to time
For girl student Rate will be 0.50% lower.

Click here for Further Information