Scribd
Upload
300 views4 pages

Education Loan FORE

The document summarizes an education loan offered by State Bank of India for students attending premier institutions in India. Key details include: - Maximum loan amount is Rs. 40 lacs without collateral. Married applicants can have a spouse or parents as co-obligators. - Expenses covered include tuition, hostel fees, books, equipment, travel for programs abroad. - Interest rate is 0.10% above base rate (currently 8.65%). - Repayment has a 12 month moratorium after studies, and can be repaid over 15 years. - Documentation required includes admission letter, income/asset proofs, marksheets, bonaf

Uploaded by

Samiksha Kalra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
300 views4 pages

Education Loan FORE

The document summarizes an education loan offered by State Bank of India for students attending premier institutions in India. Key details include: - Maximum loan amount is Rs. 40 lacs without collateral. Married applicants can have a spouse or parents as co-obligators. - Expenses covered include tuition, hostel fees, books, equipment, travel for programs abroad. - Interest rate is 0.10% above base rate (currently 8.65%). - Repayment has a 12 month moratorium after studies, and can be repaid over 15 years. - Documentation required includes admission letter, income/asset proofs, marksheets, bonaf

Uploaded by

Samiksha Kalra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

Education Loan for

FORE School of Management Students


Eligibility Loan Amount & Security
Sanction of Term Loan to Students (Indian Maximum Loan amount Rs. 40.00 Lacs without any
Nationals) for pursuing higher education in India in tangible collateral security
the Selected Premier Institutions
In case of married person, co-obligator can be
Education Loans for Students securing admission either spouse or the Parent (s) / Parent (s) in Law.
in the country’s best B Schools, Medical College, Parent co-obligation can also be substituted by a
Engineering College, Law College and other suitable Third Party Guarantee
reputed institutions
Expenses Covered
Courses Covered  Fees payable to college/ school/ hostel
Regular full time Degree/ Diploma Courses  Examination/ Library/ Laboratory Fees
through entrance test/ selection process. Full time
 Purchase of books/ Equipments/
Executive Management Courses like PGD are also
Instruments
covered. No Certificate/ Part time courses are
covered under the scheme.  Caution Deposit/ Building Fund/
Refundable Deposit supported by
Salient Features Institution Bills/ Receipts (not to exceed
Loan at Designated Campus Branch for the 10% of the Tuition Fees for the entire
respective Institution as per the convenience of course
the student/ parent
 Travel Expenses/ Expenses on Exchange
Option to transfer loan account to a branch closer Programme
to the place of co-borrower (after the completion  Purchase of Computer/ Laptop
of course but before commencement of  Any other Expenses related to Education
repayment)
IT Exemption under Section 80E in respect of
ATM cum Debit Card and Internet Banking Facility
interest paid in all Education Loans
Second Education Loan for further higher studies
provided the institution and cost of study fall
within the criteria for Scholar Loans. Combined Repayment
loan amount should not exceed the maximum
permissible loan amount under SBI Scholar Loan
 Course Duration plus 12 months
Scheme.
moratorium
 Repayment period upto 15 years
Margin Nil

Processing Fee Nil


Interest Rates
Floating Rate: 0.10% above EBLR (9.15%)- 0.60% concession i.e 8.65%

All Interest Rates are subject to change, without Notice

Documentation Required

 Letter of Admission  Proof of income (i.e. Salary Slips/ Form 16


 Completely filled in Loan Application Form for 2 years) of Parent/ Guardian/ other co-
 3 recent passport size photographs of borrower
applicant & co applicant  Class X onwards certificates and mark
 PAN Card of the Student & Parent/ sheets of student
Guardian  If work Experience of Student: provide last
 Proof of Identity (Driving License/ 3 month Salary Slips, 6 month account
Passport/ any photo identity) statement and 2 years Form 16 and Work
 Proof of Residence (Driving License/ Experience Certificate from the Company
Passport/ Electricity Bill/ Telephone Bill)  Bonafide from FORE
 Statement of cost of study  ID proof from FORE
 Student & Co Borrower/ Guarantor’s Bank  6 PDCs of co-borrower’s a/c
account statement for last 6 months  Stamp Papers in the name of Borrower
 IT Return/ IT Assessment order of last 2 and co-borrower as first party and second
years of Parent/ Guardian/ other co- party as SBI valuing Rs. 100 x1 and Rs. 10 x
borrower 2 (please ask the details at the time of
 Brief statement of Assets & Liabilities of sanction of loan
Parent/ Guardian/ other co borrower
For details please contact:

Ms. Debasmita Ghosh(Loan Officer)

Mb: +91- 85277 14646

Ms. Shruti Bharti Pandit(Chief Manager)

Mb: +91- 9351345161

State Bank of India, NCERT Campus,

Sri Aurbindo Marg, New Delhi 110016

[email protected]

You might also like