New Delhi: State Bank of India (SBI) has increased its education loans up to Rs 30 lakh with offering 100% financing and a repayment period up to 15 years.
This loan will be provided an interest rate between 8.5% and 10.6%. The students can apply for term loans up to Rs 30 lakh for pursuing higher education in select 120 premier institutions in the country.
Among of these institutions Indian Institute of Management (Ahmedabad), Indian Institute of Management (Bangalore), Indian Institute of Technology (Mumbai) and Indian Institute of Technology (Delhi) are included.
The scholar loan scheme, which provides 100 per cent financing without any processing fee, covers regular full-time degree/diploma courses through entrance test/selection process, full time executive management courses and no certificate/part time courses.