SBI Education Loan 2026: Schemes, Rates, Eligibility & How to Apply
SBI is India’s largest education lender, holding roughly a third of the commercial-bank education loan portfolio. Here’s the full breakdown.
Quick Answer
SBI offers four main schemes — Student Loan, Scholar Loan, Global Ed-Vantage and Skill Loan. Rates are linked to its EBR of 7.90% and range roughly 7.15%–10.90%, with a 0.5% girl-student concession and up to 1% off for servicing interest during study. No collateral up to ₹7.5 lakh; abroad loans go up to ₹1.5–3 crore. No prepayment penalty.
SBI education loan schemes
| Scheme | For | Loan Amount |
|---|---|---|
| Student Loan | UG/PG in India | Up to ~₹10–50 lakh |
| Scholar Loan | IIT/IIM/NIT/AIIMS & premier institutes | Up to ~₹40 lakh, lower rate |
| Global Ed-Vantage | Full-time abroad courses | ₹7.5 lakh–₹1.5 cr (up to ₹3 cr top unis) |
| Skill Loan | NSDC-certified skill courses | Up to ~₹1.5 lakh |
SBI also runs the Shaurya scheme for defence families and PM-Vidyalaxmi variants (Utkarsh, Uttam, Uday).
Interest rates & concessions
SBI rates are tied to its External Benchmark Rate (EBR = 7.90%, i.e. repo 5.25% + spread 2.65%). Effective scheme rates run roughly 7.15% to 10.90%, with the Scholar Loan among the lowest for premier institutes.
- 0.50% concession for girl students.
- 0.50% concession with SBI Rinn Raksha or eligible life insurance.
- 1% concession for the whole tenure if interest is serviced during the course and moratorium.
See how SBI compares with other lenders.
Compare Rates →Eligibility
- Indian national (NRIs eligible for Global Ed-Vantage; PIO/OCI for India).
- Confirmed admission to a recognised course/institute.
- Co-applicant (parent/guardian/spouse); mandatory for minors.
- Collateral for loans above ₹7.5 lakh (above ₹50 lakh for Global Ed-Vantage).
See the full eligibility guide.
Documents required
- KYC of student & co-applicant (Aadhaar, PAN; passport for abroad)
- Admission/offer letter and cost-of-study schedule
- Class 10/12 and graduation mark sheets; entrance results (GRE/GMAT/etc.)
- Co-applicant income proof — salary slips, Form 16, 2 years’ ITR
- 6-month bank statements; asset-liability statement (above ₹7.5 lakh)
- Collateral/property documents where applicable
Full list on our documents page.
Fees & repayment
- Processing fee: nil for Student Loan; Global Ed-Vantage ~0.5% (min ₹10,000, max ₹50,000) + GST.
- Margin: nil up to ₹4 lakh; ~15% abroad / 5% India above ₹4 lakh.
- Moratorium: course period + 1 year; repayment up to 15 years.
- Prepayment: no foreclosure charges.
How to apply
- Apply online via the Vidya Lakshmi / PM-Vidyalaxmi portal or at an SBI branch.
- Select the right scheme for your course and amount.
- Upload documents and complete branch verification.
- Sanction in ~15–30 days; funds disbursed in tranches to the institute.
Tip: apply 2–3 months before your fee deadline.
Frequently asked questions
Which SBI scheme is best for abroad study?
Global Ed-Vantage for most overseas courses; Scholar Loan if you're at a premier institute (lower rate).
Does SBI fund living expenses abroad?
Yes — tuition plus living, travel, books and equipment, within scheme caps.
Estimate my SBI EMI?
Use the EMI calculator with your amount, rate and tenure.
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Disclaimer: SBI scheme details, rates and fees are indicative (June 2026) and change with RBI policy. Arthzo is not affiliated with SBI. Verify at sbi.co.in or a branch before applying. Educational content, not financial advice.