SBI Student Loan Scheme
India's largest bank offers education loans from ₹1 lakh up to ₹50 lakh for studies in India and abroad, with interest rates starting at 6.90% p.a. No collateral required for loans up to ₹7.5 lakh.
Last checked on September 1, 2026. We may earn a commission when you click through.
SBI Student Loan Scheme
Updated 1 month agoAPR Range
6.9–9.9%
Amount
₹100k–₹5M
Term
12–180 months
Type
student
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Our Verdict
SBI's Student Loan Scheme is one of the most affordable education loan options in India thanks to PSU bank rates. The no-collateral limit of ₹7.5 lakh makes it accessible for domestic studies, and the 0.50% concession for female students is a genuine saving. Processing is slower than private banks, but the rate advantage is hard to beat.
Best For
Students pursuing UG/PG degrees at recognised Indian institutions who want the lowest possible interest rate and don't mind longer processing times.
Watch Out
Processing can take 2-3 weeks. Loans above ₹7.5 lakh require tangible collateral. Branch-dependent experience — quality varies by location.
Pros
- Lowest interest rates among major banks (from 6.90% p.a.)
- No collateral needed up to ₹7.5 lakh
- 0.50% interest concession for female students
- Nil processing fees for loans up to ₹7.5 lakh
- Moratorium: course period + 1 year
Cons
- Slow processing — up to 15 business days
- Heavy documentation requirements
- Collateral mandatory above ₹7.5 lakh
- Branch-dependent service quality
Summary
SBI offers education loans from ₹1 lakh to ₹50 lakh at 6.90%-9.90% p.a., with no collateral up to ₹7.5 lakh, nil processing fees, and repayment up to 15 years after a course-period moratorium.
About This Loan
Requirements
- Indian national
- Admission to recognised institution in India or abroad
- Parent/guardian as co-borrower
- Collateral for loans above ₹7.5 lakh
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