SBI Scholar Loan – Funding for IIT, IIM & Top Institutes in India

Exclusive low-interest education loan scheme for students admitted to premier institutions of India.

Overview of SBI Scholar Loan

The SBI Scholar Loan is a special education loan scheme designed to support meritorious students studying in IITs, IIMs, ISB, NITs, AIIMS, IISC, and other top-ranked institutes in India. This scheme offers concessional interest rates, collateral-free funding up to a certain limit, and simplified documentation, making higher education more accessible for talented students.

Top Benefits of SBI Scholar Loan

🏫 Exclusive Coverage

Available for 120+ premier institutes including IITs, IIMs, ISB, NITs, AIIMS, IISC, and XLRI.

💰 High Loan Amount

Up to ₹40 Lakhs for approved institutions without collateral (varies by category).

📉 Lower Interest Rates

Concessional interest rates compared to normal SBI education loans.

📝 Simplified Documentation

Fast approvals with reduced paperwork requirements.

👩‍🎓 No Processing Fees

No loan processing fees for students of listed institutions.

⏳ Flexible Repayment

Up to 15 years repayment tenure with moratorium till course completion + 12 months.

🔒 Collateral-Free Loans

No security required for loans up to ₹7.5 Lakhs; higher limits depend on institution category.

👨‍👩‍👧 Parental Co-Borrower

Loan must be jointly applied with parent/guardian.

Eligibility Criteria

Indian nationality.
Admission secured in one of the approved top institutes (IITs, IIMs, ISB, NITs, etc.).
Age between 18–35 years.
Co-borrower (parent/guardian) required.

Expenses Covered

Tuition fees
Examination, library, and lab fees
Hostel and living expenses
Travel expenses (if applicable)
Books, laptops, and study equipment
Insurance premiums

Required Documents

Admission letter from IIT/IIM/approved institute
Mark sheets of qualifying exams
ID proof, Aadhaar, PAN, address proof
Income proof of parent/guardian (salary slips, ITR)
Passport-size photographs

FAQs – SBI Scholar Loan

1. Which institutes are covered under SBI Scholar Loan?

IITs, IIMs, ISB, AIIMS, IISC, NITs, XLRI, and 100+ top Indian institutions.

2. What is the maximum loan amount?

Up to ₹40 Lakhs without collateral for select institutions; higher amounts possible with security.

3. Is collateral required?

Collateral-free up to certain limits; depends on category of institution.

4. What is the interest rate?

Lower than normal SBI education loans, with additional concession for female students.

5. Is there a processing fee?

No, processing fees are waived for approved institutes under Scholar Loan scheme.

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Disclaimer: This page is created for informational purposes only. SBI Scholar Loan eligibility, loan limits, and interest rates are subject to change as per SBI’s official guidelines. Please verify details at the nearest SBI branch or on the official website before applying. No financial advice or guarantees are provided here.