SBI EDUCATION LOAN POLICY

Dear Sir, SBI SCHOLAR LOAN SCHEME We pleased to present ourselves as the biggest bank with wide network of branches. All our branches are under CBS and fully equipped with Internet Banking, ATMs, Mobile Banking, RTGS/NESF facilities etc. We are happy to offer “Scholar Loan Scheme” (Education Loan) to students who secure admission to your esteemed Institution. We shall be thankful if you please include the enclosed details of the scheme in the college prospectus and website. We look forward and happy to help students for their financial requirements to pursue their education and thus building their bright future prospective. Our branch is situated at the next door to your esteemed Institution.

SBI SCHOLAR LOAN SCHEME Purpose

To extend financial assistance to deserving/meritorious students for pursuing full time courses in India at select premier & reputed institutes.

Loan Amount

Maximum: Rs.15.00 lacs

Margin

5.00 %

Processing Fee

Nil

Security

No Security/Collateral or Guarantee asked.

Interest

1. Simple Interest charged period/moratorium period.

during

the

course

2. Loans sanctioned on floating rate basis i.e. 1% above base rate at present effective rate of interest is 10.70 % p.a. (floating) 4. 0.5% concession in interest rate if the parent of the student stands as a co-borrower 5. 0.25 % concession in interest rate if the applicant is having work experience of more than 2 years.

Moratorium

Up to 6 months after completing the course.

Repayment

Max.5-7 years after commencement of repayment.

Others

1. Provision for a Second Education Loan for further studies. 2. Extension of time for completion of course may be permitted for max. period of 2 years.

Documents Required pertaining to Student 1)

Confirmed admission offer letter

2)

03 Photographs passport size

3)

Cat scoring

4)

Schedule of expenses

5)

Copy of prospectus

6)

Mark sheets 10th onwards with certificates (total chain without break till admission to MDI) and last two years form-16 (if

7)

Last 3 salary slips, with 6 months’ salary account if borrower is working)

8)

Savings Bank account with State Bank Of India (with same residence address)

9)

Copy of passport/ID proof and pan card

applicable)

10) Proof of gaps in studies, if any (10/- non judicial stamp paper)

Documents required pertaining to Guardian/ Guarantor 1)

03 Passport size photographs

2)

Bank A/C statement last 12 months

3)

Copy of Pan Card/passport

4)

Savings Bank account with State Bank Of India (with same residence address)

5)

Residence proof (Electricity bill/telephone bill/credit card statement/I Tax, Wealth Tax assessment order/ Passport.

6)

Last 3 salary slips, with 6 months salary account statement

7)

06 cheques as security

8)

Income proof :

Salaried

:

Non-Salaried : 9)

Latest salary slip, Form 16 & ITR for last 2 years Three years ITR along with computation of Income P&L statement, Balance sheet, Business proof

Asset & Liability statement along with supporting documents

10) Affidavit as format given below ( on Rs. 10/- Non judicial stamp paper ) 11) Photograph, signatures on application form and kyc documents should be verified by local state bank of india branch (if co-borrower is not coming to our Branch) 12) Income certificate from Tehsildar/SDM/Magistrate/Competent authorities if income is upto 4.50 lacs & student is interested to avail Govt. Education Loan subsidy. State Bank Of India Mehrauli Road , Near Kalyani Hospital Gurgaon – 122001 Fax 0124-2333230

FOR ANY ASSISTANCE PLEASE CONTACT : Sh. Amit Adlakha, Field Officer : 08802801801/0124-4780444 Sh. P.M.Samria, Chief Manager : 09717111498/0124-4780444 Sh. S.R. Sharma, Asstt. General Manager : 08527447999/0124-4780401

We further advise that why one should apply for SBI Scholar Loan even if they can afford the course expenses because of numbers of benefits available with the scheme as mentioned below :•

Now no co borrower is required, loan can be available in the student name only

•

Lowest Interest Rate of 10.70 % floating

•

0.5% concession in interest rate if the parent of the student stands as a co-borrower

•

Loan can be sanctioned in student name only, without any co-borrower. That means you are self reliant from the day one.

•

Income Tax Benefit for interest paid in this loan to parent/student

•

Interest subsidy for those student whose family income is less than Rs. 4.50 Lacs per annum