Max loan with collateral: No upper limit (subject to course and eligibility)
Moratorium: Course duration + 1 year
CSIS eligible: Yes — for family income below Rs 4.5 lakh
Apply via: Vidya Lakshmi portal or SBI YONO app or branch
SBI Education Loan Schemes 2026
Scheme
Purpose
Max Amount
Rate
SBI Student Loan
Domestic courses (graduation, PG, professional)
Rs 20 lakh
8.65%
SBI Scholar Loan
Premier institutions (IIT, IIM, NIT, AIIMS)
Rs 40 lakh
7.85%–8.15%
SBI Global Ed-Vantage
Study abroad — overseas universities
Rs 1.5 crore
9.55%
SBI Skill Loan
Vocational and skill development courses
Rs 1.5 lakh
As applicable
SBI Scholar Loan for IIT/IIM students: If you are admitted to IIT, IIM, NIT, AIIMS, IISc or other listed premier institutions, you qualify for SBI Scholar Loan with a lower interest rate of 7.85%–8.15% and higher loan amount up to Rs 40 lakh. This is significantly better than the standard student loan.
What is the Interest Rate on SBI Education Loan 2026?
Scheme
Base Rate
Concession for Women
Effective Rate (approx)
SBI Student Loan
8.65%
0.50% concession
8.15% for women
SBI Scholar (List A institutions)
7.85%
0.50% concession
7.35% for women
SBI Scholar (List B institutions)
8.15%
0.50% concession
7.65% for women
SBI Global Ed-Vantage
9.55%
0.50% concession
9.05% for women
💡 SBI offers a 0.50% interest concession for girl students across all education loan schemes. This is one of the most significant concessions in the market.
Collateral Requirements for SBI Education Loan
Loan Amount
Collateral Required
Up to Rs 4 lakh
None — no collateral, no guarantor
Rs 4 lakh to Rs 7.5 lakh
Third-party guarantor acceptable (no property needed)
SBI Scholar Loan is for students admitted to premier institutions like IITs, IIMs, NITs, AIIMS and other government-listed top colleges. It offers lower interest rates (7.85%–8.15%) and higher loan amounts (up to Rs 40 lakh). No collateral may be required for students at top-listed institutions. SBI Student Loan is for all other recognised colleges at a slightly higher rate.
You can initiate the application online via Vidya Lakshmi portal or SBI YONO app. However, for final document verification and loan sanction, a branch visit is typically required. SBI is working on making more of the process digital but complete digital disbursement without branch visit is not yet standard.
Yes. SBI YONO app allows existing SBI account holders to apply for education loans digitally. You can check your pre-approved loan offer on YONO and complete the process faster. For first-time applicants without an SBI account, the Vidya Lakshmi portal or branch route is recommended.
Yes. SBI does not charge any prepayment penalty on education loans. You can make partial prepayments or close the loan fully at any time without extra charges. Making prepayments from your first salary significantly reduces total interest paid.
⚠️ Disclaimer: All scheme details are based on publicly available information from official government portals as of June 2026. Eligibility criteria, subsidy amounts and processes may change. FinMandi is an independent information platform and is not affiliated with the Government of India or any bank. Always verify current scheme details on the official portals before applying.