The State Bank of India (SBI) provides the maximum education loan in India to students opting for higher studies in India and abroad. This nationalised bank offers a maximum of INR 1.5 cr under its various education loan schemes. To apply for the loan, students can apply at the Vidya Lakshmi Portal or the Education Loan Portal of the SBI. This central bank also offers subsidies on education loans under several interest subsidy schemes. Additionally, the bank offers subsidies on loan interest for female students under its loan schemes. 

Maximum Education Loan in India	Study in India- INR 50 lakh Study Abroad– INR 1.5 cr Skill Development Courses- INR 1.5 lakh
Provided by	State Bank of India
Mode of Application	Online
Application Portals	Vidya Lakshmi Portal and Education Loan Portal of SBI
Education Loan Schemes by SBI	SBI Student Loan Scheme SBI Scholar Loan Scheme SBI Global Ed-Vantage Scheme Shaurya Education Loan Skill Loan Scheme

Maximum Education Loan in India for Higher Studies in India and Abroad

The SBI provides maximum education loan to students pursuing higher studies in India and abroad under its SBI Student Loan Scheme and SBI Scholar Loan Scheme. The bank has also designed the SBI Global Ed-Vantage Scheme for students pursuing higher education in universities abroad. All these schemes differ in terms of the loan amount, eligibility criteria, and educational programs. Students must have secured admission in approved courses at recognised universities/colleges/academic institutions before applying for any of the education loans. Following are the details of the aforementioned maximum education loan in India for the benefit of students.

Also Read: Documents required for Education Loan

SBI Student Loan Scheme

SBI Student Loan is provided to students seeking financial assistance for pursuing higher studies in India and abroad. Indian nationals i.e; citizens of India or Non-Resident Indians (NRIs) are eligible for loans in Indian academic institutes as well as universities around the world. Whereas, Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) can only apply for loans extending to higher education in India. This scheme offers maximum education loans in India to students seeking admission to medical colleges of India and extends loan limits for special cases. 

Particulars	Details
Loan Amount	For Colleges/Universities in India: Medical Courses: Upto INR 30 lakh Other Courses: Upto INR 10 lakh (Maximum loan in India is INR 50 lakh; depending on the case). For Colleges/Universities Abroad: Maximum Loan: INR 7.50 lakh
Effective Interest Rate	Loan upto INR 7.5 lakh: 10.9% Loan above INR 7.5 lakh: 10.9%
Concession on Interest Rate	Upto INR 7.5 lakh: 0.5% for female students Above INR 7.5 lakh: 0.5% for female students and students availing SBI Rinn Raksha scheme.
Security	Upto INR 7.5 lakh: No security Above INR 7.5 lakh: Co-obligation of a parent or a guardian along with tangible collateral is required.
Processing Charge	Upto INR 7.5 lakh: Not required Above INR 20 lakh: INR 10,000 plus taxes
Moratorium Period	Course Tenure plus 6 months after getting the job or course duration plus 12 months, whichever is earlier.
Repayment Period	15 years after the completion of the moratorium period and the course. In case of delay, the bank gives extra 2 years to repay the loan.
Eligible Courses	Study in India: Diploma courses by certain regulatory bodies. Courses by The Institute of Chartered Accountants of India (ICAI). Undergraduate, Postgraduate, and Postgraduate Diploma courses by recognised universities. Study Abroad: Undergraduate, Postgraduate, and Doctorate programs by recognised universities. Diploma courses in aviation and shipping. Courses by Certified Public Accountant (CPA), Chartered Institute of Management Accountants (CIMA), etc.
Expenses Considered for Loan	Tuition fee Examination/Lab/Library fee Essentials for course completion like uniforms, books, laptops, instruments, and equipment.Caution money Travel expenses for study abroad students. Cost of two wheelchairs (up to INR 50,000) can be included in cases where the loan is secured by a third-party guarantee or collateral. Premium of Rinn Raksha.

SBI Scholar Loan Scheme

Under this scheme, students who have secured admission to List AA, List A, List B, and List C premium colleges of India get the maximum education loan in India available for courses in these institutions. Applicant must be a citizen of India, including NRIs, and should have taken admission through the respective entrance examination or selection process to become eligible for this loan. 

Particulars	Details
Loan Amount	List AA: INR 40 lakh List A: INR 20 lakh to INR 30 lakh List B: INR 20 lakh List C: INR 7.5 lakh to INR 30 lakh
Effective Interest Rate	List AA: 8.30% for IITs and 8.35% for othersList A: 8.30% for IITs and 8.80% for othersList B: 8.80% for NITs and 9.30% for othersList C: 8.80% for NITs and 9.80% for others
Security	Co-borrower and tangible collateral are required for loans above INR 20 lakh in List A institutes and loans above INR 7.5 lakh in all other categories. Third-party guarantee accepted.
Processing Charge	Not charged
Moratorium Period	Course tenure plus one year.
Repayment Period	Up to 15 years after the completion of the degree program and moratorium. The bank offers an additional 2 years to students who fail to repay their loan in the designated time.
Eligible Courses	Regular Diploma and full-time degree programs select students through entrance tests or any other selection process. Full-time executive management courses.Part-time undergraduate and postgraduate courses at certain institutes.
Expenses Considered for Loan	Tuition fees Hostel fees Exam/Lab/Library fees Cost of essentials: Laptop/books/instruments/equipment. Travel fees for exchange programs. Caution money

SBI Global Ed-Vantage Scheme

Under the Global Ed-Vantage scheme, SBI offers the maximum education loan in India for students planning to study abroad. SBI grants this loan to students who are Indian Nationals, including NRIs and have secured admission to universities and academic institutions abroad. 

Particulars	Details
Loan Amount	Minimum loan: INR 7.5 lakh Maximum loan: INR 1.5 cr
Effective Interest Rate	10.40%
Concession on Interest Rate	0.50% to female students and students availing SBI Rinn Raksha scheme.
Security	Co-obligation of parents or a guardian, tangible collateral, and assignment of prospective income of the applicant for payment of loan instalments. A third-party guarantee is also accepted.
Processing Charge	INR 10,000 plus taxes
Moratorium Period	Course duration plus 6 months.
Repayment Period	Up to 15 years after the completion of the moratorium period and course. An extension of 2 years can be given to students if they fail to repay the loan in the scheduled time.
Eligible Courses	Undergraduate, Postgraduate, Diploma, Certificate, and Doctorate courses in universities abroad.
Expenses Considered for Loan	Tuition fee Hostel fee Lab/Library/Exam fee Travel expenses Cost of essentials: Books, laptops, uniforms, instruments.Caution money Remium of Rinn Raksha scheme Contingency expenses

Maximum Education Loan in India for Skill Development Courses

SBI aims to provide education loans to Indian Nationals intending to enrol in skill development courses under its SBI Skill Loan Scheme. This loan is approved for any skill development courses recognised by National Skill Qualification Framework (NSQF). This loan is the maximum education loan in India for skill development courses from recognised institutions in India. 

Particulars	Details
Loan Amount	Minimum Loan: INR 5000 Maximum Loan: INR 1,50,000
Effective Interest Rate	10.40%
Security	Only the co-obligation of parents or guardians is required.
Processing Charge	Not charged
Moratorium Period	Course tenure up to 1 year: 6 months from course completion. Course tenure above 1 year: 1 year from course completion.
Repayment Period	Upto INR 50,000: Upto 3 years INR 50,000 to INR 1 lakh: Upto 5 years Above INR 1 lakh: Upto 7 years
Eligible Courses	NSQF recognised Certificate/Diploma/Degree courses at recognised institutions.
Expenses Considered for Loan	Tuition fee Library/Laboratory/Exam fee Caution money Cost of essentials: Books and instruments.

Maximum Education Loan in India for Wards of Defence Salary Package (DSP)/Indian Coast Guard Salary Package (ICGSP) Officers

Shaurya Education Loan is the maximum education loan in India for wards/children of ICGSP/DSP officers in all ranks for higher education in India and abroad. This scheme is only designed for kids/wards of DSP/ICGSP officers who have secured admission to universities/colleges in foreign lands. The co-borrower of this maximum educational loan in India for wards of defence and coast guard personnel must be a Platinum or Diamond category DSP/ICGSP account holder in SBI. Additionally, the salary or pension account of the co-borrower should be with this nationalised bank throughout the loan tenure. 

Particulars	Details
Loan Amount	Colleges/Universities in India: upto INR 40 lakh Colleges/Universities Abroad: upto INR 1.5 cr
Effective Interest Rate	Upto INR 7.5 lakh: 0.90% Above INR 7.5 lakh to INR 1.5 cr: 10.9% for Secured Loan and 11.5% for Unsecured Loan
Concession on Interest Rate	Upto INR 7.5lakh: 0.5% for female students. Above INR 7.5 lakh to INR 1.5 cr: 0.50% to female students and students availing SBI Rinn Raksha scheme.
Security	Indian Colleges/Universities: No security up to INR 7.5 lakh. Above INR 7.5 lakh up to INR 40 lakh (Secured Loan): Co-borrower with liquid collateral of 100% of the loan amount or tangible property as collateral worth 110% of the loan amount. Foreign Colleges/Universities: No security up to INR 7.5 lakh. Above INR 7.5 lakh to INR 40 lakh: optional with borrower or co-borrower. A loan above INR 40 lakh up to INR 1.5 cr (Secured Loan): Liquid collateral of 100% of the loan amount or tangible property as collateral worth 110% of the loan.
Processing Charge	Loan up to INR 20 lakh: Not applicable Loan above INR 20 lakh: INR 10,000+GST
Moratorium Period	Course duration plus 12 months or 6 months after securing employment, whichever is earlier.
Repayment Period	Upto 15 years after course completion and moratorium period. An extension of 2 years is available to students unable to repay loans in due time.
Eligible Courses	Study in India: Diploma courses by certain regulatory bodies. Courses by ICAI. Graduate, Postgraduate, and Postgraduate Diploma courses by recognised universities. Study Abroad: Graduation, Postgraduation, and Doctorate programs by recognised universities. Diploma courses in aviation and shipping. Courses by CPA, CIMA, etc.
Expenses Considered for Loan	Tuition Fee Examination/Lab/Library Fee Essentials for course completion like uniforms, books, laptops, instruments, and equipment. Caution money Travel expenses for study abroad students. The cost of two wheelchairs (up to INR 50,000) can be included in cases where the loan is secured by a third-party guarantee or collateral. A premium of Rinn Raksha

Countries Covered under Study Abroad Loans

SBI provides the maximum education loan in India for students pursuing higher education in foreign universities under its Shaurya Education Loan, SBI Scholar, and SBI Education Loan schemes. Students get loans for approved courses at recognised institutions in the following countries:

1. UK
2. USA
3. Canada
4. Australia
5. Japan
6. Singapore
7. Hong Kong
8. New Zealand
9. Denmark
10. Czech Republic
11. Poland
12. France
13. Estonia
14. Belgium
15. Austria
16. Portugal
17. Norway
18. Itlay
19. Ireland
20. Netherlands
21. Greece
22. Germany
23. Russia
24. Sweden
25. Spain
26. Switzerland
27. Finland

Study abroad students and students seeking admission to academic institutions in India can secure the maximum education loan in India from the SBI. This central bank grants maximum education loans in India for various undergraduate, postgraduate, diploma, certificate, and doctorate courses from several types of institutions in the native land as well as a foreign land. 

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