SBI Education Loan 2026
India’s largest bank runs the widest set of education loan schemes — Student Loan for courses in India and abroad, Scholar Loan for premier institutes, Global Ed-Vantage for study abroad and PM-Vidyalaxmi-linked loans. Interest rate 6.90% – 9.90%, loan Student Loan up to ₹50 lakh (₹75 lakh for medical courses at top-100 NIRF institutes; need-based up to ₹1 crore); Global Ed-Vantage ₹7.5 lakh – ₹3 crore, tenure Up to 15 years after the moratorium.
Rates as of 9 Jun 2026 · Checked 27 September 2026SBI Education Loan at a glance
- Among the lowest rates for premier institutes (6.90% onwards)
- Nil processing fee up to ₹10 lakh on Student Loan and on Scholar Loan
- Large study-abroad limits (up to ₹3 crore)
- 0.50% concession for girl students
- Student Loan above ₹7.5 lakh needs collateral unless the institute is on a premier list
- Global Ed-Vantage moratorium is only course + 6 months
- Premier-institute pricing depends on the list your institute is on
SBI education loan interest rate & charges
| Feature | SBI |
|---|---|
| Interest rate | 6.90% – 9.90% |
| Rate details | Official rates effective 9 Jun 2026, linked to SBI’s EBLR of 7.90% (repo 5.25% + 2.65%): Scholar Loan for premier institutes 6.90% – 7.65%; PM-Vidyalaxmi-linked tiers Utkarsh 6.90%, Uttam 7.20%, Uday 8.40%; Student Loan 9.90% up to ₹7.5 lakh (unsecured) and 9.40% when secured; Global Ed-Vantage 9.40% (8.90% at select institutions with collateral); Skill Loan 9.40%. SBI has also listed a limited-period 6.75% rate for some premier institutes. |
| Processing fee | Student Loan: nil up to ₹10 lakh, ₹5,000 + GST for ₹10–20 lakh, 0.50% (max ₹25,000) above ₹20 lakh. Scholar Loan: nil. Global Ed-Vantage: 0.50% (min ₹10,000, max ₹50,000) + GST |
| Loan amount | Student Loan up to ₹50 lakh (₹75 lakh for medical courses at top-100 NIRF institutes; need-based up to ₹1 crore); Global Ed-Vantage ₹7.5 lakh – ₹3 crore |
| Tenure | Up to 15 years after the moratorium |
| Prepayment / foreclosure | No prepayment or foreclosure charge — education loans are floating-rate loans to individuals |
| Collateral-free limit | Student Loan ₹7.5 lakh; Scholar Loan up to ₹50 / ₹40 / ₹30 lakh for List AA / A / B institutes (with parent co-obligation); Global Ed-Vantage up to ₹50 lakh at select institutions |
| Moratorium | Student Loan and Scholar Loan: course + 1 year; Global Ed-Vantage: course + 6 months |
| Margin | Student Loan: nil up to ₹4 lakh; 5% (India) / 15% (abroad) above. Scholar Loan: 100% finance |
| Concessions | 0.50% for girl students (Student Loan; Global Ed-Vantage at non-select institutions); aggregators report a 1% concession if interest is serviced during the moratorium |
Special schemes & features
For students admitted to premier institutes on SBI’s AA/A/B lists: 6.90% – 7.65%, nil processing fee, 100% finance
Study abroad: ₹7.5 lakh – ₹3 crore at 9.40% (8.90% at select institutions with collateral); moratorium course + 6 months
Utkarsh 6.90%, Uttam 7.20%, Uday 8.40% for students at Quality Higher Education Institutions
For children of defence and CAPF personnel: 8.65%
For certified skill-development courses: 9.40%
Source: sbi.bank.in, 9 Jun 2026. Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at SBI’s rates
| Loan amount | EMI @ 6.90% | EMI @ 8.40% | EMI @ 9.90% |
|---|---|---|---|
| ₹5,00,000 | ₹5,780 | ₹6,173 | ₹6,580 |
| ₹10,00,000 | ₹11,559 | ₹12,345 | ₹13,160 |
| ₹25,00,000 | ₹28,898 | ₹30,863 | ₹32,899 |
Tenure 10 years, reducing-balance method. Total interest on ₹10,00,000 at 6.90%: ₹3,87,125.
SBI education loan EMI calculator
Eligibility
- Indian national (some lenders also lend to NRI/OCI students)
- Confirmed admission to a recognised course in India or abroad, usually through an entrance test or merit-based selection
- Parent or guardian as co-borrower (spouse or parents-in-law for married students)
- Satisfactory credit history of the co-borrower; income matters more for larger or unsecured loans
- Collateral for loans above ₹7.5 lakh under the IBA model scheme (higher collateral-free limits for premier institutes)
- Margin money (your own contribution) of 5% for India or 15% for abroad on loans above ₹4 lakh
Documents required
- Student and co-borrower KYC: PAN, Aadhaar, passport (for abroad), photographs
- Admission letter and official fee schedule of the institute
- Marksheets of Class 10, 12, graduation and entrance-test scorecards
- Co-borrower income proof: salary slips / Form 16 or ITR for 2 years, 6 months’ bank statements
- Collateral papers for secured loans: title deed, encumbrance certificate, valuation and legal reports
- For studies abroad: I-20 / CAS / CoE or offer letter, visa (at disbursal), cost estimate, GRE/GMAT/IELTS/TOEFL scores
How to apply for SBI Education Loan
- Shortlist lendersCompare rate, collateral-free limit, margin and moratorium for your institute — premier institutes get much better terms.
- Apply online or via PM-VidyalaxmiApply on the bank’s website, at a branch or through the PM-Vidyalaxmi portal (pmvidyalaxmi.co.in) for participating banks.
- Submit documentsAdmission letter, fee schedule, academic records, KYC and co-borrower income proof; collateral papers if needed.
- Sanction & KFSCheck the sanction letter and Key Facts Statement for APR, moratorium terms and margin before signing.
- DisbursalFees are paid directly to the institution term by term; living and other costs are released in tranches.
SBI vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹10,00,000 |
|---|---|---|---|---|
| Union Bank Education Loan | 6.75% – 10.00% | Not published in the sources checked — ask the branch | Up to 15 years after the moratorium | ₹11,482 |
| Bank of Baroda Education Loan | 6.85% – 9.90% | Nil up to ₹7.5 lakh and for premier institutes in India; studies abroad 1% (max ₹10,000), refunded for premier institutes; ₹8,500 per property mortgaged | Up to 120 EMIs (loans up to ₹7.5 lakh) or 180 EMIs (above ₹7.5 lakh) after the moratorium | ₹11,534 |
| Canara Bank Education Loan | 6.85% – 10.10% | Vidya Turant: nil (PM-Vidyalaxmi portal fee ₹200 + GST); Master’s-abroad scheme 0.50% (capped at ₹10,000 – ₹20,000) | Up to 15 years excluding the moratorium | ₹11,534 |
| SBI Education Loan | 6.90% – 9.90% | Student Loan: nil up to ₹10 lakh, ₹5,000 + GST for ₹10–20 lakh, 0.50% (max ₹25,000) above ₹20 lakh. Scholar Loan: nil. Global Ed-Vantage: 0.50% (min ₹10,000, max ₹50,000) + GST | Up to 15 years after the moratorium | ₹11,559 |
| Bank of India Education Loan | 7.00% – 9.80% | Studies in India: nil (portal fee ₹100 + GST); studies abroad: ₹5,000 (aggregator) | 15 years from start of repayment | ₹11,611 |
| PNB Education Loan | 8.10% – 11.25% | About 1% for study-abroad loans (aggregator); India loans as per PNB’s service-charge schedule | Up to 15 years | ₹12,186 |
| Credila Education Loan | 8.95% – 13.00% | 0.5% – 1% of the loan + GST | Up to 14 years | ₹12,641 |
| HDFC Bank Education Loan | 9.00% – 14.10% | Studies in India: 1% of loan or ₹1,000, whichever is higher; studies abroad: 1.5% + taxes | Up to 10 years for loans up to ₹7.5 lakh; up to 15 years above | ₹12,668 |
Frequently asked questions
What is the SBI Education Loan education loan interest rate?
SBI education loan rates start at 6.90% and go up to 9.90% p.a. (as of 9 Jun 2026). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹10,00,000 from SBI?
At 6.90% for 10 years the EMI is about ₹11,559, with total interest of ₹3,87,125.
What is the processing fee?
SBI: Student Loan: nil up to ₹10 lakh, ₹5,000 + GST for ₹10–20 lakh, 0.50% (max ₹25,000) above ₹20 lakh. Scholar Loan: nil. Global Ed-Vantage: 0.50% (min ₹10,000, max ₹50,000) + GST. GST at 18% applies on fees.
What is the maximum tenure?
SBI: Up to 15 years after the moratorium.
Can I prepay or foreclose the loan?
SBI: No prepayment or foreclosure charge — education loans are floating-rate loans to individuals.
Which SBI education loan is cheapest?
The Scholar Loan (6.90% – 7.65%) and PM-Vidyalaxmi-linked Utkarsh tier (6.90%) are the cheapest, but only for students at institutes on SBI’s premier lists or eligible QHEIs. The regular Student Loan is 9.40% (secured) to 9.90% (unsecured up to ₹7.5 lakh).
Does SBI need collateral for study abroad?
Global Ed-Vantage loans need collateral in general, but SBI allows up to ₹50 lakh without collateral for select institutions. Confirm your university’s status with the branch.
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with SBI Education Loan. Terms change — confirm with the lender.