Online SBI Skill Education Loan Scheme

Education Loan  Updated date : November 6, 2017 23

SBI Skill Loan : A term loan granted to Indian Nationals for pursuing Skill development courses in India.

SBI Skill Loan Courses and Institution Eligibility

  • Training Institutes/ Courses: Courses run by Industrial Training Institutes (ITIs), Polytechnics, training partners affiliated to National Skill Development Corporation (NSDC)/ Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) are eligible for a Skilling Loan.
  • Schools recognized by Central or State Education Boards or Colleges affiliated to recognized university leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.

There is no minimum course duration.

SBI Skill Loan Expenses considered for loan

  • Tuition / Course Fee
  • Examination / Library / Laboratory fee
  • Caution deposit
  • Purchase of books, equipments and instruments

Any other reasonable expenditure found necessary for completion of the Course. (As such courses are localized boarding, lodging may not be necessary. However, wherever it is found necessary, the same could be considered on merits)

SBI Skill Loan Amount of Loan

  • Minimum Loan Amount: Rs. 5000
  • Maximum loan amount: Rs. 1,50,000

SBI Skill Loan Interest Rate
Click here for Interest Rate

Timeline for Disposal of Loan Application

Maximum 6 days, after the receipt of duly completed application with supporting documents.

The timeline start from the date of receipt of complete documents from the applicant and the time taken by the applicant for submitting documents and/ or for furnishing information sought by the Bank will not be taken into account for the purpose of timeline indicated above.

All timeline counts will be on the basis of full working days. Wherever there is a need for verification etc. with various authorities/ Govt. bodies across one or more centres, a minimum of 15 additional working days will be applicable. We shall endeavour, at all times, to deliver within the indicated timelines, barring in situations and circumstances that are beyond the control of the Bank.

SBI Skill Loan Processing Fees : Nil

SBI Skill Loan Margin : Nil
Moratorium Period

Course DurationMoratorium Period
Courses of duration upto 1 year6 months from the completion of the course
Courses of duration above 1 year12 months from the completion of the course

Repayment Tenure

Loan AmountRepayment Period in Years
Loans upto Rs 50,000Upto 3 years
Loans between Rs 50,000 to Rs 1 lakhUpto 5 years
Loans above Rs. 1 lakhUpto 7 years

SBI Skill Loan Security

  • No collateral or third party guarantee will be taken.
  • However, the Parent/ Guardian will execute loan documents along with the student, as joint borrower (co-borrower). Spouse will be included as co-applicant wherever applicable, in addition to Parent/ Natural Guardian.

SBI Skill Loan Documents Required

  • Completed Application Form
  • Mark sheets of last qualifying examination
  • Proof of admission scholarship, studentship etc
  • Schedule of expenses for the specified course
  • 2 passport size photographs
  • PAN Card of the student and the Parent/ Guardian/ Spouse
  • AADHAR Card of the student and the Parent/ Guardian/ Spouse
  • Borrower's Bank account statement for the last six months
  • Income tax Returns/ IT assessment order, of last 2 yrs of co-borrower (if IT Assessee)
  • Brief statement of assets and liabilities, of the Co-borrower
  • Proof of Income (i.e. Salary slips/ Form 16), if applicable

Vote
Result 0 votes
Not Useful Happy Somewhat Useful Useful Very Useful

Apply Loan Loan Calculator Share

Most View Loan

  • Apply Online Education Loan
    Apply Online Education Loan
    Education Loan

    Dream of accomplishing goal and setting benchmark for self is linked to skill set of the student. Right education and coaching is very important to develop the required skill set. The cost of education is increasing at alarming pace within India and ...

  • Apply for Education Loan or Study Loan in Axis Bank
    Apply for Education Loan or Study Loan in Axis Bank
    Education Loan

    Fuel your dreams with financial assistance for professional or technical education in India or abroad.✔ Prime Institute (India) & (Abroad) ✔ Special Rate of Interest ranging from 10.5% - 12.5% ✔ Offer valid till Dec 30, 2017 ✔ Loan Amount ✔ Minimum -...

  • Central Government Education Loan Interest Subsidy HDFC Bank
    Central Government Education Loan Interest Subsidy HDFC Bank
    Education Loan

    The Government of India has introduced the Central Government Interest Subsidy Scheme to ensure that every child as the right to a higher education. At HDFC Bank, we are proud to help give every child a chance to fulfil their dreams.✔ Quick Disbursal...

  • Education Loan for Foreign Education in HDFC Bank
    Education Loan for Foreign Education in HDFC Bank
    Education Loan

    Fulfill your child’s academic ambitions with HDFC Bank’s education loan for foreign education.Get customised solutions and flexible repayment terms with our education loan for foreign education. Receive up to 100% finance when you apply for our educa...

  • Education Loan for Indian Education in HDFC Bank
    Education Loan for Indian Education in HDFC Bank
    Education Loan

    Fuel your child’s aspirations with HDFC Bank’s education loan for Indian education.Apply for our education loan for Indian education and get loans of up to Rs 10 lakhs. Our education loan for Indian education offer competitive pricing and give you th...

  • Online Apply SBI Global Ed-Vantage Loan Scheme
    Online Apply SBI Global Ed-Vantage Loan Scheme
    Education Loan

    SBI Global Ed-Vantage Loan SchemeSBI Global Ed-Vantage is an overseas education loan exclusively for those who wish to pursue full time regular courses at foreign colleges/universities. Key features include:Faster: Online application processLighter: ...

Loan Query / Support / Feedback