Education Loans in India
Tuesday, January 21, 2020
Education & Career
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SBI Commercial and International Bank Education Loan Scheme

SBI Commercial & International Bank Ltd. (SBICI) is a wholly owned subsidiary of State Bank of India, India's premier banking group .

Eligibility : 

First class in last qualifying exam
Self / Parent having independent source of income owning residential premises in Mumbai

Loan Details

Coverage of expenses 

  • Fee payable to College/School/hostel.
  • Examination/library/laboratory fee.
  • Purchase of books/equipments/instruments/uniforms.
  • Caution deposit/building fund/refundable deposit supported by institution bills/receipts.
  • Travel expenses/passage money for studies abroad.
  • Purchase of computers-essential for the completion of the course.
  • Any other expense required to complete the course- like study tours, project work, Thesis etc.


  • For studies in India - Maximum Rs.7.50 lacs.
  • For studies Abroad - Maximum Rs.15.00 lacs.


  • 20% of total cost


  • Collateral security by way of mortgage of immovable property / any other specified securities to cover 100% of loan amount

Processing Charges

1% of loan amount

Rate of Interest

As per bank rule.


Interest to be serviced regularly during moratorium period (MP).

After MP entire outstanding in loan account will be treated as Principal for calculating future EMI's repayable in 10 years after date of first disbursement.


Maximum period 10 years including duration of course
Moratorium period not exceeding six months after completing the course or securing a job, whichever is earlier

Prepayment : No pre-payment penalty

Disbursement : In stages - as per requirement, directly to institution /university etc


Contact Details

Corporate Office & Nariman Point Branch:
SBI Commercial and International Bank Ltd
Maker Chambers III, Nariman Point, Mumbai - 400 021
Phone : 022-40043210, 40043155
Fax : 022-22042280

Lokhandwala Complex Branch :
SBI Commercial and International Bank Ltd
Nebula Apartments, 4 th Cross Lane, Lokhandwala Complex,
Andheri (W), Mumbai - 400 053
Phone : 022-2631 5574
Fax : 022-2631 5539

E-mail : Contact Now
Website : visit

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.