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State Bank of Saurashtra Education Loan: Application, Eligibility, Interest Rate, Documents & Much More.

The State Bank of Saurashtra is a government-owned bank in India. It is one of the seven Associate Banks of the State Bank of India. State Bank of Saurashtra is Merged with State Bank of India on 13 August 2008. It is also one of the oldest commercial banks in India, which also provides the facility of Education Loan. If you want Education Loan to complete your education or pursue higher studies from India or Abroad You are at the right place to collect every aspect of information related to Educational Loan in India.

State Bank of Saurashtra
State Bank of Saurashtra

Read this full post on State Bank of Saurashtra Education Loan for information Like Eligibility, How to apply, Interest Rates, Documents Needed, Different aspects of Education Loan, Interest Rates, Return Policy, General Instructions etc. Throughout the article, we will share information regarding State Bank of Saurashtra Education Loan it’s Process to Apply and full detailed Information.

State Bank of Saurashtra Education Loan

The major aim of the bank is to ensure banking anywhere and any time for the customer with the latest state-of-the-art technology. The Banks are always very serious about its Education Loan Facility and by developing an effective customer-centric relationship it promises to emerge as a world-class education Loan provider. Before we share further, let us first have a brief review of the Bank.


Profile Description
Name of Bank  State Bank of Saurashtra
Founded on 1902
Headquarter Gujarat
Type of Bank  Nationalised Bank
Number of Employees 866
Chairman Jagubhai S.Parikh
Maximum Loan Amount  Rs 20 Lakh
Timeline for Loan Disposal Maximum 15 Working days
Annual Revenue NA
Processing Fees No Processing Fee will be charged
Other Subsidiaries NA
Category  Education Loan in India

Types of State Bank of Saurashtra Education Loan

As State Bank of Saurashtra is merged with State Bank of India. So the Schemes Specified below are of State bank of India.

Subscribe Us to get Latest Updates from India's Top Universities. Schemes Description
1. Scholar Loan This loan is available for courses at select leading institutions in India like IITs, IIMs, NITs, AIIMS and other premier institutions. One can avail a loan up to Rs. 30 lakh.
2. Global Ed-Vantage This loan is exclusively for full-time regular courses at foreign colleges and universities. One can avail a loan from Rs. 20 lakh up to Rs. 1.5 crores.
3. Student Loan This loan is for pursuing higher education in India or abroad. One can avail a loan amount up to Rs. 10 lakh for studies in India and Rs. 20 lakh for studies abroad.
4. Skill loan SBI Skill Loan Scheme aims at providing a loan facility to individuals. who intend to take up skill development courses as per the Skilling Loan Eligibility Criteria. One can avail a loan amount from Rs 5000 to Rs 1.5 lac
5. Take Over of Educational Loan With this loan, you can switch your existing high-cost education loan to SBI and reduce your monthly EMIs (Equated Monthly Instalments).

How to Apply


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  • Visit official Web Site of State Bank of Saurashtra (Click Here)
  • Find the Educational Loan Section Apply Now Button
  • Fill the Online Application Form


  • Visit the nearest branch of State Bank of Saurashtra to get offline Education Loan form.
  • You may also download the form from official web handle.
  • Submit the Application Form to Nearest Branch along with document needed.


  • The applicant should be an Indian national.
  • Applicant must have secured an admission in a Government recognized educational/ Training Institute.

Documents Needed

  • Mark sheet of last qualifying examination for school and graduate studies in India
  • Academic Records: 10th Result, 12th Result, Graduation result-semester Wise (if Possible) Entrance Exam Result through which admission is being taken
  • Proof of admission: Offer Letter or Admission Letter from the Institution.
  • Schedule of expenses for the course
  • Copies of the letter confirming scholarship, etc.
  • Copies of foreign exchange permit, if applicable.
  • Two passport size photographs
  • Statement of Bank account for the last six months of the borrower
  • Income tax assessment order not more than 2 years old
  • A brief statement of assets and liabilities of the borrower.
  • If you are not an existing bank customer you would also need to establish your identity and give proof of residence.

Expenses Considered

  • Tuition and course fee
  • Examination, library and laboratory fees
  • Caution deposit
  • Cost of books, Uniforms, Equipment and other instruments.
  • Travel Expenses

Return Policy

  • In the case of State Bank of Saurashtra Education loan, repayment will start after the completion of course period +1 Year or moratorium period.
  • Repayment will commence 6 months after securing the job, whichever is earlier.
  • Repayment can be done up to a maximum of 15 years

EMI Calculator

EMI Calculator is used for calculating the periodic payment amount due on a loan. For calculating EMI one must input data like Amount, Interest Rate, tenure, Processing Fee etc.

  • If you want to calculate EMI for State Bank of Saurashtra Educational LoanClick Here


  • Up to Rs. 4 Lacs
    • Co-obligation of parents
    • No security
  •  Above Rs. 4 lacs and up to Rs. 7.5 Lacs
    • Co-obligation of parents together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as “joint borrower”.

Contact Details

Head office  New Administrative Building Nilambaug Chowk
Bhavnagar 364001, India
Official website
Apply for Loan  Click Here
Contact Number NA

State Bank of Saurashtra Student Loan FAQs

We hope that the information furnished above will guide you to get the best education loan for your studies. In case of any doubt regarding the loan procedure and other related terms, read our FAQ’s session.

Q1. Who can be my co-borrower?

Ans. Your parents/guardian can be a co-borrower as well as the spouse in case of a married applicant. The co-borrower should have a steady source of income and a good credit history in order to improve the applicant’s chances of a successful loan application.

Q2. How long does it take to process Education Loan?

Ans. Generally, the time taken for the education loan to process is somewhat between 7-10 working days. Often, the whole process can be easily completed within 3 to 5  Working days, once the student fulfils all documentation.

Q3. What all expenses will be covered by education loans?

Ans. Apart from the tuition fees, other aspects of expenses such as hostel charges, equipment purchases and other course-related expenses may also be covered by the education loan.

Q4. What are the courses for which an education loan can be availed?

Ans. An education loan can be availed for all courses recognized by the UGC in case of India and all regular courses abroad. Each lender has its own list of educational institutions and courses that they would provide a loan for whether overseas or within India.

Q5. Can a student avail another loan for further studies?

Ans. Yes, this is possible. You can borrow a loan for a bachelor’s degree followed by one for master’s without repaying the first loan. This loan can be taken as a top-up loan against the already existing loan; however, it is subject to the lending bank’s discretion and the internal rules and regulations of the lender.

Q6. Do education loans have any Income Tax benefits?

Ans. Loan borrowers can avail tax benefits on interest paid on education loan under Sec 80E of the Income Tax Act. This benefit is available over and above the Rs. 150,000 deduction allowed under Section 80C. Tax benefits can be availed once the borrower starts paying the interest on the education loan. Further, the deduction is available until the borrower pays off the full interest amount on the loan or for a maximum period of 8 years, whichever is earlier.

Q7. Why do banks require insurance policy?

Ans. Banks usually prefer that students avail a life insurance policy equivalent to, or more than, the loan amount. The policy acts as a security feature and forms a part of the collateral. In case of the untimely demise of the borrower, the bank recovers the outstanding loan amount from the student’s life insurance policy and the remaining amount, if any, is paid out to the beneficiary of the policy.

Q8. Is any incentive available for a girl student applying for education loan?

Ans. Banks generally provide a 0.5% concession on the applicable education loan interest rate to girl students pursuing higher education in India and abroad.

Q9. Are there any special privileges for students of SC/ST category who avail education loans?

Ans. Yes, eligibility criteria and loan margins on education loan are relaxed for Scheduled Caste/Scheduled Tribe students availing education loans in India. The eligibility criteria are lowered from first/second class to pass class for SC/ST category students seeking education loan for graduate and postgraduate studies, while, margin money is sometimes lowered than the regular percentage or nil.

Q10. Where can I avail on a State Bank of Saurashtra education loan?

Ans. The loan is available from all branches in metro/urban areas as well as those having personal banking divisions.

Best of Luck..!!

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About Shahbaz

Shahbaz is a computer engineer, having keen interest in sharing educational and career articles. For any queries & corrections comment below.

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