Student Loans

Student Loans

State Bank of India (SBI) Scholar Loan Scheme

 

 

Institutions

Programs

Category

* Interest Rate (%)

Effective Interest Rate (%)

Kasturba Medical College (KMC), Manipal

MBBS, MD, MS

List A

MCLR + 50 bps

9.05%

Manipal College of Dental Sciences (MCODS), Manipal

MDS

List B

MCLR + 100 bps

9.55%

Manipal Institute of Technology (MIT), Manipal

BTech, MTech, MCA

List A

MCLR + 50 bps

9.05%

Faculty of Architecture (FOA)

BArch, MArch

List B

MCLR + 100 bps

9.55%

*MCLR: Marginal Cost of funds based Lending Rate (8.55 %)

 

Key Features:

  1. NO Processing Fee
  2. Loan covers all expenses related to education
  3. Repayment period of upto 15 years after Course Period + 12 months of repayment holiday. In case second loan is availed from SBI for higher studies later, to repay the combined loan amount in 15 years after completion of the second course.
  4. Income Proof of parents not mandatory*
  5. Servicing of Interest not mandatory during course
  6. The tuition fee already paid to the institute by the students from their own sources for the first semester at time of counseling/admission may be considered for reimbursement if claimed within 6 months of the payment.

Note

State bank Of India (SBI) Manipal branch is the nodal branch for sanction of Education Loans for the above 4 institutes. Please email State bank of India (SBI) Manipal at sbi.04426@sbi.co.in for updated information & clarifications. Click here for more Information on SBI Scholar Loan Scheme