Education Loans

Education Loans

Education Loans

Vidya Lakshmi Portal for Student Education Loans

 

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan. This portal has been developed under the guidance of Department of Financial Services (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA). The portal has been developed and being maintained by NSDL e-Governance Infrastructure Limited. Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. Click here for more details

 

 

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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 %

Kasturba Medical College (KMC), Mangalore

MBBS, MD, MS

List B

MCLR + 100 bps

9.5 %

Manipal College of Dental Sciences (MCODS), Manipal

MDS

List B

MCLR + 100 bps

9.5 %

Manipal Institute of Technology (MIT), Manipal

BTech, MTech, MCA

List A

MCLR + 50 bps

9 %

Faculty of Architecture (FOA)

BArch, MArch

List B

MCLR + 100 bps

9.5 %

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. Servicing of Interest not mandatory during course
  5. 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.

 

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 (manipaledu.lhoban@sbi.co.in) for updated information & any clarifications.

Click here for more Information (https://sbi.co.in/portal/web/student-platform/scholar-loan)