State Bank of Hyderabad-
Contact Number :
44 24349029, 24322611
Rules and Regulations
Purpose : To extend financial assistance to all eligible / deserving / meritorious students for pursuing higher education in India & Abroad.
Eligibility :
* Student Should be an Indian National.
* Secured admission to professional/ technical courses through Entrance Test /
Selection process.
* Secured admission to foreign University / Institution.
Amount of finance :
Need based finance subject to repaying capacity of the parents / students.-
Studies in India - Maximum Rs.10.00 lacs
Studies abroad - Maximum Rs.20.00 lacs
Margin money :
Upto Rs.4.00 Lacs - NIL
Above Rs. 4.00 Lacs
Studies in India - 5% AND Studies Abroad - 15%
- Scholarship /assistantship to be included in margin.
- Margin may be brought in on year to year basis as and when
disbursements are made on a pro-rata basis.
Security Norms :
Upto Rs. 4.00 Lacs - No Security (Co-obligation of parent / guardian is compulsory).
Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.
Above Rs.7.50 Lacs: - Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments.
Penal rate of Interest : @2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period.
Repayment Period: Course period + one year or six months after getting job, whichever is earlier. 5 to 7 years after commencement of repayment.
Processing Charges: No processing charges for studies abroad upto Rs.4.00 Lacs and in case of studies in India irrespective of loan amount.
In case of loans above Rs.4.00 Lacs for studies abroad.
- 1. Rs. 5000/- to be collected at the time of delivering sanction letter to the student / guardian.
- 2. Rs.1000/- to be appropriated towards processing fees.
- 3. Rs.4000/- to be adjusted towards student''''s margin at the time of release of the loan.
- 4. In case the loan is not availed for any reason by the student, the amount of Rs.4000/- to be refunded to the student without interest.
No processing charges to be levied on the loans to the wards of Bank''''s staff members including Retired Staff.
Rate of Interest :
Upto Rs. 4.00 Lacs Not to exceed BPLR
Above Rs4.00 Lacs Not to exceed BPLR +1%
Present Interest Rates:
Loans upto Rs. 4.00 Lacs 11.50% (1% less than BMPLR)
Loans above Rs4.00 Lacs & UP TO Rs.10.00 Lacs 12.50%
(0.50% less than BMPLR)
Loans above Rs.10.00 Lacs - 13.00% (At BMPLR)
Apply Online: www.sbhyd.com http:>http://www.sbhyd.com/student_eduloanform.asp