Complete details of SBI education plus loan in Tamilnadu

The SBI education plus loan is specially meant for those who are willing to continue their higher education through distance education courses or part-time courses. The loan is sanctioned to the employees of state government, central government or private firms etc.

Complete details of SBI education plus loan in Tamilnadu

State bank of India have initiated three kinds of loans to pursue higher studies they are
1. Student loan scheme which is specially meant for continuing higher education like graduation/ post graduation or any other research work etc.
2. SBI career loan is meant for the student who want to pursue their higher education in the field of training oriented like pilot training or skill development courses. After covering all education sectors the bank left to cover the students who are continuing their higher education over Distance Education and par-time course. So, considering the left out cases the bank announced the SBI education plus scheme which was most welcomed by the majority of students doing courses under distance education.

Eligibility criteria for obtaining SBI education plus

The applicant should be an employee of any central or state government. Employees of reputed private firm can also be taken for this purpose. He/She must completed two years of continuous service in their firm, department or organization. The candidate must obtain prior permission for continuing the course or any certificate from the employer should also be submitted along with the application seeking for SBI education plus loan.

The courses undertaken should be approved by the competent authority. In addition to these, the institution in which the candidate pursuing his/her studies should also be recognized or approved as the case may be. The loan amount will not be sanctioned to those distance education colleges who are not recognized by the state authority or central authority.

Loan limit of SBI education plus and the repayment details

One can get loan from Rs 25000 to Rs 100000 as per their request but the bank reserves the right to increase or decrease the loan amount as the case may be. Monthly salary certificate should also be obtained from the employer under the income certificate the applicant may get 15 times under the limit range. The total amount of the loan has to be repaid in 60 monthly equal installments from the month of payment of the loan.

Note: For more information visit the nearest SBI branch.

Related articles:
SBI student loan
SBI career loan

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