Educational Loans – SBI Commercial and International Bank
SBI Commercial and International Bank
Bank Type : Private Bank
Provided study loan amount in Abroad
Eligibility :
Criteria First class in last qualifying exam.Self / Parent having independent source of income owning residential premises in Mumbai
Margin:
20% of total cost.
Processing Fee :
1% of loan amount
Re-Payment :
Interest to be serviced regularly during moratorium period (MP).After MP entire outstanding in loan account will be treated as Principal for calculating future EMI’s repayable in 10 years after date of first disbursement
Security :
Collateral security by way of mortgage of immovable property / any other specified securities to cover 100% of loan amount
Documents :
1.Attested copy of latest salary slip of self / parent and Form 16 for salaried employees.
2. Income tax returns for the last 3 years for self-employed persons.
3. Pass book or bank statements for last six months
4. Proof of Age and Residence of Self / Parent.
5. Certificate / Mark Sheet of last qualifying exam.
6. Details of proposed course
7. Copy of sale agreement, share certificate, NOC from society/builder or documents pertaining to other collateral as applicable.
Documentation 1. Promissory Note 2. D. P. Note Delivery Letter 3. Documents pertaining to collateral security 4. Authority letter in duplicate from borrower authorizing salary deduction or PDCs 5. No dues affidavit 6 All documents to be signed jointly by the student and parent / guardian
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