Loan Policy Of State Bank Of Hyderabad

I am looking for education Loan Policy Of State Bank Of Hyderabad ,so will you plz let me know about the same , as I want to apply for its education loan ??

[KunwarR]

As you asking i am tellign State Bank of Hyderabad sanctions education loans to deserving students, who aspire to pursue their higher education in India or abroad.

Interest Rates:

For loans up to Rs. 4.00 Lacs - 11.50%
Loans ranging from Rs. 4.00 Lacs up to Rs.10.00 Lacs – 12.50%
Loans above Rs.10.00 Lacs - 13.00%

Fees/charges:

For loans up to Rs.4.00 Lacs there is no processing charges for studies in India and Abroad.

In case of loans above Rs.4.00 Lacs for studies abroad the following charges are applicable:

At the time of giving the sanction letter to the student/guardian, Rs. 5000/- is collected by the Bank.

Rs.1000/- is charged as processing fees.

Rs.4000/- is levied as student's margin when the loan is released.
In case the loan is not availed by the student, Rs.4000/- is refunded to the student without interest.

Processing charges are not levied on the loans to the wards of Bank's staff members including retired staff.

Loan Limit:

Maximum loan limit is Rs.10.00 lacs for studies in India; and

Maximum loan limit is Rs.20.00 lacs for pursuing education abroad.

Security:

Security is not required to if the loan taken is less than Rs. 4.00 Lacs , But co-obligation of parent /guardian is mandatory. However, if the education loan is above Rs.4.00 Lacs and within Rs.7.50 Lacs, a suitable third party guarantee should be given as collateral.

Document required:

Completed Education Loan Application Form.
Mark sheets of last qualifying examination
Proof of admission scholarship, studentship etc.
Schedule of expenses for the specified course
2 passport size photographs
Borrower’s Bank account statement for the last six months
Income tax assessment order, of last 2 years
Brief statement of assets and liabilities, of the co-borrower
Proof of Income (i.e. Salary slips/ Form 16 etc.)