SBI Education Loan College List 2024: Colleges & Loan Application

Vaishali Pandey
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September 23, 2024

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Complete SBI Education Loan College List 2024

SBI, a leading national financial institution, offers various education loan options to help Indian families and students overcome the challenge of affording higher education costs. The SBI Education Loan program supports domestic and foreign studies, catering to various higher education programs, including degrees, diplomas, and vocational training. With flexible options to accommodate different financial needs, SBI's education loans provide an accessible way for students to pursue their academic aspirations. 

This blog presents a comprehensive SBI Education Loan College List for 2024.

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Types of SBI Education Loan

Types of SBI Education Loan

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Loan Parameter SBI Student Loan Scheme SBI Scholar Loans (For colleges under SBI Premier Institute List) SBI Global Ed-Vantage Scheme
Loan Limit Up to ₹30 lakhs for medical courses
Up to ₹10 lakhs for other courses (maximum up to ₹50 lakhs, depending on the case)		 Up to ₹1.5 Crore for abroad education
For unsecured loans:
₹50 lakhs (List AA)
₹40 lakhs(List A)
₹30 lakhs (List B)
₹7.5 lakhs to ₹30 lakhs (List C)
There is no upper limit for secured loans		 ₹20 lakhs to ₹1.5 Cr
Secured/Unsecured Loan Secured/Unsecured both options available. Students can choose based on the maximum loan amount required Secured/Unsecured both options available. Students can choose based on the maximum loan amount required Secured
Interest Rate 11.15%
  • AA List: IITs - 8.10%, Other Institutions - 8.05%
  • A List: IITs - 8.15%, Other institutions - 8.65%
  • B List: NITs - 8.65%, Other institutions - 9.15%
  • C List: NITs - 8.65%, Other institutions - 9.65%
 11.15% (including interest rate concession)
Interest Rate Concession For girls students: 0.50%
SBI Rinn Raksha or Any other bank policies: 0.50%		 For girls students: 0.50%
SBI Rinn Raksha or Any other bank policies: 0.50%		 For girls students: 0.50%
SBI Rinn Raksha or Any other bank policies: 0.50%
Loan Margin Up to ₹4 lakhs - 0%
Above ₹4 lakhs - 5%		 Zero (Bank charge margins depend on the ranking of colleges.) Up to ₹4 lakhs - 0%
Above ₹4 lakhs - 5%
Processing Fees Loans up to ₹20 lakhs - ₹0
Loans above ₹20 lakhs - ₹10,000+ TAX		 Zero Loans up to ₹20 lakhs - ₹0
Loans above ₹20 lakhs - ₹10,000+ TAX
Moratorium Period Course Duration + 6 months Course Duration + 12 months after the course completion or 6 months after employment (whichever is earlier) Course Duration + 6 months post-course completion
Repayment Duration Up to 15 years post the moratorium period Up to 15 years after the moratorium period completion Up to 15 years after the moratorium period completion

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Note: Please refer to the official SBI bank website or consult your nearest branch to learn the current interest rates.

Also Read: SBI Education Loan- Eligibility and Interest Rates (2024)

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SBI Scholar Loan College List

The SBI Scholar loan is directly targeted at students pursuing education from premium institutions in the country, such as IITs, IIMs, NITs, and ISB. The SBI Education Loan College list for scholar loan is  further categorised into four lists: List AA, List A, List B, and List C. Based on this, the maximum loan limit is different for students of institutions belonging to various lists. 

Here is the SBI Education Loan College List categorised under 4 lists: 

List AA - SBI Education Loan College List

SBI Education Loan College List Location
Indian Institute of Management (IIM), Ahmedabad Gujarat
Indian Institute of Management (IIM), Bangalore Karnataka
Indian Institute of Management (IIM), Calcutta West Bengal
Indian Institute of Management (IIM), Indore Madhya Pradesh
Indian Institute of Management (IIM), Indore - Mumbai Campus Maharashtra
Indian Institute of Management (IIM), Kozhikode Kerala
Indian Institute of Management (IIM), Lucknow Uttar Pradesh
Indian Institute of Management (IIM), Lucknow - Noida Campus Uttar Pradesh
Indian School of Business (ISB), Hyderabad Telangana
Indian School of Business (ISB), Mohali Punjab
Xavier Labour Relations Institute (XLRI), Jamshedpur Jharkhand

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List A- SBI Education Loan College List

SBI Education Loan College List State
Birla Institute of Technology & Sciences (BITS), PilaniRajasthan
BITS (Pilani) - Goa CampusGoa
BITS (Pilani) - Hyderabad CampusTelangana
Indian Institute of Corporate Affairs (IICA), ManesarHaryana
Indian Institute of Foreign Trade (IIFT), DelhiDelhi
Indian Institute of Foreign Trade (IIFT), KolkataWest Bengal
Indian Institute of Management (IIM), AmritsarPunjab
Indian Institute of Management (IIM), BodhgayaBihar
Indian Institute of Management (IIM), JammuJammu and Kashmir
Indian Institute of Management (IIM), KashipurUttarakhand
Indian Institute of Management (IIM), NagpurMaharashtra
Indian Institute of Management (IIM), RaipurChhattisgarh
Indian Institute of Management (IIM), RanchiJharkhand
Indian Institute of Management (IIM), RohtakHaryana
Indian Institute of Management (IIM), SambalpurOdisha
Indian Institute of Management (IIM), ShillongMeghalaya
Indian Institute of Management (IIM), SirmaurHimachal Pradesh
Indian Institute of Management (IIM), TrichyTamil Nadu
Indian Institute of Management (IIM), UdaipurRajasthan
Indian Institute of Management (IIM), VisakhapatnamAndhra Pradesh
Indian Institute of Technology (IIT), BhilaiChhattisgarh
Indian Institute of Technology (IIT), BhubaneshwarOdisha
Indian Institute of Technology (IIT), ChennaiTamil Nadu
Indian Institute of Technology (IIT), DelhiDelhi
Dept of Management Studies, IIT DelhiDelhi
Indian Institute of Technology (IIT), DharwadKarnataka
Indian Institute of Technology (IIT), GandhinagarGujarat
Indian Institute of Technology (IIT), GoaGoa
Indian Institute of Technology (IIT), GuwahatiAssam
Indian Institute of Technology (IIT), HyderabadTelangana
Indian Institute of Technology (IIT), IndoreMadhya Pradesh
Indian Institute of Technology (IIT), JammuJammu and Kashmir
Indian Institute of Technology (IIT), JodhpurRajasthan
Indian Institute of Technology (IIT), KanpurUttar Pradesh
Department of Industrial & Management Engineering, IIT KanpurUttar Pradesh
Indian Institute of Technology (IIT), KharagpurWest Bengal
Indian Institute of Technology (IIT), MandiHimachal Pradesh
Indian Institute of Technology (IIT), MumbaiMaharashtra
Indian Institute of Technology (IIT), PalakkadKerala
Indian Institute of Technology (IIT), PatnaBihar
Indian Institute of Technology (IIT), RoorkeeUttarakhand
Indian Institute of Technology (IIT), Rupnagar (Ropar)Punjab
Indian Institute of Technology (IIT), TirupatiAndhra Pradesh
Indian Institute of Technology (IIT), VaranasiUttar Pradesh
Indian School Of Mining (ISM), DhanbadJharkhand
Institute of Management Technology (IMT), GhaziabadUttar Pradesh
Kasturba Medical College (KMC), MangaloreKarnataka
Kasturba Medical College (KMC), ManipalKarnataka
Management Development Institute (MDI), GurgaonHaryana
Management Development Institute (MDI), MurshidabadWest Bengal
Manipal Institute of Technology (MIT), ManipalKarnataka
National Institute of Industrial Engineering (NITIE), MumbaiMaharashtra
Nirma Institute of Management, AhmedabadGujarat
S P Jain Institute of Management and Research (SPJIMR), MumbaiMaharashtra
Shailesh J. Mehta School of Management (SJMSOM), IIT MumbaiMaharashtra
Symbiosis Centre For Management & HRD (SCMHRD), PuneMaharashtra
Symbiosis Institute of Business Management (SIBM), PuneMaharashtra
T. A. Pai Management Institute (TAPMI), ManipalKarnataka
Xavier Institute of Management (XIM), XUB-BhubaneswarOdisha
Xavier School of Human Resource Management, BhubaneswarOdisha
Xavier School of Rural Management (XSRM), XUB-BhubaneswarOdisha

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List B- SBI Education Loan College List

SBI Education Loan College List State
Army College of Dental Sciences (ACDS), SecunderabadTelangana
Army College of Medical Sciences (ACMS), Delhi CanttDelhi
Army Institute of Law (AIL), MohaliPunjab
Army Institute of Management (AIM), KolkataWest Bengal
Army Institute of Technology (AIT), PuneMaharashtra
Bharathidasan Institute of Management (BIM), TiruchirapalliTamil Nadu
Birla Institute of Technology (BIT), Mesra, RanchiJharkhand
College of Engineering, PuneMaharashtra
Delhi College of Engineering (DCE), DelhiDelhi
Dhirubhai Ambani Institute of Information & Communication Technology (DAIICT), GandhinagarGujarat
Faculty of Engineering & Technology, Jadavpur University, KolkataWest Bengal
Faculty of Management Studies (FMS), DelhiDelhi
Goa Institute of Management (GIM), GoaGoa
ICFAI Business School (IBS), HyderabadTelangana
International Institute of Information Technology (IIIT), HyderabadTelangana
Indian Institute of Science (IISc), BangaloreKarnataka
Indraprastha Institute of Information Technology (IIIT), DelhiDelhi
International Management Institute (IMI), KolkataWest Bengal
International Management Institute (IMI), New DelhiDelhi
International Management Institute (IMI), BhubaneswarOdisha
Jamnalal Bajaj Institute of Management Studies (JBIMS), MumbaiMaharashtra
Kalinga Institute of Medical Science (KIMS), BhubaneswarOdisha
Kirloskar Institute of Advanced Management Studies (KIAMS), BangaloreKarnataka
Marine Engineering & Research Institute, KolkataWest Bengal
Manipal School of Architecture and Faculty of ArchitectureKarnataka
Manipal College of Dental SciencesKarnataka
Mudra Institute of Communication (MICA), AhmedabadGujarat
National Institute of Bank Management (NIBM), PuneMaharashtra
Narsee Monjee Institute of Management Studies (NMIMS), MumbaiMaharashtra
National Institute of Technology (NIT), SurathkalKarnataka
National Institute of Technology (NIT), TiruchirapalliTamil Nadu
National Law School of India University (NLSIU), BangaloreKarnataka
National Law University (NLU), JodhpurRajasthan
Prin. L. N. Welingkar Institute of Management, Development & Research (WeSchool), MumbaiMaharashtra
Thapar University, PatialaPunjab
Visvesvaraya National Institute of Technology (VNIT), NagpurMaharashtra

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List C- SBI Education Loan College List

SBI Education Loan College List State
Centre for Environmental Planning & Technology (CEPT), AhmedabadGujarat
Chandragupt Institute of Management, PatnaBihar
Dr B R Ambedkar National Institute of Technology (NIT), JalandharPunjab
Indian Institute of Forest Management (IIFM), BhopalMadhya Pradesh
Indian Institute of Petroleum and Energy (IIPE), VisakhapatnamAndhra Pradesh
Kalinga Institute of Industrial Technology (KIIT) University School of Management (SOM)Odisha
Kalinga Institute of Industrial Technology (KIIT) University School of Technology (SOT)Odisha
L N Mittal Institute of Information & Technology (LNMIIT), JaipurRajasthan
Loyola Institute of Business Administration (LIBA), ChennaiTamil Nadu
Maharishi Markandeshwar University (MMU) Medical College, HaryanaHaryana
Malaviya National Institute of Technology (NIT), JaipurRajasthan
Maulana Azad National Institute of Technology (NIT), BhopalMadhya Pradesh
MIT-World Peace University (MIT-WPU), PuneMaharashtra
NIT Motilal Nehru National Institute of Technology, AllahabadUttar Pradesh
M S Ramaiah Institute of Technology (MSR-IT), BengaluruKarnataka
M S Ramaiah Medical College (MSR-MC), BengaluruKarnataka
M S Ramaiah Institute of Management (MSR-IM), BengaluruKarnataka
National Institute of Construction Management & Research (NICMAR), PuneMaharashtra
National Institute of Food Technology Entrepreneurship and Management (NIFTEM), SonepatHaryana
National Institute of Technology (NIT), AgartalaTripura
National Institute of Technology (NIT), Arunachal PradeshArunachal Pradesh
National Institute of Technology (NIT), CalicutKerala
National Institute of Technology (NIT), DelhiDelhi
National Institute of Technology (NIT), DurgapurWest Bengal
National Institute of Technology (NIT), GoaGoa
National Institute of Technology (NIT), HamirpurHimachal Pradesh
National Institute of Technology (NIT), JamshedpurJharkhand
National Institute of Technology (NIT), KurukshetraHaryana
National Institute of Technology (NIT), ManipurManipur
National Institute of Technology (NIT), MeghalayaMeghalaya
National Institute of Technology (NIT), MizoramMizoram
National Institute of Technology (NIT), NagalandNagaland
National Institute of Technology (NIT), PatnaBihar
National Institute of Technology (NIT), PuducherryPondicherry
National Institute of Technology (NIT), RaipurChattisgarh
National Institute of Technology (NIT), RourkelaOdisha
National Institute of Technology (NIT), SikkimSikkim
National Institute of Technology (NIT), SilcharAssam
National Institute of Technology (NIT), SrinagarJammu and Kashmir
National Institute of Technology (NIT), TadepalligudemAndhra Pradesh
National Institute of Technology (NIT), UttarakhandUttarakhand
National Institute of Technology (NIT), WarangalTelangana
National University of Juridical Sciences (NUJS), KolkataWest Bengal
Netaji Subhas Institute Of Technology (NSIT), DelhiDelhi
Sardar VallabhBhai National Institute of Technology (NIT), SuratGujarat
School of Planning & Architecture, New DelhiDelhi
Symbiosis Institute of Management Studies (SIMS), PuneMaharashtra
Symbiosis Institute of Telecom Management (SITM), PuneMaharashtra
Symbiosis Institute of International Business (SIIB), PuneMaharashtra
Symbiosis School of Banking and Finance, PuneMaharashtra
University College of Engineering (UCE), OdishaOdisha
Xavier Center For Urban Management and Governance (XUMG) (MBA-UMG)Odisha
Xavier School of Commerce (XSC)Odisha
Xavier School of Sustainability (XSOS)Odisha

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Other SBI Education Loan Schemes

If your dream college is not mentioned in the SBI Education Loan College list, don’t worry! While the SBI Scholar loan applies exclusively to premier educational institutions in India, you can consider other education loan plans by SBI to pursue education from abroad.

 If you are looking for an SBI education loan college list abroad, or colleges within India not mentioned in the SBI Education Loan College list, you must be eyeing these education loans: 

  • SBI Global Ed-Vantage Scheme 
  • SBI Student Education Loan 

These loans apply to any recognised institution within India not mentioned in the SBI Education Loan College list or abroad universities.  Here is a list of courses covered under each loan scheme: 

SBI Education Loan Name Courses Covered
SBI Student Education Loan Studies in India
  • Graduation and post-graduation, including regular technical and professional diploma/degree courses conducted by colleges/universities approved by AICTE/UGC/IMC/Govt., etc.
  • Regular Degree/ Diploma Courses held by autonomous institutions like IIT, IIM, etc.
  • Regular Degree/Diploma Courses such as Aeronautical, pilot training courses, shipping, etc., approved by the Director General of Civil Aviation/Shipping or the concerned regulatory authority.
  • Teacher training/ Nursing courses approved by the State or Central government.
  • Job-oriented professional or technical Graduation Degree courses or Postgraduate Degree and Diploma courses like MCA, MBA, MS, etc., offered by recognised universities.
  • Courses held by the Chartered Institute of Management Accountants—London, CPA (Certified Public Accountant) in the USA, etc.
Studies Abroad
  • Job-oriented professional/technical Graduation Degree courses/Postgraduate Degree and Diploma courses such as MBA, MCA, MS, etc., offered by reputed universities.
  • Courses held by Chartered Institute of Management Accountants (CIMA)—London, CPA (Certified Public Accountant) in the USA, etc.
SBI Global Ed-Vantage Scheme Regular Post Graduate/Graduate/Doctorate Courses offered in any discipline by foreign Institutes/Universities in the USA, Canada, UK, Australia, Europe, Singapore, Hong Kong, Japan, and New Zealand.

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Also Read: SBI Education Loan for Abroad 2024: Interest Rates and How to Apply

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How to Apply for an SBI Education Loan 

You can apply for an SBI's education loan schemes in person or online to financially assist your education and get into any institution mentioned in the SBI Education Loan College List.

How to Apply for an SBI Education Loan 

Offline:

  • Step 1: Reach your nearest SBI branch with the required documents. 
  • Step 2: Submit the completed application form which you will get there.

Online

  1. Step 1: Visit the SBI's official website. 
  2. Step 2: Click on ‘Education loan’. 
  3. Step 3: Select your preferred education loan. 
  4. Step 4: Click on 'Apply Now'. 
  5. Step 5: A representative from SBI bank will contact you.

Looking forward to becoming a doctor? You can get an SBI Education loan for MBBS! Read this blog to know more. 

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Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility. 

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Documents Required For SBI Education Loan 

Now that you have the SBI Education loan college list as well as instructions on how to apply, let's take a look at the documents required: 

Category Documents Required
For Students
  • Admission letter from the institution
  • Academic records (mark sheets, degrees, etc.)
  • Proof of age (birth certificate, passport, etc.)
  • Income proof of parents/guardians (salary slips, income tax returns, etc.)
For Co-Applicants or Guarantors
  • Identity proof (Aadhaar card, PAN card, etc.)
  • Proof of residence (utility bills, rental agreement, etc.)
  • Income proof (salary slips, income tax returns, bank statements, etc.)
  • Asset and liability details
Additional Documents (if applicable)
  • Fee structure from the institution
  • Certificate of language proficiency (for overseas studies)
  • Passport and visa copies (for overseas studies)
  • Quotations for cost estimates (for courses abroad)

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Banks and NBFCs Providing Education Loan: A Comparison

Feature Bank of Baroda State Bank of India Punjab National Bank Axis Bank Bank of India Propelld
Applicable Rate of Interest Depending on the institution, it ranges from MCLR+ 0.75% to 10.05%
  • Up to 3 Years: BR+1.50%
  • Above 3 Years: 1.50% + Term Premium (BR is at the rate of 10.00%)
  • Up to 4 Lacs: 16.50%
  • Up to 7.5 Lacs: 17.50%
  • Above 7.5 Lacs: 15.50%
 Not specified 8.35 - 11.05% 12% pa onwards
Max Loan with Collateral INR 40 Lacs
  • For AA Category: 40 Lacs
  • For A Category: 20-30 Lacs
  • For B Category: 20 Lacs
  • For C Category: 7.5 Lacs
 7.50 Lacs to 15 Lacs 10 Lacs
  • BOI Star Education Loan- INR 20 Lakh
  • BOI Star Vidya Loan- INR 40 Lakh
  • Up to 50 Lacs without collateral
  • Up to 2 Crores with collateral
Max loan without collateral INR 80 Lacs
  • For AA Category: 40 Lacs
  • For A Category: 20-30 Lacs
  • For B Category: 20 Lacs
  • For C Category: 7.5 Lacs
 7.50 Lacs to 15 Lacs 10 Lacs INR 7.5 Lacs 50 Lacs
Processing Fee Nil Up to INR 4 Lakhs: No
Above INR 4 Lakhs: INR 5,000		 Nil Nil No Margin up to 4 Lacs 1-3% of the loan amount
Repayment Period
  • Up to INR 7.5 Lacs: 10 years.
  • Above INR 7.5 Lacs: 15 years
 15 years 15 years 7 Years 15 Years 15 Years
Margin Nil Scholar Loan Scheme: Nil 5% (above 4 Lacs)
  • Up to loan 4 Lacs: No margin
  • Above 4 Lacs for India: 5%
 Nil up to 4 Lacs 1st year- 20% Margin
Other years- Nil
Loan Security
  • Up to 4 lacs: No security required
  • 4 to 7.50 Lacs: Third-party guarantee
  • Above 7.50 Lacs: Tangible collateral security equal to 100% of the loan amount
  • Up to INR 4 Lacs: Parents as co-borrower
  • INR 4 to 7.50 Lacs: Parent and third-party guarantee
  • Above INR 7.50 Lacs: Tangible security with parents as co-borrower
 Co-obligation of parents/guardians as joint co-borrowers Third-party guarantee
Collateral security
Assignment of LIC policy (100% of the loan amount)
Assignment of future salaries		 Collateral required for loans above 7.5 Lacs Collateral not required
Processing Time N.A 20 days 15 Days 14 Days 15- 20 days 10 times faster than Banks

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Interested in getting an education loan to fund your education? 

Getting an education loan as a student might be overwhelming. There is so much paperwork, and the process is filled with low approval rates, adding to the hassle. 

Propelld solves this problem by offering an education loan exclusively designed for students. Propelld Education loans have a 100% digital process with higher approval rates. 

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Why Propelld?

There are several other benefits of opting for a Propelld education loan. They are: 

Feature Details
Max Loan Amount50 Lacs
CollateralNot Required
MoratoriumAvailable
Processing Time10 Times Faster than Banks
Disbursal Time7 Days
Approval RateHigher than Banks
Special USPMarks Based Approval
% Financed100% of Fees

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‍

Education Loan for Medical Colleges

MBBS | BDS | BAMS | Bsc Nusring |Or Pay Fees for Any Medical Course in India - Up to. Rs. 50 Lacs

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FAQs About SBI Education Loan College List

What is the SBI Scholar Loan College List?

The SBI Scholar Loan is available for students admitted to top-tier institutions in India, such as IITs, IIMs, NITs, and several others. The college list includes universities and institutions recognised by the central government, UGC, or AICTE. Students can check the list on the SBI website or their nearest SBI branch.

Are only premier institutes eligible for the SBI Scholar Loan?

Yes, the SBI Scholar Loan is exclusively available for premier institutions, such as IITs, IIMs, NITs, and other select universities. Other institutions may qualify for different loan schemes, like the Global Ed-Vantage Loan​.

Is SBI Education Loan applicable to any college in India?

You can apply for an SBI Student Loan for various recognised institutions across India. However, for the Scholar Loan scheme, only selected colleges (primarily IITs, IIMs, NITs, etc.) are eligible​.

Where can I find the list of colleges eligible for the SBI Scholar Loan?

The SBI website provides a downloadable PDF listing all the approved colleges under the SBI Scholar Loan scheme. You can also go to your nearest SBI branch and ask for the list​.

What is the maximum loan amount for students admitted to these colleges?

For students admitted to premier institutions on the SBI Scholar Loan list, the maximum loan amount is up to INR 40 lakhs, with flexible repayment terms​.

Do students need collateral for an SBI Scholar Loan?

Collateral is required for loans above INR 7.5 lakhs. However, depending on the college category (AA, A, B, or C)​, loans under INR 7.5 lakhs may not need collateral.

What is the interest rate for students on the SBI Scholar Loan College list?

Interest rates for students from premier institutions typically start at 8.65% p.a. However, interest rates can vary based on the institution's category​.

Is there any concession for female students?

SBI offers a 0.5% interest rate concession for female students under the Scholar Loan scheme​.

Can I apply for any SBI education loan to study abroad?

No, the SBI Scholar Loan is only available for studying in India. If you wish to pursue your education abroad, you can apply for the Global Ed-Vantage Loan​.

What are the documents required for availing of an SBI Scholar Loan?

Students must submit proof of admission, KYC documents, academic records, proof of identity, and co-borrower documents. Collateral documents are required for loans above INR 7.5 lakhs​.

What happens if my college is not on the SBI Scholar Loan list?

If your college is not on the approved list for the Scholar Loan, you may still qualify for other SBI education loan schemes like the Student Loan or Skill Loan, depending on the institution's recognition​.

Can I use the loan for non-academic expenses like travel?

Yes, the SBI Scholar Loan covers various expenses, including tuition, examination fees, library fees, travel expenses, and even the purchase of a laptop if necessary for the course​.

What is the repayment period for the SBI Scholar Loan?

The loan repayment period is up to 15 years, with a one-year grace period post-course completion. Interest accrued during the study period can be added to the loan​.

Can students avail of tax benefits on interest paid for the education loan?‍

Yes, students can claim tax benefits applicable to SBI education loans under Section 80E for up to 8 years​.

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