Interest subsidy for Education Loans from State Bank of India.

State Bank of India is one of the country's leading bankers. State Bank of India distributes many types of loans like Housing Loan, Educational Loan, Business Loan, Personal Loan etc. Now, the Ministry of Human Resources, Government of India has announced Subsidy on Interest payable on Educational Loans obtained from the State Bank of India for the students from economically weaker sections of the society.

Details on Interest subsidy for Education Loans from State Bank of India.

This Subsidy on Interest of Educational Loans availed from State Bank of India Scheme is applicable for the academic year 2009-2010. This is a central project from Government of India for the students availing Educational Loans from State Bank of India.

Eligibility for Interest subsidy for Education Loans from State Bank of India.

The students who have obtained Educational loan from the State Bank of India shall submit a request from the State Bank of India branch from which they have obtained the Educational loan for the subsidy on Interest on Educational loans offered by the Government of India, Ministry of Human Resources. The following are the eligibility conditions for getting the Subsidy on interest on Educational Loans obtained from State Bank of India:

* The student who availed the Educational Loan from State Bank of India shall pursue Higher Technical Education or Professional course in India;
* The annual income of the parents of the student should be up to Rs.4.5 Lakhs; and
* The Educational Loan from State Bank of India should have been obtained during the academic year 2009-2010.

The request for subsidy on interest may be submitted to the Bank Branch of State Bank of India along with a Salary Certificate of the parents duly issued by the Tahsildar or nominated authorized Officer for this purpose.

Preference will be given for those applications for Interest subsidy received on or before March 15, 2011.

To know more details about Interest subsidy for Education Loans from State Bank of India, please call on 1800-11-2211 or please make a visit to: www.sbi.co.in

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