Banking as a system has been around for several centuries. Much before there was organized banking, money lending and charging of interest on the lent money was the simplest form of banking back in the ancient days by moneylenders. This evolved over the years into a more complex system, simplified by talented bankers into a proper banking system. State Bank of India is among some of the most popular names in the world of Indian banking. The bank has now taken a major step forward and has gone online. The SBI Online internet banking services offer the users with a large number of services. One of the core features of a bank is to give out loans. That too, is easily possible to apply for via the SBI Online loans.
The bank has now taken a major step forward and has gone online. The SBI Online internet banking services offer the users with a large number of services. One of the core features of a bank is to give out loans. That too, is easily possible to apply for via the SBI Online loans.
SBI provides a number of loans to people, one of the most common form of loans taken are that of the SBI Online Education Loans. The website allows the aspiring students to take a number of loans:
- For those who score admissions in top institutes such as IIMs, IITs, AIIMSs, NITs, etc. they can take a loan from SBI under SBI Scholar Loan Scheme.
- Those planning to take admission in foreign universities need to take a loan under the SBI Global Ed-Vantage Scheme.
- The bank also provides loans for those who wish to take up vocational or skill-development courses.
Apart from these, there are several other forms of loans that can be availed by students based on eligibility, courses covered, expenses covered, loan amount and security, loan repayment and EMI generation. Education loan can now be applied for online too. SBI Online internet banking services help the aspiring students reach the college of their choice without any financial difficulties. Let us take a look on how to apply for a loan online
How to Apply for SBI Online Education Loans
Step 1: Users need to go to the official website of the State Bank of India – sbi.co.in, or they can directly visit the SBI Online Education Loans webpage at (onlineapply.sbi.co.in/personal-banking/education-loan)
Step 2: Eligibility details need to be filled out –
- Purpose of Loan
- Course Details
- Country of study
- Course Name
- Course Type
- University Name
- Course Duration
- Institute Name
- Nature of Course
- Course Fee
- Admission Fee
- Tuition Fee
- Hostel Fee and other living expenses
- Other fee such as examination, lab and library fee
- Purchase of Books
- Caution Fee
- Travel Expenses
- Cost of Two Wheeler
- Purchase of Computer
- Fellowship or Scholarship
- Applicant Details:
- Last Educational Qualification
- Work Experience
- State of Residence
- Co-Applicant Details
- Contact Details
- Mobile Number
It is after these details in the application are filled that the State Bank of India will assess the details, and then take a call on whether the loan has to be granted or not. Users are advised to fill the form honestly and with complete accuracy. Applying for a loan via the SBI online services simplifies the process greatly, and they no longer need to stand in long queues or deal with numerous agents.
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