SBI Scholar Loans

SBI Scholar Loan is SBI’s education-loan product for students admitted to selected premier institutions. BITS Pilani, BITS Goa and BITS Hyderabad appear in SBI’s Scholar Loan institution list, so BITS students should ask for the Scholar Loan terms when speaking to SBI.

The loan is intended for education expenses connected to the course, not as a general-purpose personal loan. Final sanction, amount, co-borrower requirements and documentation remain subject to SBI’s branch-level verification.

• Tuition, admission, hostel and other institute fees.
• Examination, library and laboratory fees.
• Books, instruments, equipment and a computer or laptop where required for the course.
• Caution deposit, building fund or refundable deposit, subject to SBI’s limits.
• Other education-related expenses that SBI accepts as necessary for completing the course.

The attached SBI/BITS form includes a checklist. The student side includes items such as PAN, Aadhaar, college ID, hostel allotment letter, bonafide certificate, fee receipts, 10th and 12th marksheets, gap affidavit if applicable, bank account statement and existing loan statement if any.

For the parent or guardian, the checklist separates salaried and self-employed/business/professional/agriculturist cases. It asks for identity/address documents, assets and liabilities statement, photographs, income documents, bank statements and loan statements as applicable.

• Whether your campus and programme are being processed under Scholar Loan List AA.
• The final floating interest rate applicable on the date of sanction.
• Whether collateral is required for your exact loan amount.
• Whether parent/guardian co-borrower details are mandatory in your case.
• How disbursement will happen across semesters and whether BITS fee-demand letters are enough.
• When EMI starts and whether simple interest during the study period should be serviced or capitalised.