Saraswat Bank Education Loan – Interest Rates & Eligibility

Scholarship Examination in India

In this article, Examin gives details about Saraswat Bank Education loan. Find the complete details about Saraswat Bank Education loan such as Eligibility, Interest rates, Loan amount, Documentation and more.


Saraswat Bank is India’s largest Urban Co-operative Bank and has come a long way from our modest beginnings as a co-operative credit society in 1918. The experience and expertise have received the trust and support of our customers and the growing fraternity of stakeholders. Saraswat Bank enthusiastically backs parents and students to promote effective education. 



Individual who have secured admission in any of the graduate/post- graduate courses offered by College/Institute/University approved by IBA.


Limit of loan

  • Studies in India – Maximum up to Rs. 10 lakh
  • Studies Abroad – Maximum up to Rs. 50 lakh

Basis of Advance

Up to 90% of the cost of the fees and other related expenses.

Repayment Period

  • Maximum 12 years exclusive of moratorium period.
  • Moratorium: Three years or duration of the course plus one year whichever is earlier.


Rate of Interest

For IBA approved courses

Up to Rs 50 LacsRLP – 2.50 = 11.75% 
Present PLR: 14.25% p.a

0.50% less rate of interest would be applicable in case of girl students.


Processing fees

  • For Studies in India – NIL
  • For Studies Abroad – 0.5% of the loan


  • Up to Rs. 2 lac: Nominal Membership
  • Above Rs. 2 lac: 2.5% of the sanctioned loan amount, Maximum Rs. 25000/-.



  • Up to Rs. 2.00 lacs: Two guarantors
  • Above Rs.2.00 lacs and up to Rs. 5.00 lacs: Hypothecation of household articles and two guarantors.
  • Above Rs. 5.00 lacs: Pledge of any other tangible security acceptable to the bank OR Equitable mortgage of Property



Life insurance policy of the student borrower


  • Duly filled the prescribed application form
  • Photo Identity & Residence Proof of the Applicant & Guarantor
  • Income proof:
    • Salaried person: salary slips for the last 3 months, ITR/Form 16 for last 3 years
    • Businessman/Professional/ self-employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for the last 3 months.
  • Proof of confirmed admission
  • Estimate of course fees & other expense (traveling /lodging /boarding)
  • Fee receipts or proof of payments made.
  • Copy of Passport & Visa and related documents, if the student is going abroad for higher education

 For further details, please click here


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