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  • State Bank of Bikaner and Jaipur Education Loan

    State Bank of Bikaner and Jaipur Education Loan
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    SBBJ Education Loan Scheme Overview:

    State Bank of Bikaner and Jaipur was incorporated in 1963 and operates mainly from Rajasthan. State Bank of Bikaner and Jaipur’s banking portfolio comprises of home loans, car loans and special loans for educational organizations, business houses, traders against collateral of property and tour operators. The bank also offers working capital finance, which consists of trade finance, term loan, deferred payment guarantee and loan syndication as well as project finance and export credit.

    Features and Benefits of State Bank of Bikaner and Jaipur Education Loan:

    Objective/ Purpose of Loan:

    The SBBJ Educational Loan Scheme aims to offer financial support to meritorious students, helping them to pursue higher education in India and abroad. The emphasis is on the fact that a meritorious student, regardless of his/her financial status, is provided with an opportunity to pursue education with financial support from the banking system with reliable and affordable conditions.

    Amount of education loan:

    The amount of loan offered for education purposes to students is up to 10 lacs for education in India, and up to 20 lacs for pursuing education abroad.

    Interest Rates:

    Interest rates are subject to changes from time to time. Currently for a girl student the interest rate is 0.50% lower than that offered to regular customers. If the student wishes to pursue his/her studies in prime institutions, the rate of interest will be up to 1.00% lower. A 1% concession on interest may be offered by the bank, provided that the interest is paid back during the study period. The minimum interest charged on a loan of up to 4 lac is 11.25 % per annum.

    Processing Fees:

    There are no additional charges or processing fees on education loans offered by State Bank of Bikaner and Jaipur (SBBJ).

    Repayment Tenure:

    Repayment of the loan is to begin one year after the completion of the course or six months after the student gets a job, whichever happens first. The student is expected to pay a minimum amount equivalent to the EMI on a monthly basis. However, more than the stipulated EMI can be paid back without any prepayment penalty. Repayment of the loan is in equated monthly instalments for tenures as given below:-

    • For loans which amount to 7.5 lakhs and below, the tenure is up to a maximum of 10 years.
    • For loans above 7.5 lakhs, the tenure is up to 15 years.

    Maximum loan limit:

    The maximum loan limit is not applicable for education loans up to 4 lacs. But for loans above 4 lakhs taken for studying in India, the maximum loan limit is 5% and for studies abroad the maximum limit is 15%.


    Graduates, post graduates, persons going for professionals courses, having employment opportunities can apply for State Bank of Bikaner and Jaipur education loans. The maximum amount of loan for pursuing studies in India is 7.5 lac INR and for studying abroad it is 15 lacs INR.


    For education loans which amounts up to 4.00 lacs, no security is required. For an education loan which falls within the range of 4.00 lacs to 7.50 lacs, a third-party guarantee is required. Also, for loans above 7.50 lacs, an equitable mortgage of landed property or any other tangible security is mandatory.

    Expenses considered for State Bank of Bikaner and Jaipur education loan:

    The following expenses are considered as payable under education loan offered by SBBJ:

    1. Fees for attending college, school or hostel.
    2. Fees payable for Examination, Library and Laboratory.
    3. Travel expenses for studies abroad.
    4. If applicable, Insurance premium for student borrower.
    5. Caution deposit, Building fund, refundable deposits along with proof in the form of institution receipts.
    6. Cost of books, equipment’s, instruments as well as uniforms.
    7. Amount required to purchase computer/laptop at a reasonable cost, if it is required as a part of completion of the course.
    8. Other expenses required as part of the course such as study tours, project work, etc.

    Eligible courses in India and Abroad:

    Courses that are eligible under this scheme are:

    • All courses that have employment prospects.
    • Graduate, Postgraduate, and Professional courses.
    • Courses which are approved by UGC, Government and/or AICTE etc.

    Documentation required:

    In order to apply for State Bank of Bikaner and Jaipur education loan documents that are to be submitted are mark sheets of last qualifying examination, concise statement of assets and liabilities of the co-borrower, schedule of expenses for the specified course, Proof of admission to the course, 2 photographs of the borrower, last six months’ bank account statement of borrower, IT assessment order which is not more than 2 years old, statement of assets and liabilities, property documents offered as security (if applicable), copies of foreign exchange permit if applicable, etc. A new customer needs to provide identity proof and address proof.


    • The student should be a citizen of India.
    • The student should have been admitted to a higher education course in recognized institutions in India or abroad.


    State Bank of Bikaner and Jaipur education loan comes with a central scheme for interest subsidy which is applicable only for courses pursued in recognized Technical/Professional courses in India. . The subsidy is only offered to students who wish to pursue a degree/diploma in India and is also available for integrated courses. Interest subsidy claims will be disbursed on a half-yearly or yearly basis. The scheme also benefits those students who belong to economically weaker sections, and have an annual gross parental/family income of up to Rs.4.5 lacs per year.

    State Bank of Bikaner and Jaipur Education Loan FAQs:

    1. How can I avail a SBBJ educational loan?
    2. The loan can be availed through the Bank’s branches by filling the appropriate forms and submitting the required forms.
    3. Can I avail a second education loan for higher studies?
    4. Yes. A second education loan can be availed once the earlier course is completed, through the same branch from which the first education loan was taken.
    5. With a moratorium period in place, how can my repayments be determined?
    6. If interest is not paid during the moratorium period, the outstanding interest during the moratorium period will be added to the loan amount when the borrower starts to repay the loan. The EMI on this amount will be determined at this time.
    7. Should interest be paid during the study period?
    8. Payment of interest is not necessary during the study period but if interest is paid consistently, the borrower is eligible for a 1% rebate in interest rate, which will be reduced from the loan amount when repayment commences.
    9. Does income of parent/guardian affect the education loan criteria?
    10. No. Education loan is considered based on quality of course/ institution funds, requirement for studies and future income prospects only.
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