Saraswat Bank Education Loan

Saraswat Bank Education Loan


For Education in India and Abroad


Individual who has 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 upto Rs. 10 lakh
  • Studies Abroad – Maximum upto Rs. 50 lakh

Basis of Advance

Upto 90% of 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

Amount Floating
Upto Rs 50 lacs RLP – 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 amount.


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


  • Upto 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 prescribed application form
  • Photo Identity & Residence Proof of the Applicant & Guarantor
  • Income proof:
    • Salaried person : salary slips for 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 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