Established in 1955, the State Bank of India (SBI) is India’s largest public sector bank in terms of assets, deposits, branches, customers, and employees. The bank offers education loans to eligible students who wish to pursue higher education in India or abroad. Whether you’re exploring an education loan in the State Bank of India or seeking a student loan from SBI, it’s crucial to understand the array of options available to support your academic aspirations.

Types of Education Loans in State Bank of India

The State Bank of India education loan is categorized into several schemes that cater to the varied needs of students. State Bank of India education loan schemes are as follows –

• SBI Student Loan Scheme
• SBI Scholar Loan Scheme
• SBI Skill Loan Scheme
• SBI Global Ed- Vantage
• SBI Takeover of Education Loan Scheme
• SBI Shaurya Education Loan

Overview of Education Loan Without Collateral SBI

The most attractive feature of the SBI education loan without collateral for abroad is that it does not require any security or collateral for loans up to INR 50 Lakhs. This is a significant advantage for students who do not have valuable assets to pledge. The SBI unsecured education loan ensures that the lack of collateral does not become a barrier to achieving your academic dreams.

Earlier SBI education loan without collateral was limited to INR 7.5 Lakh, but in 2024 SBI started collateral-free education loans for up to INR 50 Lakhs. For education loans amounting to more than INR 50 Lakhs, a collateral is must. However, when applicants opt for an SBI non-collateral education loan for abroad, the parents or guardian must co-sign the loan with the student.

As SBI provides education loans without a co-applicant, a financial co-applicant is generally not required. Hence, students looking for an SBI education loan without a co-applicant can opt for collateral-based loans where a financial co-applicant is not required for amounts up to INR 50 Lakhs.