If you are looking for a loan below 7.5 lacs, you can get it quite easily without any security. Interest rates may be in the range of 8.5% to 11.5%. All loans nowadays are being processed through the Vidya Lakshmi portal. In this article, I will discuss the education loan process of SBI.
It usually takes 2 to 2.5 months to sanction the loan. We just need to fill out the loan application form on the Vidya Lakshmi portal. I will elaborate on the step-by-step process.
Steps for applying for an Education loan in SBI
- Create an account on Vidya Lakshmi.
- Fill out the loan application form.
- Apply to the loan scheme suitable for you in your nearest branch through the Vidya Laxkhmi portal.
- Take a printout of your loan application and visit the nearest SBI branch where you have applied.
- Make sure you carry all required documents with you while visiting the branch and Submit it to the branch manager.
- After some days or weeks, they might call you to visit the branch to sanction the education loan.
- Keep checking the status of your application on the Vidya Lakshmi portal as well.
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