If you are a student in look out for loans for your Higher studies (like MS, MBA etc) from SBI, these interest rates might give you an idea on what you need to have and what you need to pay after.
SBI Offers Career loans (or Student loans) against various securities, ranging from loans for Land/ Buildings (See SBI loans against Property), Bank TDR’s and STDR’s and Loans against various financial holdings like Insurance Policies, Savings certificate etc (see SBI loan against LIC policy).
The interest rate is a derivative from the Bank’s base rate and keeps changing.
Interest rates for Career loans against various securities mentioned above are as follow:
Land, building or any Immovable property: 4.5% over the Base rate per annum (which is at present 7.6%)
Financial holdings like LIC Policy, NSC, KVP, Bond’s etc: 4.25% over Base rate
Bank TDR’s or STDR’s: 1% above the existing rate that Bank pays for fixed deposits.
In all the three cases, if the loan amount is paid during your course period, you may get a discount of 0.50%.
