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State Bank of India

State Bank of India
Gyan Jyoti Scheme

The bank offers financial assistance to the needy and deserving students opting for

  • School/ College education in India
  • Higher, technical / professional, studies like medical MBA courses etc. in India/abroad.


  • To meet tuition fee and other fees.
  • Maintenance Cost/books and equipment etc.

Eligible Courses

(i) Cognate school education.

(ii) All courses conducted by UGC approved Universities and autonomous institutions, affiliated to them, including computer courses.

(iii) All degree courses and computer courses conducted by deemed Universities, including courses in management, engineering, architecture, etc.

(iv) All degree courses conducted by institutions recognized by the Indian Medical Council.

(v) All computer courses which have been given due accreditation by Dept. of Electronics (DoE), Govt. of India, under their scheme of DOEACC (Dept. of Electronics Accreditation of Computer Courses). Other computer courses conducted by National Center for Software Technology, Mumbai, C-DAC (Center for Development of Advanced Computing), Pune and courses conducted by CMC Ltd. (but not courses approved by CMC but conducted by their franchisees).

(vi) Courses conducted by NIFT (National Institute of Fashion Technology).

(vii) Courses conducted by NID (National Institute of Design), Ahmedabad.

(viii) Hotel Management Courses conducted by National Council Institutes.

(ix) Post Graduate degree courses overseas.

(x) Navy/Commercial Pilot courses of recognized institutions. Part time and correspondence courses offered by Universities/deemed Universities/above institutes will also be eligible for financing.


  • (a) School/College
  • (i) Minimum Second Division (Pass marks for SC/ST).
  • (ii) Parents/guardians having independent source of income. Self-employed/ professionals and those engaged in agriculture and allied activities are eligible. Income should be sufficient enough to bear interest & installment besides normal subsistence and family requirements.
  • (b) Technical/professional/higher studies in India or abroad.
  • (i) Minimum First division (Second Division for SC/ST). OR

Passing the entrance test for the technical/professional course and securing an admission for the course.

  • (ii) Parents/guardian having independent regular source of income, including self-employed/ professionals and those engaged in agriculture and allied activities with sufficient income.

Type of loan - Term Loan

Amount of Loan

(a) School/College Education in India

Upto 6 times the net (take home) monthly salary of parent/guardian/student. Minimum amount of loan is Rs.4000 and maximum amount Rs.1 Lakh.

(b) Technical/Professional higher studies in India or abroad

90% cost of the study, subject to maximum of Rs.8 lakhs.


Student and parent/guardian, jointly. Employed students can also get loan.

Margin - 10%

Interest (w. e. f. 1.3.99)

  • (i) Upto Rs.25,000 - 12. 21%
  • (ii) Above Rs.25,000 upto Rs.2 lakhs - 12. 21%
  • (iii) Above Rs. 2 Lacs - 14. 28%


  • (a) For School/College Education in India : within 36 months, commencing immediately after disbursal by the parent/guardian out of their income.
  • (b) For Technical/Professional higher studies in India and abroad : The loan will be repaid in a maximum period of 60 months after completion of course or securing a job, whichever is earlier. A moratorium period for one year may also be given, if considered necessary.


School/Graduate studies in India or Abroad
(i) Collateral security from the borrower/guarantor equal to 100% of the loan amount consisting of any one or more of the following : (a) Govt. Securities, Public Sector Bonds, Units of UTI, NSC, Surrender Value of LIC Policy, Bank Deposits of equivalent value after effecting necessary lien/assignment. OR (b) shares, hypothecation of motor vehicles, gold, equitable mortgage of immovable property, after retaining 50% margin of their market value.
(ii) Alternatively, collateral security (as mentioned above) equal to 50% of the amount of loan would be acceptable provided a check off arrangement is established with a reputable employer of the borrower, whereby the monthly installment is deducted from his/her salary and paid by the employer directly to the Bank in a maximum period of 36 months. Technical/Professional/Specialized/ Post Graduate studies in India/Abroad Creation of charge over the movable and immovable assets of the borrower/spouse of the borrower/guarantors equivalent to the loan amount. Interest Rates (New Accounts)


  • (i) Application from (Student and parent/guardian).
  • (ii) Proposal by the Branch.
  • (iii) Term Loan agreement (student and parent/guardian).
  • (iv) Guarantee Agreement.
  • (v) Pledge of security/Equitable mortgage of immovable property, where applicable.
  • (vi) Deed of Ratification to be executed by minors on attaining majority (where applicable).

Authorised Branches

All branches having Personal Banking Division and those serving universities/colleges etc.

Children/wards of Banks Staff

Same terms and conditions as prescribed for public will be applicable. Lien against P.F. balance of staff member may be treated as collateral security.


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