Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
FacilityFirst-time takeover of a standard existing education loan during the course, moratorium or repayment period, with possible documented top-up for further study
Source 1Current floating rate by underlying schemeStudent Loan takeover 9.40%; Scholar Loan takeover 6.90% to 7.65%; Global Ed-Vantage takeover 8.90% to 9.40% p.a.Effective 9 Jun 2026
Source 2Published takeover range₹10 lakh to ₹3 crore, including eligible outstanding or sanctioned balance, top-up and applicable source-lender prepayment penalty
Source 3SecurityCollateral-free where the borrower qualifies under Scholar or select Global Ed-Vantage institution rules; otherwise SBI-acceptable collateral of at least 100% of proposed loan value
Source 4Maximum repayment period180 months
Source 5Processing feeNil
Source 6Benefits and features
- Transfer up to ₹3 crore
- Rates based on qualifying SBI scheme
- No processing fee
- 15-year maximum tenor
- Conditional further-study top-up
Eligibility
- Only a fresh first-time takeover is eligible.
- The existing loan must be standard with the current lender.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Current lender sanction, statement and repayment record
- Academic and admission records
- Income and bank statements
- Collateral and insurance documents as applicable