SBI SCHOLAR LOAN - SBI has offered to provide student loans to deserving/meritorious students of premier and reputed institutions recognized by the bank. At present, this facility is available only to those admitted to Kasturba Medical College (KMC), Manipal & Mangalore and Manipal Institute of Technology (MIT).
KMC – Loan is increased from Rs. 15 lacs to Rs. 20 lacs without security and upto Rs. 30 lacs with security. Interest rate is reduce from 11.45% to 10.20% p.a.
MIT – Loan upto Rs. 7.5 lacs without security and upto Rs. 30 lacs with security.
Repayment period has been increased from 7 yrs to 12 yrs.
Manipal Plans are on the unveil to extend the facilty to the students of other institution also.
SBI STUDENT LOAN: SBI considers all other Students also, studying at Manipal University as preferential customer in providing Education Loans at SBI branches nearer to their native places.
Details can be had from SBI website www.sbi.co.in or www.statebankofindia.com . Also, queries can be made to SBI, Manipal branch firstname.lastname@example.org or 0820 - 2572814/650/741/640.