State Bank Of Mysore

State Bank Of Mysore Government


  1. Student should be an Indian National.
  2. Secured admission to professional/technical courses through Entrance Test/Selection process.
  3. Secured admission to foreign University/Institution.
  1. Completed Education loan application form.
  2. Mark sheets of last qualifying examination.
  3. Proof of admission scholarship, studentship, etc.
  4. Schedule of expenses for the specified course.
  5. 2 passport size photographs.
  6. Borrower’s Bank account statement for the last six months.
  7. Income tax assessment order, of last 2 years.
  8. Brief statement of assets and liabilities, of the co-borrower.
  9. Proof of Income (i.e. Salary slips/Form 16, etc.).

Eligible courses - India/Abroad
Diploma/Graduate/Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university.

Maximum loan limit is Rs.10.00 lacs for studies in India

The interest accrued during the moratorium period is added to the principal and when the moratorium period (Holiday Period) is over, repayment is fixed in the form of EMI.

The current interest rates that are applicable are:-

  1. For loans up to Rs. 4.00 Lacs - 11.50%
  2. Loans ranging from Rs. 4.00 Lacs up to Rs.10.00 Lacs – 12.50%
  3. Loans above Rs.10.00 Lacs - 13.00%

The repayment tenure begins as soon as the loan is disbursed and the parent/guardian has to start paying for it from his/her own income. Instalments will be nominal during this period. The amount to be paid in instalments will be increased within one year after completion of the course or after the student procures a job, whichever is earlier, so that the loan gets repaid together with interest within a period of 60 to 84 months.

  1. There is no margin on education loans up to Rs.4.00 Lacs.
  2. For loans above Rs. 4.00 Lacs, the margin applicable is 5% for studies in India and for studies abroad, the margin applicable is 15%.
  3. Scholarship will be included in the margin.

Security is not required to if the loan taken is less than Rs. 4.00 Lacs. However, if the education loan is above Rs.4.00 Lacs and within Rs.7.50 Lacs, a suitable third party guarantee should be given as collateral.

If the loan is above Rs.7.50 Lacs and up to Rs. 10 lakhs, collateral security in the form of immovable property or a collateral such as Government securities/NSCs/Units of UTI of suitable value is to be provided along with an assignment of future income of the student for paying instalments.

Security can be offered in the form of gold, land/buildings/Govt. securities/Public Sector Bonds/Units of UTI, KVP, NSC, life policy, shares/debentures, bank deposit with a suitable margin for loaning against the securities, etc. In the case of minors, the parent/guardian will execute the documents on behalf of the minor and also in his capacity as co-borrower. Security in the form of parents/guardians/third party guarantee can be placed where sufficient collateral security is not available.


1) The Ministry of HRD has initiated the Central Scheme for Interest subsidy on education loans and this subsidy is offered by State Bank of Mysore to its customers.

2) Students from financially weaker sections of the society who wish to pursue their Graduation or Post Graduation studies in Technical/Professional disciplines, are eligible.

  1. College, school or hostel fees.
  2. Fees payable for Examination, Library and Laboratory.
  3. Amount required for purchase of books, equipment, instruments as well as uniforms.
  4. Deposits such as Caution Deposit, Building Fund or Refundable Deposit.
  5. Travel expenses for studies abroad.
  6. Purchase of computers if needed for completion of the course.
  7. Miscellaneous expenses required to complete the course like study tours, project work, etc.
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