SBI Shaurya Education Loan

The SBI Shaurya Education Loan is made to support the children and spouses of Defence, Coast Guard, and Central Armed Police Service Personnel. It helps them pursue higher education in India or abroad by reducing financial stress with flexible repayment options. This facility is intended to provide easy funds to obtain an excellent education from outside and offer future opportunities for development within families. This loan covers courses that range from undergraduate education to professional programs. Thus, the loan allows families to focus on their educational goals without any hindrance from financial matters.

Read more
Investing in your child's future:A wise decision & a loving choice
Benefits of Investing In Child Plan
Waiver of Premium Benefit
Future Premiums are paid by the insurer upon death of policyholder
Flexible Payout Options
Your premiums help your child achieve their dreams through lump sum or regular payouts
Wealth Boosters
Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us
Zero Commission
We charge no commission when you buy from us. Also buy online & get extra
Tax Benefits^
You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)
Investment Flexibility
It offers the flexibility to invest at regular intervals or as a one-time contribution
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr# Tax-Free* on Maturity

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

About the Scheme

The SBI Shaurya Education Loan is available for the children and spouses of Defence, Coast Guard, and Central Armed Police Force personnel to meet education expenses both in India and abroad. It can be used for undergraduate, postgraduate, diploma, and professional courses, helping families pursue higher education without financial worries.

The loan covers all such expenses that can be used for study, including fees for tuition, transportation, hostel lodging, books, and other related expenses. This makes it an excellent addition to any child investment plan to prepare families to finance their child’s educational future. The loan repayment is also highly flexible, with a one-year moratorium on course completion before borrowers can start repaying. That is to give them time to financially settle down before they can start paying back the loans.

Schemes & Rate of Interest

The SBI Shaurya Education Loan provides reasonably low rates of interest, as well as housing benefits to customers according to their needs. Below are the detailed structures regarding interest rates:

  • Without Collateral (up to â‚ą40.00 lakh): 10.65% to 11.15%

  • With Collateral (Above â‚ą7.50 lakh up to â‚ą1.50 crore): 10.15%

Additionally, there is a 0.50% concession in interest for female students.

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
â‚ą10,000/Month
& Get
â‚ą1 Crore*
*Standard T & C Apply

Features of the Scheme

The SBI Shaurya Education Loan offers a variety of benefits that make it an appealing option for eligible borrowers. Here are the key details:

  1. Loan Amount

    Up to â‚ą40 lakh for studies in India and â‚ą1.5 crore for studies abroad.

  2. Tax Benefits

    Eligible borrowers can claim deductions under Section 80E of the Income Tax Act.

  3. Flexible Repayment

    Repayment period of up to 15 years through EMI.

  4. Loan Security

    The interest rate for educational loans is 10.65% to 11.15% for amounts up to â‚ą40.00 lakh without collateral and 10.15% for amounts above â‚ą7.50 lakh up to â‚ą1.50 crore with collateral.

These features make the loan a great option for families planning their child’s education. It also fits well with a child education plan, giving financial support for a bright academic future.

Invest More Get More
Invest â‚ą10K/Month YOU GET â‚ą1 Crores* For Your Child View Plans
Invest â‚ą8K/Month YOU GET â‚ą80 Lakhs* For Your Child View Plans
Invest â‚ą5K/Month YOU GET â‚ą50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Eligibility of the Scheme

To apply for the SBI Shaurya Education Loan, applicants must meet specific criteria. Here are the requirements:

  • The applicant must be the spouse or child of Defence Salary Package/Indian Coast Guard Salary Package/ Central Armed Police Force Salary Package account holder in SBI Bank.

  • The co-borrower must be an account holder with SBI, and their salary or pension account must remain with the bank for the entire loan period.

  • The student must be enrolled in a recognised institution for undergraduate, postgraduate, or professional diploma programs.

Documents Required

To apply for the SBI Shaurya Education Loan, the following documents will be required:

  • Proof of identity (Aadhar card, passport, etc.)

  • Proof of residence (utility bills, rental agreements, etc.)

  • Admission letter from the institution

  • Proof of income for the co-borrower (salary slips, pension statements, etc.

  • Academic records of the student

Unique Triple Benefit
  • Future premiums paid by insurer on parent's death
  • Monthly income to fund child's education on parent's death
  • Lumpsum payout to family on parent's death
Returns
  • Return as of Apr 2024
  • 12%-15%
  • 8.2%
  • 7.1%
Availability
  • Availability
  • Girl Child or Boy Child
  • Girl child only
  • Girl Child or Boy Child
  • Max Entry Age
  • Upto 18 years
  • Upto 10 years
  • No Age Limit
Flexibility
  • Invested Amount can be Withdrawn after
  • 5 years
  • 21 years
  • 15 years
  • Conditions for Premature closure
  • Anytime after 5years
  • Extreme Compassionate Grounds
  • Serious Ailments or for education
  • Penalty on Premature Closure
  • No Penalty after 5 years
  • Returns reduced to Post Office Savings rate
  • 1% reduction in interest rate
  • Max deposit amount in an year
  • No Limit
  • 1.5 Lacs
  • 1.5 Lacs
Documentation
  • Documentation Required for Withdrawal
  • Low
  • High
  • Low
View Plans

Most Important Terms and Conditions

Before applying for the SBI Shaurya Education Loan, it’s important to understand the key terms and conditions such as:

  1. Repayment Period

    The repayment period extends up to 15 years after the course completion and the moratorium period.

  2. Moratorium

    Repayment holiday for the duration of the course plus one year, or six months after job placement, whichever is earlier.

  3. Processing Fees

    Free for loans up to â‚ą20 lakh; â‚ą10,000 (plus Taxes) for loans above â‚ą20 lakh.

Child Finance Hub

FAQs

  • How does the SBI Shaurya Education Loan support child education allowance?

    The SBI Shaurya Education Loan helps families with a child education allowance by covering tuition fees, books, equipment, and travel expenses for education in India or abroad, ensuring that Defence Service Personnel's children can pursue quality education without financial difficulties.
  • How much can I borrow under this scheme?

    You can borrow up to â‚ą40 lakh for studies in India and â‚ą1.5 crore for studies abroad.
  • Do I need collateral for the loan?

    No collateral is required for loans up to â‚ą7.5 lakh. For loans above â‚ą40 lakh, collateral is required.
  • What are the tax benefits of the SBI Shaurya Education Loan?

    The loan qualifies for tax deductions under Section 80E of the Income Tax Act, which can help you save on taxes during repayment.
  • Can the SBI Shaurya Education Loan help with tax benefits?

    The SBI Shaurya Education Loan does offer tax benefits on the interest paid, and you can use an income tax calculator to figure out how much you need to pay.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
HDFC Education Loan for Foreign Education

06 Feb 2025

Studying abroad offers students the chance to experience new
Read more
HDFC CSIS Scheme

06 Feb 2025

HDFC CSIS Scheme enables students from economically weaker
Read more
HDFC Educational Loan for Indian Education

06 Feb 2025

Quality education is the first step towards securing your
Read more
SBI Education Loan MITC

06 Feb 2025

The SBI Education Loan is a loan scheme that helps students
Read more
SBI Education Loan Repayment

06 Feb 2025

As a parent, you want nothing more than to give your child the
Read more
Top 12 Government Schemes for Girl Child
  • 29 Apr 2022
  • 114007
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Ponmagan Podhuvaippu Nidhi Scheme (PPNS)
  • 24 May 2023
  • 48385
Post Office Ponmagan Podhuvaippu Nidhi scheme is a social welfare initiative introduced by the Tamil Nadu
Read more
Prime Minister Schemes For Boy Child
  • 05 Apr 2022
  • 21383
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
  • 09 Jul 2021
  • 43050
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
SBI Smart Scholar Returns Calculator
  • 15 Mar 2022
  • 15857
SBI Life Smart Scholar is an insurance scheme specifically designed to address the needs of a growing children
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL