EduSum Education Loan Scheme

Your Future, Our Commitment

South Indian Bank presents the SIB EduSum Education Loan Scheme(SLBSC Kerala), a tailored solution designed to support aspiring students in Kerala pursuing higher education in India and abroad. With comprehensive coverage, flexible terms, and competitive interest rates, this scheme helps students achieve their academic goals without financial hurdles.

Flexible loan amount - Loans upto to Rs. 10 Lakh based on the course and institution
Age limit - 25 years for undergraduate and 30 years for postgraduate courses
Attractive margin requirements:
- NIL margin for loans up to Rs. 4 Lakh
- 5% margin for loans above Rs. 4 Lakh for domestic studies and 15% for foreign studies
Collateral-free option:
- No collateral for loans up to Rs. 1 Lakh
- Third-party guarantee for loans between Rs. 1 Lakh and Rs. 3 Lakh
- 100% collateral required for loans above Rs. 3 Lakh
Simple interest during moratorium - Only simple interest is charged during the moratorium period
Top-up loans - Available for higher education
No processing or prepayment charges - Transparent and hassle-free terms
Mandatory life insurance - Life Insurance is mandatory for the students availing Education Loan

Academic performance - Secured a minimum of 85% in each qualifying subject and 75% overall in the first attempt
Income requirement - Parents must have a minimum annual income of Rs. 7.5 Lakh
Age criteria - 18 to 30 years depending on the course and loan purpose

Category	Details
Interest Rates	Check Interest Rates
Additional Charges	Click here for Service Charges

Proof of identity and address (student and parents)
PAN card of student and parents
Admission/offer letter from the institution
Fee structure and approval documents of the course
Qualifying exam mark sheets and scorecards
Property-related documents for loans requiring collateral

Online application - Click here to apply for a student loan. Our representative will get in touch with you soon.
OR

Branch visit – Visit the nearest South Indian Bank branch and our representative will help you
Application and Document submission – Submit the list of documents required for processing your loan
Verification - Our team will assess your application, including collateral, and verify eligibility.
Approval - Receive quick approval and a loan offer tailored to your needs.
Disbursal - Upon approval, the education loan amount will be credited directly to the institution's account.

Frequently Asked Questions

To get answers to the frequently asked queries

Loan amounts range from Rs. 2.5 lakh to Rs.10 lakh based on the course and location.

No collateral is required for loans up to Rs.1 lakh. Loans between Rs.1 lakh and Rs.3 lakh require a third-party guarantee, while loans above Rs.3 lakh require 100% collateral.

The repayment period is up to 10 years for loans up to Rs. 7.5 lakh and 15 years for higher amounts.

Yes, the moratorium period includes the course duration plus 1 year or 6 months after securing a job, whichever is earlier.

Yes, you can prepay the loan at any time without incurring additional charges.

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