State Bank of Mysore

Gnanamitra Educational Loan

To enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.
Courses Eligible:
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
Loan Amount:
Higher Education in India - 10.00 Lacs
Higher Education Abroad - 20.00 Lacs
Margin: Upto Rs. 4.00 lacs - Nil
Above Rs. 4.00 lacs -
For studies in India - 5%
For studies in Abroad - 15%
Interest: Upto Rs. 4.00 lacs - 12.50% 
Above Rs. 4.00 lacs - 13.25%
For students studying at elite institutions - 11.75%
Repayment of loan to commence immediately after disbursal, by the parent / guardian, out of his / her income. Instalments may be nominal during the period the student is undertaking the studies. The instalments will be stepped up one year after the completion of the course or after the student gets a job, whichever is earlier,so that the loan gets repaid together with interest within a period of 60 to 84 months thereafter.
1. Upto Rs. 4.00 lacs - Nil
2. Above Rs. 4.00 lacs and upto Rs. 7.50 lacs - Collateral in the form of a suitable 3rd party guarantee
3. Above Rs. 7.50 lacs and upto Rs. 10.00 lacs - Collateral security by way of immovable property
For further details Contact :
STATE BANK OF MYSORE - Zonal office your nearest branch of SBM.