Investment
Secure
Download the Policybazaar app
to manage all your insurance needs.
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
SBI Skill Loan Scheme
One feels inspired to acquire modern skills in today's culture in order to support their professional and personal growth. The largest obstacle, though, is frequently a lack of funding. The purpose of the SBI Skill Loan Scheme is to help people improve their skills by funding skill-development initiatives. The strategic goal of this program is to enable prospective students to advance their abilities without jeopardising their financial future.
Invest in Your Child's Future:Give Your Child the Most Valuable Gift of Education
We are rated++
12.02 Crore
Registered Consumer
51
Insurance Partners
5.9 Crore
Policies Sold
Stay more prepared for future education expenses
- Home
- Child Plans
- Education Loan
- SBI Education Loan
- SBI Skill Loan Scheme
In this article, we will discuss how the SBI Skill Loan Scheme has helped realise aspirations.
About the SBI Skill Loan Scheme
The SBI Skill Loan Scheme is one of the most inclusive programs aimed at providing financial assistance for skill development courses aligned with the National Skill Qualification Framework (NSQF) or other recognised training programs. Whether it’s a short-term certification or a diploma program, the scheme is tailored to cover a variety of needs. With competitive interest rates and flexible repayment options, it’s an excellent choice for those seeking to upgrade their skills without financial stress. The SBI education loan undoubtedly stands out as a reliable option for thousands of students and professionals.
EMI Calculator
Loan Amount
₹
- ₹10 K
- ₹1,00,000
- ₹5,00,000
- ₹10,00,000
- ₹50,00,000
- ₹1,00,00,000
- ₹2,00,00,000
- ₹4,00,00,000
- ₹6,00,00,000
- ₹8,00,00,000
- ₹10 Cr
Interest Rate
%
- 1%
- 2
- 3
- 4
- 6
- 7
- 8
- 9
- 11
- 12
- 13
- 14
- 16
- 17
- 18
- 19
- 21
- 22
- 23
- 24
- 26
- 27
- 28
- 29
- 30%
Loan Tenure
Yrs
- 1 Yr
- 2
- 3
- 4
- 6
- 7
- 8
- 9
- 11
- 12
- 13
- 14
- 16
- 17
- 18
- 19
- 21
- 22
- 23
- 24
- 26
- 27
- 28
- 30 Yrs
Total Interest
Principal Amount
SBI Skill Loan Scheme - Rate of Interest
The interest rates for the SBI Skill Loan Scheme vary based on the loan amount and course type. Here’s an overview:
-
Loan Amount up to ₹1.5 lakh: Starting at 10.65% per annum.
-
Moratorium Period: Course duration + 6 months.
-
No processing fees for loans up to ₹1.5 lakh.
Note: Borrowers can claim tax deductions on interest payments under Section 80E of the Income Tax Act. Use this income tax calculator to estimate your benefits.
Features of the SBI Skill Loan Scheme
The SBI Skill Loan Scheme is packed with features that make it an ideal choice for students and professionals:
-
Loan Coverage: Includes tuition fees, examination fees, and certification charges.
-
Loan Limit: From ₹5,000 to ₹1.5 lakh.
-
Repayment Tenure: Up to 7 years, including the moratorium period.
-
No Collateral: Loans up to ₹1.5 lakh do not require collateral.
-
Flexible Disbursement: Funds are disbursed directly to the educational institution.
Aligned with SBI’s broader offerings, such as the Child Education Plan, this scheme supports skill development and ensures financial ease for learners.
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child
Standard T&C Apply *
Eligibility for the SBI Skill Loan Scheme
To qualify for the SBI Skill Loan Scheme, applicants must meet the following criteria:
-
Age: Indian nationals aged 18–35 years.
-
Admission: Applicants should have secured admission to courses recognised by the NSQF, government organisations, or reputed institutions.
Learn about child education allowance options.
Documents Required
Applicants need to submit the following documents:
-
Admission letter from the educational institution.
-
Fee structure detailing tuition and other charges.
-
Academic records (marksheets and certificates).
-
Identity proof: Aadhaar card, PAN card, or voter ID.
-
Address proof: Passport, utility bills, or rental agreement.
-
Bank account statement (last six months).
Most Important Terms and Conditions
Before applying, here are some key terms to keep in mind:
-
Collateral Requirement: Loans up to ₹1.5 lakh do not require collateral.
-
Repayment Moratorium: Repayment begins 6 months after course completion.
-
Tax Benefits: Interest payments are eligible for deductions under Section 80E of the Income Tax Act.
FAQs
-
What courses are covered under the SBI Skill Loan Scheme?
The scheme covers courses aligned with the NSQF, ITI programs, polytechnic courses, and other training programs recognised by the government or reputed institutions. -
What is the maximum loan amount I can avail?
You can avail education loans up to ₹1.5 lakh under the scheme. -
Is there a moratorium period for repayment?
Yes, repayment begins 6 months after course completion or 6 months after securing a job, whichever is earlier. -
Can I claim tax benefits on my loan?
-
How can I apply for the SBI Skill Loan Scheme?
You can apply online through SBI’s official website or visit the nearest branch with the required documents.
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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.
Investment
Secure
Secure your Child’s
Career Goal
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
- SIP Calculator
- Income Tax Calculator
- Compound Interest Calculator
- NPS Calculator
- Show More Calculator
Child plans articles
Recent Articles
Popular Articles
02 Feb 2026
Studying at a top university can be costly, and paying for fees
02 Feb 2026
Students can use loans to pay for their higher education, but
14 Jan 2026
Parents who want to make sure their daughter's future is safe
14 Jan 2026
Sukanya Samriddhi Yojana (SSY) is one of India’s most trusted
12 Jan 2026
Post Office Sukanya Samriddhi Yojana (SSY) with a monthlyExplore the popular searches and stay informed
- Child Investment Plan
- Child Plan
- Government Schemes for Girl Child
- Post Office Child Plan
- Prime Minister Schemes For Boy Child
- 50k Pension Per Month
- Annuity Plan
- Atal Pension Yojana Calculator
- Best Pension Plan in India
- Best SIP Plans
- CIBIL Score
- Deferred Annuity Plans
- HDFC SIP Calculator
- Immediate Annuity Plans
- Investment Plan
- LIC Calculator
- LIC
- NPS Interest Rate
- Pension Plan
- Retirement Planning
- SBI Annuity Deposit Scheme Calculator
- SBI SIP Calculator
- SBI SIP
- SIP Calculator
- SIP
- Sukanya Samriddhi Yojana Interest Rate
- Sukanya Samriddhi Yojana
- ULIP Calculator
- ULIP Plan
- 1 Crore Term Insurance
- Best Term Insurance Plan
- Term Insurance for Women
- Term Insurance for NRI
- Term Insurance
- Term Insurance Calculator
- Life Insurance
- Term Insurance with Return of Premium
- Whole Life Insurance
- Term Insurance vs Life Insurance
- What is Term Insurance
- Life Insurance Calculator
- 5 Crore Term Insurance
- 2 Crore Term Insurance
- 50 Lakh Term Insurance
- Term Insurance for Housewife
- Benefits of Term Insurance
- Term Insurance Terminology
- Medical Tests for Term Insurance
- Term Insurance for Self Employed
- Claim Settlement Ratio
- 10 Crore Term Insurance
- Term Insurance for Smokers
- 1.5 Crore Term Insurance
- Zero Cost Term Insurance
- Home Loan Insurance Calculator
- FIRE Calculator
- EMI Calculator