Being a bank, we understand the importance of inventing in education. The Saraswat Education Loan is here to give wings to your child’s dream of studying ahead in India or in a foreign country.


  1. Individual who has secured admission in any of the graduate/post-graduate courses offered by college/institute/university approved by IBA.
  2. Parent or blood relative should be applicant and student should be co-applicant

Loan Amount:

  1. Studies in India – Max up to Rs. 10.00 lacs extended up to Rs. 30 Lakh for selected courses.
  2. Studies Abroad – Max up to Rs. 50.00 lacs.

Basis of Advance:

  1. Upto 90% of cost of the fees and other related expenses.

Repayment Period:

  1. Maximum 12 years excluding moratorium period.
  2. Moratorium: Three years or duration of the course plus one year, whichever is earlier.

Takeover of loans:

  1. Takeover of car loans from other Banks/Institutions subject to norms.

Rate of Interest:

For IBA approved courses



Upto Rs 50 lacs

PLR – 3.75 = 10.65%
Present PLR: 14.40% p.a

Present PLR @14.40% p.a

  1. 0.50% less rate of interest would be applicable incase of Girl students.
  2. 0.25% less rate of interest would be applicable in case of studies in Indian Institute of Management (IIMs) and Indian Institute of Technology (IITs), XLRI, ISB.

For courses not approved by IBA ROI at PLR-2 i.e. 12.40% p.a and terms and conditions as per MPLS


  1. Upto Rs. 4.00 lacs: Without guarantors
  2. Above Rs. 4.00 lacs: Pledge of any other tangible security acceptable to the bank OR Equitable mortgage of Property.

Processing Fees:

  1. For Studies in India – NIL
  2. For Studies Abroad – 0.5% of the loan amount maximum Rs. 10000/-


  1. As per extant shareholding norms


Life insurance policy of the student borrower.

Documents Required:

  1. Duly filled prescribed application form
  2. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
  3. Proof of confirmed admission & Estimate of course fees & other expenses (traveling/lodging/boarding)
  4. Fee receipts or proof of payments made.
  5. Copy of Passport & Visa and related documents, if the student is going abroad for higher education.
  6. Income proof of the applicant in the form of
    1. Salaried: last 3 months’ salary slip/certificate or copy of the last three years IT returns or form 16 of last two years, 3 month bank statement.
    2. Businessman: last 3 years’ profit & loss and balance sheet, ITR copies of last three years, 3 month bank statement.

Conditions Apply*

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com