SBI Skill Loan Up To Rs 1.5 Lakh: Interest Rate, Repayment And More
State Bank of India offers loans for adding new skills to your profile SBI Skill Loan covers professional certification from various courses SBI recently updated its branding with a new monogram after a mega merger
State Bank of India or SBI is offering loans for professionals so that they can add new skills to their profile. SBI's Skill Loans scheme enables "you to get professional certification from any college or course affiliated with the various institutions", according to a tweet by India's largest bank. The Skill Loans covers training at various training institutions besides National Skill Development Corporation and State Skill Corporation, said SBI, which recently updated its branding with a new monogram after its merger with six banks.
(Also read: At SBI, you don't need to maintain minimum balance in these accounts)
State Bank of India offers loans up to Rs 1.5 lakh under the Skill Loan scheme. The Skill Loan comes with an effective interest rate of 9.5 per cent, based on an MCLR or marginal cost of funds-based lending rate of 8 per cent.
SBI's Skill Loan scheme also offers a concession of 1 per cent for a full term, in case the interest is serviced promptly "as and when applied during the moratorium period, including course duration", as per the bank's website.
