1- Scholar Loan:
State Bank of India has exclusive education loan scheme for IIT Bombay Students named "SBI SCHOLAR LOAN" For more details please visit SBI bank branch located inside the campus close to Gymkhana and for features and other details refer below link
https://sbi.co.in/web/personal-banking/loans/education-loans/student-loan-scheme
2- PM-Vidyalaxmi scheme:
The Union Cabinet on 6th November 2024 approved “Pradhan Mantri Vidyalaxmi” (PM-Vidyalaxmi), a Central Sector Scheme to financial support to meritorious students so that financial constraints do not prevent any youth of India from pursuing quality higher education. The broad contours of the scheme are
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A mission mode mechanism will facilitate and drive the extension of education loans to meritorious students who get admission in the top 860 quality Higher Educational Institutions (QHEIs) of the nation, translating to covering more than 22 lakh students every year.
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A special loan product will enable collateral free, guarantor free education loans; made accessible through a simple, transparent, student-friendly and entirely digital application process.
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Loan amounts up to ₹7.5 lakhs will be provided a 75% credit guarantee by the Government of India, to support banks to expand coverage.
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Furthermore, for students with up to Rs. 8 lakhs annual family income, the scheme will also provide for 3% interest subvention on loans up to Rs 10 lakh.
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This is in addition to the full interest subvention already offered to students with up to Rs. 4.5 lakhs annual family income.
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The Scheme is applicable for all Scheduled Banks/Regional Rural Banks (RRBs)/Cooperative Banks.
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Loan applications are made through https://pmvidyalaxmi.co.in
3- Education Loan:
Canara Bank also offers education loan scheme for students of IIT Bombay. For more information, please visit the Canara Bank branch located on campus at the Gulmohar Building. For detailed features and eligibility criteria, please refer to the link below.
https://canarabank.com/pages/pradhan-mantri-vidyalaxmi-scheme#