To:

State Bank of India

________________

Dear Sir,

SCHOLAR LOAN ACCOUNT NO

ONE TIME OPTION TO SWITCH TO
CURRENT INTEREST RATE STRUCTURE

I/We invite a reference to the scholar loan availed by me/us from the Bank and the loan
documents viz. Arrangement Letter, Loan Agreement etc. executed by me/us on
.. (date) in respect of our Scholar Loan account
no..having current outstanding of Rs..
(Rupees.) only. Interest is payable on the loan at the rate
linked to Base Rate as mentioned in the arrangement letter.

2. I/We understand that State Bank of India is providing an one-time option to existing
Education Loan borrowers to switch over to current card interest rate, which is %
above the 1 year MCLR, present effective rate being % p.a. on payment of one
time switch-over fee of Rs 500+ service tax plus applicable taxes of the outstanding in
the loan account. The interest rate in the account will be reset at the end of every year
from the date of switch-over on the basis of prevailing 1 year MCLR as on the date of
reset.

3. I/We wish to exercise my/our option to switch over to current interest rate structure as
mentioned in para 2. I/We further, enclose a debit note/cheque no
dated for Rs/ or debit my Savings Account NO .
as payment for one time switch-over fee. All the other terms and conditions, I/We had
agreed to, while availing the said Home Loan will remain unchanged. I/We request you
to change the interest rate structure in my above said Scholar Loan account with effect
from (date).

Yours faithfully,

Borrower (s)
Place:
Date:

Term and conditions stated in this letter are accepted by me/us as a guarantor (s).

Guarantor (s)
Place:
Date: