SJMSOM, IIT Bombay has branches of two national banks in their campus and one of the bank is State Bank of India (SBI) which has one Education Loan Scheme exclusively for reputed institutes like SJMSOM & IIT Bombay, named “SBI Scholar Loan”. It’s a pre-approved loan scheme subject to submission of required documents by students. The loan is sanctioned by the campus branch itself. It is a collateral free loan has lower interest rate, interest subsidy during moratorium period whose family income is below INR 4.50 Lacs & no processing fees. The first semester fees paid to the institute is also reimbursable.