Key things to know about SBI's Global Ed-Vantage Scheme:
Get the best of #benefits to fulfill your #goal of #studying overseas with SBI Global Ed-Vantage Loan. To know more, visit: https://t.co/3ehXE6gFh4— State Bank of India (@TheOfficialSBI) May 21, 2018
1. The eligible courses for applying SBI's Global Ed-Vantage loan are - regular graduate/ post graduate/ doctorate courses in any discipline offered by foreign Institutes/ universities in USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong and New Zealand. (Also read: SBI Offers Home Loans For NRIs: Eligibility, Amount And Other Details Here)
2. The eligible expenses include- fee payable to college/school/hostel, examination/library/laboratory fee, travel expenses/passage money for studies abroad, purchase of books/equipments/instruments/uniforms/computer at reasonable cost (if required for course completion). Any other expense required to complete the course- like study tours, project work, thesis, etc. can be considered for loan subject to the condition that these should be capped at 20 per cent of the total tuition fees payable for completion of the course, informed SBI. Caution deposit /building fund/refundable deposit supported by institution bills/receipts the amount considered for loan should not exceed 10 per cent of the tuition fees for the entire course. (Also read: Five Home Loan Products Offered By SBI. Details Here)
3. The minimum loan amount that can be applied is Rs 20 lakh and maximum amount can go up to Rs 1.5 crore.
5. The processing fee is Rs 10,000 per application. Simple interest is charged during course period plus moratorium period, said SBI, which also offers credit cards.