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Study Abroad: All You Need To Know About SBI Education Loans

Study Abroad: SBI Global Ed-Vantage covers a wide range of courses offered by foreign institutes and universities in countries, including the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe.

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Study Abroad: All You Need To Know About SBI Education Loans
Study Abroad: The SBI loan amount ranges from Rs 7.50 lakh up to Rs 1.5 crore.

The State Bank of India (SBI), one of the largest public sector banks, offers loans to students pursuing education abroad, enabling millions to achieve their dreams of higher education overseas. The SBI Global Ed-Vantage scheme is designed to support students in their academic endeavours abroad. Students can check their eligibility for the load and apply for the same by visiting the official website

Eligible Courses - Studies Abroad

SBI Global Ed-Vantage covers a wide range of courses offered by foreign institutes and universities in countries including the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe (Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland). 

Eligible courses include:

Regular Graduate Degrees

Post-Graduate Degrees

Diplomas

Certificate

Doctorate Courses

Eligible Expenses

The scheme supports various expenses required for course completion, such as:

Fees payable to college/school/hostel

Examination, library, and laboratory fees

Travel expenses for studies abroad

Purchase of books, equipment, instruments, uniforms, and computers

Study tours, project work, thesis, and other related expenses (capped at 20% of total tuition fees)

Caution deposit/building fund/refundable deposit (not exceeding 10% of tuition fees)

Premium of 'RiNn Rakhsha' insurance

Key Features

Loan amount: From Rs. 7.50 lakh up to Rs 1.5 crore

Interest Rate: 11.15% (floating), with a 0.50% concession for students availing SBI Rinn Raksha or any other life policy assigned to the bank, and an additional 0.50% concession for female students

Processing fee: Rs 10,000 per application

Repayment: Through EMI for up to 15 years

Application Process: Faster online application process

Early Approval: Loan sanction before i20/Visa

Tax Benefit: Under section 80(E)

With significant loan amounts and flexible repayment options, the SBI Global Ed-Vantage scheme aims to ease the financial burden of students aspiring to study abroad. 

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