Get overseas education loan from SBI Global Ed-Vantage scheme and turn your dreams into reality

In this competitive world, a quality of education is a must to ensure a complete and successful career for an individual. However, the cost of education is rapidly increasing year on year. In fact, the cost of studying at reputed institutions or study abroad is a dream for most of the youths and parents. However, giving wings to their dreams is the country's largest lender State Bank of India (SBI).

SBI is offering various services competing with private banks on education loans. SBI has announced various measures right from Home Loan for NRIs to other services in the last few months. But this time, SBI has decided to make its customers more happy especially the ones who want to study abroad.

In other words, SBI Global Ed-Vantage is an overseas education loan exclusively for those who wish to pursue full-time regular courses at foreign colleges/universities.

SBI through its official Twitter account said, “With higher loan amount sanctions, fast online application & other benefits, SBI Global Ed-Vantage helps you study abroad. ”

Bank offers Minimum Loan Amount of Rs. 20 Lacs and a maximum loan amount of  Rs. 1.5 Crore.

Students can go for 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 are eligible for the loan. 

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Also, the eligible loan amount includes Fee payable to college/school/hostel including Examination/Library/Laboratory fee.

All the Travel expenses/passage money for studies abroad or Purchase of books/equipments/instruments/uniforms/ computer at reasonable cost, if required for course completion and 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% of the total tuition fees payable for completion of the course.

Check out the key features of the services offered by SBI for the students.

1. Faster: Online application process

2. Lighter: Attractive interest rate

3. Higher: Loan amount of Rs. 20 lakhs to Rs. 1.5 Cr

4. Easier: Repayment through EMI upto 15 years

5. Early Approval: loan sanction prior to i20/Visa

6. Tax Benefit: under section 80(E)

You should keep in mind that the bank charges Rs. 10,000/- per application as a processing fee.