SBI Global Ed-Vantage Education Loan
SBI Global Ed-Vantage Education Loan
Empower your ambitions with an education loan of up to 3cr from State Bank of India.
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Overview
State Bank of India offers education loans to support students pursuing higher education in India and abroad. One of the primary schemes for overseas education is the Global Ed-Vantage Education Loan, designed to help students finance postgraduate and professional courses at recognised international universities.
The loan can cover major education-related expenses including tuition fees, accommodation costs, books, travel expenses and insurance. SBI provides flexible repayment options with a moratorium period during the course duration, allowing students to begin repayment after completion of their studies.
- Loan amount up to ₹3 crore for overseas education
- Designed primarily for postgraduate and professional courses abroad
- Flexible repayment tenure up to 15 years
- Moratorium period covering course duration plus additional grace period
- Competitive interest rates compared with many education loan products
- Interest concession available for female students in certain cases
- Coverage for tuition fees, accommodation, travel and study expenses
- Interest paid on education loans may qualify for tax deduction under Section 80E
Applicants typically need to meet the following conditions:
- Applicant must be an Indian citizen
- Applicant must have secured confirmed admission to a recognised foreign university or institution
- Applicant should have completed graduation or equivalent qualification for postgraduate programs abroad
- Admission should be obtained through merit or entrance examination where applicable
- A co-applicant (usually parent or guardian)is required
- Co-applicant must demonstrate adequate repayment capacity
- Loan amount eligibility depends on university ranking, course type, borrower and co-applicant financial profile, collateral availability and other factors each bank may apply during the eligibility check.
Loan eligibility may depend on:
- Course type
- University ranking
- Loan amount requested
- Co-applicant financial profile
- Collateral availability
Interest Rate
Interest rates for SBI Global Ed-Vantage education loans are generally linked to the bank’s external benchmark lending rate (EBLR) plus applicable spread.
Interest rates may vary depending on:
- Loan amount
- Course type
- Institution category
- Borrower and co-applicant financial profile
- Collateral security provided
Processing Fee
Processing fee structure may include:
- Processing fee applicable on loan sanction
- Documentation charges
- Legal and valuation charges if collateral is provided
Applicable taxes may apply on processing fees.
Maximum Amount for Overseas Study
Maximum loan amount under the SBI Global Ed-Vantage schemeis:
Up to ₹3 crore
Loan eligibility depends on:
- Course type
- Institution category
- Co-applicant income profile
- Collateral security provided
Collateral security is generally required for higher loan amounts.
Interest Rate Starts for Overseas Education
Interest rates generally start from approximately ~8.40% per annum onwards, depending on:
- Loan amount
- Institution category
- Borrower and co-applicant financial profile
- Collateral availability
Maximum Amount for Domestic Education Loan
Under SBI’s domestic education loan schemes, loan amounts may be approved depending on:
- Course type
- Institution category
- Borrower and co-applicant profile
- Collateral availability
Loans may finance a substantial portion of the total cost of education depending on eligibility.
Interest Rate Starts for Domestic Education Loan
Interest rates for domestic education loans generally start from approximately ~8% per annum onwards, depending on:
- Loan amount
- Course and institution
- Borrower and co-applicant financial profile
Rates may change according to bank lending policies.
Student Documents
- Admission letter issued by the university or institution
- Academic transcripts and certificates
- Entrance exam scorecards where applicable (IELTS / TOEFL / GRE / GMAT etc.)
- Passport copy for overseas education
- Detailed cost of education provided by the institution
Co-Applicant Documents
- Identity proof (PAN / Aadhaar / Passport)
- Address proof
- Income proof such as salary slips or income tax returns
- Bank statements
Collateral Documents (if applicable)
- Property ownership documents
- Legal verification documents
- Valuation reports
- MITC Most Important Terms and Conditions
- Loan approval is subject to bank credit evaluation and internal policies
- A co-applicant is mandatoryfor education loans
- Collateral security is generally required depending on the loan amount requested
- Interest may accrue during the moratorium period
- Repayment tenure may extend up to 15 years including moratorium
- Loan disbursement may be made directly to the educational institution
- Borrowers must comply with documentation and verification requirements specified by the bank
Education loans from SBI may cover several education-related expenses including:
- Tuition fees charged by the university
- Accommodation or hostel charges
- Books and study materials
- Examination, laboratory and library fees
- Laptop purchase where required by the course
- Travel expenses related to overseas education
- Insurance required by the institution
Interest paid on education loans may qualify for tax deductions under Section 80E of the Income Tax Act, subject to applicable regulations.
Get Your Education Loan in 3 Easy Steps
Mysto has simplified the education loan application process with a quick and secure process. You can apply to multiple banks in three easy steps and get the best benefits.
Create Dashboard & Submit Applications
Get Approvals Within 2 to 7 days
Sign Agreements & Get Funds
Create Dashboard & Submit Applications
Get Approvals Within 2 to 7 days
Sign Agreements & Get Funds
MyStudyOffers Financial Product Disclaimer
Loan terms, interest rates, and eligibility criteria are determined by the respective financial institutions and may change without notice; MyStudyOffers provides information for guidance only and does not guarantee loan approval.
Education Loan Transparency Notice:
MyStudyOffers provides information and connects students with financial institutions offering education loans. Loan approval, interest rates, and terms are determined solely by the respective lender and may change without notice.
Information Source
Source: Official website of the respective financial institution and publicly available lender documentation.
Frequently Asked Questions
Discover answers to commonly asked questions by students on education loans and its processes.
Yes, you can apply for a Pre-admission Sanction Letter, which helps in securing admission and visa approvals.
You can get a collateral-free loan of up to ₹1 crore, depending on eligibility and university ranking.
ICICI Bank offers multiple repayment options , including Full Moratorium, PSI, SI, and Direct EMI. You can choose based on your financial situation.
Yes, a co-applicant (parent/guardian/spouse/sibling) is generally required to strengthen your loan application and repayment assurance.
The loan processing time varies but is usually quick and hassle-free with minimal documentation, subject to eligibility verification.
