Online Apply SBI Global Ed-Vantage Loan Scheme

Education Loan  Updated date : November 6, 2017 30

SBI Global Ed-Vantage Loan Scheme

  • SBI Global Ed-Vantage is an overseas education loan exclusively for those who wish to pursue full time regular courses at foreign colleges/universities. Key features include:
  • Faster: Online application process
  • Lighter: Attractive interest rate
  • Higher: Loan amount of Rs. 20 lakhs to Rs. 1.5 Cr
  • Easier: Repayment through EMI upto 15 years
  • Early Approval: loan sanction prior to i20/Visa
  • Tax Benefit: under section 80(E)

SBI Global Ed-Vantage Loan Eligible Courses - Studies Abroad
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

SBI Global Ed-Vantage Loan Eligible Expenses

  • 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 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.
  • Caution deposit /building fund/refundable deposit supported by Institution bills/receipts the amount considered for loan should not exceed 10% of the tuition fees for the entire course.
  • Premium of ‘RiNn Rakhsha’ (IRDA License No: UIN: 111N078V01): Finance for ‘RiNn Rakhsha’ will improve insurance-coverage of the loan

SBI Global Ed-Vantage Loan Quantum Of Finance

  • Minimum Loan Amount: Rs. 20 Lacs
  • Maximum Loan Amount: Rs. 1.5 Cr

SBI Global Ed-Vantage Loan Margin

  • Scholarship/assistantship to be included in margin.
  • Margin to be brought in on year-on-year basis as and when disbursements are made on a pro-rata basis.

SBI Global Ed-Vantage Loan Processing Fee:

  • Rs. 10,000/- per application.

SBI Global Ed-Vantage Loan Rate of Interest

Simple Interest will be charged during Course Period + Moratorium Period

Please click here to Rate of Interest

SBI Global Ed-Vantage Loan Security

Tangible collateral security

Collateral security offered by Third Party (other than parents) can also be accepted

Repayment And Repayment Holiday (Moratorium)

SBI Global Ed-Vantage Loan Documents Required

  • Letter of admission
  • Completely filled in Loan Application Form
  • 2 passport size photographs
  • PAN Card of the student and Parent/ Guardian
  • AADHAR Card of the student and parent/ Guardian
  • Proof of identity (driving license/passport/any photo identity)
  • Proof of residence (driving license/passport/electricity bill/Telephone bill)
  • Statement of cost of study
  • Student/Co-borrower/ guarantor’s bank account statement for last 6 months
  • IT return/ IT assessment order, of last 2 years of Parent/ Guardian/ other co-borrower
  • Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
  • Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

#Terms and conditions apply.

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