SBI GLOBAL ED-VANTAGE SCHEME


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  • 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)

Get the SBI Global Ed-Vantage today! Study abroad and challenge the world!

Eligible Courses - Studies Abroad

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

Eligible Expenses

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

Quantum Of Finance

Quantum Of Finance

  • Minimum Loan Amount: Rs. 20 Lacs

  • Maximum Loan Amount: Rs. 1.5 Cr

Margin

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.

Processing Fee

Processing Fee:

  • Rs. 10,000/- per application.

Rate of Interest

Simple Interest will be charged during Course Period + Moratorium Period

Please click here to Rate of Interest
Security

Tangible collateral security

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

Repayment And Repayment Holiday (Moratorium)
  • Accrued interest during the moratorium to be added to the principal and repayment in EMI fixed.

  • Repayment will commence 6 months after completion of course

  • Repayment upto maximum of 15 years

Documents Required

Checklist of Documents to be submitted along-with duly filled Loan Application Form

I) Student-applicant:
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
  • Passport to be mandatorily submitted
  • Academic Records:
    • 10th Result
    • 12th Result
    • Graduation Result- Semester-wise (if applicable)
    • Entrance Exam Result through which admission is being taken (e.g. GMAT, GRE, TOEFL, etc.)
  • Proof of admission: Offer Letter or Admission Letter from the Institution. Conditional admission letter may be considered.
  • Statement of cost of study/ Schedule of expenses
  • 2 passport-size photographs
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
II) Co-applicant::
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
  • 2 passport-size photographs
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
III) Income Proof for Salaried Co-applicant/ Guarantor:
  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
  • Bank account statement for last 6 months (of Salary Account)
IV) Income Proof for Self-employed Co-applicant/ Guarantor:
  • Business address proof (If applicable)
  • IT returns for last 2 years (if IT payee)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)
  • Bank account statement for last 6 months
Note: All documents should be self-attested.

# Terms and conditions apply.