login Apply for Loan
login Apply For Loan

SBI Abroad Education Loan Parameters

sbi bank

Loan Limit

Rs. 7.50 Lakhs to Rs. 1.5 Cr

sbi bank

R.O.I

Upto Rs 7.5 Lakhs - 11.15%
Above Rs 7.5 Lakhs - 11.15%

sbi bank

Moratorium\Repayment

6 months \ 15 years

Feature

Description

Margin Money
  • INR 7.5 Lakh - INR 20 Lakhs - 15%
  • INR 20 Lakhs - 10%

Processing Fee

Rs. 10,000 + GST

Processing Time

20 - 25 days

Prepayment Charges

Nil

Study Level & Course
  • Bachelor's degree
  • Master's degree
  • Undergraduate diploma/certificate
  • Graduate diploma

Expenses Covered
  • Tuition fees
  • Living Expenses
  • Books
  • Equipment
  • Instruments
  • Uniforms
  • Reasonably priced computer
  • Study tours
  • Project work
  • Thesis
  • On-campus accommodation or 3 to 6 months of living expenses covered by a Bank Forex Card.

Property Acceptable
  • Residential flat
  • House
  • Open plot (above 2000 sq.ft)
  • Shop
  • Commercial property

“ Loan amount: 85% of the realisable value of the property is sanctioned. “

Collateral & Non-Collateral

Yes

Co-Applicant:
  • Parents
  • Grandparents
  • Immediate family members

Offer Letter
  • In the USA, students can proceed with an education loan application upon receiving the acceptance letter from the university. There is no need to wait for the issuance of the I-20 form.

Eligibility:-

  • Graduation: Job-oriented professional/technical courses offered by reputed institutions.
  • Post-graduation: MS, MCA, MBA, etc., in job-oriented technical/professional courses.
  • Post Graduate Diploma/Certificate courses offered by reputed institutions.
  • Courses conducted by professional bodies like the Chartered Institute of Management Accountants in London, Certified Public Accountant in the USA, etc.
  • Doctorate programs (Ph.D.).
  • Regular degree/diploma courses such as aeronautical, commercial pilot training, shipping, etc.
  • Graduate and postgraduate degree courses, post-graduate diploma courses conducted by colleges or universities recognized by UGC/AIBMS/AICTE/ICMR or other government-approved educational institutions.
  • Courses like CFA, CA, ICWA, etc.
  • Courses conducted by prestigious institutions like IIM, XLRI, IIT, NID, IISc, NIFT, ISB, etc.
  • Degree or diploma in nursing or any discipline approved by the Director General of Shipping, Civil Aviation, or other regulatory bodies if the course is completed in India.
  • Courses conducted by prestigious foreign universities in India.
  • Full-time degree and diploma courses available through entrance tests and selection processes.
  • Full-time Executive Management Courses like PGPX.
  • Part-time graduate and post-graduate courses offered by selected institutes.

Benefits:-

  • Guaranteed best loan options.
  • Doorstep service for convenience.
  • 100% free of cost services.
  • No documentation charges
  • Higher chances of loan approval.
  • Low turnaround time for quick processing

How To Apply:-

  • Apply Online & Upload Your Documents
  • Processing and Approval
  • Loan Sanction And Disbursal

Documents:-

  • KYC of applicant and co-applicants (such as identity proof, address proof, etc).
  • Academic Records
  • Proof of admission
  • Entrance Exam Result(if applicable)
  • Statement of cost of study/ Schedule of expenses
  • Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
  • Bank account statement for last 6 months etc
  • Property Documents (if applicable)

FAQs

Yes, SBI generally offers upto 7.5 lakhs for SBI education loan without collateral.

After the complete documentation, on average, 10 - 15 days are required by the bank to process an education loan.

Apply for an education loan to study abroad because there are many benefits associated with it, including:

  • ● Easy Visa approvals & Tax benefits.
  • ● Lowest Interest rates
  • ● Easy Loan Approvals and Disbursement

No, SBI generally offers upto 7.5 lakhs for SBI education loan without collateral. If you require more than 7.5Lakhs then Collateral is required.

No, we do not charge from our students for the services.

Contact Us