SBI Education Loan for Abroad Studies : Eligibility & Interest Rate

State Bank of India offers education loan to study in India or abroad. Eligible students can apply for study loan offered by SBI. Always check rate of interest, repayment amount, and other details before applying for SBI education loan to study abroad.

How much Education Loan can I get from SBI for abroad studies? When it comes to studying out of India the major concern for students is financing. Borrowing an education loan for abroad studies from banks and NBFCs is the smartest way to arrange funds. Students can borrow any amount between INR 7.5 lakhs and INR 1.5 crore under the SBI education loan for abroad studies.

Keep in mind that SBI offer study loans for studying in India and abroad. This article is for students who want to study out side India. State Bank of India is one of the top education loan providers in India.

SBI education loan interest rate is 11.15%. There is a 0.50% concession in interest for girl students. The SBI education loan is famous for slightly lower interest rates and easy repayment methods. In this blog, we are going to discuss all the information about the State Bank of India education loans for studying abroad or in India.

SBI Education Loan for Abroad Studies

Students looking to study abroad can apply for SBI Global Ed-Vantage. It is a part of the SBI Education Loan for abroad studies scheme. Under this loan scheme, eligible students can borrow up to INR 1.5 Crore as the SBI student loan for pursuing higher education abroad. 

SBI Global Ed-Vantage

An education loan initiative introduced by the SBI Education Loan, SBI Global Ed-Vantage, is exclusively provided to students opting for full-time regular courses at foreign colleges and universities. Depending upon the course and the Institute of choice, the loan amount varies from INR 7.5 lakhs to 1.5 Cr. 

Key Highlights for SBI Global Ed-Vantage Scheme

SBI Global Ed-Vantage Scheme Eligibility

Before applying for the SBI Global Ed Vantage Education Loan, students must first check eligibility. Below is a list of conditions that candidates need to satisfy before applying for SBI Education Loan:

• Nationality: Applicant must be an Indian citizen.
• Age: They must be at least 18 years old.
• Accepted Countries: Admission letter from a university in USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, or Europe.

For more details on eligibility, visit Eligibility Criteria for Education Loan.

Documents Required for SBI Education Loan

Check out list of documents required for SBI education loan for abroad studies application.

Note: All documents should be self-attested.

Expenses Covered by SBI Global Ed-Vantage Scheme

Wondering what the expenses are covered under your sanctioned SBI Education Loan amount? Worry no further, read on to know about the expenses that would be taken care off with the loan amount.

• The tuition fee payable towards college/school/hostel facilities.
• All expenses paid towards Examination/Library/Laboratory amenities.
• Travel expenses/passage money required for studies abroad.
• The purchase of books/equipment/instruments/uniforms/ computer at a reasonable cost, if required for course completion and any other expense required to complete the course– like study tours, project work, thesis, etc. would be considered for a 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 /refundable deposit/ building fund supported by Institution bills/receipts would be considered for a loan on condition the amount does not exceed 10% of the tuition fees for the entire course.

Collateral for SBI Student Loan 

The State Bank of India, under its SBI Global Ed-Vantage Scheme, will accept the following guarantee (security) against the loan amount:

• Tangible collateral security
• Collateral security offered by a Third Party (other than parents) would also be considered

To know more about collateral, read Collateral for Education Loan. 

SBI Education Loan Interest Rate 2026

The SBI Education Loan interest rate is what the student would be required to pay:

Moratorium Period

The SBI Education Loan repayment period, or the moratorium period, would commence 6 months after the completion of the said course. Accrued interest during the moratorium period would be added to the principal amount, and repayment can be made in easy EMI options. Repayment can be spread across but not exceeding 15 years.

How Much Will My SBI Education Loan EMI Be?

This is the most important question that a student should ask. Here are a few examples of scenarios to help you plan:

Case Study: Understanding Your SBI Education Loan for Abroad Studies

To clearly make you understand how SBI Global Ed Vantage loan terms work, here is a world example. Let us consider a practical example based on the scheme's highlights.

Rahul got admission in an M.S. in Computer Science program at the University of California, Berkeley (a premier US institution).

• Student: Rahul Sharma (Male)
• Course: 2-year Master's program in Computer Science
• Loan Requirement: INR 50 Lakh

Key Takeaways for Rahul:

1. EMI Burden: After securing a job, Rahul will start paying INR 56,800 per month for the next 15 years to repay the loan principal plus interest.
2. No Concession: Since Rahul is male, he does not qualify for the 0.50% interest concession offered to female students.
3. Collateral: For a loan of INR 50 Lakh, and given the university status, Rahul might be eligible for the collateral-free option up to INR 50 Lakh.