SBI Education Loan for Abroad Studies : Eligibility & Interest Rate
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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.
Also Read:
- SBI Education Loan for Abroad Studies
- SBI Global Ed-Vantage Scheme Eligibility
- Documents Required for SBI Education Loan
- Expenses Covered by SBI Global Ed-Vantage Scheme
- Collateral for SBI Student Loan
- SBI Education Loan Interest Rate 2025
- Repayment Period of SBI Education Loan
- How Much Will My SBI Education Loan EMI Be?
SBI Education Loan for Abroad Studies
Students looking to study abroad can apply for SBI Global Ed-Vantage. Overseas Education Loan, which is a part of the SBI Education Loan 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-Vantag,e 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 INR 1.5 Cr.
Key Highlights for SBI Global Ed-Vantage Scheme
| Key Highlights for SBI Global Ed-Vantage Scheme | |
|---|---|
| Purpose | Higher education abroad (UG, PG, Diploma, Doctorate) |
| Eligible Courses | Full-time, regular programs only |
| Eligible Countries | USA, UK, Canada, Australia, NZ and 23 other countries |
| Loan Amount | INR 7.5 Lakh to INR 3.00 Crore |
| Collateral-Free Option | Up to ₹ 50 Lakh (For Selected Premier Institutions Only) |
| Collateral Requirement | Required for Loans Above INR 20 Lakh (Exempted for Select Institutes) |
| Interest Rate (as of July 2025) | ~9.15% (may vary by credit score & institution) |
| Interest Rate Concessions | - 0.50% for female students |
| Processing Fee | INR 10,000 + GST |
| Moratorium Period | Course duration + 6 months |
| Repayment Tenure | Up to 15 years (post-moratorium) |
| Disbursement Mode | Direct to institution |
| Co-applicant Requirement | Mandatory (parent/guardian/spouse/sibling) |
| Pre-visa Disbursement | Available |
Related Reads:
- Education Loan vs Self-Funding to Study Abroad
- Public v/s Private Education Loan Providers
- Government Education Loan to Study Abroad
- Vidya Lakshmi Portal
SBI Global Ed-Vantage Scheme Eligibility
Before applying for the SBI Global Ed-Vantage Education Loan, candidates are required to check their eligibility for the same. Below is a list of norms which applicants are required to fulfil before applying for the SBI Education Loan:
- Applicant should be a citizen of India.
- Their age should be above 18 years.
- Accepted Countries: Admission offer letter from any university located in USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe.
For more on eligibility, visit the Eligibility Criteria for Education Loan.
Documents Required for SBI Education Loan
Here is a list of documents required for education loan application. List is separate for student and co applicant:
| Section | Document Type | Details / Examples |
|---|---|---|
| Student Applicant | Proof of Identity | Passport (mandatory), Driver’s License, PAN, Voter ID |
| Proof of Address | Electricity/Water/Telephone/Piped Gas Bill, Passport, Driving License, Aadhaar Card | |
| Mandatory | Valid Passport | |
| Academic Records | ||
| Admission Proof | Offer/Admit Letter (conditional also acceptable) | |
| Course Expense Statement | Schedule of Expenses / Cost of Study | |
| Photographs | 2 Passport-size photos | |
| Existing Loan (if any) | Loan A/C statement for last 1 year | |
| Co-applicant | Proof of Identity | Passport, Driver’s License, Voter ID, PAN |
| Proof of Address | Electricity/Water/Telephone/Piped Gas Bill, Passport, Driving License, Aadhaar Card | |
| Photograph | 1 Passport-size photo | |
| Existing Loan (if any) | Loan A/C statement for last 1 year | |
| III. Income Proof (Salaried Co-applicant/ Guarantor) | Salary Proof | Latest 3 months’ Salary Slips or Certificate |
| IT Proof | IT Returns or Form 16 (last 2 years) acknowledged by IT Dept. | |
| Bank Statement | Salary Account – last 6 months | |
| IV. Income Proof (Self-employed Co-applicant/ Guarantor) | Business Proof | Business address proof (if applicable) |
| IT Proof | IT Returns (last 2 years) | |
| TDS Certificate | Form 16A (if applicable) | |
| Professional Certificate | Doctor/CA/Other Professional Qualification Certificate | |
| Bank Statement | Last 6 months |
Note: All documents should be self-attested.
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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 2025
The SBI Education Loan interest rate is what the student would be required to pay as of 11 July 2024:
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.
Repayment Period of SBI Education Loan
The SBI Education Loan repayment period or moratorium period would commence one year after completion of the selected course. Candidates would be required to repay the loan amount spread across a tenure of 15 years from the commencement of the repayment date. In case a second loan has been availed for higher studies later, the applicant would be required to repay the combined loan amount in 15 years after completion of the second course.
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:
| Loan Amount | Interest Rate | Repayment Period | Approximate EMI |
|---|---|---|---|
| INR 10,00,000 | 11% | 7 years | INR 17,100 |
| INR 30,00,000 | 11% | 10 years | INR 41,330 |
| INR 50,00,000 | 11% | 15 years | INR 56,800 |
SBI Education Loan interest rate is 11.15% for students who want to study abroad or in India. There is 0.50% concession in interest rate for girl students. This ROI type is floating and it can be changed with repo rate.
Students should secure a minimum ‘D’ grade to be declared pass in the UK 12th board exam. As per the rules of the UK Board 12th exams, those who obtain an 'E' grade in a subject will not be declared as pass in that subject. Those who could not clear the UK 12th exam can appear for the UK 12th supplementary exam. The UK 12th supplementary exam will be held in July. Through proper preparation and planning, students can easily clear the UK Board 12th exam.
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Comments
(20)
2 years ago
R
2 years ago
R
3 years ago
Hello Athulya. This would entirely depend on the bank you are applying for the loan from. Hence, I would request you to approach multiple banks and decide on the one that suits your interests. you can also try out our education loan tool here: https://studyabroad.shiksha.com/apply-education-loan
m
3 years ago
R
3 years ago
K
3 years ago
R
3 years ago
Hello Kamalprret. Most banks provide education loans. You should just get in touch with a bank close to you to understand the loan application process. You can also make use of our Education loan tool: https://studyabroad.shiksha.com/apply-education-loan
B
3 years ago
R
3 years ago
Hello Bhumika. You are required to apply for an Education Loan if you want to use the money for studying. You can get in touch with a bank near you to understand the loan process. You can also use of our education loan tool, here: https://studyabroad.shiksha.com/apply-education-loan
Here are some key features of SBI global ed vantage loan scheme