Studies abroad (above Rs. 7.50 lakhs)

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SBI Global Ed-Vantage Scheme

SBI Global Ed-Vantage Scheme

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SBI Global Ed-Vantage Scheme is an overseas education loan exclusively for those who wish to pursue full time regular courses at foreign colleges/universities.

Key features include:

  • Loan amount above ₹7.50 lakhs upto ₹3.00 crores
  • Collateral free loan Upto ₹ 50.00 lakhs for select premier institutions.
  • Repayment through EMI upto 15 years
  • Loan sanction/ disbursement prior to i20/Visa
  • Tax Benefit under section 80(E)

Open your account abroad while still in India:

For UK:

Namaste UK-https://sbiuk.statebank/namaste-uk-account

For Canada:

GIC-https://ca.statebank/sgic

For State Bank of India (California), USA

Global Student Checking Account & Global Start Checking Account -https://www.sbical.bank/nra-services

Eligible Courses - Studies Abroad

Regular Graduate Degree/Post-Graduate Degree/Diploma/Certificate/Doctorate Courses in any discipline offered by foreign Institutes/Universities in USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand and Europe [Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom], United Arab Emirates (UAE)

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 life insurance/ credit life policy to improve insurance-coverage of the 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 or while availing first disbursement.
  • Processing Fee: 0.50% of loan amount (Minimum ₹10,000 and Maximum ₹50,000) plus applicable GST.
  • Simple Interest will be charged during Course Period + Moratorium Period
  • Please click here for 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 will 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

Checklist for Education Loan

Forms

Loan Application Form

Asset-Liability Statement of applicant/Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs)

KYC Documents

Applicant with KYC compliant account with SBI

New Customer/ KYC non-compliant account with SBI

No fresh KYC document is required.

Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card.

Address proof to be provided in case of change of address.

PAN is mandatory if not available in system.

PAN is mandatory if not available in your account

Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity

AADHAR to be updated for any application for subsidy schemes of government.

AADHAR to be updated for any application for subsidy schemes of government.

Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record.

Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record.

Student Academic details

Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result

Proof of admission to course [Offer Letter/ Admission Letter/ ID card if available]

Schedule of expenses for course

Copies of letter conferring scholarship, free-ship, etc. (if any)

Gap certificate, if applicable

Income Proof for Co-applicant/ Guarantor

Salaried

Non-Salaried

Latest Salary Slip or Salary Certificate

Business address proof

Copy of latest Form 16 or IT Returns (ITR V)

Latest IT returns

Account Statement

Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s

Security

Immovable Security (Land/Building):

Movable Security

Permission for construction (where applicable)

Bank Deposit (TDR/ STDR/ RD),

Copy of non-agriculture land permission

Insurance Policy (SBI Life/ LIC),

Copy of Sale Deed and other documents of title to property in respect of immovable property

Govt Securities/Bond issued by PSUs,

Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt

Mutual Fund schemes of SBI MF (FMP / DAF)

Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)

FCNR deposits.

Any other document required to establish the chain of title


Apply Now

Last Updated On : Monday, 07-09-2026

Interest Rates

6.90% p.a.*

*T&C Apply.

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