SBI Education Loan: Check how to apply, documents required and more

The bank has also come up with a list of countries to which this loan can be applied for future studies. This includes universities or colleges in the US, UK, Australia, Canada, Europe, Japan, Singapore, Hong Kong and New Zealand.

Are you planning to take an education loan? The State Bank of India (SBI) has come up with a new loan scheme for students. Known as the ‘SBI Global Ed-Vantage’ loan, this scheme is aimed exclusively at those who wish to pursue their full-time courses at foreign colleges or universities. SBI said that it has brought this out for those students who prefer foreign education to accomplish their career goals.  In terms of details, this loan covers courses such as regular graduate degree courses, post-graduate degree courses, diploma courses and also certificate/doctorate courses. The bank has also come up with a list of countries to which this loan can be applied for future studies. This includes universities or colleges in the US, UK, Australia, Canada, Europe, Japan, Singapore, Hong Kong and New Zealand. The education loan amount starts at Rs 7.50 lakh and can go up to 1.50 crore and it also comes with an interest rate of 8.65 per cent with a special concession of 0.50 per cent for female applicants. The loan repayment process can start from six months after the conclusion of the course, the bank’s guidelines said. The repayment period can be further extended to a maximum of 15 years.