SBI Global Ed-Vantage Education Loan scheme for abroad study [ New Update August 2021 ]


SBI Global Ed-Vantage Education Loan scheme for abroad study [ New Update August 2021 ]

About SBI Global Ed-Vantage

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

Courses covered under this loan scheme:

· Regular Graduate Degree

· Post-Graduate Degree

· Diploma

· Certificate / Doctorate Courses

Loan amount:
Individuals can avail this loan of starting Rs. 7.50 lacs up to Rs. 1.50 crores

Interest Rate:
SBI provides an attractive interest rates of 8.65% with a special 0.50% concession for female applicants

· Repayment will commence 6 months after completion of course
· Repayment upto maximum of 15 years

Expenses covered in the SBI Global Ed-Vantage scheme
· Travel expense/passage money
· Tuition fees
· Examination/library/lab fees
· Books/equipment/instruments/uniform/computers’ fees at reasonable cost
· Cost of additional requirements like project work/thesis/study tours (not exceeding 20% of total tuition fees)
· Other expenses like caution deposit/building fund/refundable deposit supported by institution bills/receipts (not exceeding 10% of total tuition fees)

Features and Benefits:
· Convenient and fast online application process through SBI’s website
o Applicants can click on ‘Apply Now’, fill in the required details and submit the application process
· Early loan approval: The loan will be sanctioned before the student’s I-20/visa
· Tax exemption under Section 80(E) of the Income Tax Act
· Fee payable to college/school/hostel
· Margin: Margin to be brought in on year-on-year basis as and when disbursements are made on a pro-rata basis. Scholarship/assistantship to be included in margin

Students can apply from given Link :

Murari Garg

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