SBI Global Ed-Vantage 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 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)
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]
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: ₹ 10,000/- per application.
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
