The State Bank of India (SBI) offers robust education loan schemes, such as the Global Ed-Vantage, to support students aiming for top global institutions. The SBI education loan college list abroad helps identify eligible universities, empowering students to plan their academic journey with confidence.
This guide explores the details of the SBI education loan college list abroad, including eligible institutions, loan features, and application steps, to help you make informed decisions. Let’s get started without further ado!
Table of contents
- What Are SBI’s Education Loan Schemes for Abroad Studies?
- Eligible Countries and Courses for SBI Education Loans
- SBI’s Approved University List for Education Loans
- Eligibility Criteria for SBI Education Loans
- How to Apply for an SBI Education Loan Abroad
- Key Considerations Before Applying for SBI Education Loan
- FAQ
What Are SBI’s Education Loan Schemes for Abroad Studies?
The SBI Global Ed-vantage education loan to study abroad is designed for students pursuing full-time courses at recognized foreign institutions. This education loan to study abroad provides financial support for a wide range of expenses, making it a popular choice for those targeting prestigious universities abroad.
Understanding the SBI education loan schemes is the first step to accessing the SBI education loan college list to study abroad.
Key Features of SBI Education Loans
The Global Ed-Vantage scheme offers flexible financing options, including collateral-free loans for select institutions. Here are its core features:
- Loan Amount: Ranges from INR 7.5 lakhs to INR 1.5 crores (Secure up to ₹50 lakh in loans without providing collateral for premier universities).
- Interest Rates: The SBI education loan interest rates are competitive, starting at 9.65% for female students and 10.15% for male students, with a 0.5% concession for those opting for SBI’s RiNn Raksha insurance.
- Repayment Period: Up to 15 years, with a moratorium period (course duration + 6 months).
- Covered Expenses:
- Tuition fees
- Hostel and accommodation costs
- Examination, library, and laboratory fees
- Travel expenses for studying abroad
- Books, equipment, uniforms, and computers (up to 20% of tuition fees)
- Caution deposits (up to 10% of tuition fees)
- Processing Fee: INR 10,000 + GST, non-refundable.
This scheme supports a variety of academic programs, including undergraduate, postgraduate, diploma, certificate, and doctoral courses, ensuring flexibility for diverse educational goals.
Also Read:
- SBI Student Loan Scheme vs. SBI Global Ed-vantage Scheme
- SBI Education Loan Processing Time: Check Approval and Verification Time
Eligible Countries and Courses for SBI Education Loans
SBI’s education loans cater to students pursuing full-time courses in specific countries and disciplines. Knowing the eligible countries and courses helps clarify which institutions fall under the SBI education loan college list to study abroad.
Countries Covered by SBI
SBI prioritizes funding for recognized institutions in the following countries:
- United States
- United Kingdom
- Canada
- Australia
- Singapore
- Japan
- Hong Kong
- New Zealand
- Europe (including Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland)
In some cases, SBI considers applications for other countries on a merit or case-by-case basis, broadening access to global education.
Eligible Courses for SBI Education Loans Abroad
SBI supports a range of full-time programs, ensuring students can pursue their desired fields:
- Graduate degrees (bachelor’s)
- Postgraduate degrees (master’s, MBA, MS)
- Doctoral programs (Ph.D.)
- Diploma and certificate courses
- Professional and technical courses (e.g., engineering, medicine, management)
These courses must be offered by recognized foreign institutions to qualify for funding under the SBI education loan college list to study abroad.
SBI’s Approved University List for Education Loans
A common question among applicants is whether their chosen university qualifies for an SBI education loan. While the official SBI education loan college list to study abroad is not publicly exhaustive, the bank provides clear guidelines on eligible institutions, particularly under the Global Ed-Vantage scheme.
Premier Institutions for Collateral-Free Loans
SBI offers collateral-free loans up to INR 50 lakhs for students admitted to 96 premier universities worldwide, selected based on global rankings and post-study opportunities. Below are examples of top universities included in the SBI education loan college list to study abroad:
| Country | Example Universities |
| United States | Harvard University, MIT, Stanford University |
| United Kingdom | University of Oxford, University of Cambridge, Imperial College London |
| Canada | University of Toronto, University of British Columbia |
| Australia | University of Melbourne, Australian National University |
| Germany | Technical University of Munich, Heidelberg University |
| Singapore | National University of Singapore, Nanyang Technological University |
Note: This is not a complete list. Students can verify specific universities by checking with SBI’s official website or contacting a branch.
Non-Premier Institutions
For universities not on the premier list, SBI may still approve loans, but these typically require collateral (e.g., immovable property, fixed deposits, or government bonds) for amounts exceeding INR 7.5 lakhs. The bank evaluates such applications based on the institution’s recognition and the course’s job-oriented nature.
To confirm if your university qualifies:
- Visit SBI’s official website or the Vidya Lakshmi portal.
- Contact your nearest SBI branch for personalized guidance.
- Consult education loan counselors like GyanDhan or Abroad Cube for assistance.
Eligibility Criteria for SBI Education Loans
To qualify for an education loan under the SBI education loan college list abroad, students must meet specific criteria. These requirements ensure loans are granted to committed students pursuing recognized courses at approved institutions.
Here are the SBI’s eligibility standards for its education loans:
- Nationality: Applicants must be Indian citizens.
- Admission: Secure admission to a full-time course (graduate, postgraduate, diploma, certificate, or doctoral) at a university on the SBI education loan college list abroad.
- Academic Record: Minimum 50% marks in Class 10, 12, and bachelor’s degree (if applicable).
- Co-Applicant: A parent, guardian, or relative with a stable income and good credit history must co-sign the loan.
- Collateral: Not required for unsecured loans up to INR 50 lakhs for premier universities; secured loans require collateral like property or fixed deposits.
How to Apply for an SBI Education Loan Abroad
Applying for an SBI education loan is straightforward, with options for both online and offline processes. Understanding the steps ensures a smooth application experience, helping you secure funding for your chosen university from the SBI education loan college list abroad.
Follow these steps to apply:
- Verify Eligibility: Confirm your university is on the SBI education loan college list abroad and check eligibility criteria.
- Gather Documents: Prepare documents like admission letters, academic certificates, proof of identity (e.g., passport, PAN card), co-applicant income proof, and collateral documents (if applicable).
- Submit Application: Apply online via the Vidya Lakshmi portal or visit an SBI branch. Online applications streamline document submission.
- Document Verification: The bank reviews and verifies documents within 7-20 working days.
- Loan Approval and Disbursal: Upon approval, sign the loan agreement. Funds are disbursed directly to the university for tuition or to a savings account/Forex card for living expenses.
Also Read:
Key Considerations Before Applying for SBI Education Loan
Before applying for a loan under the SBI education loan college list abroad, consider these factors to ensure a smooth process and informed decision-making. Increase your loan approval odds with these strategies:
- Check University Eligibility: Verify if your chosen institution is on the premier list to determine loan limits and collateral requirements.
- Understand Costs: Calculate total expenses, including tuition, living costs, and travel, to estimate the loan amount needed.
- Review Interest Rates: Compare rates for secured vs. unsecured loans and factor in concessions for female students or insurance.
- Plan Repayment: Use SBI’s or fly.finance online EMI calculator to estimate monthly repayments post-moratorium.
- Consult Experts: Partners like GyanDhan or Abroad Cube can provide personalized guidance and document checklists.
The SBI education loan college list abroad opens doors to world-class education at premier institutions across the globe. With competitive interest rates, flexible repayment options, and comprehensive coverage, SBI empowers students to achieve their academic dreams without financial stress.
FAQ
The SBI education loan college list includes premier international universities approved by SBI for education loans, with 96 premier institutions eligible for unsecured loans up to INR 50 lakhs. Examples include Harvard, Oxford, and the University of Toronto.
You can find the complete list on SBI’s official website, the Vidya Lakshmi portal, or through partners like GyanDhan or Abroad Cube, which provide country-specific lists for institutions in the USA, UK, Canada, and more.
SBI education loans cover tuition fees, accommodation, travel, books, equipment, and other course-related costs like study tours or projects, ensuring comprehensive financial support.
Collateral is not required for SBI’s unsecured loans up to INR 50 lakhs for premier universities. Secured loans for higher amounts require collateral like property or fixed deposits.
The repayment period for the SBI education loan begins after a moratorium period (duration of the study program plus six months) and can extend up to 15 years, with flexible EMI options.
Yes, the SBI education loan up to INR 7.5 lakhs is available for recognized institutions not on the premier list, but these typically require collateral and have stricter terms.
For SBI education loan, Interest rates start at 9.65% for female students and 10.15% for others, with a 0.5% concession for those opting for SBI’s RiNn Raksha insurance.
Processing time for the SBI education loan, including document verification, typically takes 7-20 working days after submitting a complete application through the Vidya Lakshmi portal or a branch.
Yes, interest paid on the SBI education loan is eligible for tax deductions under Section 80E of the Income Tax Act, providing financial relief during repayment.
Yes, you can apply online for an SBI education loan via the Vidya Lakshmi portal, which streamlines document submission and application tracking, or visit an SBI branch for in-person assistance.
To learn more about bank accounts for students, the best education loans, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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