{"id":10891,"date":"2024-03-06T11:46:01","date_gmt":"2024-03-06T06:16:01","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=10891"},"modified":"2024-08-06T17:44:14","modified_gmt":"2024-08-06T12:14:14","slug":"sbi-global-ed-vantage-education-loan","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/","title":{"rendered":"SBI Global Ed-vantage Education Loan to Study Abroad"},"content":{"rendered":"\n<p>SBI Global Ed-vantage is one of the most popular schemes for education loans to study abroad. The bank offers up to INR 1.5 crore at an affordable interest rate under this scheme. Students who want to study abroad in a foreign country can avail this loan by applying directly on the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/vidya-lakshmi-education-loan-sbi\/\"><strong>Vidya Lakshmi portal SBI education loan<\/strong><\/a>.&nbsp;<\/p>\n\n\n\n<p>SBI Global Ed-vantage scheme is exclusively for overseas studies in reputed universities and top-notch courses. Students can also claim tax benefits under section 80(E) of the Income Tax Act for paying interest on this loan. Check all major features, eligibility criteria, interest rates etc for the SBI Global Ed-vantage education loan scheme here.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-sbi-global-ed-vantage-education-loan\" data-level=\"2\">SBI Global Ed-vantage Education Loan<\/a><\/li><li><a href=\"#h-sbi-global-ed-vantage-education-loan-eligibility-criteria\" data-level=\"2\">SBI Global Ed-vantage Education Loan Eligibility Criteria<\/a><\/li><li><a href=\"#h-interest-rate-under-sbi-global-ed-vantage-education-loan\" data-level=\"2\">Interest Rate under SBI Global Ed-vantage Education Loan<\/a><\/li><li><a href=\"#h-sbi-education-loan-offers-for-female-students\" data-level=\"2\">SBI Education Loan Offers for Female Students<\/a><\/li><li><a href=\"#h-documents-required-for-global-ed-vantage-education-loan\" data-level=\"2\">Documents Required for Global Ed-vantage Education Loan<\/a><\/li><li><a href=\"#h-apply-online-for-sbi-global-ed-vantage-education-loan\" data-level=\"2\">Apply Online for SBI Global Ed-vantage Education Loan<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sbi-global-ed-vantage-education-loan\"><span id=\"sbi-global-ed-vantage-education-loan\">SBI Global Ed-vantage Education Loan<\/span><\/h2>\n\n\n\n<p>SBI Global Ed-vantage education loan to study abroad is provided to students who want to study in a foreign university pursuing a job-oriented program. The minimum and maximum amount under this loan are INR 7.5 lakh and 1.5 crore respectively. Check all major features of the SBI Global Ed-vantage below:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Particulars<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Name of Scheme<\/td><td>SBI Global Ed-vantage Scheme<\/td><\/tr><tr><td>Minimum Eligibility Criteria<\/td><td>Indian citizens above 18 years of age<br>Must have secured admission to a reputed university abroad<\/td><\/tr><tr><td>Repayment Period&nbsp;<\/td><td>Up to 15 years<\/td><\/tr><tr><td>Maximum Amount<\/td><td>INR 1.5 crore<\/td><\/tr><tr><td>Rate of Interest&nbsp;<\/td><td>11.15% Floating Interest Rate<\/td><\/tr><tr><td>Processing Fee<\/td><td>INR 10,000 per application<\/td><\/tr><tr><td>Approval<\/td><td>Loan sanction before i20\/Visa<\/td><\/tr><tr><td>Moratorium<\/td><td>Course period + 1 year or 6 months after getting the job<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sbi-global-ed-vantage-education-loan-eligibility-criteria\"><span id=\"sbi-global-ed-vantage-education-loan-eligibility-criteria\">SBI Global Ed-vantage Education Loan Eligibility Criteria<\/span><\/h2>\n\n\n\n<p>The bank has prescribed some of the essential eligibility criteria for the SBI Global Ed-vantage education loan. It is essential to check and make sure that you are fulfilling all essential eligibility criteria before applying for the loan. If the loan is rejected due to eligibility criteria then it will impact your credit report. Check some of the major eligibility criteria for SBI Global Ed-vantage Education Loan:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The student must be an Indian citizen of a minimum of 18 years of age<\/li>\n\n\n\n<li>The admission must have been confirmed in a reputed university abroad<\/li>\n\n\n\n<li>The co-applicant must have a good credit score<\/li>\n\n\n\n<li>There shall be a stable source of income for the co-applicant<\/li>\n\n\n\n<li>The credit score must be good i.e. above 750<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Want an education loan at affordable, low and competitive interest rates? Check our blog on <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/how-to-secure-a-good-education-loan-at-a-low-interest-rate\/\"><strong>How to Secure Education Loan at Low-Interest Rate<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-interest-rate-under-sbi-global-ed-vantage-education-loan\"><span id=\"interest-rate-under-sbi-global-ed-vantage-education-loan\">Interest Rate under SBI Global Ed-vantage Education Loan<\/span><\/h2>\n\n\n\n<p>SBI Education Loan interest rate for the global ed-vantage scheme is calculated considering the EBR (External Benchmark-linked Rate) and the CRP (Credit Risk Premium). The interest rate of education loans from SBI will be of floating rate type which is subject to revision every quarter. Check below the interest for the SBI Global Ed-vantage education loan scheme:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td>Loan Amount (INR)<\/td><td>EBR&nbsp;<\/td><td>CRP<\/td><td>Effective Interest Rate<\/td><\/tr><tr><td>Above 7.5 lakhs up to 1 crore<\/td><td>9.15%<\/td><td>2%<\/td><td>11.15% Floating<\/td><\/tr><tr><td>Concession\/Rebate<\/td><td>&#8211;<\/td><td>&#8211;<\/td><td>0.5% rebate on interest rate for female students<\/td><\/tr><tr><td>Further Rebate<\/td><td>&#8211;<\/td><td>&#8211;<\/td><td>0.5% for students who are buying <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-rinn-raksha-for-education-loan\/\"><strong>SBI RiNn Raksha Policy<\/strong><\/a> for education loans or any other product assigned in favour of the bank\u2019s business<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sbi-education-loan-offers-for-female-students\"><span id=\"sbi-education-loan-offers-for-female-students\">SBI Education Loan Offers for Female Students<\/span><\/h2>\n\n\n\n<p>State Bank of India (SBI) provides special offers to female students who wish to study abroad. For SBI Global Ed-vantage education loans or any other <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-education-loan-schemes\/\"><strong>SBI Education Loan Scheme<\/strong><\/a>, the bank offers a rebate of 0.5% in the interest rate. The major purpose behind offering this discount is to encourage female students of the country to pursue higher education abroad at cheaper education loans. <em>After applicable discounts, the effective rate of interest on SBI education loans for female students will be 10.65%<\/em>. Female students can avail this concession on interest rates while applying for the loan. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-documents-required-for-global-ed-vantage-education-loan\"><span id=\"documents-required-for-global-ed-vantage-education-loan\">Documents Required for Global Ed-vantage Education Loan<\/span><\/h2>\n\n\n\n<p>Documentation is one of the most important parts of an education loan application. Always make sure that you are submitting all the documents properly and details are clearly visible. Any error in the documents related to the student or co-applicant may lead to the rejection of an education loan under any <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-education-loan-schemes\/\">SBI education loan scheme<\/a>. <\/p>\n\n\n\n<p>Check the list of <a href=\"https:\/\/fly.finance\/blog\/education-loan\/documents-required-for-the-sbi-education-loan\/\">documents required for the SBI Global Ed-vantage Education loan<\/a> below:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>KYC Documents<\/strong><\/td><td><strong>Academic Documents<\/strong><\/td><td><strong>Financial Documents<\/strong><\/td><\/tr><tr><td>Aadhaar Card\/Driving License<\/td><td>Mark sheet of 10th, 12th, Graduation (if applicable)<\/td><td>Asset-Liability Statement of Co-applicant or Guarantor (For loans above Rs 7.50 lacs)<\/td><\/tr><tr><td>PAN Card<\/td><td>Admission Proof<\/td><td>For Salaried Persons:<br>(a) Latest Salary Slip<br>(b) Form 16 OR latest IT Return (ITR V)<\/td><\/tr><tr><td>Passport<\/td><td>Gap Certificate<\/td><td>Last six months Bank Account Statement for the Parent, Guardian or Guarantor<\/td><\/tr><tr><td>Voter ID Card<\/td><td>Copies of letters conferring scholarships or any other grants.<\/td><td>Copy of the Sale Deed of the collateral in case of a secured loan&nbsp;<\/td><\/tr><tr><td>Passport size photographs<\/td><td><\/td><td>Business Address and Latest IT Returns in case of non-salaries person<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Know all about <\/strong><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/kotak-mahindra-bank-forex-card\/\"><strong>Kotak Mahindra Bank Forex Cards<\/strong><\/a><strong> for international students.&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-apply-online-for-sbi-global-ed-vantage-education-loan\"><span id=\"apply-online-for-sbi-global-ed-vantage-education-loan\">Apply Online for SBI Global Ed-vantage Education Loan<\/span><\/h2>\n\n\n\n<p>As per the guidelines issued by the Government of India, all the applications for education loans will be submitted through the Vidya Lakshmi Education Loan portal. The students are suggested to visit the portal and register themselves to initiate the loan application process. Check the steps involved in filling out the application form:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Visit the Vidya Lakshmi Education Loan portal<\/li>\n\n\n\n<li>Click on \u2018Student Login\u2019 and fill out the registration form<\/li>\n\n\n\n<li>You will get a user ID and password on your email<\/li>\n\n\n\n<li>Use the same to log in after refreshing the page<\/li>\n\n\n\n<li>Select the SBI and choose \u2018Global Ed-vantage Education Loan\u2019<\/li>\n\n\n\n<li>Fill out the loan application form and upload the relevant documents<\/li>\n\n\n\n<li>Wait for the bank to verify the details<\/li>\n\n\n\n<li>The bank will communicate with you soon after receiving the application for further requirements<\/li>\n\n\n\n<li>In case there is any kind of delay, visit the nearest branch of SBI and contact the nodal officer for an education loan<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1710310282079\"><strong class=\"schema-faq-question\">What is the SBI Global Ed-vantage Education Loan?<\/strong> <p class=\"schema-faq-answer\">SBI Global Ed-vantage education loan scheme is exclusive for students who want to study abroad in a foreign university. The loan is available at an affordable rate of interest with discounts and other offers.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710310292002\"><strong class=\"schema-faq-question\">Can I get a 50 lakh education loan from SBI?<\/strong> <p class=\"schema-faq-answer\">Yes. You can get INR 50 lakh education loan from SBI under various schemes like SBI Global Ed-vantage loan, <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-shaurya-education-loan\/\"><strong>SBI Shaurya Education Loan<\/strong><\/a> etc.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710310298864\"><strong class=\"schema-faq-question\">What is the interest rate for an SBI Education loan to study abroad?<\/strong> <p class=\"schema-faq-answer\">This education loan is available at an interest rate of 11.15% to 12%.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710310307134\"><strong class=\"schema-faq-question\">Is there any discount provided by the bank?<\/strong> <p class=\"schema-faq-answer\">A rebate of 0.5% is provided in the interest rate to female students. Also, all those students who are buying SBI RiNn Raksha policy or any other product assigned in favour of the bank will get a discount of 0.5% in the interest rate.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710310314135\"><strong class=\"schema-faq-question\">What is the maximum amount of loan under the SBI Global Ed-vantage scheme?<\/strong> <p class=\"schema-faq-answer\">The maximum amount under the SBI Global Ed-vantage scheme is INR 1.5 crores.<\/p> <\/div> <\/div>\n\n\n\n<p>This was all about the SBI Global Ed-vantage Education loan to study abroad. Always check the terms and conditions and the entire loan agreement before initiating the process of an education loan.<\/p>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/loans\">education loans<\/a>, the best <a href=\"https:\/\/fly.finance\/international-bank-account\">bank accounts for students<\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/forex\">forex<\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><thead><tr><th><strong>Related Blogs<\/strong><\/th><\/tr><\/thead><tbody><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/yono-sbi-education-loan\/\"><strong>YONO SBI Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/apply-for-education-loan-refinance\/\"><strong>How to Apply for Education Loan Refinance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-student-loan-scheme-vs-sbi-global-ed-vantage-scheme\/\"><strong>SBI Student Loan Scheme Vs SBI Global Ed-vantage Education Loan<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 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class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>SBI Global Ed-vantage is one of the most popular schemes for education loans to study abroad. The bank offers up to INR 1.5 crore at an affordable interest rate under this scheme. Students who want to study abroad in a foreign country can avail this loan by applying directly on the Vidya Lakshmi portal SBI &#8230; <a title=\"SBI Global Ed-vantage Education Loan to Study Abroad\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/\" aria-label=\"Read more about SBI Global Ed-vantage Education Loan to Study Abroad\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":10893,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-10891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SBI Global Ed-vantage Education Loan to Study Abroad<\/title>\n<meta name=\"description\" content=\"Check here all about the SBI Global Ed-vantage Education Loan scheme to study abroad. 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With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310282079","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310282079","name":"What is the SBI Global Ed-vantage Education Loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"SBI Global Ed-vantage education loan scheme is exclusive for students who want to study abroad in a foreign university. The loan is available at an affordable rate of interest with discounts and other offers.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310292002","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310292002","name":"Can I get a 50 lakh education loan from SBI?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes. You can get INR 50 lakh education loan from SBI under various schemes like SBI Global Ed-vantage loan, <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-shaurya-education-loan\/\"><strong>SBI Shaurya Education Loan<\/strong><\/a> etc.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310298864","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310298864","name":"What is the interest rate for an SBI Education loan to study abroad?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"This education loan is available at an interest rate of 11.15% to 12%.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310307134","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310307134","name":"Is there any discount provided by the bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"A rebate of 0.5% is provided in the interest rate to female students. Also, all those students who are buying SBI RiNn Raksha policy or any other product assigned in favour of the bank will get a discount of 0.5% in the interest rate.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310314135","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/#faq-question-1710310314135","name":"What is the maximum amount of loan under the SBI Global Ed-vantage scheme?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The maximum amount under the SBI Global Ed-vantage scheme is INR 1.5 crores.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=10891"}],"version-history":[{"count":5,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10891\/revisions"}],"predecessor-version":[{"id":14382,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10891\/revisions\/14382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/10893"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=10891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=10891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=10891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}