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Talk to our education loan advisor, and get customised offers for your study abroad requirements.
Our advisors put the student first, and make sure you get the best interest rates and flexible loan repayment options.
Fund Your Master's Abroad with India's #1 Public Bank
SBI brings you a hassle-free education loan experience. Get low interest rates starting @ just 9.25%, to get funds for tuition, living, and travel expenses—all in one place!
SBI brings you a hassle-free education loan experience. Get low interest rates starting @ just 9.25%, to get funds for tuition, living, and travel expenses—all in one place!
Fund Your Master's Abroad with India's #1 Public Bank
SBI supports career aspirations by offering quick & easy education loans (with interest rates @ 9.8%) to students who want to study abroad.
Key benefits 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)
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At least one self-attested copy of the Officially Valid Documents (OVD) mentioned below to be submitted, as proof of identity and address:
Passport
Driving license
Proof of possession of Aadhaar Number
Voter's Identity Card issued by Election Commission of India
Job card issued by NREGA duly signed by an officer of the State Government
Letter issued by the National Population Register containing details of name and address
If the OVD furnished by the customer does not contain updated address, the following documents shall be deemed to be OVDs for the limited purpose of proof of address:
Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill)
Letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial Institutions, listed companies and lease and licence agreements with such employers allotting official accommodation.
Property or Municipal tax receipt
Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public-Sector Undertakings, if they contain the address
Checklist of Documents to be submitted along-with duly filled Loan Application Form
Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result
Proof of admission to course [ Offer Letter/ Admission Letter/ ID card if available]
Schedule of expenses for course
Copies of letter conferring scholarship, free-ship, etc.
Gap certificate, if applicable (self-declaration from student for gap in studies)
Passport size photographs of Student / Parent / Co-borrower / Guarantor (1copy each)
Asset-Liability Statement of Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs)
For Salaried Persons
(a) Latest Salary Slip
(b) Form 16 OR latest IT Return (ITR V)
For other than Salaried Person:
(a) Business address proof (if applicable)
(b) Latest IT Returns (if applicable)
Bank Account Statement for the last six months of Parent / Guardian/ Guarantor
Copy of Sale Deed and other documents of title to property in respect of immovable property offered as collateral security / Photocopy of Liquid Security offered as collateral
Permanent Account Number (PAN) of Student / Parent / Co-borrower / Guarantor
AADHAAR (mandatory, if eligible under various interest subsidy schemes of GOI)
Passport (mandatory for Studies Abroad)
Submission of OVD (refer to table below)
Repayment And Repayment Holiday (Moratorium)
Accrued interest during the moratorium will be added to the principal and repayment in EMI fixed.
Repayment will commence 6 months after completion of course
Repayment upto maximum of 15 years
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
Security
Tangible collateral security
Collateral security offered by Third Party (other than parents) can also be accepted
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]
From Dreams to Disbursement
25000+ Cr
loans requested
Indians served
2.5 lakh
1,304+ Cr
saved in student debt
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