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Finance your education abroad with SBI Global Ed-Vantage

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If your first step to become successful starts with obtaining the best quality education, choose to apply for it. Everyone deserves higher-quality studies that can provide a better and secure future. However, with every level of study, the education expenses increase dramatically. To top that, there are additional expenses such as project fee, education supplies, uniform, travel, library fee, monthly utilities, etc.  It is an undeniable fact that quality education is expensive especially overseas studies. Nevertheless, it is now an element that can be dealt with.

When an esteemed bank like State Bank of India offers education loans that are filled with advantages, one must consider it. SBI is a popular and highly relied banking institution in India. It has incepted student-friendly schemes for higher education aspirants through their Global Ed-Vantage program. This is a student loan scheme that allows study abroad aspirants to dream big and acquire a future with better opportunities. The SBI Global Ed-Vantage is an overseas education loan that provides higher education expenses for full-time courses in foreign institutions/universities. Their key features include –


�? Faster – Global Ed-Vantage is known for its quick application process, students simply have to fill out an application form by visiting the SBI Global Ed-vantage online application portal. The form is easy to fill and quickly initiates the process of getting an education loan

�? Lighter – Looking for a loan with lower interest rates? Global Ed-Vantage is the right choice. It offers education loans with impressive interest rates. If your dream university is falling out of your calculated budget, apply for this perfectly structured education scheme that allows students to not only dream big but also help in achieving them

�? Higher – If you are worried about funding your eminently expensive cost of education overseas, don’t. Global Ed-Vantage offers education loans ranging from 20 lakhs up to 1.5 crore rupees. Therefore, if you are looking to pursue a course that requires a larger investment, consider applying for this education funding scheme

�? Easier – If it hasn’t been said enough times, let us reiterate that the SBI Global Ed-Vantage has features which are easy to understand and follow. Individuals have the advantage to pay off their student loans through the EMI (Easy Monthly Installment) facility which is available up to the duration of 15 years after course completion.

�? Early Approval – SBI Global Ed-Vantage has the record of approving loans early – another great feature to accelerate your aim to study abroad. In many scenarios, where students require loan sanction before Visa , Global Ed-Vantage loan will be your savior. This advantage improves the chance of visa approval

�? Tax Benefit under section 80 (E) – Individuals can acquire the tax benefit of the Income Tax India, Act of 1961 under section 80 (E) by availing of Global Ed-Vantage loan

Eligibility Criteria

Courses funded by the Global Ed-Vantage scheme

�? Anyone with an enrollment or application confirmation letter from a regular institute/university conducting graduate or post-graduate or doctorate degree can apply for SBI Global Ed-Vantage loan

�? The loan is applicable for individuals willing to enroll in universities/colleges/institutions located in The United States, United Kingdom, Canada, Australia, Europe, Singapore, Singapore, Japan, Hong Kong, and New Zealand

Education expenses eligible under the SBI Global Ed-Vantage loan

�? Primary expenses – Tuition fee, Hostel Fee, Examination Fee, Library Fee, Laboratory Fee, Transportation Fee

�? Secondary expenses – Purchase of a laptop, books, uniform, and instrument. Fee for study tours, project work, thesis, etc

�? Tertiary expenses – Funding for ‘RiNn Raksha’, insurance for loans by State Bank of India

Processing Fee and Rate of Interest of SBI Global Ed-Vantage loan

�?  In order to get your funding application to study abroad processed, an initial amount of Rs 10,000/- (+ applicable GST) needs to be deposited

�? Several aspects need to be taken under consideration before approving a loan. The processing fee takes care of all these steps. SBI assures every individual a hassle-free experience

�? SBI Global Ed-Vantage follows the simple interest charges during the course period and moratorium period. Individuals can clear their education loan within a duration of 15 years after course completion

Security and Re-payment details

�? Tangible collaterals ( even third-party collaterals) are accepted in the form of a security deposit

�? Repayment plan of education loan will begin after 6 months of course completion

�? Easy Monthly Installments that are available up to the duration of 15 years after commencement of repayment

Documents Required

To process a bank loan – The applicant and the co-applicant must submit the following mentioned documents.  Ensure all the documents submitted to the bank are self-attested.



  • 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



  • Passport size photographs of Student/Parent /Co-borrower /Guarantor (2 copies each)



  • Asset-Liability Statement  of Co-applicant / Guarantor



  • Latest Salary Slip & Form 16 (For Salaried Persons)



  • ITAO / IT Returns for last 2 years ( if IT Payee) duly accepted by ITO



  • 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



  • Submission of OVD (refer to table below)



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:

  1. Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
  2. Property or Municipal tax receipt;
  3. Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public-Sector Undertakings, if they contain the address;
  4. 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.

 [Provided that the customer shall submit OVD updated with current address within a period of three months of submitting the above documents]

SBI’s Global Ed-Vantage is definitely one of the most reliable student loans. Their features and advantages have managed to fulfill the longing dreams of many. Therefore, now is the best time to stop dreaming and start achieving one of your many milestones, inquire about India’s trusted education loan today.

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