State Bank of India Offering Study Abroad Loan

 

When it comes to pursuing higher studies abroad, one of the major concerns is how to finance the foreign degree. Majority of the aspirants then turn to availing an education loan. In India, there are many public banks, private banks like State Bank of India, Bank of Baroda, Axis Bank, ICICI Bank and NBFCs like HDFC Credila and Incred that offer a loan to the Indian students. In this blog, we are going to take a closer look at various aspects of overseas education loan offered by State Bank of India. So, let’s get straight into it! 


State Bank of India, one of the prominent financial lenders in India is the first choice of study overseas aspirants when it comes to availing an overseas education loan for foreign studies. Alike all other financial institutions, SBI also offers two types of education loans i.e., Secured Education Loan and Unsecured Education Loan. SBI being a government bank, there are various advantages of offering a foreign education loan from the aforesaid bank. Read on to know!

Advantages of SBI Education Loan

• Collateral loan up to 1.5 Crores
• Lowest rate of interest
• Co-applicant is eligible for tax deduction benefits under section 80E
• Girl students are given 0.50% of concession on ROI
• Pre-Visa disbursement of tuition fees and living expenses
 

SBI Global Ed-Vantage Loan 

Study overseas aspirants availing education loan for undergraduate, postgraduate, pathway programs, diploma program can apply for SBI Global Ed-Vantage Loan. Some of the major factors of the SBI Global Ed-Vantage Loan are as follows:

SBI Global Ed-Vantage covers the following expenses for higher education abroad:

• Tuition fees of the university
• Accommodation cost including mess expenses (On-campus or Off-campus)
• Air Ticket Fare (One-time)
• Student Health Insurance
• Purchase amount of books, equipments, uniform
• Purchase amount of laptop
• Any other expenses required to complete the program
 

For study overseas aspirants, SBI Global Ed-Vantage Scheme is an ideal one to finance their overseas education. There is a seven-step process to be followed to avail a loan for higher education abroad through this scheme. Aspirants can get in touch with the E’LAN Loans experts for elaborate details regarding the same.


We hope that through this blog we were able to answer your doubts and give you clarity on the SBI education loan. If you have any more queries, do feel free to connect with us. Our loan experts will assist you in choosing suitable education loan option out of Secured Education Loan or Unsecured Education Loan. Apart from this, they will give end-to-end assistance right from loan application to disbursement in the university account. So, apply study loan for abroad studies through Elan and be rest assured.


Book a free consultation today and take a leap towards your dream of studying overseas.

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