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SBI Education Loan for Abroad

Bank

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14 days Loan Processing Time

Margin

Margin

10%

Processing Fees

Processing Fees

Rs 10000

Collateral

Collateral

Rs 1.5 Crore

Non Collateral

Non Collateral

NA

Repayment Tenure

Repayment Tenure

Upto 15 years

Cosiger Needed

Cosiger Needed

Yes

Collateral Loans

Up to 1.5 Crore

Non Collateral Loans

NA

Features of State Bank of India
Education Loan Abroad

State Bank of India is dedicated to providing education to deserving students. This helps more Indian students to be able to pursue higher education abroad. They help students enroll in the best institutes all over the globe without worrying about their financial conditions.

Loan Margin: 10% of loan amount

Processing Fees: ₹10,000 per application

FeaturesEducation Loan Details
Loan amount

Upto ₹1.5 Cr (With Collateral)

Margin money

10%

Interest rate

10.15%

Processing fee

10000

Processing time

14 Working Days

Loan tenure

Upto 15 Years

Prepayment charges

Available*

Countries covered

SBI offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc

Moratorium

Course Duration + 6 months

Benefits of State Bank of India Education Loan

  1. Easy Loan Approval

    SBI approves loan prior to i20/Visa

  2. Higher Loan Amount

    SBI offers a loan amount of up to ₹1.5Cr thus avoiding financial barriers for your study abroad dream.

  3. Online Process

    SBI offers hassle free online process to fill the application for study abroad loan.

  4. Flexible Repayment

    The repayment plan of your study abroad loan starts after 6 months of graduation. The highest tenure offered by SBI is 15 years.

How To Apply For SBI

Education Loan For Abroad Studies?

  1. You can get in touch with our team of experts by filling out the form on our website. Lorien will schedule a callback with you and guide you through the process.

  2. From helping you upload documents online to presenting it to the banks, Lorien will help you throughout the application process.

  3. Once all your documents are uploaded & KYC is done, you can expect your loan to get sanctioned within a few working days.

Why Choose Lorien To Get Education Loan From SBI?

  1. Higher Chances of Approval: Generally, banks dismiss education loan applications if they find any missing documents, property issues, or other issues. But with Lorien, you have access to experts who can reach out to the bank and help you resolve your queries on time.

  2. Ease of Use: Students can easily contact us by filling out a form on the website and our most trusted experts will reach out to them to help them with any query. The process is simple and efficient to make your study abroad dreams a reality.

  3. 100% Free Assistance: Our services are free of cost and we do not charge our students for helping them apply for their education loans.

  4. Quicker Loans: Our experts make sure that your education loan is sanctioned as early as possible. We also keep track of the application and make sure that all the requirements from your end are fulfilled.

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Eligibility Criteria For SBI Education Loan Abroad

  1. Eligibility Criteria for Student

    1. Should be an Indian citizen
    2. Should be at least 18 years of age
    3. Should have good academic record
    4. Should have cleared the prerequisite tests such as GRE, IELTS or TOEFL
  2. Eligibility Criteria for Co-applicant

    1. Should have a regular source of income
    2. Should be parent or legal guardian
    3. Should have good credit history
  3. Collateral

    1. Fixed deposits
    2. Residential buildings & properties
  4. Documents Required

  5. For Applicant:

    1. Identity proof (PAN Card or Employee Identity card)
    2. Education loan application form.
    3. Proof of address (Electricity bill, Telephone bill, or Ration card)
    4. Passport
    5. Letter of acceptance of admission proof.
    6. Schedule of expenses including fee structure and living expenses
    7. Marksheets for 10th, 12th grade and semester wise undergraduate result
    8. Marksheet of Any Entrance Exam (CAT, CET, GRE, GMAT, IELTS, TOEFL)
    9. If applicable, loan account statement for last 12 months
    10. If applicable, bank statement of the student
    11. 2 passport size photographs
  6. For Co-applicants:

    1. Identity proof (PAN Card or Employee Identity card)
    2. Proof of address (Electricity bill, Telephone bill, or Ration card)
    3. 2 passport size photographs
    4. Bank statement for last 6 months
    5. If applicable, statement of loan account for last 12 months
    6. Collateral Documents (if required)
    7. Income proof (For Salaried)
    8. Copy of Form 16 of last 2 years
    9. 6 months bank account statement of Salary account
    10. 3 months’ salary slips
    11. Brief summary of the assets and liabilities of the parent, guardian or any other co-borrower.
    12. Income proof (For self-employed)
    13. Proof of Business Address
    14. IT returns of last 2 years
    15. 6 months bank account statement
    16. TDS Certificate
    17. If applicable, certificate of qualification
    18. Brief summary of the assets and liabilities of the parent, guardian or any other co-borrower.

FAQs

Bringing answers to your questions

  • What is the interest rate on education loans for studying abroad, and how is it calculated?

    SBI offers education loans with very low-interest rates. The exact interest rate may vary, and it is advisable to contact them directly or visit their official website for the most up-to-date information.

  • What is the process for applying for an SBI education loan for studying abroad?

    You can apply for an SBI education loan for studying abroad by getting in touch with Lorien. Fill out the form on our website, and our experts will schedule a callback with you. They will guide you through the application process, help you upload necessary documents online, and present the application to SBI. Once all documents are uploaded and KYC is done, the loan is expected to be sanctioned within a few working days.

  • Does SBI offer any special benefits or interest rate reductions for exceptional academic performance?

    SBI's education loans are known for their low-interest rates, providing financial support for students aspiring to study abroad. While SBI may not explicitly mention special benefits for exceptional academic performance, Lorien, as your trusted education loan partner, works diligently to ensure you access the most favorable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalized support to enhance your overall experience.

  • Is there a co-applicant or guarantor required for the loan?

    Yes, a co-applicant is required for SBI's education loan, and it is typically the student's parent(s). In certain cases, a guardian, relative, or siblings can act as the co-applicant.

  • What collateral or security is required for the loan?

    Collateral requirements may vary based on individual circumstances and the loan amount. Lorien, as your dedicated education loan partner, can facilitate this communication, ensuring you receive accurate and personalized information tailored to your specific needs. Contact us to navigate the intricacies of collateral or security for your SBI education loan, making your application process smoother and more transparent.

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