SBI Global Ed-Vantage Education Loan Scheme

Eligible destinations include:

1. Americas: USA, Canada
2. Asia-Pacific: Australia, Singapore, Japan, Hong Kong, New Zealand
3. Europe: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom

Repayment and Moratorium (Repayment Holiday)

1. Repayment commences 6 months after course completion
2. Accrued interest during the moratorium period is added to the principal, and EMIs are fixed accordingly
3. Maximum repayment tenure of 15 years

Eligible Expenses

The following expenses are covered under SBI Global Ed-Vantage:

1. Tuition fees payable to the college, university, or hostel
2. Examination, library, and laboratory fees
3. Travel and passage expenses for studies abroad
4. Purchase of books, equipment, instruments, uniforms, and computers — capped at 20% of total tuition fees for the course
5. Study tours, project work, thesis, and other course-completion expenses — also capped at 20% of total tuition fees
6. Caution deposit, building fund, and refundable deposits supported by institutional receipts — capped at 10% of total tuition fees for the entire course
7. Life insurance or credit life policy premium to enhance loan coverage

Margin

1. Any scholarship or assistantship received must be included in the margin calculation
2. Margin is to be brought in year-on-year, on a pro-rata basis, at the time of each disbursement or in full at the first disbursement

Processing Fee ₹10,000 per application

Interest During Course and Moratorium Period Simple interest is charged during the course period and throughout the moratorium period. Repayment of EMIs begins only after the moratorium period ends.

Security

1. Tangible collateral security is required for loans above ₹50 lakh
2. Collateral security offered by a third party (other than parents) is also accepted

Documents Required

The following is the list of applicable documents required for applying for SBI Global Ed-Vantage education loan schemes: 

Student-Applicant

1. Any one of the following Proof of Identity:  

1. PAN 

1. Passport 

1. Driver’s License 

1. Voter ID card 

1. Any one of the following Proof of Residence or Address: 

1. Recent copy of Telephone Bill 

1. Electricity Bill 

1. Water Bill 

1. Piped Gas Bill or  

1. copy of Passport/ Driving license/ Aadhaar Card 

1. Passport to be mandatorily submitted 

1. Academic Records: 

1. 10th Result 

1. 12th Result 

1. Graduation Result- Semester-wise (if applicable) 

1. Entrance Exam Result e.g. GMAT, GRE, TOEFL, etc. 

1. Offer Letter or Admission Letter from the Institution as proof of admission and conditional admission letter may be considered. 

1. Schedule of expenses or statement of cost of study   

1. Two passport-size photographs 

1. Loan account statement for last one year, if any previous loan from other Banks or Lenders 

Co-Applicant

1. Any one of the following proofs of Identity:  

1. PAN 

1. Passport 

1. Driver’s License 

1. Voter ID card 

1. Any one of the following Proof of Residence or Address:  

1. Recent copy of Telephone Bill 

1. Electricity Bill/Water Bill 

1. Piped Gas Bill or copy of Passport 

1. Driving License 

1. Aadhaar Card 

1. Two passport-size photographs 

1. Loan account statement for last one year, if any previous loan from other Banks or Lenders 

Income Proof for Salaried Co-Applicant/ Guarantor

1. Salary Certificate or salary slip of last three months 

1. Copy of IT Returns for last two financial years or copy of Form 16 for last two years, acknowledged by IT Dept. 

1. Bank account statement for last six months (of Salary Account) 

Income Proof for Self-Employed Co-Applicant or Guarantor

1. If applicable, provide business address proof 

1. If IT payee, then last two years IT returns to be provided 

1. If applicable TDS certificate (Form 16A) also to be provided 

1. Certificate of qualification to be provided if applicant is C.A. or Doctor and other professionals 

1. Bank account statement for last six months 

Expenses Covered Under the SBI Global Ed-Vantage

The following is the list of expenses covered under the SBI Global Ed-Vantage: 

1. Tuition fee.
2. Library and Examination fees.
3. Passage expenses/Travel expenses.
4. Cost of books/uniforms/instruments/computer.
5. Other expenses for completion of course, such as, study work tour, etc. This is subject to the condition that these expenses do not exceed 20% of the total tuition fees.
6. Building fund/refundable deposits/caution deposits. This is subject to the condition that these expenses do not exceed 10% of the tuition fees.

SBI Global Ed-Vantage Loan Repayment Details

Under the SBI Global Ed-Vantage scheme the individual will get 6 months post completion of the course to begin repayment of the loan via Equated Monthly Instalments (EMIs).

Simple interest will be charged during the duration of the course and the moratorium period. The moratorium period can last up to 15 years post completion of the course.

SBI Global Ed-Vantage Customer Support

For any service-related issue, customer can get in touch with SBI:  

1. Calling Customer Help Line Numbers  

1. Contact Customer Grievance Cell at our Local Head Offices 

1. Write to Grievance Cell at our Local Head Offices (Details on Help line Numbers and Grievance Cell available on www.sbi.co.in)  

In case a customer is not satisfied with the handling of grievance by the Local Head Office, a communication may be sent (enclosing the message sent earlier to Local Head Office) to the -  

Customer Service Department,  

State Bank of India,  

State Bank Bhavan,  

16th Floor Madam Cama Road, Mumbai 400 021  

Tel: 022-22029456

Fax: 022 22742431

E-mail address: customercare@sbi.co.in 

Toll free number: 1800-11-2211, 1800-425-3800, and 080-26599990 

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