SBI Global Ed-vantage Scheme - Benefits, Scheme Details, & Process

The maximum loan tenure of study loans under the SBI Global Ed-Vantage scheme is of 15 years.

The repayment period for students loans under the SBI Global Ed-Vantage Scheme is Course duration + 6 months.

Eligible degrees are the regular graduate/post-graduate/doctorate courses in any discipline offered by foreign institutes/ universities in countries including the USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong, and New Zealand.

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The documents required vary on the basis of several factors, such as the student's academic and professional history, co-applicant’s financial and credit profile, and the nature and location of the property or asset offered as collateral. In general, the following documents are needed:

From Applicant - 

• Identity proof 
• Address proof
• Passport Mandatory
• Past Academic Record
• Test scores (e.g GMAT, GRE, TOEFL, etc.)
• Admission Letter (Conditional admission letter is also applicable).
• Statement of cost/expenses.
• 2 passport-size photographs.
• Loan A/C statement of one year, if there is any previous loan from other banks/lenders.

From Co-applicant - 

• Identity proof
• Address proof
• 2 passport-size photographs.
• If any previous loan from other Banks/ Lenders, then loan A/C statement of 1 year.
• Legal documents of the collateral/property documents.
   

Step:1- Apply Online:

• Start with a pre-assessment by checking your loan eligibility
• Our education loan counselor interacts with you to understand your financing need in detail
• Fill a detailed SBI loan application form
• We transfer your details to SBI, and you receive an email from SBI acknowledging your application

Step: 2- Free Doorstep Document Collection:

• You can create a customized list of documents by using our document checklist generator.
• If you or your parents live in Mumbai, Delhi, Pune, Bangalore, Hyderabad, Vijayawada or Chennai,, our representative will visit your home/office to inspect and collect all the required documents. We will then submit the documents to a specialized SBI branch.
• If you are in any other city than the above-mentioned, we get in touch with a specialized SBI branch near you and discuss your loan application. You'll either have to upload documents digitally or our associate will pick them up from your home.

Step: 3- Processing and Approval:

• Once all the required documents are submitted, we follow up with the bank officials to make certain of the timely progress of your loan application. We track the loan application at every stage to facilitate its smooth passage.