SBI Education Loan

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Interest Rate

10.15% For Women | 10.65% For Men

Processing Fees

₹ 10,000 + GST

Loan Margin


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The State Bank of India is the country’s leading nationalized lender. It offers 5 different types of SBI education loans: Scholar Loan, Global Ed-vantage Education Loan, Student Loan, Skill Loan, and Take-over of an education loan.

  • While Scholar Loan and Skill Loan are for students who want to pursue their higher education in either a premier institute or a vocational college in India, Global Ed-vantage and Student Loan are for students who want to study abroad.
  • Besides this, as a scheduled commercial bank, SBI also provides government schemes such as Dr. Ambedkar Interest Subsidy Scheme for Overseas Studies for OBCs (non-creamy layer) and EBCs, CSIS and Padho Pardesh Interest Subsidy Scheme with most SBI education loan offerings.
  • Since GyanDhan focuses on overseas education only, we will dive into only 2 schemes for education loan in detail: Global Ed-vantage and Student Loan.
  • The document requirements depend on several factors, primarily: your academic and professional history, your co-applicant’s financial and credit profile, and the nature and location of the property or asset, which you offer as collateral.
For overseas education, SBI primarily offers education loan with collateral.Unsecured loans, i.e. loans without collateral are available only for the best of the best colleges, and that too up to ₹ 7.5 lakhs only.

SBI offers subsidies on interest rates for girl students as well as the holders of the RiNn Raksha credit life insurance policy. Besides this, as a scheduled commercial bank, SBI also provides government schemes such as Dr. Ambedkar Interest Subsidy Scheme for Overseas Studies for OBCs (non-creamy layer) and EBCs, CSIS and Padho Pardesh Interest Subsidy Scheme with most SBI education loan offerings.

Since GyanDhan focuses on overseas education only, we will dive into only 2 schemes for education loan in detail: Global Ed-vantage and Student Loan. We will also briefly discuss the Education Loan Take-over scheme, which allows graduates to refinance their existing education loan at a lower rate.

Note: Effective from 22.06.2021, SBI has switched from MCLR to EBLR and the rate of interest will be floating.

Check SBI Education Loan Eligibility

What are the Key Features of SBI Global Ed-vantage and SBI Student Loan Schemes?

Global Ed-vantage -Loan Amount: 20 lakh to ₹1.5 crore | Interest Rate: For 10.65% (Men) / 10.15% (Women) | Margin: 10.0% | Moratorium: Course + 6 months

Student Loan - Loan up to 7.5 Lakh without collateral & Up to 20 lakhs with collateral for India or abroad.| Interest rate 11.15%

Finance For
Global Ed-vantage
Student Loan
Finance for Overseas education only India or abroad, after admission
Loan Amount Range ₹ 20 lakh to ₹1.5 crore Up to ₹ 7.5 lakh without collateral
Up to ₹ 20 lakh with collateral
Interest Rate 11.15%, with additional 0.5% concession for girl students, and
additional 0.5% for Rinn Raksha credit life insurance or similar policyholders.
For current rate, check here
Up to ₹ 7.5 lakh: 11.15%
Above ₹ 7.5 lakh: Same as Global Ed-vantage
0.5% concession for girls is available
Processing Fees ₹ 10,000 + GST, non-refundable NIL
Property valuation charges
Are additional and vary as per the location
Repayment Period
Maximum 15 years
Repayment Holiday / Moratorium period Course period + 6 months 12 months after course completion
Eligible Degrees Regular Graduate/ Post Graduate/ Doctorate Courses in any discipline offered by foreign Institutes/ Universities in: USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong, New Zealand Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses offered by reputed universities; Courses conducted by CIMA, CPA
Margin 10.0% Up to ₹ 4 lakh: NIL Above ₹ 4 lakh: 15.0%
Expenses covered It covers tuition fees, examination/ library/ lab Fees, living expenses, round-trip travel, study material or anything related to studies, and premium of ‘RiNn Raksha’ insurance coverage
Disbursal norms Tuition is disbursed directly to the college. Living expenses can either be loaded onto a prepaid card or transferred to your foreign bank account. Pre-visa disbursal is allowed, wherever mandated.

Total Interest to be paid


Total Payment Principal + Interest


Your EMI per month will be


Which SBI Education Loan Scheme Is Right For You?

Assuming you’re targeting overseas education, if you need ₹ 20 lakhs or more, Global Ed-vantage is the right scheme for you, otherwise, Student Loan is the scheme for you. This is because ₹ 20 lakhs is the minimum amount you can apply for under the Global Ed-vantage scheme.

How Much Can You Borrow From SBI to Study Abroad?

SBI will approve the minimum of the following 3 values as your loan amount:

  1. 90% of the total cost of attendance. As mentioned above, this includes tuition fees, living expenses, and several other study-related expenses.
  2. 70% of your real estate property’s value. This % can range between 65% - 73%, depending on the duration of your course. The longer the duration, the lower the %. For other types of collateral, viz. FD and a few other liquid assets, this % is 90%.
  3. ₹ 1.5 crores

Who is Eligible To Apply For an SBI Education Loan to Study Abroad?

Any student with an admit offer to a graduate or higher degree/diploma course offered by any licensed institution in the following countries: USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand or any European country. There is no specific SBI education loan college list but usually all the well-known colleges in the mentioned countries qualify.

It is important to know that there are 2-3 individuals in an education loan application:

  1. The student will be the applicant or borrower.
  2. Also, it is mandatory to have a co-applicant or a co-borrower. Only your parents, legal guardian or spouse can be a co-applicant. Note that SBI does not have any income-related criteria for the co-applicant. They may be salaried, self-employed or retired.
  3. The property or asset that you provide as collateral may be owned by your co-applicant. If this is the case, your loan application will have 2 individuals only. Otherwise, note that SBI allows for any 3rd party owned collateral, i.e. the owner of the property can be a distant relative or even a friend. This property/asset owner will be the guarantor. In case the property/asset has multiple owners, all owners will need to be guarantors.

Which courses are eligible for an SBI education loan?

Regular Graduate/ Post Graduate/ Doctorate Courses in any discipline offered by foreign Institutes/ universities in the countries eligible for SBI education loans. SBI education loans for medical students are also at offer on the basis of collateral like the other courses.

Which countries are eligible for an SBI education loan?

USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong, New Zealand. Students applying to other countries can also be considered in some cases.

Apply For SBI Education Loan To Study Abroad

Documents Required for Education Loan in SBI

The documents required depend on several factors, primarily: your academic and professional history, your co-applicant’s financial and credit profile, and the nature and location of the property or asset, which you offer as collateral. When you apply to SBI with GyanDhan, we provide a customized documents list - so that you can submit all your documents at one go. In general, the following documents are needed. Note that self-attested copies of all the below documents need to be submitted.

  1. Identity Proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  2. Completely filled-in Loan Application Form (in Takeover of Education loan case)
  3. Address: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card.
  4. Passport Mandatory (in case of study abroad).
  5. Past Academic Record.
    • 10th Result
    • 12th Result
    • Under Graduate Result Semester Wise (If required)
    • Entrance Exam Result - Abroad institutes (e.g GMAT, GRE, TOEFL, etc.)
    • Entrance Exam Result- Domestic institutes (e.g. CAT, CMAT, JEE, NEET, CET, GMAT, GRE, etc.)
  6. Proof of Admission: Admission Letter (Conditional admission letter is also applicable).
  7. Statement of cost/expenses.
  8. 2 passport-size photographs.
  9. Loan A/C statement of one year, if there is any previous loan from other Banks/ Lenders.
  10. Bank account statement of the Student (in Takeover of Education loan case)
  1. Identity Proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  2. Address: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card.
  3. 2 passport-size photographs.
  4. If any previous loan from other Banks/ Lenders, then Loan A/C statement of 1 year.
  5. Legal documents of the collateral/ Property documents.
  6. Bank account statement of the Co-borrower/Guarantor, for the last 6 months (in Takeover of Education loan case)
Income Proof for Salaried Co-Applicant/Guarantor
  1. Salary slips of last 3 months.
  2. Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
  3. Bank account statement for the last 6 months (Salary Account).
  4. Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
Income Proof for Self-employed Co-Applicant/ Guarantor
  1. Business address proof (If applicable).
  2. Last 2 years IT returns ( If IT Payee).
  3. TDS Certificate (Form 16A, if applicable).
  4. Certificate of qualification (for C.A./ Doctor and other professionals).
  5. Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
  6. Bank Account statement for the last 6 months.

We will focus on Real Estate collateral only. The list of documents required depends on several factors, primarily: property type, purchase history, and location. As mentioned above, when you apply through GyanDhan, we will provide a document checklist which is customized as per your specific situation. Broadly, the following documents are required:

Common Documents
  1. Registered sale deed
  2. If the property is a built one, then approved plan / map
  3. Link or chain documents, evidencing the ownership history of the property for the last 30 years
  4. Latest property tax receipt
  5. Occupancy proof

Additional documents if you’re applying for an SBI education loan with a property in the following cities:

  1. Delhi: None
  2. Mumbai or Pune
    • NA order
    • Urban land ceiling order
    • NOC from builder or society
    • Share certificate
    • Letter of allotment
    • Conveyance deed of society
    • If CIDCO / MHADA property: NOC and transfer letter
  3. Hyderabad:
    • Urban Land ceiling certificate
    • NA certificate, if not included in Sale Deed
    • 7/12 Extract, if not included in Sale Deed
    • Encumbrance certificate
  4. Bengaluru:
    • RTC (Record of tenancy certificate)
    • Conversion Order (from Agriculture to Residential)
    • Khata certificate ( A or B )
    • Property tax receipt
    • Encumbrance certificate


Getting Your SBI Education Loan Through GyanDhan

Low Turnaround Time

We coordinate with various departments within SBI to secure a loan approval in just 12 days. This is why 1000s of students trust us with their loan requests every year. If a student applies directly to the bank, the usual SBI loan processing time is around 30-45 days.

Doorstep Service

For SBI Education Loans, we provide doorstep pickup of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Vijayawada. No need to visit the branch! SBI has exclusively partnered with us for the doorstep document pickup facility.

No Cost to You

GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.

Higher Chances of Approval

In case of any missing documents, property issues, or other problems, we approach SBI officials promptly to find solutions. This ensures speedy resolution and significantly increases your odds of approval.

How to Apply for Education Loan in SBI

You can apply online. Once you fill an online form, you need to visit the nearest SBI branch with all your documents. We, at GyanDhan, have been working in close partnership with SBI since 2016, to make your education loan application easy. With us, you follow the below steps:

Apply Online

Free Doorstep Document Collection

Processing & Approval

Loan Sanction & Disbursal

  1. Apply Online:
    • You start with a pre-assessment, fill in your details here.
    • Our education loan counselor interacts with you to understand your financing need in detail
    • You fill a detailed SBI loan application form
    • We transfer your details to SBI, and you receive an email from SBI acknowledging your application
  2. Free Doorstep Document Collection:
    • Using our document checklist generator, you create a customized list of documents for your application.
    • If you or your parents reside in Delhi, Mumbai, Pune, Hyderabad, Bangalore, Chennai or Vijayawada, our representative will visit your home or office to inspect and collect all the required documents. We then submit these documents to a specialized SBI branch.
    • If you are in any other city, we contact a specialized SBI branch near your home over the phone and discuss your loan application with them. We, then, fix an appointment for you to visit the branch with all your documents.
  3. Processing and Approval:
  4. Once documents are submitted, we follow up with SBI officials to ensure timely progress of your loan application. Our team tracks the application at every stage to enable its smooth passage. Key stages that your application goes through are:

    • Document verification [Time taken: 1 working day]
    • Property’s legal and technical assessment. This is done by SBI’s empaneled lawyers and valuators. [time taken: 8 working days]
    • Final decision: Approving authority examines all documents, along with the property assessment, to make a final decision on your education loan application [time taken: 3 days]
  5. Agreement and Disbursal:
  6. Once your loan is approved, the immediate next step is to sign the loan agreement and get the required disbursal. Key steps:

    • First, a lien will be created, in favour of SBI, on the property / asset that you offered as collateral.
    • Then, you, your co-applicant and any guarantor(s) will sign a detailed loan agreement. Here, physical signatures are usually required.
    • You will request the tuition fee to be transferred to the university/ college. For this a demand letter / fee estimate is required. If you applied for living expenses, estimated expenses for the next quarter will be loaded to a prepaid forex card and given to you.

You can check your SBI education loan repayment status online on bank’s website. If you have taken a loan via GyanDhan, you can get in touch with us to get the updates on your loan.

When Should You Apply?

You should apply as soon as you receive your admit offer. I-20 or similar other documents are not required to apply. Even a simple email admit offer is enough to start.
If you have not received your admit offer yet, we can still get an informal assessment started for you. This will reduce the approval time once the admit offer comes in.

Are There Any Hidden Processing Fees Or Terms In SBI’s Overseas Education Loan Scheme?

  • Processing Fees: There is nothing hidden whatsoever. You pay:
    1. ₹ 10,000 + GST as non-refundable processing fees
    2. Property valuation and legal assessment charges vary by the value of the property. Typically, they range between ₹ 5,000 - ₹ 8,000.
    3. Equitable Mortgage creating charge (paid to the government) = 0.2% of the loan amount.
  • Interest Rate: SBI education loan’s interest rate is not fixed but floating. In fact, no education loan provider in India offers a fixed rate of interest. We explain this in more detail in this article. SBI has approved linking of all Schemes under Education Loans to External Benchmark Lending Rate (EBLR). External Benchmark based Lending Rate (EBLR) = External Benchmark Rate (EBR) + Credit Risk Premium (CRP).
    EBR (w.e.f 01-01-2021) is 9.15%; EBLR = 10.65% + CRP.

What is RiNn Raksha Insurance?

SBI RiNn Raksha Insurance is a credit life insurance policy. It is a life insurance that repays your loan. Here’s how it works: to activate the policy, you pay a one-time premium, which is around 1% of the loan amount (actual amount depends on several factors). In the case of the unfortunate event of you passing away, the insurance repays the loan, thus freeing up your co-applicant of the burden and restoring all the rights on the property/asset to the guarantor.

Apply for SBI Education Loan in Less Than 5 Mins..

Another Loan Scheme: SBI Takeover of Education Loans

With this, SBI allows a student to transfer his existing high-interest rate education loan to SBI and hence, reduce his EMI amount. For a student to be eligible for this education loan in SBI, he must be a major, the loan has to be a first-time takeover, and repayment should have begun with official records of regular payments.

S.No. Features Details
1. Loan Amount Minimum ₹ 10 lakhs & Maximum ₹ 1.5 Crore
2. SBI Education Loan Interest Rate 11.15% with 0.5% concession to female students. For current rate, check here
3. Processing Fee NIL
4. Security 100% of the amount of the proposed loan amount
5. Repayment Period Maximum 15 years
6. Top up loan facility Available

Bottlenecks in an SBI Education Loan

Below, we describe typical bottlenecks that you should watch out for, along with ways in which we work around such bottlenecks to fast-track your education loan application.

Branch Side

All the documents are to be submitted before the starting of the sanctioning process. Additional documents may be required. Some SBI branches may not be very education loan friendly! From our experience of processing 1000s of education loans at SBI, we help identify the most experienced and friendly branch for you. We then liaise with the branch officials to present and discuss your case on your behalf. We present a customized checklist at the start so that you have to submit documents only once.

Legal Issues With The Property

The legal papers of your property and the property itself get verified by SBI empanelled advocates. The Turnaround Time (TAT) of the bank and the advocates is high and unpredictable. Also, many a time they don’t try hard enough to look for alternative documents and approaches if they find an issue with the documents or the property. GyanDhan has helped 1000s of students through such tough situations, and we can surely help you!

Technical Issues With The Property

Civil Engineers, empanelled by the SBI, evaluate the property by first visiting it, then measuring it, checking its location and age, and evaluating its Distress Sale Price, Fair Price, and Market Price. The Turnaround Time (TAT) of the Civil Engineer can be quite high and unpredictable. Through systematic follow-up, we get this step completed within 3 working days.

Check SBI Education Loan Eligibility

Case Studies

Removing Obstacles to Secure your Education Loan

When the property's sale deed of the student was not in order

A student with an admit offer from The University of Sydney required a with-collateral education loan of Rs. 40 lakhs. Initially, the student approached the State Bank of India directly but got a negative response from the Branch as his property’s sale deed was not in order. He then applied with us. At GyanDhan, we pre-screen education loan applications to identify key issues and find out the best possible solution available. Post an in-depth discussion with our legal consultant, we found a solution: a correction/conveyance deed. GyanDhan’s on-ground team got that deed executed and also got it registered with the sub- Registrar – that too in only 5 days, with minimal effort from the student. Post this, we formally applied with SBI and got approval for Rs. 40.56 lakhs in only 3 days.


When ownership of the property was not transferred to the legal heir

In another case, another applicant got an admit from San Diego State University and was looking for a with-collateral education loan of Rs. 20 lakhs. The issue with this case was that the property (Collateral) was in the name of the applicant’s father who had passed away recently and was not transferred to the applicant’s mother. Also, the student had a deadline for submitting financial documents. The student’s case was rejected on the property ownership grounds. He then contacted GyanDhan after reading one of our blogs on education loans which he came across while searching for solutions online. After pre-screening the case thoroughly, our representatives approached the Local Head Office of the bank to speak with the Assistant General Manager and helped in getting the ownership of the property transferred. Our team assisted the student throughout the process, helped his family with the hassle of bureaucracy, got the property transferred, and got the loan sanctioned on time, that too meeting the deadline.


When the student was in the 2nd year of the program

In this case, the student was already in her 2nd year of bachelor program at the University of Queensland. Her parents’ savings were utilized to fund her 1st year of the program. The student wanted to apply for loan to finance her remaining course. The student and her parents both were residing in Australia. She applied for around Rs. 50L loan with collateral. The property was in Kerala, India. But the loan application was rejected on the ground that property owners were residing in Australia. After the initial rejection, she approached GyanDhan for solutions. She came to know about GyanDhan through her friend in India who attended a seminar conducted by GyanDhan in Chennai. Our representatives approached the concerned authorities of SBI. We took out the rule book and provided the solution. The parents were called. They flew over to India. We helped them in completing the sanction process and disbursement as well on the same day in SBI. The bank approved a loan of Rs. 50L with Rs. 11L amount disbursed on the same day to the applicant.

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Frequently Asked Questions

You can check the status of your SBI education loan application on your GyanDhan account dashboard.
The SBI education loan EMI can be checked using the GyanDhan EMI calculator. All you need to do is to enter a few details like loan amount, loan tenure, and interest rate. Effective from 22.06.2021, the interest rate offered by the bank is floating and is subject to change every quarter.
The interest rate on SBI education loans is 10.15% for women and 10.65% for men. Please note that this interest rate is after 0.5% concession given by the bank if you take their loan insurance named- RinN Raksha.
Students who avail of SBI RinN Raksha policy, or any other existing life policy receive a 0.5% interest rate concession. There is a further 0.5% concession for girl students.
There is no penalty for paying the loan early.
The SBI education loan amount is disbursed as requested by the student. The student has to submit the amount required for every subsequent disbursal, which will then be transferred to the loan account.
Yes. The SBI education loan amount covers living and accommodation expenses.
There are three interest rate subsidy schemes launched by the government - Padho Pardesh, Dr. Ambedkar Central Sector Scheme, and Central Scheme of Interest Subsidy for education loans. You can read about them here.

SBI Education Loan Reviews - Student's Speak


Swinburne University of Technology

Thank you GyanDhan for such a miracle. I was cornered when I contacted the nearest Canara bank branch, they were asking to submit a lot of documents regarding house property which I was unable to provide. Fortunately, then I came to know about GyanDhan from one of my friends. The next day when I contacted GyanDhan, they assured me that, they will make my dream come true and they kept their promise. Uday sir helped me to get my loan from SBI, he used to call regularly to ask about the process, and even the bank people were very cooperative. The loan got sanctioned in 2 weeks, and I was too much happy when I got the sanction letter. I recommend every student to proceed with GyanDhan as they will do their best to make your dream come true. Thank you Uday sir once again.


Arizona State University

I took my education loan from SBI, and everyone who is reading this is aware of the fact that it usually takes a lot of time and patience to get the loan approval from Public Sector/Nationalized banks. I got mine approved in 20 working days through GyanDhan. I came to know about GyanDhan from one of their interns. After Signing up with them, the whole loan process got simpler and simpler. They called me regularly and kept me updated with the process. If there was any delay in the bank process, they even escalated the issue to the DGM. I never really had to visit the bank, everything was communicated, and updated to me on the call. I would like to personally thank Vibhav, Kavita, and the whole GyanDhan team. You guys are awesome. Keep up the good work.

Nikhila Kunapareddy

University of Massachusetts Boston

I'm extremely gratified with gynadhan. I have searched loans without any collateral and have found gynadhan and gave details what exactly i want. Within 15min after my completion of details on website, gynadhan employee Mr. Siddharth had called me and explained how they can help and what they are expecting from me to proceed the process. I have gave all the details and have went through all the steps of process and successfully i have got sanctioned with reasonable amount of loan. I'm glad and a huge thanks to Mr. Siddharth for helping me out throughout the process with extreme responsibility. Best place to find education loans.

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