SBI Education Loan

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Rate of Interest


Processing Fees

₹ 10,000

Margin Money


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Established in 1955, the State Bank of India (SBI) is India’s largest public sector bank in terms of assets, deposits, branches, customers, and employees. The bank offers education loans to eligible students who wish to pursue higher education in India or abroad.

The Global Ed-Vantage education loan scheme offers secured education loans to Indian students who want to pursue higher education abroad. Under this scheme, students can borrow up to INR 1.5 Cr to fund their education abroad. To secure an education loan under this scheme, students have to pledge collateral that holds at least 90% value of the total loan amount.

For example - If a student wants to secure a loan amount of INR 50 Lakh, then his collateral value should be atleast INR 45 Lakh.

Please note, under this scheme, collateral security offered by a third party (other than parents) can also be accepted.

Check SBI Education Loan Eligibility

Overview of the Global Ed-Vantage education loan scheme



Loan amount

INR 7.5 Lakh - INR 1.5 Cr

Rate of interest

11.15% (Floating)
(0.5% concession for female applicants)

Processing fees

INR 10,000 + GST (Non-refundable)

Margin money*

INR 7.5 Lakh-INR 20 Lakh - 15%

INR 20 Lakh - 10%

Property evaluation charges

Approximately INR 7,500
(Note - property evaluation charges are subject to change, they may vary depending on one’s location and property)

Moratorium period*

Course duration + 6 months

Repayment tenure

15 years

*Moratorium period is the time duration during which you are not required to make payments toward your education loan.

*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.

Total Interest to be paid


Total Payment Principal + Interest


Your EMI per month will be


Eligibility criteria of the Global Ed-Vantage education loan scheme

  • Age: The applicant must be an Indian citizen and at least 18 years of age or older at the time of application.
  • Education qualification: The applicant should have secured admission to a recognized university or institution for a course/program that leads to the chosen degree/diploma.
  • Academic performance: The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.
  • Co-applicant: The applicant must have a co-applicant, who could be a parent or a legal guardian, with a regular source of income and good credit history.
  • Course and country of study: Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities are covered. Pathway courses leading to the main course are sometimes included under the total expenses, which can be financed as a part of the total expenses. In the case of pilot training courses, the courses need to have the approval of the country-specific aviation regulatory authority.

  • Country of study: SBI offers financial assistance for the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe [Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom].

  • Collateral: SBI accepts the following assets as collateral:
    • Residential property, buildings
    • Fixed deposits

What is Rinn Raksha Insurance?

Rinn Raksha is an insurance scheme offered by the State Bank of India (SBI) for its education loan borrowers. This insurance scheme provides protection to the borrower's family in the unfortunate event of the borrower's untimely demise during the repayment tenure of the loan.

Under the "Rinn Raksha" scheme, SBI offers two types of insurance coverage options to education loan borrowers: Group Credit Life Insurance (GCLI) and Term Life Insurance (TLI). The GCLI provides coverage against the outstanding loan amount in case of the borrower's demise, while the TLI provides coverage against the total sum assured.

Not only this, students who opt for this insurance are eligible for an additional 0.5% concession on the overall interest rate of their education loan.

Documents required for education loan in SBI

The documents required for an education loan from SBI depend on several factors, primarily your academic and professional history, your co-applicant's financial and credit profile, and the location of the property or asset, which you offer as collateral.

  1. Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  2. Education loan application form.
  3. Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ Driving License/ Aadhaar card.
  4. Passport
  5. Past academic record.
    • 10th standard mark sheet
    • 12th standard mark sheet
    • Under graduate result (semester-wise)
  6. Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
  7. Proof of admission: admission letter (A conditional admission letter is also applicable).
  8. Statement of expenses.
  9. 2 passport-size photographs.
  10. Loan A/C statement of one year (if applicable)
  11. Bank account statement of the student (if applicable)
  • Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
  • Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of Driving license/ Aadhaar card.
  • 2 passport-size photographs.
  • Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).
  • If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
  • Legal documents of the collateral/ property documents.
  • Income proof for salaried co-applicant/guarantor

    1. Salary slips for the last 3 months.
    2. Copy of Form 16 of the last 2 years or copy.
    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.
    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.

The list of documents required for collateral, depends on several factors, primarily: property type, purchase history, and location. Broadly, the following documents are required:

Common documents:

  1. Registered sale deed.
  2. Approved plan or map of the constructed property.
  3. 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:

Mumbai or Pune

  • NA order
  • Urban land ceiling order
  • NOC from a builder or society
  • Share certificate
  • Letter of allotment
  • Conveyance deed of society
  • If CIDCO / MHADA property: NOC and transfer letter


  • Urban land ceiling certificate
  • NA certificate, if not included in the sale deed
  • 7/12 extract, if not included in the sale deed
  • Encumbrance certificate


  • RTC (Record of tenancy certificate)
  • Conversion order (from agriculture to residential)
  • Khata certificate ( A or B )
  • Property tax receipt
  • Encumbrance certificate

How to apply for an education loan at SBI via GyanDhan

To secure an education loan from SBI, you can apply online at the SBI website. Once you fill out the application form online, you will have to visit the nearest SBI branch with all your documents. To avoid these complex steps, you can simply apply for your education loan via GyanDhan.

GyanDhan is an online platform that helps students in India to finance their education abroad. With us, you can get your education loan sanctioned in four simple steps:

Apply Online

Free doorstep document collection

Processing and Approval

Loan Sanction and Disbursal

Apply Online For Your Education Loan


Getting your SBI education loan through GyanDhan

Guaranteed best loan

GyanDhan is committed to providing you with the most competitive education loan available in the market. We strive to bring you the best possible deal. If you happen to come across a better offer, we will cover the difference in interest rates for the entire duration of your education loan.

Doorstep service

For SBI education loans, GyanDhan provides doorstep pickup service of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Kolkata.

100% free of cost services

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. In case of any bottlenecks, GyanDhan will always be by your side!

Low turnaround time

GyanDhan officials coordinate with various departments within SBI to secure a loan approval in just 15-20 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.

The GyanDhan effect in SBI


With GyanDhan

Without GyanDhan

Document pickup service from home 

Yes (7 RO cities)


Personalized document checklist according to profile & area



Branch visits



Pre-visa disbursements



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.

Request a Call Back from our Education Expert

Written by Anam Shams

Anam Shams is a seasoned professional in the study abroad field with deep knowledge of admissions and loans. With a passion for helping aspiring students fulfill their academic dreams, Anam combines extensive experience with a commitment to simplifying the complex processes of studying overseas. A trusted advisor, Anam empowers students to navigate admissions seamlessly and secure financial support, making international education more accessible and attainable

Specializes in:
Education loan , Study Abroad Admissions

Photo aman jain
Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.

Specializes in:
Education loan , Study Abroad Admissions

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Frequently Asked Questions

How can I check the SBI education loan status?

You can check the status of your SBI education loan application on your GyanDhan account dashboard.

How is SBI education loan EMI calculated?

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.

Is there any interest rate concession on interest rates available?

Students who avail of the 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.

Is there a prepayment penalty on SBI education loans?

There is no penalty on prepayment of an education loan after 6 months of loan disbursal.

Does the SBI education loan cover accommodation expenses, like housing or off-campus flat on rent?

Yes. The SBI education loan amount covers living and accommodation expenses.

Is there any SBI education loan Subsidy available?

There are two interest rate subsidy schemes launched by the government - 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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