1
Apply Online (5 min)
Fill our short form. No branch visit needed at this stage
Updated 2026 Secured & Unsecured
SBI Education Loan 2026 - EMI Calculator, Rates & Eligibility
Apply for an SBI education loan get up to ₹3 crore. Check eligibility, interest rates, EMI calculator, schemes, and get free expert assistance.
- ✔ Zero foreclosure charges
- ✔ Pre-approval before I-20
- ✔ Approval in 14 working days
- ✔ Processing fee 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST
- ✔ Simple interest during moratorium
₹3 Cr
Max loan amount
8.9%
Lowest interest rate
15 yrs
Repayment tenure
Get Free Loan Assistance
Our expert will call you within 1 working day
Planning to study abroad but worried about finances? The SBI Education Loan under the Global Ed-Vantage & Shaurya schemes offers up to ₹3 crore at just 8.9% interest (for females) with minimal branch visits, 14-16-day approval, and zero foreclosure charges. Apply online through WeMakeScholars, SBI's official national digital partner, and get expert guidance, the fastest branch assignment, and a pre-approval letter before your I-20. Your dream university is closer than you think!!
Key Features of SBI Education Loan
SBI beats private banks on every metric that matters to Indian students. Lower interest rate: 8.9%. Higher loan amount: up to ₹3 Cr. Fixed processing fee: 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST. Faster approval: 14 working days. Longer repayment: 15 years. Simple interest during moratorium. No other lender offers this complete package for abroad studies.
- %Interest RateStarting from 8.9%
- ₹Processing Fees0.5% of loan amount (min ₹10,000, max ₹50,000) + GST
- 💰Margin Money10% of loan amount
- 🏦Loan TypeSecured & Unsecured
- 📄DocumentsMinimal paperwork
- ⏱Approval TimeQuick processing
Which Education Scheme Is Right for You?
Planning to study abroad? SBI's Global Ed-Vantage scheme is built for you, offering loans up to ₹3 Cr, competitive interest rates starting from 8.9%, and a flat processing fee of just 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST. Whether you're planning to study in the USA, UK, Canada, Australia, or other countries, the loan covers tuition fees, living expenses, travel, and more. Before applying, students should also check the SBI education loan eligibility criteria, including co-applicant income, university, course, and collateral requirements. With a repayment tenure of up to 15 years, the scheme makes overseas education more financially manageable.
| Feature | Global Ed-Vantage Secured | Global Ed-Vantage Unsecured | Shaurya Scheme Secured | Shaurya Scheme Unsecured |
|---|---|---|---|---|
| Max Loan Amount | ₹3 Crore | ₹50 Lakh | ₹1.5 Crore | ₹40 Lakh |
| Interest Rate (Female) | 8.9% | 8.9% | 8.4% | 8.9% |
| Interest Rate (Male) | 9.4% | 9.4% | 8.9% | 9.4% |
| For Abroad Studies | YES | YES | YES | YES |
| Collateral Required | YES | NO | YES | NO |
| Processing Fee | 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST | 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST | 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST | 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST |
| Max Repayment | 15 years | 15 years | 15 years | 15 years |
| Pre-Approval Letter | YES | YES | YES | YES |
SBI Education Loan EMI Calculator
Planning your repayment? Use the SBI EMI Calculator to estimate your monthly instalments before applying. Enter your loan amount, interest rate, and repayment tenure to get instant results. With SBI education loan starting at 8.9% interest and repayment up to 15 years, calculate your EMI and plan your finances smartly.
SBI Education Loan EMI Calculator
Adjust any slider - results update instantly
Moratorium interest payment strategy
Monthly EMI (after moratorium)
-
-
Principal borrowed
-
SI during moratorium
-
Interest during repayment
-
Total repayment
-
Moratorium ends
-
Loan fully repaid
-
Moratorium period (simple interest only)
Repayment period (EMIs)
Amortisation Schedule
| Year / Phase | Opening balance | Interest charged | Principal paid | Total paid this year | Closing balance |
|---|
Amortisation table updates automatically when you change the sliders above. Use the button to open in Excel or Google Sheets.
SBI Education Loan Steps
Applying for SBI education loan for abroad studies is simple and fully online. Fill the application form on WeMakeScholars - SBI's official partner. Our team calls you within one working day, verifies eligibility, and guides document collection. Submit documents at your nearest SBI branch. Track your application with a 16-digit reference number. Get approved in just 14 working days with minimal bank visits
2
Expert Calls You
Within 1 working day. We check eligibility & guide on documents
3
Branch Assignment
We assign you to the fastest SBI branch - not just the nearest
4
Loan Sanctioned 🎉
Visit the Branch to receive your sanction letter & disbursement
SBI Bank Education Loan for Abroad Studies - Everything You Need to Know
Dreaming of studying at a top university abroad but worried about funding? The SBI Bank Education Loan - specifically the SBI Global Ed-Vantage scheme - is designed precisely for students like you. Whether you're heading to the US, UK, Canada, Australia, or Europe, SBI makes it possible to pursue your ambitions without letting finances hold you back.
What Makes the SBI Education Loan Stand Out?
When it comes to financing your overseas education, not all loans are equal. The SBI student loan under the Global Ed-Vantage scheme offers a combination of low interest rates, generous loan amounts, and a transparent process that most private lenders simply can't match.
Here's what you get at a glance:
- Loan Amount: ₹10 Lakhs to ₹3 Crore - enough to cover tuition, hostel, books, travel, and miscellaneous expenses at most top-ranked universities abroad.
- SBI Education Loan Interest Rate: One of the lowest in the market - 8.9% for female students and 9.4% for male students. Female students enjoy an additional 0.5% concession, making this one of the most gender-forward loan offerings in India.
- Processing Fee: A flat, fixed fee of just 0.5% of loan amount (min ₹10,000, max ₹50,000) + GST paid directly at the SBI branch - no hidden charges, no percentage-based floating fees that surprise you later.
- Repayment Period: Up to 15 years, giving you plenty of time to repay after you settle into your career.
Who is Eligible for the SBI Global Ed-Vantage Overseas Education Loan?
The Global Ed-Vantage scheme is open to students who have secured admission to a recognised, full-time undergraduate (Bachelor's), postgraduate (Master's), or doctoral (PhD) program at a reputed foreign university. Eligible countries include the USA, UK, Canada, Australia, New Zealand, Singapore, Japan, Hong Kong, and Europe, though applications from other destinations are also considered on a case-by-case basis.
SBI education loan eligibility requires a co-applicant (parent, spouse, or in-laws) and collateral security, either immovable property like a house or flat, or liquid assets like Fixed Deposits or LIC policies. Agricultural lands are not accepted as collateral.
How Does the SBI Education Loan EMI Calculator Help You Plan?
Before applying, it's smart to use the SBI education loan EMI calculator or SBI education loan calculator to estimate your monthly repayment obligations. You can enter factor in your loan amount, interest rate, and tenure to get a clear picture of what you'll owe after the moratorium period ends.
The moratorium period for this SBI online loan is your entire course duration plus 6 months, so you don't pay a single EMI while you're still studying. SBI charges only simple interest during this period, which is significantly cheaper than the compounding interest models followed by most private banks and NBFCs.
Why Apply Through WeMakeScholars?
WeMakeScholars is SBI's official national digital partner for overseas education loans - a BITS Pilani startup funded and supported by the Ministry of IT, Government of India. Applying through this platform means:
- Expert guidance from a dedicated education loan team.
- Branch assignment to the fastest-processing SBI branch near you.
- Negotiation on interest rates and fees on your behalf.
- A 16-digit tracking number to monitor your application in real time.
- A cashback of up to ₹3,000 on multiple disbursements.
- The entire process, from filling the application to loan approval, typically takes 14-16 working days, with minimal branch visits required.
The entire process, from application to approval, typically takes 14-16 working days, with minimal branch visits required.
Apply For Your SBI Abroad Education Loan Today
Your international education journey deserves the best financial foundation. With competitive SBI student loan interest rates, flexible repayment terms, and end-to-end support, the SBI Global Ed-Vantage scheme is the smartest choice for funding your study abroad dreams.
Don't let funding stop you from pursuing your dream university. Apply online today and take the first step towards the future!
Have questions about the SBI student credit card, loan eligibility, or documentation? Feel free to reach out to the WeMakeScholars education loan team - they're ready to help.
Verified student reviews
What students say about SBI Education Loan for Abroad Studies
Real reviews from real students who got their SBI education loan sanctioned for studying abroad. No filters, no exaggerations - just honest feedback on the application process, interest rates, branch experience, and overall satisfaction with SBI.
★★★★★
"I have received educational loan for my higher studies in Italy through wemakescholars. Financial officer Kavinyavikasini Karuppuchamy was really helpful from the beginning till the end. She made sure I got all the documents ready for applying and gave me SBI as my loan preference. She patiently responded to all my queries and was quick in action. I got my SBI loan sanction letter in 1 week. The Relationship manager Stalin Sir for SBI loan guided me throughout the process with patience and provided me with quick guidelines for all my requirements as per the country I am going for study. Over all, wemakescholars has made a tedious process real simple with proper guidance and quick assistance. I'm grateful for your help wms team!"
wemakescholars has made the process real simple with proper guidance
★★★★★
"I had an excellent experience with WeMakeScholars while applying for my education loan for studying abroad. Special thanks to FO Mohammed Razil, who guided me throughout the process. Initially, other banks suggested a collateral-based loan, but he recommended SBI and provided clear instructions on how to proceed. Whenever there were delays, he promptly followed up and helped move the process forward. Thanks to his support, my loan was sanctioned smoothly. The entire team was professional, responsive, and highly supportive. Highly recommended for students planning to study abroad!"
They promptly followed up and helped move the process forward
★★★★★
"Recently, I have got my sanctioned letter from IDFC Bank and also in a process with SBI. In this process the Maitri Mahi (Financial Officer) of Wemakescholar's Company helped me a lot and also guided me whenever it was necessary. They always first understand the current situation of student and then help them to accordingly. I will recommend everyone to get help with wemakescholars if you want best loan deal or scholarships, and for Loan process specially contact Maitri Mahi she will help you in your worst case without backing down."
Always understands the current situation of student and then help them
★★★★★
"I had a very positive experience while arranging my education loan for studying abroad. The overall process was straightforward and well coordinated.
I visited the SBI regional office about two weeks before my university deadline to complete the required paperwork for the loan sanction, while also uploading my financial documents on the PM Vidyalakshmi portal. The process moved smoothly and I was able to obtain the sanction letter within the required timeline.
Vimal from WeMakeScholars was orchestrating the process and ensuring that all the steps and documentation were progressing properly. Sripal from SBI guided me through the bank-side procedures required for the education loan sanction.
With their coordination and support, my loan was sanctioned at 8.9% per annum as a non-collateral education loan, which helped me meet my university submission deadline.
Overall, it was a smooth and professional experience, and the guidance provided throughout the process was very helpful for navigating the education loan formalities."
The overall process was straightforward and well coordinated.
★★★★★
"I got my education loan sanctioned through WeMakeScholars, and special thanks to Rimsha for guiding me throughout the process, she was patient, responsive, and really helpful.
One suggestion for students: please double-check the sanctioned amount calculations with your bank before accepting the loan. In my case, SBI mistakenly used the TT Buy rate instead of the TT Sell rate and also miscalculated my tuition fees, which led to a lower sanctioned amount than expected.
While Rimsha and WeMakeScholars provided great support, I’d strongly recommend students to re-calculate and verify the sanctioned amount with the bank officials to avoid surprises later."
she was patient, responsive, and really helpful.
★★★★★
LO
"Getting my education loan approved through SBI was a seamless experience, all thanks to WeMakeScholars. Knowing that they are a government-supported platform under the Ministry of IT gave me complete confidence in their services. From start to finish, Skandan managed my case with great professionalism—making sure I was updated at every step, offering the right advice, and handling the entire process without any complications.
What stood out the most was that their support came at absolutely no cost. I genuinely recommend WeMakeScholars to any student planning to study abroad and looking for a smooth, trustworthy, and efficient loan process through SBI."
What stood out the most was that their support
★★★★★
"I sincerely thank Ms. Paridhi Goyal for her guidance in securing a non-collateral education loan from SBI for my admission to a top QS-ranked university abroad. Her professionalism, clear communication, and deep knowledge of the process made the entire journey smooth and hassle-free. I truly appreciate her support and highly recommend her to anyone seeking assistance with education loans.
"
made the entire journey smooth and hassle-free.
★★★★★
"Recently, I had the opportunity to engage with WeMakeScholars, an initiative supported by the Government of India under the Digital India program for my Education Loan, and I’d like to share my experience.
To be honest, getting an education loan may sound simple, but in reality, it demands a lot of time and energy. From searching for banks with the best policies that suit your needs, to gathering and submitting all the required documents, the process can feel overwhelming. And it doesn’t end there, the constant fear of rejection and the anxious wait for updates only add to the stress.
However, I can confidently say that this burden was eased to a great extent by WeMakeScholars. I especially want to thank Skandan Rajesh, my financial officer from the WeMakeScholars team. He was there right from the beginning, providing me with checklists, keeping me updated at every step, and patiently clearing all my doubts, no matter how small they were.
What makes it even more commendable is that their remarkable service is completely free, something rarely seen these days. I also want to highlight their support in scholarships. Through WeMakeScholars, students get access to a wide range of international scholarships, many of which are need-based, providing crucial help to those who truly require financial support.
I am genuinely grateful for their support and would strongly recommend WeMakeScholars to any student seeking trustworthy financial guidance, particularly for education loans through banks such as SBI."
burden was eased to a great extent by WeMakeScholars
★★★★★
"I wanted to share my experience with wemakescholors. I applied for assistance when I got admitted to University and I got response within 2 working days and my manager Skandan gave me a connection with SBI staff. I was Working in India and simultaneously preparing my visa documentation, honestly I dint had much time , but Mr Skandan and SBI staff made things easier for me and there was no delay with respect to loan process. As a result it made me to focus on my Visa documentation. Thanks to Skandan and Wemakescholor!
"
there was no delay with respect to loan process
4.8★
Google Rating
1,200+
Verified reviews
13,000+
Students funded
₹2,400Cr+
Disbursed
14 days
Avg. approval time
SBI Education Loan
Watch SBI Education Loan in Action
SBI Education Loan for Abroad | Interest Rate, Eligibility & Updated Terms
SBI Education Loan Bina Collateral ke | Abroad Studies ke liye 50 Lakhs
SBI Education Loan Interest Rate 8.4% | Cheapest Education Loan for Abroad
Education Loan Disbursement- How Much to Take, When to Take and Process
Frequently asked questions
Frequently Asked Questions about SBI Education Loan for Abroad Studies
The interest rates for SBI education loans for studying abroad generally vary between 8.4% to 9.4% per annum depending on the plan, security, and the profile of the borrower. Secured loans carry relatively lower interest rates, whereas unsecured loans are priced slightly higher. Women can also be eligible for concessional rate of interest.
No. Interest rates for SBI Shaurya and SBI Global Ed-Vantage loans are not the same. The starting rates for Global Ed-Vantage secured loans range from 8.9% to 9.4%, whereas Shaurya loans are mostly 8.4% to 8.9%, depending on the category of applicant and whether the loan is secured or not.
The Interest will be calculated from the day of the loan disbursement and not after the course ends.
During the course period + moratorium, only simple interest is charged.
EMI repayment starts after course completion + ~6 months.Or the accumulated interest can be compounded with the principal before EMI calculation.
During the course period + moratorium, only simple interest is charged.
EMI repayment starts after course completion + ~6 months.Or the accumulated interest can be compounded with the principal before EMI calculation.
No. SBI has a very clear, transparent structure for abroad education loans. They charge a processing fee of 0.5% of the loan amount (min ₹10,000, max ₹50,000) + GST per application. Besides that, there could be some charges for legal and property valuation for collateral assessment; however, there are no hidden or percentage-based charges.
The processing fee that SBI charges is 0.5% of the loan amount (min ₹10,000, max ₹50,000) + GST
Theoretically, SBI doesn't charge a prepayment or foreclosure fee on education loans that enable to students repay ahead of schedule without penalties (at least according to the norms for public-sector banks under floating rate loans)
Yes, SBI can impose a penalty interest of 2% per annum over the regular interest rate on overdue EMI amounts if the delay in payment extends beyond the sanctioned period. Further charges, if any, are really based on the bank's policy. WeMakeScholars assists all the students right from the start with regards to the repayment plan to make sure that you are able to pay your EMIs on time so that you do not incur any extra charges.
Under the SBI Global Ed-Vantage Scheme, the loan amount is up to ₹3 crore. Collateral-free Loans: up to ₹50 lakh (only for select institutions).
In most cases, the margin will be 10% of the total amount. Scholarships/assistantships granted toward margins are paid on a pro-rata basis at the time of disbursement.
SBI covers nearly all academic expenses, such as:
- Tuition fee
- Hostel and accommodation charge
- Cost of books, instruments and study materials
- Travel including airfare
- Insurance premium
- Exam, library, and other academic fees
- Tuition fee
- Hostel and accommodation charge
- Cost of books, instruments and study materials
- Travel including airfare
- Insurance premium
- Exam, library, and other academic fees
One can apply for an increase in the loan amount even after sanction, but it will be subject to the following:
- Approval of the bank
- Updated cost estimates
- Additional security or collateral, if any
- The borrower's repayment capacity
WeMakeScholars consistently communicates with your allocated SBI branch on behalf of the students; hence, the loan enhancement process will be made simple and quick, and at the same time, it will not interrupt your studies abroad.
- Approval of the bank
- Updated cost estimates
- Additional security or collateral, if any
- The borrower's repayment capacity
WeMakeScholars consistently communicates with your allocated SBI branch on behalf of the students; hence, the loan enhancement process will be made simple and quick, and at the same time, it will not interrupt your studies abroad.
Yes. SBI education loans can be availed by:
Indian citizens
- Students obtaining admission in recognized institutions in India or abroad
- Admission is based on merit/entry test.
Generally:
- A parent or guardian as a co-applicant is compulsory.
- Collateral is required for large amount loans.
Indian citizens
- Students obtaining admission in recognized institutions in India or abroad
- Admission is based on merit/entry test.
Generally:
- A parent or guardian as a co-applicant is compulsory.
- Collateral is required for large amount loans.
Yes. A confirmed letter of admission from an educationally recognised institution/university is compulsory to get loan approval. However, banks may sometimes agree to a conditional offer letter. But the release of funds happens only after confirmed admission
SBI does not impose an upper age limit.
The bank mainly considers:
- Academic profile
- Course viability
- Future repayment capacity
That being said, the loan application of younger candidates with a clear career path is usually preferred during the assessment.
The bank mainly considers:
- Academic profile
- Course viability
- Future repayment capacity
That being said, the loan application of younger candidates with a clear career path is usually preferred during the assessment.
SBI Global Ed-Vantage abroad education loan will finance full-time regular graduate, postgraduate, diploma, certificate, and doctoral courses in any discipline offered by recognised foreign universities and institutions. The eligible programs include professional and technical courses such as engineering, management, medicine, and other career-oriented studies.
Yes. When it comes to abroad education loans:
- Institutions should be internationally recognised and trusted.
- Certain schemes might operate using a pre-approved university list
WeMakeScholars assists students in checking whether their institution is eligible before starting their application.
- Institutions should be internationally recognised and trusted.
- Certain schemes might operate using a pre-approved university list
WeMakeScholars assists students in checking whether their institution is eligible before starting their application.
Yes, SBI education loans require a co-applicant by default.
Co-applicants eligible for the loan are:
- Parent (commonest)
- Legal guardian
- Spouse (only in some cases)
The co-applicant serves as the major source of financial backup and repayment assurance
Co-applicants eligible for the loan are:
- Parent (commonest)
- Legal guardian
- Spouse (only in some cases)
The co-applicant serves as the major source of financial backup and repayment assurance
Yes. The education loan with SBI's Global Ed-Vantage demands a compulsory co-applicant who has a steady, verifiable source of income and a good credit history. SBI checks the repayment capability and CIBIL score of the co-applicant while approving the loan. Before you apply, WeMakeScholars do a thorough evaluation of your co-applicant's financial profile and advise you on how to raise your loan eligibility level.
Yes. Besides parents, immediate family members like siblings, spouses, or guardians can also be co-applicants for an SBI education loan abroad. But the co-applicant is expected to have a regular income and credit history because SBI assesses their capacity to repay and CIBIL score while giving the loan.
WeMakeScholars assist you in finding the best possible combination of co-applicants who meet the eligibility criteria so as to increase your abroad loan approval chance to the maximum level.
WeMakeScholars assist you in finding the best possible combination of co-applicants who meet the eligibility criteria so as to increase your abroad loan approval chance to the maximum level.
In an SBI Education Loan, the co-applicant is equally responsible for loan repayment, and the bank evaluates their income, credit score, and repayment capacity as well. On the other hand, a guarantor serves as a fallback and only becomes accountable in case the borrower fails to repay.
WeMakeScholars explains these differences right at the beginning, so that you can structure the application for foreign education loan in the most efficient manner.
WeMakeScholars explains these differences right at the beginning, so that you can structure the application for foreign education loan in the most efficient manner.
SBI mentions "proof of admission to the course" as a requisite document among the mandatory documents while the loan is being processed.However, getting a sanction before the final visa/I-20 (for foreign education loans) is possible by SBI, but the admission proof must be/has to be present at some stage of processing the loan. With the help of WeMakeScholars, you can start the loan application early and have the money with you long before the submission date at the overseas university.
You are requested to provide:
-Mark sheets of last qualifying examinations (10th, 12th, graduation, etc.)
-Entrance exam particulars (if applicable)
This is done to determine your eligibility and educational record.
WeMakeScholars will customise the academic document checklist specifically for your abroad study profile and share it with you after review.
-Mark sheets of last qualifying examinations (10th, 12th, graduation, etc.)
-Entrance exam particulars (if applicable)
This is done to determine your eligibility and educational record.
WeMakeScholars will customise the academic document checklist specifically for your abroad study profile and share it with you after review.
SBI's official checklist doesn't explicitly mention attestation or translation as must-do. However, documents must be clear and legible. If a document is not in English, then translation might be asked by SBI during verification on a case by case basis. WeMakeScholars provide support in helping students figure out what translation/attestation they'll need in advance, thus ensuring smooth processing and no loan delays.
The bank will ask you for the following:
"Schedule of expenses for the course". This includes tuition, living, travel, etc., and is mandatory for loan assessment. WeMakeScholars enable you to record all the necessary information correctly and very detailed.
"Schedule of expenses for the course". This includes tuition, living, travel, etc., and is mandatory for loan assessment. WeMakeScholars enable you to record all the necessary information correctly and very detailed.
According to SBI:
Identity proof (anyone):
-PAN (if not available, then mandatory)
-Passport
-Driving License
-Voter ID
Address proof:
- Electricity bill / telephone bill / other valid proof
Other:
- Aadhaar (is necessary for subsidy schemes)
- Passport (is mandatory for foreign studies cases)
The precise document checklist is given to you personally by the WeMakeScholars team once your overseas study profile is individually evaluated.
Identity proof (anyone):
-PAN (if not available, then mandatory)
-Passport
-Driving License
-Voter ID
Address proof:
- Electricity bill / telephone bill / other valid proof
Other:
- Aadhaar (is necessary for subsidy schemes)
- Passport (is mandatory for foreign studies cases)
The precise document checklist is given to you personally by the WeMakeScholars team once your overseas study profile is individually evaluated.
Aadhaar is not strictly mandatory for all cases. However, it is a must if you want to avail subsidies from the government.
The primary KYC documents, which are also accepted besides Aadhaar, include PAN, Passport, Driving License, and Voter ID
The primary KYC documents, which are also accepted besides Aadhaar, include PAN, Passport, Driving License, and Voter ID
SBI is not requiring the same address.
- Each applicant can provide their own valid address proof
- Only requirement: documents must be valid and verifiable
WeMakeScholars team efficiently manages such multi-city cases and ensures that your abroad loan processing is not delayed in any way.
- Each applicant can provide their own valid address proof
- Only requirement: documents must be valid and verifiable
WeMakeScholars team efficiently manages such multi-city cases and ensures that your abroad loan processing is not delayed in any way.
During the application, you can submit copies. However, original documents are the ones the branch must verify (standard banking KYC process)
SBI asks:
-Income proof (salary slips/Form 16 if salaried)
-Business proof (if self-employed)
-Bank statements (last 6 months)
-Asset & liability statement
WeMakeScholars will share a personalized co-applicant document checklist with you once they have carefully reviewed your educational loan profile for studying abroad.
-Income proof (salary slips/Form 16 if salaried)
-Business proof (if self-employed)
-Bank statements (last 6 months)
-Asset & liability statement
WeMakeScholars will share a personalized co-applicant document checklist with you once they have carefully reviewed your educational loan profile for studying abroad.
If applicable, yes:
Income Tax Assessment Orders / IT Returns (last 2 years) are the norm for earning co-applicants. WeMakeScholars assesses the financial_documents of your co-applicant at the very beginning, thereby guaranteeing the completeness and accuracy of the submission, which results in quicker processing of overseas loans.
Income Tax Assessment Orders / IT Returns (last 2 years) are the norm for earning co-applicants. WeMakeScholars assesses the financial_documents of your co-applicant at the very beginning, thereby guaranteeing the completeness and accuracy of the submission, which results in quicker processing of overseas loans.
Last 6 months bank account statements of borrower/co-applicant are the norm. WeMakeScholars thoroughly check your co-applicant's bank statements beforehand and identify any potential issues, which are cleared before the documents are submitted to SBI.
SBI insists on:
- Business proof
- Income proof (IT returns, financial statements)
- Asset & liability statement
These are necessary to determine repayment capacity. WeMakeScholars thoroughly reviews self-employed co-applicant profiles upfront, ensuring complete documentation for smooth abroad loan sanctioning.
- Business proof
- Income proof (IT returns, financial statements)
- Asset & liability statement
These are necessary to determine repayment capacity. WeMakeScholars thoroughly reviews self-employed co-applicant profiles upfront, ensuring complete documentation for smooth abroad loan sanctioning.
You have the option to apply both online and offline.
- Submitted through YONO SBI or the Vidya Lakshmi Portal.
For offline applications, visit any SBI branch.
Whatever mode of application you choose, the loan processing will be handled by a specific SBI branch.
It is highly advisable to apply online through WeMakeScholars. Online applications save your time, take very few visits to the branch, give you a 16-digit tracking number and also lead to quicker approval of your abroad education loan, usually within 14-16 working days.
- Submitted through YONO SBI or the Vidya Lakshmi Portal.
For offline applications, visit any SBI branch.
Whatever mode of application you choose, the loan processing will be handled by a specific SBI branch.
It is highly advisable to apply online through WeMakeScholars. Online applications save your time, take very few visits to the branch, give you a 16-digit tracking number and also lead to quicker approval of your abroad education loan, usually within 14-16 working days.
You would do well to go to the branch closest to your home or the residence of your co-applicant.
The loan usually remains under the purview of the home branch or a designated processing branch.
Especially for education abroad, there is no necessity to approach a branch near the institution.
The loan usually remains under the purview of the home branch or a designated processing branch.
Especially for education abroad, there is no necessity to approach a branch near the institution.
SBI usually takes around 15–20 working days to process and approve an education loan after receiving all required documents. Usually it takes 14-16 business days through WeMakeScholars.Our dedicated team will assign the quickest branch, schedule the branch manager's appointments, follow up actively with the RACPC authorities, and even negotiate on your behalf.
For loan sanction, the borrower must submit a complete set of academic, financial, and collateral documents.
- Academic: Admission letter and mark sheets
- Financial: Income proof, IT returns, bank statements
- Collateral (if applicable): Property documents and valuation reports
Sanction is based on academic profile, repayment capacity, and security. After analyzing your entire abroad study profile WeMakeScholars provides you with a customised document checklist.
- Academic: Admission letter and mark sheets
- Financial: Income proof, IT returns, bank statements
- Collateral (if applicable): Property documents and valuation reports
Sanction is based on academic profile, repayment capacity, and security. After analyzing your entire abroad study profile WeMakeScholars provides you with a customised document checklist.
Loan disbursement is done in a well-ordered manner.
-Usually, tuition fees are paid straight to the university.
-Students' accounts may be credited for living expenses.
-Disbursements are done according to fee schedules or semesters.
-Any foreign payments are strictly as per RBI norms.
WeMakeScholars works in sync with your university's payment deadlines when it comes to timing the disbursement, so that the money can be sent abroad without any delay.
-Usually, tuition fees are paid straight to the university.
-Students' accounts may be credited for living expenses.
-Disbursements are done according to fee schedules or semesters.
-Any foreign payments are strictly as per RBI norms.
WeMakeScholars works in sync with your university's payment deadlines when it comes to timing the disbursement, so that the money can be sent abroad without any delay.
You start repayment only after the moratorium period is over.
- Moratorium consists of the course period plus grace time.
- Generally, EMI starts 6 to 12 months post course completion or employment, whichever comes first.
WeMakeScholars make sure that your moratorium terms are properly recorded in the sanction letter, which means you get entire repayment clarity before moving abroad.
- Moratorium consists of the course period plus grace time.
- Generally, EMI starts 6 to 12 months post course completion or employment, whichever comes first.
WeMakeScholars make sure that your moratorium terms are properly recorded in the sanction letter, which means you get entire repayment clarity before moving abroad.
The moratorium period includes:
- Whole duration of the course
- Further 6 to 12 months post-completion
This allows the borrower to find a job before starting to repay.
- Whole duration of the course
- Further 6 to 12 months post-completion
This allows the borrower to find a job before starting to repay.
Interest is levied in the moratorium period.
- One may settle monthly interest payments during the study period or
- One may opt to accumulate it and add it to the principal (capitalised).
Making early interest payments lowers the total loan amount. At WeMakeScholars, we guide students on this crucial decision according to their financial conditions.
- One may settle monthly interest payments during the study period or
- One may opt to accumulate it and add it to the principal (capitalised).
Making early interest payments lowers the total loan amount. At WeMakeScholars, we guide students on this crucial decision according to their financial conditions.
Loan repayment schedules are planned to be flexible.
- After moratorium is over, one may repay over a span of 15 years max.
- EMI amount is decided by the loan quantum, rate of interest, and loan tenure.
- EMI payments begin once the moratorium period ends.
Using this SBI education loan EMI calculator, WeMakeScholars assists you in accurately estimating your EMIs at the very beginning so that you know the exact amount you will be paying in installments once you commit.
- After moratorium is over, one may repay over a span of 15 years max.
- EMI amount is decided by the loan quantum, rate of interest, and loan tenure.
- EMI payments begin once the moratorium period ends.
Using this SBI education loan EMI calculator, WeMakeScholars assists you in accurately estimating your EMIs at the very beginning so that you know the exact amount you will be paying in installments once you commit.
Yes, with bank's permission you can get your loan tenure and other repayment terms changed.This may be allowed for very genuine reasons like job loss, financial crunch, etc.
Usually the bank offers:
-Changing EMI dates / amounts
-Extension in the tenure of the loan
-Offering temporary relief in repayments
-Changing EMI dates / amounts
-Extension in the tenure of the loan
- Offering temporary relief in repayments
The bank considers each of these requests on its individual merits. WeMakeScholars not only contacts SBI branches for you but also keeps visiting them until the point when your restructuring request is processed and your loan issues get resolved.
Usually the bank offers:
-Changing EMI dates / amounts
-Extension in the tenure of the loan
-Offering temporary relief in repayments
-Changing EMI dates / amounts
-Extension in the tenure of the loan
- Offering temporary relief in repayments
The bank considers each of these requests on its individual merits. WeMakeScholars not only contacts SBI branches for you but also keeps visiting them until the point when your restructuring request is processed and your loan issues get resolved.
SBI offers a moratorium that covers the entire period of study plus a grace period.
- Moratorium = Course duration + 6 months
- EMI repayment starts only after this period
Interest is charged at a simple rate during the moratorium period. WeMakeScholars negotiates the best possible repayment period that allows your EMIs to be affordable even after your higher studies abroad.
- Moratorium = Course duration + 6 months
- EMI repayment starts only after this period
Interest is charged at a simple rate during the moratorium period. WeMakeScholars negotiates the best possible repayment period that allows your EMIs to be affordable even after your higher studies abroad.
The moratorium period is by default included in the loan agreement when it is sanctioned.
- No separate application is necessary
- It forms the normal repayment format
WeMakeScholars enables you to employ the SBI education loan EMI calculator ahead of time, so that you can obtain a transparent loan repayment view before you make an overseas loan commitment.
- No separate application is necessary
- It forms the normal repayment format
WeMakeScholars enables you to employ the SBI education loan EMI calculator ahead of time, so that you can obtain a transparent loan repayment view before you make an overseas loan commitment.
A course duration extension will be duly considered for a moratorium extension.
- Notify the bank without delay
- Backing evidence may include a revised course duration or a confirmation letter from the university
The final decision rests with SBI after their verification. WeMakeScholars will provide you with advice on the most suitable repayment structure based on your particular abroad course, university, and career forecast, among other factors.
- Notify the bank without delay
- Backing evidence may include a revised course duration or a confirmation letter from the university
The final decision rests with SBI after their verification. WeMakeScholars will provide you with advice on the most suitable repayment structure based on your particular abroad course, university, and career forecast, among other factors.
Once the moratorium period is over, the repayment process will commence. This is usually after course completion + grace period. Sometimes the borrower may start repaying earlier if they find a job. WeMakeScholars motivates students to employ this helpful aid smartly so that they can drastically reduce the overall amount of interest they will have to pay.
SBI provides the freedom to choose a repayment period that suits the borrower. SBI's maximum tenure post-moratorium repayment is 15 years. Though course is hardly a factor, the duration mostly depends on loan agreement and approval. WeMakeScholars takes a stand for the students by helping them in their most difficult times. It not only reaches out to SBI authorities but also ensures that the most suitable relief outcome is achieved.
EMIs are determined on the total remaining balance not only the principal.
- This also covers interest accumulated during the moratorium (if not paid)
- Unpaid interest is added to the principal amount
With WeMakeScholars, you make use of the SBI education loan EMI calculator first, so that you get a transparent repayment visualization even before you decide to take your foreign loan.
- This also covers interest accumulated during the moratorium (if not paid)
- Unpaid interest is added to the principal amount
With WeMakeScholars, you make use of the SBI education loan EMI calculator first, so that you get a transparent repayment visualization even before you decide to take your foreign loan.
SBI does not have a clear step-up EMI scheme for education loans. However, repayment flexibility can be rolled out depending on the case. If a branch decides to go ahead with it, then it is the borrower's profile that will determine the level of customization. WeMakeScholars counsels you about the ideal repayment plan most fitting for your overseas course, college, and forecasted career path.
Typically, there are no penalties for prepayment of education loans with SBI. You can schedule your partial or full prepayment anytime. This will considerably help in easing your interest burden. WeMakeScholars strongly advises the students to make the most of this facility in a very smart and effective manner so that the overall interest burden can be reduced drastically.
In case a student fails to get a job right after the course, SBI will still offer a moratorium or a repayment holiday period before the EMIs commence. Usually, under the Global Ed-Vantage plan, repayment is due 6 to 12 months after completion of the course, WeMakeScholars has always a focus on helping students in situations like this. We directly talk to the authorities of SBI so that they can provide the best possible relief to students.
One option SBI can consider in situations where a borrower is genuinely facing financial difficulties is loan restructuring or a temporary repayment relief period. It depends on the borrower's profile and the bank's policies. Restructuring usually involves measures such as extending repayment terms, adjusting EMIs, or granting a temporary payment break, along with other supports,
WeMakeScholars works as a mediator for your interests with SBI officials, making sure that your case for the restructuring gets the highest possible sympathetic and favorable consideration.
WeMakeScholars works as a mediator for your interests with SBI officials, making sure that your case for the restructuring gets the highest possible sympathetic and favorable consideration.
In case a student discontinues the course in the middle, SBI may decide not to disburse the loan any further. The repayment commitment can either start immediately or after a short grace period. Besides this, any amount disbursed along with the interest accrued will still be payable to the student and co-applied as per the loan agreement. On your behalf, WeMakeScholars initiates the negotiations with the SBI authorities and explores all possible repayment relief options in order to help you reduce your financial hardship during these times.
If you don't pay your SBI education loan on time and it turns into an NPA, the bank may increase your interest rate and make your credit history bad by reporting nonpayment to credit bureaus and even physically going after recovering the money. For secured loans, SBI can recover dues through the pledged collateral. Also, credit scores of both you and your co-applicant, which would make it difficult for you both to get loans in future.
WeMakeScholars always recommends that one should talk to SBI as soon as one notices any difficulty in loan repayment, even before the account is categorised as NPA.
WeMakeScholars always recommends that one should talk to SBI as soon as one notices any difficulty in loan repayment, even before the account is categorised as NPA.
Closing an SBI education loan is simple. First, pay back the entire outstanding balance of the loan. Next, go to the branch and ask for a loan closure request. Once your documents are verified, the bank will give you a Loan Closure Certificate, No Due Certificate, and also hand over the original collateral documents that were submitted. Additionally, make sure that your CIBIL report shows 'Closed' status for the loan.
SBI generally asks for collateral on education loans above ₹7.5 lakh. But, students going to some premier foreign universities and taking admission under the SBI Global Ed-Vantage scheme can get collateral-free loans up to ₹50 lakh. Loans with collateral can be availed up to ₹3 crore under the scheme. WeMakeScholars will support you in identifying and preparing the right collateral documentation in an efficient manner for abroad education loans.
SBI mainly takes residential houses, flats, plots, and other immovable properties as security for education loans. Sometimes, if customers do not have immovable properties as collateral, the bank may also accept fixed deposits as securities. Agricultural land, disputed properties, and assets with unclear ownership or legal titles, however, are generally not accepted as collateral by the bank.
SBI Global Ed-Vantage abroad education loan provides funding for 90% of the total eligible expenses. Therefore, students have to contribute a minimum of 10% as margin money. When it comes to secured loans, generally SBI demands the collateral to be equivalent to 100% of the loan, however, most commonly the loan granted is 75-80% of the pledged property's value.
Yes. If you go for SBI's Global Ed-Vantage education loan scheme, then third party collateral (not parents) is also acceptable. Relatives, friends, or other guarantors may provide collateral; however, approval from SBI and proper documentation are necessary.
The collateral valuation process for the SBI education loans is handled by legal and technical experts. Before the loan is approved and sanctioned, SBI hires boarded lawyers for property documents verification and authorised valuers for the assessment. WeMakeScholars collaborates directly with a panel of valuers empanelled by SBI, thereby facilitating a quick assessment of the security without delaying your loan sanctioning for abroad education.
SBI carries out a legal investigation:
-Certification is performed by the bank-approved corporate lawyers/advocates
- Title and deed ownership are scrutinized
- Encumbrances are checked (loans, title disputes, etc.)
Legal fees are charged for property use as collateral. WeMakeScholars handles every step of the legal verification process to make sure there are no delays in your abroad loan sanction.
-Certification is performed by the bank-approved corporate lawyers/advocates
- Title and deed ownership are scrutinized
- Encumbrances are checked (loans, title disputes, etc.)
Legal fees are charged for property use as collateral. WeMakeScholars handles every step of the legal verification process to make sure there are no delays in your abroad loan sanction.
If the SBI foreign education loan is secured by a property owned by multiple co-owners, the owners will have to give their consent for the mortgage of the property. Generally, SBI needs identity/address proofs, property ownership documents, and signed consent/NOC from each co-owner. Often, co-owners may be required to sign as co-applicants or guarantors at the time of loan execution as well.
SBI does accept an equitable mortgage by way of deposit of title deed as security for education loan. Charges that may be applicable are stamp duty, mortgage registration, legal verification, valuation charges and CERSAI registration fees, the rate of which vary from state to state as well as according to the value of the property.