State Bank of India has launched ‘SBI Global Ed-Vantage‘( SBI education loan – overseas) for students who want to pursue higher education abroad.
The key features of ‘SBI Global Ed-Vantage‘ include a collateral free loan at a low interest rate. There has been a steady increase in enquiries by the Indian students for financing studies at the Foreign Universities. Most of the students are trying for prestigious Universities like Stanford, Harvard, MIT, etc. Since the cost of education is on the higher side, the students find it difficult to pursue their studies for want of funds.
The SBI Global Ed-Vantage aims to help those students who want to pursue full time regular courses in foreign colleges/ universities. It aims to cover all courses from regular full time UG/ graduate/PG/ /doctorate courses in science, technology, engineering, mathematics, medicine and management in institutions of the USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
The loan amount varies from Rs 20 Lakh to Rs 1.5 crore, and upto 80% of cost of course is eligible for financing. The girl students will be offered 0.5% concession. Moreover, students can begin re-paying the loan via EMIs , with upto 6 months post completion of the course studied by them.