How to Get Education Loan From SBI?

Rising cost of education is a concern for many aspiring students. Every year, lots of meritorious students fail to pursue their dream course from their dream university due to lack of awareness about education loans.

An increasing number of Indian students are aspiring to pursue higher education abroad, or get into premier universities in India. Pursuing undergraduate and postgraduate degrees is no piece of cake, given the soaring costs of education. While on one hand, there are parents who save up for education costs of their children, or meritorious students getting scholarships, there are those who need a bit of a help. That's where education loans come in handy.

Education loans can seem like a blessing for worthy students. These kinds of loans provide the money for tuition expenses upfront, has lower interest rates as compared to a personal loan, and can be paid-back after the student has started working. However, getting an education loan or paying it back is not as easy as it sounds.

SBI is one of the leading banks in India that provides various education loan products to aspiring students. SBI has 4 education loan products catering to the wide variety of needs of the students:

SBI Education Loan

This is an education loan offering for Courses at select leading Institutions in India like IITs, IIMs, NITs, AIIMS and other premier Institutions. Loan amount that would be sanctioned is upto Rs. 30 lakhs.

Global Ed-Vantage

Global Ed-Vantage Education loan caters exclusively for full-time regular courses at foreign Colleges/Universities. Loan amount would be sanctioned from Rs 20 lakhs up to Rs 1.5 Crores.

Student Loan

This is an Education loan offering for pursuing higher education in India or abroad. Loan amount up to Rs. 10 lakhs would be sanctioned for studies in India and Rs. 20 lakhs for studies abroad.

Skill Loan

This is a term loan for Indian nationals for pursuing vocational education and training in Indian Institutes where admission has been secured.