SBI Education Loan

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. Whether you're exploring an education loan in the State Bank of India or seeking a student loan from SBI, it's crucial to understand the array of options available to support your academic aspirations.

Types of Education Loan in State Bank of India

The State Bank of India education loan is categorized into several schemes that cater to the varied needs of students. State Bank of India education loan schemes are as follows -

• SBI Student Loan Scheme
• SBI Scholar Loan Scheme 
• SBI Skill Loan Scheme 
• SBI Global Ed- Vantage
• SBI Takeover of Education Loan Scheme 
• SBI Shaurya Education Loan

For students who are looking for an abroad education loan SBI offers the SBI Global Ed- Vantage scheme wherein students can avail up to INR 3 cr of financing for their education in India or abroad.

The most attractive feature of the SBI education loan without collateral for abroad is that it does not require any security or collateral for loans up to INR 50 Lakhs. This is a significant advantage for students who do not have valuable assets to pledge. The SBI unsecured education loan ensures that the lack of collateral does not become a barrier to achieving your academic dreams.

Earlier SBI education loan without collateral was limited to INR 7.5 Lakh, but in 2024 SBI started collateral-free education loans for up to INR 50 Lakhs. For education loans amounting to more than INR 50 Lakhs, a collateral is must. However, when applicants opt for an SBI non-collateral education loan for abroad, the parents or guardian must co-sign the loan with the student.

As SBI provides education loans without a co-applicant, a financial co-applicant is generally not required. Hence, students looking for an SBI education loan without a co-applicant can opt for collateral-based loans where a financial co-applicant is not required for amounts up to INR 50 Lakhs.

The SBI student loan without collateral application process is quite simple.

Step 1: Prospective students need to visit the SBI website navigate to the education loan section and click on ‘Apply now’.

Step 2: Next, fill out the SBI education loan application form.

Step 3: Upload required documents for loan including proof of admission to an eligible course and institution, alongside other necessary documents such as academic records and proof of identity.

Step 4: Submit the form and SBI will coordinate with you once they verify your application.

The SBI collateral free education loan is an excellent financial tool for students aspiring to study overseas. With an SBI education loan for abroad without security, competitive interest rates, and comprehensive coverage of educational expenses, this loan makes the dream of studying abroad achievable for many students.

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 3 Cr to fund their education abroad. To secure an SBI education loan for abroad students have to pledge collateral that holds at least 90% value of the total loan amount.

Established in 1955, the State Bank of India (SBI) is India's beacon of trust and reliability in the banking sector, offering a comprehensive SBI abroad education loan to empower students. As India's largest public sector bank, SBI extends its support to students through its specialized SBI education loan for abroad studies, enabling them to pursue their academic dreams in foreign lands.

For example: If a student wants to secure a loan amount of INR 60 Lakhs, then his collateral value should be at least INR 54 Lakh.

SBI's Global Ed-Vantage scheme is a tailored SBI student loan for study abroad, designed to support Indian students aspiring to study overseas. This abroad SBI student loan facilitates higher education across various countries, offering loans up to INR 3 Cr. It's a perfect choice for students seeking a SBI study loan for abroad, ensuring their educational journey is well-funded. The education loan SBI provides is more than just financial assistance; it's a gateway to achieving your education dreams without the burden of financial constraints.

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