SBI Education Loan for Abroad

Bank

Upto 14 days Loan Processing Time

Margin

15-20%

Processing Fees

NIL

Collateral

Upto ₹1.5 crore

Non-Collateral

Upto ₹75 lakhs

Repayment Tenure

Upto 15 years

Cosigner Needed

Yes

Interest Rate

Starting from 10.15%*

Countries covered

USA, UK, Australia, Canada, and many more

Features of State Bank of India
Education Loan Abroad

State Bank of India aims to provide financial access to deserving students willing to pursue higher education abroad. They help students enrol in the best institutes all over the globe without worrying about their financial conditions.

Features	Education Loan Details
Loan amount	Upto ₹1.5 crore (Collateral) Upto ₹75 lakhs (Non-Collateral)
Margin money	15-20%
Interest rate	Starting from 10.15%*
Processing fees	NIL
Processing time	14 days
Loan tenure	Upto 15 years
Prepayment charges	NIL
Countries covered	SBI provides overseas education loans in numerous countries including USA, UK, Australia, Canada, Germany, Ireland, New Zealand , and many more.
Moratorium	Study period + 6 Months

Benefits of State Bank of India Education Loan

Quick Process
SBI offers a hassle-free online process to fill in the application for securing a study abroad loan, making it faster and easier.
Offer for females
State Bank of India supports female students to study abroad by providing a discount of 0.5% to motivate even more Indian females to pursue their higher education.
Higher Loan Amount
You can secure a study abroad loan from State Bank of India amounting upto ₹1.5 crore without worrying about any expenses left uncovered.
Flexible Repayment
The repayment plan of your study abroad loan starts after 6 months of graduation. The highest tenure offered by SBI is 15 years.

How To Apply For State Bank of India’s

Education Loan For Abroad Studies?

You can apply for State Bank of India’s Education Loan by connecting with our team of experts. Just fill out the form on our website, and we will schedule a callback and guide you through the process.
From helping you upload documents online to presenting them to the banks, Lorien Finance will help you throughout the application process.
Once all your documents are uploaded & KYC process is complete, you can expect your loan to get sanctioned within a few working days.

Why choose Lorien Finance to get an Education Loan from SBI?

Best loans at unbeatable interest rates: Lorien Finance strives to bring you the best possible deals for your study abroad loans. Our experts negotiate on your behalf to get education loans at the lowest possible interest rates.
Effortless Process: All you need to do is fill out the form on Lorien Finance’s website. Yes, it’s that simple! Our team will take it up from there, making it a hassle-free process for you.
100% Free Assistance: Lorien doesn’t charge any processing fee or commission for student loans for your study abroad journey!
Quicker Loans: With constant application tracking and status updates, our experts ensure that your education loan for studying abroad gets sanctioned as early as possible.
Higher chances of approval: In case of any missing documents or other issues, Lorien’s team promptly reaches out to the bank to find solutions to increase your chances of getting a study loan for your overseas education.

Helping you fulfil your study abroad dream!

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Eligibility Criteria For SBI Education Loan Abroad

Eligibility Criteria for Student
1. Must be an Indian citizen
2. Must be at least 18 years of age
3. Must have good academic record
4. Must have cleared the prerequisite tests such as GRE, IELTS or TOEFL
Eligibility Criteria for Co-applicant
1. Must have a regular source of income
2. Must be parent or legal guardian
3. Must have good credit history
Collateral
1. Fixed deposits
2. Residential buildings & properties

Documents Required

For Applicant:
1. Identity proof (PAN Card or Employee Identity card)
2. Education loan application form.
3. Proof of address (Electricity bill, Telephone bill, or Ration card)
4. Passport
5. Letter of acceptance from University
6. Schedule of expenses including fee structure and living expenses
7. Mark sheets for 10th, 12th grade and semester wise undergraduate result
8. Entrance exam scores (CAT, CET, GRE, GMAT, IELTS, TOEFL)
9. If applicable, loan account statement for last 12 months
10. If applicable, bank statement of the student
11. 2 passport size photographs
For Co-applicants:
1. Identity proof (PAN Card or Employee Identity card)
2. Proof of address (Electricity bill, Telephone bill, or Ration card)
3. 2 passport size photographs
4. Bank statement for last 6 months
5. If applicable, statement of loan account for last 12 months
6. Collateral Documents (if required)
7. Income proof (For Salaried)
8. Copy of Form 16 of last 2 years
9. 6 months bank account statement of Salary account
10. 3 months’ salary slips
11. Summary of the assets and liabilities
12. Income proof (For self-employed)
13. Proof of Business Address
14. IT returns of last 2 years
15. 6 months bank account statement
16. TDS Certificate
17. If applicable, certificate of qualification

FAQs

Bringing answers to your questions

What is the interest rate on education loans for studying abroad?
SBI offers education loans with low interest rates. The exact interest rate may vary, and we recommend connecting with our experts for the most up-to-date information.
What is the process for applying for an SBI education loan for studying abroad?
You can apply for an SBI education loan for studying abroad by connecting with Lorien Finance. Just fill out the form on our website, and our experts will schedule a callback to guide you through the application process, help you upload necessary documents online, and present the application to SBI. Once all documents are uploaded and the KYC process is complete, the loan is expected to be sanctioned within a few working days.
Does SBI offer special benefits or interest rate reductions for exceptional academic performance?
SBI's education loans are known for their low interest rates, providing financial support for students aspiring to study abroad. While SBI may not explicitly mention benefits for exceptional academic performance, Lorien, your trusted education loan partner, works diligently to ensure you access the most favourable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalised support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
SBI requires a co-applicant to secure an education loan, and it is typically the student's parents or a guardian or relative or sibling.
What collateral or security is required for the loan?
Collateral requirements may vary based on individual circumstances and the loan amount. Lorien Finance, your dedicated education loan partner, can facilitate this communication, ensuring you receive accurate and personalised information tailored to your specific needs. Contact us to navigate the intricacies of collateral or security for your SBI education loan, making your application process smoother and more transparent.

Lorien’s Success Stories

Real Dreams: Real Achievements

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

Finding suitable accommodation in a foreign country can be challenging, but Lorien Finance made it a breeze. Their partnership with reliable housing p...

Sriram

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...

Rama

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...