Education loan in India for study abroad is provided to the citizens of India through various public and private banks, along with RBI accredited NBFCs. State bank of India education loan to study abroad under its scheme calledGlobal Ed-Vantage. It is the education loan in India for Study Abroad exclusively for those who wish to pursue full time regular courses at foreign colleges/universities. The SBI Overseas education loan isavailable for students and professionals who wish to pursue Post-Graduation, Graduation and Diploma courses.
Lets look at the Features of SBI Overseas Education Loan : · Competitive Interest Rate and Low processing Fees - State Bank of India offers very competitive interest rate for education loan to study abroad. The rate is 2% + 3 years MCLR with a discount of 0.5% for Girl Child and 0.5% for Rin Raksha policy. The processing fees for any amount of loan is INR 10,000 + GST. · Higher Loan amount - State bank of India offers the highest loan amount for Education loan of Upto Rs. 1.50 Crores for studies abroad. The same is more than sufficient to cover any cost of education. · Moratorium Period - SBI overseas education loan offers a complete moratorium during study. They do not expect the student to pay any interest during the study period and the same gets added to the principle. Once the student graduates he starts paying his education loan to study abroad in 6 Months to 1 Year. The total tenure of the loan is 15 years but he can choose to repay the loan earlier with no prepayment facility. · SBI Loan Approval : SBI overseas education loan can be availed prior to i20/Visa. As soon as the University is finalised we can look to start the loan process for study abroad loan from SBI. · Tax Benefit: We can look to get TAX benefit under section 80(E)in case looking as SBI education loan in India for Study Abroad · Loan Coverage : SBI overseas education loan not only covers all the Fee payable to college/school/hostel but also Examination/Library/Laboratory fee, Travel expenses/passage money for studies abroad, Purchase of books/equipment’s/instruments/uniforms/ computer at reasonable cost, if required for course completion and any other expense required to complete the course– like study tours, project work, thesis, etc. can be considered for loan subject to the condition that these should be capped at 20% of the total tuition fees payable for completion of the course. Choose EduLoans for education loan in India for study abroadGetting an overseas education loan at competitive rates of interest can be a daunting task, especially if you have no idea as to how to go about this. There are two ways of getting things done, in such a scenario-
In the times of world health crisis like today, where pandemic has reeled the world and employment, a range of professionals are also upping their skills through professional and technical courses from overseas universities and institutions. EduLoans comes at your disposal in these times too. Our digital or semi digital process for education loans ensure that you do not step out of your home in the times of crisis, and leave your loan application to our experts.
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