Admission News

April 05, 2018

April 05, 2018 @ 06:03 PM


State Bank of India launches SBI Global Ed-Vantage

Published: Thursday, 17 March, 2016 04:00 PM

State Bank of India launches SBI Global Ed-Vantage – Overseas Education Loan

State Bank of India launches “SBI Global Ed-Vantage” an overseas education loan. The bank has long been a leader in fulfilling the aspirations of students who wish to pursue higher education in India and abroad. Being the largest Bank in the country, it is the first point of enquiry for students who get admissions to various courses and are in need of finance.

The Bank has constantly been adapting its offerings to student groups keeping in mind their specific requirements. SBI Scholar Loan scheme has been specifically tailored for those who get admission to a select list of 100+ Top institutions in India covering Management, Engineering, Medicine, Law etc. Key features include a collateral free loan at a low interest rate.

Recent years have seen a steady increase in enquiries for financing studies at foreign Universities. Students seeking global exposure are trying for prestigious Universities like Stanford, Harvard, MIT and INSEAD etc. But the cost of education being on the higher side, they often find it difficult to pursue their studies for want of adequate finance.

SBI Global Ed-Vantage is a new offering that aims to assist those who wish to avail a higher education at the top institutions across the globe. The salient features are as below:

  • Purpose: For pursuing full time regular courses in foreign colleges/ universities
  • Courses Covered: Regular full time Graduate/Post Graduate/Doctorate Courses in Science, Technology, Engineering, Mathematics, Medicine and Management in institutions/ universities of USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
  • Loan amount: Upwards of Rs. 20 Lakh and going up to Rs. 1.5 Cr
  • Margin: 20% i.e. up to 80% of cost of course is eligible for financing.
  • Rate of Interest: Base Rate + 1.70% = 11% p.a., as on 01.03.2016.
    • 0.50% concession for students availing of SBI Life Rinn Raksha (Life Insurance Scheme). Students already having a Life Insurance can avail of the concession only if the policy is assigned in favour of the Bank.
    • 0.50% concession for girl students
  • Repayment period: Student gets upto 15 years post completion of the course to repay the loan.
  • Disbursement: Fees shall be remitted directly to the institution. Student’s living will be credited into the SBI Foreign Travel Card.
  • Collateral: This is a fully collateralized loan where security equivalent to the quantum of loan financed has to be pledged to the Bank.
  • Moratorium: Student will be provided upto 6 months post completion of the course to begin re-paying the loan via EMIs. Simple Interest will be charged during Course Period + Moratorium Period

To avail of the SBI Global Ed-Vantage – overseas education loan, visit the designated branch nearest to you. List of branches and the contact details have been provided on the Bank’s website. So go ahead, Challenge the World!

Stay informed, Stay ahead and stay inspired with MBA Rendezvous

Crucial Dates, You Should not Miss

IMI New Delhi
Admissions open for PGDM / PGDM(HRM) / PGDM(B&FS) at IMI New Delhi. Last date to apply is Dec 3rd, 2018.
Birla Institute of Management Technology (BIMTECH)
BIMTECH Admissions Open for 2019.
XIMB, XUB Admissions Open for 2019 at Xavier Institute of Management. Last date to apply December 7th, 2018.
MDI Gurgaon
Admissions Open for PGPM | PGPM-HRM | PGP-IM 2019 at MDI Gurgaon. Last date to apply November 23th, 2018
Admissions open for PGDM-C 2019-2021.
Goa Institute of Management
Admissions open for 2019-2021 at GIM. Last date to apply is November 30th, 2018
Admissions open for PGDM 2019-2021 at SDMIMD.
IMT Ghaziabad
Admissions open for 2 Year PGDM and MBA programs at IMT Ghaziabad- Application Deadline is November 22nd, 2018
ICFAI Business School
ICFAI Business School Accepting Applications for IBSAT 2018
Lal Bahadur Shastri Institute of Management (LBSIM)
Admissions open for 2019 at LBSIM, New Delhi. Last date for applying Dec 15th, 2018
Experience@TAPMI Admissions Open for 2019
MDI Murshidabad
Admissions Open for PGP 2019-21 at MDI Murshidabad
SIBM, Bengaluru
Admissions Open for MBA 2019-21 at SIBM, Bengaluru
XAT 2019 Registration, Application Ends on November 30th, 2018. Exam Date January 6th, 2019