The State Bank of India (SBI) has been one of the leading global banks of our country, recognized perhaps by every citizen. It is the largest bank in the country and has continuously strived for the welfare of our society. In this endeavor, they have a scheme for foreign education aspirants who are struggling to accommodate the expenses to study elsewhere.
The “SBI Global Ed-Vantage” scheme, which is specifically for the students who have cleared their admission in a reputed college outside India and are struggling financially. The scheme offers higher loan amounts with a longer repayment period, which comes in as a great respite for many students.
The aspirants can apply online to avail this opportunity. They will also be getting a tax benefit under section 80(E). The loan amount would include the college fee, accommodation expenses and also the travelling charges. The minimum loan amount to avail this scheme is ₹20 Lakh and it can go up to ₹1.5 cr.
The loans will be granted to students who have cleared all the necessary admission processes in Regular Graduate/ Post Graduate/ Doctorate Courses in any discipline offered by foreign Institutes/ Universities in USA, UK, Canada, Australia, Europe, Singapore, Japan, Hong Kong, and New Zealand. The documentation process requires tangible collateral to be attested as security and the bank also accepts collateral security offered by a third-party guarantor apart from the parents. It also requires the income proof of the guarantor, just the way it happens when students apply for cheaper loans.
Whilst a lot of banks have offered a variety of schemes to promote Indian students to go abroad and pursue quality education, the Global Ed-Vantage offers very clear and supportive benefits. Some of the dreams which might have seemed too far-fetched are now a lot close to the students, thanks to gap bridged by this wonderful initiative.
The time has come to break the deadlocks on your wings and fly as high as you can. Financial concerns have sabotaged a lot of dreams in this country but with one of India’s most trusted and recognized banks offering such incredible assistance, it will be almost impossible for the students to not consider this option. Check out more about this scheme here: SBI Global Ed-Vantage