SBI Education Loan for Abroad Studies- Must know basics

SBI Education Loan for Abroad Studies- Must know basics

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Event Description

We are here with the 5th episode of Loanflix, titled “Loanflix- SBI education loan for abroad studies”. This episode will help in clarifying all details regarding the SBI education loan schemes for abroad studies. The speaker of this episode is Damini Mahajan, CoFounder & CEO, WeMakeScholars.

With this episode, our main aim is to give our viewers a clear idea about SBI education loan schemes for abroad studies. Our experts will be speaking on the following points. You will find the episode at the end of this article.

 

What are the current SBI education abroad education loan schemes ?

The SBI offers two loan schemes for abroad education. They are:

  • SBI Global Ed-Vantage loan.

  • SBI Student Loan scheme.

 

Which scheme is recommended for candidates who wish to pursue their higher education abroad?

Out of the two schemes mentioned above, The SBI Global Ed-Vantage loan is the recommended scheme for abroad education.

 

What is the processing fee charged for SBI abroad education loan schemes?

The processing fee varies for different candidates, depending on the collateral pledged by them.

The basic amount charged by the SBI for abroad education loans is Rs. 10,000. To know the details, please refer to the video given below.

 

What is the Moratorium period for the abroad education loan schemes?

The moratorium period for any SBI education loan scheme for abroad studies is generally six months to a year after the course. The candidate may avail for a maximum extension period of up to 15 years after the course is completed.

 

What are the interest rates?

The Rate of Interest for male candidates is 10.7% and for female candidates, it is 10.3%. For those who have also opted for the Rinn Raksha Loan scheme, there is a waiver of 0.5%. After waiver, the final rate of interest comes to 9.8% for female and 10.3% for male students

 

Apart from these, this episode also throws light on the following factors related to SBI abroad education loans:

 

  1. Accepted collateral for both loan schemes

  2. Coverage of expenses for both loan schemes

  3. Acceptable Co-applicants for abroad education loan scheme.

  4. Process and procedure for applying

 

We hope that this episode of Loanflix will help you understand the SBI education loan schemes for abroad studies, better. The 6th episode, ‘SBI Education Loan- Documents, Process & Timeline’, explains every detail of the SBI abroad education loan procedure, like the required documents, every step involved in the process, etc.

 

To get a better picture of the SBI abroad education loan schemes, do watch the episode below. Also, don't miss the episodes of the web-series- Loanflix. We come up with an interesting topic for every episode and try to help you understand it better. So stay tuned and keep checking this part of our website for details on our upcoming episodes. Also, if you found this episode useful, do like the video and subscribe to our YouTube channel to avoid missing any updates. 

 

Date And Time

Timezone : (GMT+05:30) Chennai

Location

India

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Speakers

Damini Mahajan

Damini Mahajan
CoFounder & CEO, WeMakeScholars 

Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.

Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India. 

She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech. 

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