State Bank of India Education Loan (Abroad)
An education loan for studies abroad is a credit facility that funds a student's overseas higher education, typically covering tuition and other course-related costs, with repayment usually beginning after the course and a moratorium period. It suits students pursuing full-time regular graduate, post-graduate or doctorate programmes at recognised foreign institutions who need to meet the cost of studying overseas.
State Bank of India, a public-sector bank founded in 1955 and headquartered in Mumbai, offers this finance under its Global Ed-Vantage scheme, an overseas education loan meant exclusively for those who wish to pursue full-time regular courses at foreign colleges and universities. State Bank of India's version emphasises collateral-free lending for a defined list of select institutions, the possibility of sanction and disbursement before the visa is received, and eligibility for tax deduction on interest under the relevant income-tax provision.
The loan is generally secured, with acceptable security ranging from immovable property to specified financial instruments and third-party deposits, and repayment is structured over instalments beginning after the course period. Approval, loan amount and the terms offered are assessed case by case against the bank's eligibility and security norms, and sanction is not guaranteed.
At 8.9%, State Bank of India has one of the lowest starting rates of the 5 lenders we track for education loans (abroad).
Documents required
- Academic: 10th and 12th standard mark sheets, and graduation credentials where applicable
- Academic: Entrance examination results, and the admission or offer letter from the institution
- Academic: Statement of course expenses and any scholarship or financial-aid documentation
- Identity/Address: Government-issued identity proof and residential address proof
- Identity/Address: Passport (mandatory for overseas study applicants)
- Financial: Six months' bank statements across all accounts
- Financial: Employment/income proof of co-applicant such as salary slips or salary certificate, and tax filing records
- Security: Property ownership records and title documents, and bank deposit certificates or investment statements
As published by State Bank of India. Your branch may ask for more.
Eligibility
Loan terms
- Exclusively for full-time regular graduate, post-graduate or doctorate courses at foreign colleges and universities
- Collateral-free lending available for a defined list of select institutions
- Loan can be sanctioned and disbursed before the visa is received, with the visa submitted before a later disbursement
- Interest eligible for tax deduction under the relevant income-tax provision
- Repayment structured over instalments commencing after the course period plus moratorium
Fees & charges
Tax: interest is deductible under Section 80E (no cap, up to 8 years). Foreign lenders (labelled below) are not RBI-regulated — read their terms carefully.
FAQ
They lend without Indian collateral and are useful for some students, but they are NOT RBI-regulated — shown here with a distinct badge. Compare their all-in USD cost against an RBI-registered Indian lender before deciding.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
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