look news india
State Bank of India charges an interest rate of 11.15 percent on education loan. Under the SBI Scholar Loan Scheme, the bank gives loans to IITs and other institutions at the rate of 8.05 percent to 9.65 percent. Students availing education loan under SBI Global Ed-Vantage can avail up to Rs. 7.5 lakh to Rs. Interest rate of 10.15 percent will have to be paid on Rs 50 lakh. Apart from this, students will also have to pay a processing fee of Rs 10,000.
If your child is also planning to study abroad, then State Bank of India, the largest public sector bank, is giving you an education loan of up to Rs 50 lakh without any guarantee. Apart from this, you can also take a loan up to Rs 3 crore from this bank. SBI provides study loans to students pursuing courses in foreign institutions through Global Ed-Vantage.
Actually, most of the students want to make a great career by studying abroad, but the biggest challenge faced by students and parents to study abroad is money. In such a situation, many students are deprived of studying abroad.
India’s largest bank State Bank of India is giving you education loan without guarantee, with this offer of the bank you can easily study abroad. This also gives relief to parents from financial problems and they remain rest assured about the fees of their children.
You can get a loan up to Rs 3 crore
SBI is providing loans to students without guarantee. These loans help students to meet their entire education expenses. This includes tuition fees, books, computers, hostel fees and other study related expenses. It is important for you to know a few things about unsecured study loans. If you are also wondering how to get SBI education loan and what is its process, then let us know how you can take a loan up to Rs 50 lakh from banks without any guarantee.
Loan without guarantee: Rs.10,000 without any guarantee from institutions selected by State Bank of India. Provides study loan up to Rs 50 lakh. Repayment period: Banks also give you more time to repay the education loan. You can repay the loan through EMI for 15 years. Loan amount: Under this you can take a loan ranging from Rs 50 lakh to Rs 3 crore. Disbursement Period: Loan will be approved before receipt of Form I-20 or Visa.
Tax Exemption: Students get exemption on study loans under Section 80(E) of the Income Tax Act, which provides deduction on interest paid on education loans obtained for higher education.
Students studying in these countries will get loan: USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand and European countries like Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece. Banks in Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland and the United Kingdom are reputable. Provides loans to students studying in universities or institutions.
How to apply for study loan in bank
To take a loan for studying abroad, you will have to decide on a budget. Which university of which country do you want to study in? After collecting the required documents for education loan, you can apply to banks or non-banking financial companies. Students can apply for education loan in two ways. First of all, you can apply for the loan by visiting the official website of the bank or you can also apply for the loan by visiting the nearest branch. Once the documents are verified, the bank will approve and disburse the loan to you.
These important documents will have to be given in the bank
• Identity Certificate
• Address proof
• Academic Documents
• Income certificate
• Bank details
• picture
• PAN card
• Visa Documentation
• Standardized test scores
• English proficiency test scores
• Statement of Objectives (SOP)
• Resume/CV
