2023 2024 Student Forum > Management Forum > Study Abroad

 
  #2  
26th March 2016, 12:10 PM
Super Moderator
 
Join Date: May 2012
Re: SBI Education Loan Interest Rate for Abroad

SBI GLOBAL ED-VANTAGE SCHEME is the education loan scheme offered by SBI for the Indian student to pursue higher education outside India:

[B]Reason
[/B]
To stretch out budgetary help to meriting/praiseworthy understudies for seeking after full time normal courses in outside schools/colleges

[B]Qualified Courses - Studies Abroad
[/B]
Consistent full time Graduate/Post Graduate/Doctorate Courses in Science, Technology, Engineering, Mathematics, Medicine and Management in establishments/colleges of USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong

[B]Qualified Expenses [/B]

Charge payable to school/school/inn.

Examination/Library/Laboratory charge.

Travel costs/entry cash for concentrates abroad.

Buy of books/types of gear/instruments/regalia/PC at sensible expense, if required for course fruition and some other cost required to finish the course– like study visits, venture work, postulation, and so on can be considered for credit subject to the condition that these ought to be topped at 20% of the aggregate educational cost charges payable for consummation of the course.

Alert store/building reserve/refundable store upheld by Institution charges/receipts the sum considered for credit ought not surpass 10% of the educational cost expenses for the whole course.

Premium of 'RiNn Rakhsha' (IRDA License No: UIN: 111N078V01): Finance for 'RiNn Rakhsha' will enhance protection scope of the advance

[B]Quantum of Finance [/B]

Least Loan Amount: Rs. 20 Lacs

Most extreme Loan Amount: Rs. 1.5 Cr

[B]Edge [/B]

Grant/assistantship to be incorporated into edge.

Edge to be acquired on year-on-year premise as and when payment are made on a professional rata premise.

[B]Handling Fee[/B]

Rs. 10,000/ - per application.

[B]Rate of Interest [/B]

Straightforward Interest will be charged amid Course Period + Moratorium Period

[B]SBI GLOBAL ED-VANTAGE SCHEME[/B]
1.70% above Base Rate, currently 11% p.a.
• 0.50% concession for students availing of SBI Rinn Raksha.
o Value of policy should be equivalent to the loan amount.
o In case the student is already having a Life Insurance policy for an amount equivalent to the loan amount, this concession will be extended only if the policy is assigned in favour of the Bank
• 0.50% concession for girl students
• A tenor premium of 1% will be charged in cases where repayment period (after the course completion) opted is for more than 10 years
(effective rate of interest after all concessions not to be lower than 0.70% above Base Rate presently, 10% p.a.)

Security
[B]
Unmistakable guarantee security [/B]

Guarantee security offered by Third Party (other than folks) can likewise be acknowledged

Reimbursement And Repayment Holiday (Moratorium)

Accumulated enthusiasm amid the ban to be added to the chief and reimbursement in EMI settled.

Reimbursement will initiate 6 months after finishing obviously

Reimbursement upto greatest of 15 years

In any case, a tenor premium of 1% will be charged in the event of reimbursement time of over 10 years

[B]Documents Required [/B]

Letter of affirmation

[B]Totally filled in Loan Application Form [/B]

[B]2 travel permit size photos [/B]

Skillet Card of the understudy and Parent/Guardian

AADHAR Card of the understudy and parent/Guardian

Verification of personality (driving permit/international ID/any photograph character)

Evidence of home (driving permit/international ID/power charge/Telephone bill)

[B]Proclamation of expense of study [/B]

Understudy/Co-borrower/underwriter's financial balance explanation for most recent 6 months

IT return/IT evaluation request, of most recent 2 years of Parent/Guardian/other co-borrower

Brief proclamation of benefits and liabilities of Parent/Guardian/other co-borrower

Verification of pay (i.e. pay slips/Form 16) Parent/Guardian/other co-borrower


[IMG]https://management.ind.in/img/p/SBI-Education-Loan-Interest-Rate-for-Abroad-1.jpg[/IMG]
[IMG]https://management.ind.in/img/p/SBI-Education-Loan-Interest-Rate-for-Abroad-2.jpg[/IMG]
[IMG]https://management.ind.in/img/p/SBI-Education-Loan-Interest-Rate-for-Abroad-3.jpg[/IMG]
[IMG]https://management.ind.in/img/p/SBI-Education-Loan-Interest-Rate-for-Abroad-4.jpg[/IMG]


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