Loan for MBA in usa

[pooja]

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Can you provide me the details of the SBI Global Ed-Vantage Loan Scheme offered for pursuing MBA (Master in Business Administration) Program in USA (United States of America)?

[pooja]

SBI Global Ed-Vantage Loan Scheme offered by SBI (State Bank of India) is an overseas education loan exclusively for those who wish to pursue full time regular courses at foreign colleges/universities. Its key features include:

Faster: Online application process
Lighter: Attractive interest rate
Higher: Loan amount of Rs. 20 lakhs to Rs. 1.5 Cr
Easier: Repayment through EMI upto 15 years
Early Approval: loan sanction prior to i20/Visa
Tax Benefit: under section 80(E)

Eligible Courses - Studies Abroad
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

Eligible Expenses

Fee payable to college/school/hostel
Examination/Library/Laboratory fee
Travel expenses/passage money for studies abroad.
Purchase of books/equipment/instruments/uniforms/ computer at reasonable cost, if required for course completion and any other expense required to complete the course like study tours, project work, thesis, etc. can be considered for loan subject to the condition that these should be capped at 20% of the total tuition fees payable for completion of the course.
Caution deposit /building fund/refundable deposit supported by Institution bills/receipts the amount considered for loan should not exceed 10% of the tuition fees for the entire course.
Premium of RiNn Rakhsha (IRDA License No: UIN: 111N078V01): Finance for RiNn Rakhsha will improve insurance-coverage of the loan

Quantum of Finance
Minimum Loan Amount: Rs. 20 Lacs
Maximum Loan Amount: Rs. 1.5 Cr

Margin
Scholarship/assistantship to be included in margin
Margin to be brought in on year-on-year basis as and when disbursements are made on a pro-rata basis

Processing Fee:
Rs. 10,000/- per application

Repayment and Repayment Holiday (Moratorium)
Accrued interest during the moratorium to be added to the principal and repayment in EMI fixed.
Repayment will commence 6 months after completion of course
Repayment up to maximum of 15 years


SBI Global Ed-Vantage Scheme