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SBI Global Ed-Vantage: New Overseas Education Loan for Indians

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SBI Global Ed-Vantage: New Overseas Education Loan for Indians [#permalink]

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New post 22 Mar 2017, 00:02
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Just came to know that SBI has launched new education loan option for Indians studying abroad - SBI Global Ed-Vantage. Its interest rate is higher than that of leading international load providers such as ProdigyFinance and the loan requires collateral but can be a good option for those who can't qualify for international loans. http://www.indiainfoline.com/article/ne ... 394_1.html

  • Eligible Courses: Full time graduate/post graduate/doctorate courses offered at top foreign colleges/ universities
  • Countries: USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
  • Loan amount: 20 Lakh - 1.5 Cr INR
  • Margin: Financing up to 80% of cost of course. Not sure whether course cost covers just tuition or other expenses.
  • Interest rate: Base Rate + 1.70% = 11% p.a. (0.5% concession for female students)
  • Repayment period: Upto 15 years post completion of the course.
  • Collateral: Fully collateralized loan; Security equivalent to the loan amount has to be pledged to the Bank.
  • Moratorium: Student will be provided upto 6 months post completion of the course to begin re-paying the loan via EMIs. Simple Interest will be charged during Course Period + Moratorium Period.

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Re: SBI Global Ed-Vantage: New Overseas Education Loan for Indians [#permalink]

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New post 27 Mar 2017, 14:08
Narenn wrote:
Just came to know that SBI has launched new education loan option for Indians studying abroad - SBI Global Ed-Vantage. Its interest rate is higher than that of leading international load providers such as ProdigyFinance and the loan requires collateral but can be a good option for those who can't qualify for international loans. http://www.indiainfoline.com/article/ne ... 394_1.html

  • Eligible Courses: Full time graduate/post graduate/doctorate courses offered at top foreign colleges/ universities
  • Countries: USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
  • Loan amount: 20 Lakh - 1.5 Cr INR
  • Margin: Financing up to 80% of cost of course. Not sure whether course cost covers just tuition or other expenses.
  • Interest rate: Base Rate + 1.70% = 11% p.a. (0.5% concession for female students)
  • Repayment period: Upto 15 years post completion of the course.
  • Collateral: Fully collateralized loan; Security equivalent to the loan amount has to be pledged to the Bank.
  • Moratorium: Student will be provided upto 6 months post completion of the course to begin re-paying the loan via EMIs. Simple Interest will be charged during Course Period + Moratorium Period.


thanks
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Re: SBI Global Ed-Vantage: New Overseas Education Loan for Indians [#permalink]

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New post 06 Apr 2018, 15:57
Narenn wrote:
Just came to know that SBI has launched new education loan option for Indians studying abroad - SBI Global Ed-Vantage. Its interest rate is higher than that of leading international load providers such as ProdigyFinance and the loan requires collateral but can be a good option for those who can't qualify for international loans. http://www.indiainfoline.com/article/ne ... 394_1.html

  • Eligible Courses: Full time graduate/post graduate/doctorate courses offered at top foreign colleges/ universities
  • Countries: USA, UK, Canada, Australia, Europe, Singapore, Japan and Hong Kong.
  • Loan amount: 20 Lakh - 1.5 Cr INR
  • Margin: Financing up to 80% of cost of course. Not sure whether course cost covers just tuition or other expenses.
  • Interest rate: Base Rate + 1.70% = 11% p.a. (0.5% concession for female students)
  • Repayment period: Upto 15 years post completion of the course.
  • Collateral: Fully collateralized loan; Security equivalent to the loan amount has to be pledged to the Bank.
  • Moratorium: Student will be provided upto 6 months post completion of the course to begin re-paying the loan via EMIs. Simple Interest will be charged during Course Period + Moratorium Period.


This loans covers living expenses unlike Prodigy Finance, which may cover living expenses in specific cases

Regards,
HK
Re: SBI Global Ed-Vantage: New Overseas Education Loan for Indians   [#permalink] 06 Apr 2018, 15:57
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SBI Global Ed-Vantage: New Overseas Education Loan for Indians

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