SBI Global Ed-Vantage

State Bank of India (SBI) has been the most trusted lender for Indians for the longest time. The trust of Indians has increased with the passage of time, and SBI has never failed to bring one of the most affordable for borrowers with different needs. This is something that has kept SBI at the forefront of the lending ecosystem and catered immense respect from borrowers. Just like all other types of loans, SBI has the best loan for abroad education, and its Global Ed-Vantage scheme is truly a game-changer. With the lowest interest rate and most reasonable repayment terms, Global Ed-Vantage has become the favorite for all the borrowers taking a secured loan. When compared with Private Banks, NBFCs, and International lenders, SBI stands out in every respect. In this blog, you will get to know about SBI Global Ed-Vantage- A Loan Loaded With Advantage.

The SBI Global Ed-Vantage scheme focuses on the high valued loan amounts for abroad education. The maximum loan amount under this scheme is INR 1.5 crore, and that includes coverage of almost all the expenses. So, students wanting to study abroad have an excellent opportunity to chase their dreams with the SBI Global Ed-Vantage scheme. Let’s see all the details about the loan.

Global Ed-Vantage: What’s the advantage?

The government of India, through SBI, launched the Global Ed-Vantage scheme to broaden the ambit of credit for abroad education. The launch of this scheme aimed to bring more students under the purview of the loan so that they don’t have to pay hefty interest rates and accept harsh terms of repayment. The move of launching this scheme has brought a substantial change since the time of its inception and has changed the lives of several students who wish to take loans for education abroad. 

The following features of SBI Global Ed-Vantage make it the best loan scheme for abroad education:

Rate of Interest: With the lowest interest rate, Global Ed-Vantage has genuinely transformed the credit culture. SBI has kept the most competitive interest rates, 8.15% for men and 7.65% for women. There are SBI education loan EMI calculators provided by fintech companies wherein the EMI can be calculated. 

Loan Amount: The minimum loan amount under this scheme is INR 20 lakh, and the maximum loan amount is INR 1.5crore. 

Loan Type: SBI offers the Global Ed-Vantage loans under the secured loan category. One needs to pledge an asset, and its valuation will finalize the loan amount. For assets like real estate, the loan amount is usually 70% of the asset’s value. For assets with relatively more liquidity (liquidity is the ability of an asset to convert into cash), e.g., Fixed Deposits, Gold, etc., the loan amount is sanctioned for 90% of the asset’s value.

Loan Margin: SBI Global Ed-Vantage loan provides a loan margin up to 90%, and 10% is the margin. Margin is the loan amount that the applicant has to arrange, and it includes the scholarship. 

Moratorium Period: The moratorium period is for six months, and it is as per the guidelines laid out by the RBI for easing the repayment of loans by fresh graduates. 

Interest Subvention: Women can claim an additional 0.5% waiver on the interest rate and a further reduction of 0.5% if an applicant also takes the Rinn Raksha Insurance scheme. The interest reduction under the insurance scheme is available for both men and women to loan applicants. 

Expense Coverage With The SBI Global Ed-Vantage

SBI Global Ed-Vantage scheme has one of the broadest coverage and includes almost all the expenses. The loan coverage is structured by giving due consideration to all the needs of a student going abroad. Living in a foreign country has several expenses that might not come into the picture while residing in India, so one must ensure that all the necessary costs are covered. SBI under this scheme also allows borrowers to include or exclude certain expenses. However, inclusion or exclusion of expenses other than already given by the bank is the sole prerogative of SBI. For instance, one may choose to include health insurance costs as part of the loan since many countries make it compulsory for students to take health insurance. 

The broad range of expenses covered under the loan:

  • The tuition fee is the first and foremost thing that is certainly covered in all the loans. 
  • Travel expenses are not included on their own, but they can be included on the request from the borrower. 
  • Library fees and Examination fees are also included in the list of expenses. 
  • The loan covers expenses related to studies, such as books, laptops, tablets, study-related travel, etc., which are covered under the loan. But it is subjected to a cap of 20% of the total loan amount. 

Global Ed-Vantage and RiNn Rakhsha: An insurance on credit

Taking an abroad education loan is a big step for any family, and the repayment involves a considerable amount. In case of failure, the seizure and sale of the pledged assets can be made to get the money back, but this can have a grave impact on a family. There can be situations wherein, due to any fatality, it becomes impossible for the borrower to return the money, e.g., in the event of demise. SBI ‘RiNn Rakhsha’ comes to the rescue in these cases, and when clubbed with the Global Ed-Vantage scheme, it can be a significant relief in an unforeseen situation.

RiNn Rakhsha insurance scheme pays all the outstanding amounts in case of the borrower’s demise or any grave inability. The applicant needs to pay a one-time fee to activate the insurance coverage and get the cover from any financial liability in case of the borrower’s demise. 

The icing on the cake with SBI Global Ed-Vantage

Out of all the advantages that come with this loan, one of the most outstanding features of the loan is that it has one of the broadest coverage of courses and degrees for which it lends. Regular Graduate Degree/Post-Graduate Degree/Diploma/Certificate/Doctorate Courses are covered in the scheme and make it one of the most comprehensive loan schemes. Also, when it comes to choosing the discipline, it allows students from any discipline to take up courses in foreign universities. 

Another noteworthy aspect of Global Ed-Vantage is that it also allows borrowers to use third-party assets as collateral. Third-party assets can be of a friend or from a close family member who can act as a cosigner or co-applicant to the loan. This helps those students who don’t have high-value assets to pledge and take loans for studying abroad. The government has broadened the scope by including third-party assets, and now the number of applicants has increased. 


SBI Global Ed-Vantage scheme has been a game-changer in several aspects, and it is continuously improving the scheme to incorporate more features to make the lending more accessible to a larger section of the borrower. The only drawback of this loan is that it is solely restricted to secured loans. Only those with high-value collateral or with a third-party asset can take advantage of this loan.

This leaves a big chunk of students who might have the merit to study at foreign universities but get excluded on account of failing to pledge an asset. The government is expected to come up with certain amendments to the schemes so that meritorious students can be accommodated into the scheme. If it’s done, then Global Ed-Vantage will certainly become the best scheme provided by any bank not only in India, across the globe.