Join our community for exclusive tips & updates!
FundMyCampus: Education Loan Platform
State Bank of India logo
Public Sector Bank

Government-backed · Lowest rates

SBI Global Ed-Vantage & Scholar Loan

India's largest public sector bank offers the lowest education loan interest rates and the most trusted disbursement track record, especially for premier institutions like IITs, IIMs, AIIMS and top universities abroad.

7.15% to 10.15%

Interest Rate

₹1.5 Crore (Global Ed-Vantage)

Max Loan

15–25

Approval

15 years post-moratorium

Tenure

At a Glance

State Bank of India logo
Lender Type
PSU
Max Unsecured
₹50 Lakhs (for select premier universities)
Max for India
₹40 Lakhs (Scholar Loan)
Max for Abroad
₹1.5 Crore (Global Ed-Vantage)
Processing Time
15–25 working days
Processing Fee
Nil for loans up to ₹20 L. ₹10,000 + GST above
Moratorium
Course duration + 6 months (or 6 months after job)
Est. 1955 · Mumbai

Why SBI

Top reasons students choose SBI

Lowest interest rates in the market: starting 7.15% for premier institutes

0.50% rate concession for girl students on Global Ed-Vantage (study abroad)

Strongest fit for government subsidy schemes (CSIS, Padho Pardesh, PM Vidyalakshmi)

Trusted by 50+ embassies for visa application supporting documents

About SBI

The complete SBI loan guide

State Bank of India (SBI) is the country's largest public sector bank and a name nearly every Indian student trusts.

RBI-regulated lender
Section 80E tax benefit
FundMyCampus partner

Quick Facts

SBI at a glance

State Bank of India logo

Interest Rate

7.15% to 10.15%

Study abroad, with collateral: 9.65% (9.15% at SBI's select universities)

Study abroad, without collateral: 9.65% at SBI's select universities, up to ₹50 lakh

Study in India (Scholar Loan, premier institutes): 7.15% to 7.90%

Maximum Loan

₹1.5 Crore (Global Ed-Vantage)

Repayment Tenure

Up to 15 years post-moratorium

Lender Type

Public Sector Bank

Check Eligibility: Free
Established 1955 · Mumbai

Loan Amounts

How much SBI lends

₹40 Lakhs (Scholar Loan)

For India studies

₹1.5 Crore (Global Ed-Vantage)

For Abroad studies

₹50 Lakhs (for select premier universities)

Without Collateral

Free in 2 minutes

See your SBI eligibility instantly

Get bank-wise approval predictions and rate estimates for your profile.

Step 1

Eligibility Criteria

Quick 2-min check
1
Indian citizen between 16–35 years of age at the time of application
2
Confirmed admission to a recognised institution in India or abroad, government, deemed, or NRI-quota
3
Co-applicant required: parent, guardian, or spouse with stable income (minimum CIBIL 700)
4
Minimum 60% in qualifying examination (10+2 for UG, graduation for PG)
5
For Global Ed-Vantage: admission to a university listed on SBI's approved list (covers most top-ranked universities globally)
6
For SBI Scholar Loan (premier domestic institutions): admission to IIT, IIM, AIIMS, NIT, IIIT, BITS, XLRI, ISB, FMS, MDI, SPJIMR and similar
7
Self-employed or business co-applicant: 3 years of ITRs with computation. Salaried: latest 3 months salary slips + Form 16

Step 2

Documents Required

4 categories · Keep ready

Identity & KYC (Applicant + Co-applicant)

5 items
  • PAN Card (both applicant and co-applicant)
  • Aadhaar Card
  • Passport (mandatory for abroad studies)
  • Address proof: voter ID / driving license / utility bill
  • 2 passport-size photographs each

Academic Documents

6 items
  • Class 10 mark sheet
  • Class 12 mark sheet
  • Undergraduate degree transcripts and final marksheet (for PG applicants)
  • Entrance exam scores: GRE / GMAT / IELTS / TOEFL / NEET / JEE
  • Admission/offer letter from institution
  • Fee structure (semester-wise breakdown)

Co-applicant Financial Documents

5 items
  • Last 3 years' ITRs with computation sheet
  • Last 3 months' salary slips (for salaried)
  • Form 16 (last 2 years)
  • 6 months' bank statements (savings + salary account)
  • Audited financial statements (for self-employed/business)

Collateral Documents (if applicable)

5 items
  • Title deed of property (registered sale deed)
  • Latest property tax receipt
  • Encumbrance certificate (last 13 years)
  • Sanctioned building plan / approval
  • Property valuation report from SBI's empanelled valuer

Honest Review

SBI pros & cons

What works

Pros

  • Lowest interest rates among all major lenders (7.15% starting for premier institutes)
  • Largest branch network in India: easy follow-up and documentation
  • Eligible for Central Sector Interest Subsidy Scheme (CSIS) if family income ≤ ₹4.5 L/year
  • Up to 50% concession in processing fee for women borrowers
  • Zero prepayment penalty after disbursement begins
  • Government-backed credibility: strong visa application support letter
  • Available for almost every recognised institution worldwide

Watch out

Cons

  • Longer processing time (15–25 days) compared to private banks (7–14 days) and NBFCs (5–7 days)
  • Stricter income and CIBIL requirements for co-applicant
  • Property collateral often required for loans above ₹7.5 Lakhs (with some exceptions for top institutes)
  • Branch-driven process: may need multiple visits to home branch
  • Conservative approach to non-tier-1 institutes. May decline applications for less-known universities
  • Less flexibility in negotiating rates compared to private banks and NBFCs

Security

Collateral Requirements

For loans up to ₹7.5 Lakhs, SBI offers collateral-free education loans under the Credit Guarantee Fund Scheme (CGFSEL). For loans between ₹7.5 L and ₹40 L for premier institutions like IIT/IIM/AIIMS/NIT under the Scholar Loan scheme, no collateral is required, only third-party guarantee. For loans above ₹40 L (typically for studies abroad under Global Ed-Vantage), SBI requires tangible collateral: residential property, fixed deposits, LIC policies with surrender value, or government bonds. The Loan-to-Value (LTV) ratio is typically 90% of realisable value for residential property. Approved collateral types exclude agricultural land, ancestral property without clear title, and properties under litigation. SBI uses its own empanelled valuers. The valuation typically takes 10–15 working days.

Coverage

Approved Universities

SBI Scholar Loan covers around 130 premier domestic institutions including all IITs, IIMs (including baby IIMs), NITs, IIITs, BITS Pilani, AIIMS Delhi and new AIIMS, XLRI, ISB, FMS Delhi, MDI Gurgaon, SPJIMR, JIPMER, NLSIU, and other equivalent institutions. SBI Global Ed-Vantage covers a wide list of foreign universities, over 6,000 globally, categorised into List A (top 100 globally, get the lowest rates and highest unsecured limits) and List B (acceptable, with slightly higher rates). The latest approved list is updated quarterly and available at any SBI branch or on the official SBI website. For courses, eligible programs include undergraduate degrees, postgraduate (Masters, MBA, PhD), professional courses (CA, CS, ICWA), and specific technical certifications. Vocational courses below 6 months and unaccredited online programs are generally not covered.

The Process

How SBI loan works

From application to disbursement, what to expect.

1

Check eligibility

Use our 2-minute quiz to see if you qualify.

2

Submit application

Upload docs through our portal. We organise for SBI.

3

Sanction

SBI processes in 15–25 working days. We chase for you.

4

Disbursement

Bank wires fees directly to your institute.

Compare

SBI vs Other Lenders

If SBI doesn't suit your profile, here are the strongest alternatives.

Bank of Baroda Vidya logo

Alternative

Bank of Baroda Vidya

Similar PSU offering with slightly higher rates (8.45%–10.50%) but typically 5–7 days faster processing. Choose Baroda if you're applying from a Tier-2 city and want faster branch-level approvals.

Compare for my profile
ICICI Bank Education Loan logo

Alternative

ICICI Bank Education Loan

Private bank alternative offering 9.85%–12.50% rates but 7–14 day processing. Choose ICICI if you need approval in under 2 weeks, want a fully digital experience, or your co-applicant has an existing ICICI relationship.

Compare for my profile
Credila logo

Alternative

Credila

NBFC alternative offering up to ₹1.5 Cr unsecured at 9.70%–13% rates. Choose Credila if you need a larger unsecured loan amount than SBI's ₹50 L cap, or if your timeline is under 1 week.

Compare for my profile

SBI Education Loan: FAQs

Common questions about taking an education loan from State Bank of India

SBI Global Ed-Vantage is specifically designed for studies abroad with loan amounts up to ₹1.5 Crore, available for studies in 6,000+ approved foreign universities. SBI Scholar Loan is for studies in India at premier institutions, IITs, IIMs, AIIMS, NITs, BITS, ISB, XLRI, etc., with loan amounts up to ₹40 Lakhs. Scholar Loan offers the lowest rates (7.15% starting) because it lends only to top-ranked Indian institutes, while Global Ed-Vantage rates start slightly higher at 9.65% reflecting the foreign-currency exposure.
Yes. SBI offers collateral-free education loans up to ₹7.5 Lakhs under the Credit Guarantee Fund Scheme (CGFSEL). For loans up to ₹40 Lakhs under Scholar Loan (for IIT/IIM/AIIMS/NIT/BITS and similar premier institutes), SBI does not require tangible collateral, only a third-party guarantee from a co-applicant. For Global Ed-Vantage, SBI offers unsecured loans up to ₹50 Lakhs for select top global universities under their 'List AA' category. For loans above these limits, residential property or fixed deposit collateral is required.
SBI education loan interest rates currently range from 7.15% to 10.15% per annum. The Scholar Loan for premier domestic institutes runs from 7.15% to 7.90%. Global Ed-Vantage for study abroad is 9.65% with collateral, with a 0.50% concession for girl students (9.15%). At SBI's list of select universities it is 9.65% without collateral up to ₹50 lakh, or 9.15% with collateral. The exact rate depends on the loan amount, university category, and co-applicant's CIBIL score. Rates are linked to SBI's EBLR (External Benchmark Lending Rate) and are revised quarterly when RBI changes the repo rate.
SBI typically takes 15–25 working days for in-principle sanction once all documents are submitted. The breakdown: 3–5 days for document verification, 5–7 days for credit assessment, 5–10 days for collateral valuation (if applicable), and final 2–3 days for sanction letter issue. To expedite, ensure all documents are complete and submitted to your home branch in one go. Pre-approved customers (existing SBI account holders with good standing) can get approval in 10–12 days.
Yes, SBI does not charge any prepayment penalty on education loans. You can make partial prepayments or fully close the loan anytime after disbursement begins, with no additional charges. This is mandated by RBI for all banks on floating-rate retail loans. A common strategy: after starting your career, make a one-time partial prepayment of 10–20% of outstanding principal in years 1–3 of repayment. This typically saves 25–35% of total interest over the loan tenure.
Yes, several. (1) Central Sector Interest Subsidy Scheme (CSIS) provides full interest subsidy during moratorium for families earning ≤ ₹4.5 L/year, on loans up to ₹10 Lakhs. (2) Padho Pardesh covers interest subsidy for minority community students studying abroad. (3) Various state government schemes (Kerala KSFE, Tamil Nadu, Maharashtra Annasaheb Patil) provide additional subsidies. (4) PM Vidyalakshmi Scheme (2024) covers 3% interest subsidy for families up to ₹8 L income on loans to top 860 institutions. SBI processes all these subsidies automatically once you submit eligibility documents.
Yes. SBI education loans cover the complete cost of attendance: tuition fees, hostel/accommodation, examination and library fees, books and equipment, laptop or computer costs (typically up to ₹1 Lakh), travel including airfare for abroad studies, health insurance premiums, visa and immigration fees, caution deposits, and study tour expenses. For studies abroad, even standardised test prep fees (GRE, GMAT, IELTS, TOEFL) can be reimbursed if paid within 6 months of loan disbursement. Non-tuition expenses are typically capped at 20% of total tuition.
Common reasons for rejection include: low CIBIL score of co-applicant (below 700), insufficient income, university not on SBI's approved list, or unrealistic loan amount given the program cost. If rejected, you can: (1) Improve your co-applicant's CIBIL score and reapply after 3–6 months. (2) Add a stronger second co-applicant. (3) Try Bank of Baroda or Canara Bank which have similar PSU products with slightly more flexible criteria. (4) Try ICICI Bank or Credila which assess on different parameters. FundMyCampus can review your profile and suggest the best alternative lender based on the specific reason for SBI's rejection.
SBI generally does not provide education loans for online-only or distance learning courses, except for select recognised programs like IIT/IIM online degree programs and select UGC-recognised distance MBAs. For executive MBA programs that are part-time but classroom-based (like ISB PGPpro, IIM Executive MBAs), SBI does provide loans. For pure online certifications (Coursera, edX, etc.) or bootcamps (Scaler, Coding Ninjas), SBI does not lend. You'd need to look at NBFCs like Eduvanz or Propelld, or a personal loan.
Ready to apply

Need help applying to SBI?

FundMyCampus is free. We'll help you apply to SBI, or recommend a better-fit lender if SBI isn't right for you.

Zero fees from students 12+ banking partners Free counsellor call
Check Your Eligibility: Free
FundMyCampus Chat