SBI Global Ed-Vantage & Scholar Loan

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.

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.