The United States has long been a coveted destination among Indian students pursuing higher education. With its world-renowned universities and promising career opportunities, studying in the USA is considered a perfect choice by many. When it comes to the financial aspect, most of the students face a hiccup here. Keeping into account the rising currency difference between INR & USD, students often look out for an overseas education loan.
Among the sea of options lies a reliable Indian bank, the State Bank of India (SBI). With its exclusive Global Ed-Vantage Scheme, students aiming to study in the USA now have the option to get generous loan amounts for secured and unsecured loans. For loan takers in 2025, SBI has enhanced its offerings with some new add-ons. If you are wondering what they might be, well keep reading to get all the latest information and how they align with your USA student loan.
SBI’s Global Ed Vantage Scheme for USA Student Loans
The Global Ed-Vantage Scheme by SBI is a comprehensive education loan plan that accommodates Indian students aspiring to study at premier institutions abroad, including those in the USA. It is particularly suited for high-value loans required for professional courses like Engineering, Science, Medicine, or an MBA at top universities. Some of the latest features that you must know about are given below:
Key Features of the Global Ed-Vantage Scheme for 2025
- High Amount for Secured & Unsecured Loans
Under this scheme, students can avail of a secured loan amount ranging up to INR 1.5 crores and more depending on the value of the security pledged. On the other hand, for unsecured loans to study at the top US universities, you can get a loan amount of up to INR 50 Lakhs. It covers tuition fees, living expenses, travel costs, and other education-related expenditures without putting you under financial stress.
- Competitive Interest Rates
SBI offers one of the most competitive interest rates in the market for this scheme. In 2025, the interest rates will start at 9.55% per annum for secured loans and 10.15% for unsecured loans. Along with this, there is an additional concession of 0.50% for female students under its commitment to empowering women.
3. Easy Collateral Requirements
Secured loans under this scheme will require collateral such as property, fixed deposits, or other tangible assets. This ensures favourable terms and a higher loan amount depending on the value of your collateral security pledged.
- Flexible Repayment Options
Borrowers get a moratorium period of course duration plus six months. During this repayment is not required. However, paying the simple interest is mandatory for unsecured loans in this scheme. Post this period, students can repay the loan in equated monthly instalments (EMIs) over a tenure of up to 15 years.
- No Hidden Costs
The processing fee is nominal for SBI and capped at INR 10,000 plus GST. Additionally, this fee is refundable in nature and provides the aspect of affordability for borrowers.
- Fast-Track Loan Sanction
For students admitted to selected top-tier universities in the USA, SBI provides a fast-track loan approval process, simplifying the otherwise cumbersome procedure of long waiting.
- Tax Benefits on Loan Interest Paid
Loan borrowers through SBI can claim tax benefits under Section 80E of the Income Tax Act.
8. Forex Services
SBI offers preferential exchange rates and remittance services, making it seamless for students to manage their finances in the USA.
These are some of the major benefits, additionally, the YONO app by SBI provides a user-friendly platform to track and manage your loan accounts. Now that you know so much about this scheme, let’s get you familiar with the application process.
SBI Education Loan for Abroad: Stepwise Application Process
Applying for an education loan can seem a bit tedious but SBI simplifies the process. To get a loan under the Global Ed-Vantage Scheme, given below is a step-by-step process.
1. Initial Enquiry & Eligibility Check
Visit the nearest branch of SBI or its official website to confirm the eligibility requirements for SBI education loans for abroad. In most cases, the basic eligibility criteria involve admission to a full-time course in a recognized university in the USA and adequate collateral for secured loans.
2. Document Arrangement
Once everything is ticked, take the next step by arranging the essential documents. Some of these include an admission letter from a US university, fee structure and course details, academic records and test scores (GRE/GMAT & TOEFL/IELTS). Proof of identity and address. Also, collateral documents if applicable to your loan type.
3. Application Process
For online applications, visit the SBI Education Loan portal or the YONO app to fill out the application form. Upload all required documents. For applications via the bank, fill in the application form in person.
4. Loan Processing and Sanction
Once the documents are verified, SBI assesses the loan application. For students admitted to top universities, this process is expedited.
5. Loan Agreement and Disbursement:
After the loan sanction, applicants will have to sign the loan agreement. Funds are disbursed directly to the university (tuition fees) or into the student’s account (living expenses) as per requirements.
As you have already read, in 5 simple steps you are sorted with your USA student loan through SBI. With the latest features of the Global Ed-Vantage Scheme for 2025, it solidifies its position as one of the best education loans in India for study abroad.
For students and parents looking for a seamless and transparent education loan process, SBI can be your best fit. So, visit the best overseas education loan advisor near you and initiate your loan application process today.