What's the maximum I can borrow under SBI's Global Ed-Vantage scheme for studying in Australia?
Under SBI's Global Ed-Vantage scheme, you can borrow up to Rs 3 crore if you offer collateral for your Australian education, and up to Rs 50 lakh without collateral if you are admitted to a select premier institution the bank recognises for this benefit.
Your maximum borrowing limit under SBI's Global Ed-Vantage scheme depends on whether you can offer collateral. With collateral, you can access loans of up to Rs 3 crore for your Australian education, while collateral free loans go up to Rs 50 lakh if you have secured admission to a select premier institution.
Loan Limits Under the Scheme
| Loan Type | Maximum Amount |
|---|---|
| With collateral | Up to Rs 3 crore |
| Without collateral | Up to Rs 50 lakh, for admits at select premier institutions |
What Determines Your Actual Sanction
The final amount you get sanctioned still depends on your course cost, the ranking category of your chosen university, and your co-applicant's income and credit profile. The upper limits above are ceilings, not guaranteed amounts for every applicant.
My Advice
Before assuming you can borrow the full Rs 3 crore or Rs 50 lakh, check which institution category your Australian university falls under, since collateral free limits are usually reserved for a specific list of top ranked institutions.
Which Australian scholarships can you actually get?
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