Loan basics
Collateral-free education loan for abroad: 10 questions to ask the lenderEducation loan abroad: lender terms side by side
Last checked 26 October 2026
Official terms side by side
Read the page dates as well as the terms. A missing detail is not a waiver. Institution categories, loan limits and rate bands must be confirmed for your own case.
| Term | Bank of BarodaBaroda Scholar | State Bank of IndiaGlobal Ed-Vantage |
|---|---|---|
| Loan range | Up to Rs 150 lakh for premier institutions; up to Rs 60 lakh for non-premier institutions. | Rs 20 lakh to Rs 1.5 crore on the scheme page. |
| Margin | Premier: nil up to Rs 4 lakh; 15 percent above Rs 4 lakh up to Rs 7.5 lakh; nil above Rs 7.5 lakh. Non-premier: nil up to Rs 4 lakh; 15 percent above Rs 4 lakh up to Rs 7.5 lakh; 10 percent above Rs 7.5 lakh. | Not stated on the page we checked, ask the bank |
| Security | Up to Rs 4 lakh: parent co-obligation, no security. Above Rs 4 lakh up to Rs 7.5 lakh: third party guarantee plus assignment of future income. Above Rs 7.5 lakh up to Rs 80 lakh: tangible collateral equal to 100 percent of the loan plus assignment of future income. Above Rs 80 lakh: security cover 1.25 times the loan plus assignment of future income. | Not stated on the page we checked, ask the bank |
| Moratorium | Course period plus 1 year. | Not stated on the page we checked, ask the bank |
| Repayment | 10 to 15 years after moratorium: up to 120 instalments for loans up to Rs 7.5 lakh; up to 180 instalments above Rs 7.5 lakh. | Repayment by EMI up to 15 years. |
| Processing and other fees | Processing fee nil up to Rs 7.5 lakh. Above that: 1 percent, capped at Rs 10,000 plus GST; refunded on first disbursement for premier institutions. Plus Rs 200 PMVLP charge and Rs 8,500 per mortgaged property for advocate and valuer charges. | Not stated on the page we checked, ask the bank |
| Interest basis | Floating, linked to BRLLR. Premier: BRLLR plus 0.55 percent. Non-premier: BRLLR plus 2.00 percent up to Rs 7.5 lakh; BRLLR plus 1.05 percent above Rs 7.5 lakh. Canada, non-premier, above Rs 7.5 lakh: BRLLR plus 2.55 percent. No absolute rate shown because the current BRLLR has not been verified. | Rates effective 15 June 2025, linked to the External Benchmark Rate (repo plus spread). These rates may have changed. With collateral, above Rs 7.5 lakh to Rs 3 crore: 9.15 percent. Takeover, above Rs 10 lakh with collateral: 9.15 percent. Select institutions: without collateral, above Rs 7.5 lakh to Rs 50 lakh: 9.15 percent; with collateral, above Rs 7.5 lakh to Rs 3 crore: 8.65 percent; takeover: 8.65 to 9.15 percent. 0.50 percent concession for girl students. Confirm how it applies to your case. The rates page describes collateral categories, but the scheme page does not state its collateral rules. Ask the bank for the complete written conditions. |
| Page date | No page date shown on the page. Last checked 26 October 2026. | Scheme page last updated 20 February 2020. Rates effective 15 June 2025. Last checked 26 October 2026. |
Bank of Baroda: source and limits
The bank page FAQ separately mentions a starting rate of BRLLR plus 1.75 percent. This differs from the scheme spreads above. Confirm the applicable spread and current BRLLR with the bank.
- Bank of Baroda: Baroda Scholar. No page date shown on the page. Last checked 26 October 2026.
State Bank of India: source and limits
SBI's own page shows two different EBR figures: 8.15 and 8.65 percent. Confirm the current benchmark and final rate directly with SBI. The scheme page and rates page also show different loan limits; do not assume the larger rate band is your scheme limit.
- SBI: Global Ed-Vantage scheme. Last updated 20 February 2020. Last checked 26 October 2026.
- SBI: education loan rates. Rates effective 15 June 2025. Last checked 26 October 2026.
How to compare any lender in writing
- What loan amount can I get for my university and course, and which costs are covered?
- How much margin money must my family pay, and when must we pay it?
- What collateral, guarantees and co-applicant responsibilities are required?
- What is the current benchmark, spread and final interest rate, and when can it change?
- How long is the moratorium, and what happens to interest during that period?
- When does EMI start, and what repayment period applies to my loan?
- What processing, legal, valuation, tax and other charges apply, and which are refundable?
- How is the loan disbursed, and what happens to repayment if my first job is delayed?
Read the collateral-free loan questions and margin money guide. Ask for the answers in writing, not just a spoken estimate.
Compare your EMI in the calculator using the lender's confirmed rate and loan amount. Try a delayed-job scenario too. The calculator does not decide eligibility or approval.
What we have not covered
- Private banks
- NBFCs
- Other public banks
This list does not compare every product or every condition. No loan approval or visa outcome is promised.
Frequently asked questions
Is either lender recommended or ranked?
No. This is an unpaid, alphabetical comparison of two official pages, not a recommendation or a complete lender list.
Why is there no absolute Bank of Baroda rate?
Its rates use BRLLR plus a spread, and we have not verified the current BRLLR. Its FAQ also gives a different starting spread. Ask the bank to confirm both in writing.
Are the SBI rates current?
SBI's rates page says they were effective from 15 June 2025. They may have changed, and the page shows conflicting EBR figures. Confirm the current rate directly.
Does a missing term mean the bank does not require it?
No. It only means the scheme page we checked does not state it. Ask the bank for its full terms before signing.
Related guides
Sources
- Bank of Baroda: Baroda Scholar. No page date shown on the page. Last checked 26 October 2026.
- SBI: Global Ed-Vantage scheme. Last updated 20 February 2020. Last checked 26 October 2026.
- SBI: education loan rates. Rates effective 15 June 2025. Last checked 26 October 2026.
General information, not financial advice. Terms and rates change. Confirm the lender's full written terms before signing.