Studying abroad offers unique opportunities, but it can also bring significant financial challenges. Diploma courses abroad are an excellent option for those seeking to acquire industry-specific skills and enter the workforce quickly.
However, securing funding for your international diploma program is essential. The State Bank of India (SBI) provides accessible education loans for students pursuing diploma courses abroad, offering flexible terms and competitive interest rates.
In this comprehensive guide, we'll walk you through everything you need to know about the SBI education loan for diploma courses abroad, including eligibility criteria, required documents, interest rates, and more.
Why Choose a Diploma Course Abroad?
Diploma programs abroad focus on skill-building and offer career-driven learning, making them increasingly popular among students seeking practical education in a shorter time frame.
These courses usually span 1-2 years, offering industry-relevant skills that directly translate into employment opportunities.
- Diploma programs are typically shorter, completing in 1-2 years, making them ideal for those eager to enter the workforce quickly.
- Diploma courses are more affordable than full degrees but still offer globally recognised qualifications.
- These courses offer hands-on experience through internships and practical training, preparing students for real-world challenges.
- Diplomas are widely accepted in multiple industries worldwide, making graduates highly employable in international job markets.
Get an Education Loan 10X Faster than Banks.
Top Destinations for Studying Diploma Courses Abroad in 2025
If you've decided to study abroad for a diploma, it's crucial to pick a country that offers high-quality education and relevant industry opportunities. Some of the top destinations for diploma programs include:
Planning to study overseas but worried about finances? Don't miss our detailed guide on how to get an education loan for abroad studies in 2024.
SBI Loan Schemes for Diploma Courses Study Abroad
SBI offers two main types of education loans for diploma courses abroad: secured and unsecured loans. Each has distinct features, making it easy to choose one based on your financial situation.
Unsecured Education Loans:
- Loan amount is up to INR 7.5 Lakhs (without collateral)
- The interest rate is typically higher due to the lack of collateral.
- Approval process is generally quicker but may have stricter eligibility criteria.
- Ideal for students needing smaller loan amounts for affordable programs.
Secured Education Loans:
- Loan amount is up to INR 3 Crores (with collateral)
- The interest rate ranges from 9.15% to 9.65%, depending on the type of collateral and the university's status.
- Collateral options include Property (house, flat, plot), Fixed Deposits, or LIC Policies.
- The repayment period is flexible, ranging from 1 to 15 years.
- The moratorium period covers the entire course duration, plus 6 months after course completion.
- Ideal for students needing larger loan amounts, as collateral lowers the interest rate and increases the approval chances.
Interest Rates on SBI Diploma Education Loan
The interest rates for SBI's education loans are competitive and vary based on whether you're applying for a secured or unsecured loan. Additionally, female students can avail ofa 0.50% concession on the interest rate, making it an even more attractive option for women pursuing education abroad.
Here's a quick breakdown:
Minimal Docs, Maximum Approval - Apply Now.
Eligibility for SBI Diploma Education Loan for Abroad Courses
Before applying for an SBI education loan, it's essential to ensure you meet the following eligibility criteria:
- Applicants must be between 18 and 35 years old.
- Only Indian citizens are eligible.
- You must have secured admission to a recognised diploma course abroad.
- A good academic track record increases the chances of loan approval.
- A co-applicant (usually a parent or guardian) with a stable income and good credit score is mandatory.
SBI is more flexible in approving loans for diploma courses abroad compared to many private lenders, as long as the above criteria are met.
How to Apply for an SBI Education Loan for Diploma Courses Abroad?
Applying for an SBI education loan is a straightforward process. Here are the steps:
- Review the requirements listed above to ensure you meet the qualifications.
- Collect all necessary documents for yourself and the co-applicant.
- Apply online through the SBI Education Loan Portal or visit the nearest branch.
- After submission, your application will be processed, and SBI will verify the documents, especially for secured loans.
- Upon approval, you'll receive a sanction letter, and disbursement will occur in accordance with the university's payment schedule.
- SBI transfers the tuition fees directly to the university. For living expenses, the bank can load funds to a Forex card or transfer them to a country-specific account.
Documents Required for SBI Diploma Education Loan Application
To ensure a smooth application process, make sure to submit the following documents:
SBI provides a detailed checklist to help you organise these documents before submitting your loan application.
Planning to take an instant loan for higher studies? Ensure you are familiar with the co-applicant rules first. Our guide on 'Who Can Be a Co-Applicant for an Education Loan' breaks down the eligibility and documents required.
SBI Education Loan for Diploma Courses Abroad: Repayment Terms
SBI offers flexible repayment terms that make managing loans more feasible:
- Moratorium Period:
Repayment begins after completing the course and 6 months, allowing you time to settle abroad and find employment.
- Repayment Period:
Loans can be repaid over a 15-year tenure.
- EMIs:
For loans secured with collateral, EMIs are structured to be affordable, taking into account the borrower's financial situation after graduation.
SBI's education loan for diploma courses abroad offers an affordable, flexible, and student-friendly way to fund your international education. Whether you're pursuing an undergraduate degree in hospitality in the UK or a postgraduate degree in IT in Canada, SBI offers competitive terms, easy disbursement, and convenient repayment schedules.
If you're looking for the right partner that makes this education loan process smoother and simpler, Propelld can help. With quick digital approvals, collateral-free loans up to ₹50 lakhs, and flexible repayment options, Propelld takes the hassle out of financing your global education.
Take the first step towards your future—Apply with Propelld today!
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Studying abroad offers unique opportunities, but it can also bring significant financial challenges. Diploma courses abroad are an excellent option for those seeking to acquire industry-specific skills and enter the workforce quickly.
However, securing funding for your international diploma program is essential. The State Bank of India (SBI) provides accessible education loans for students pursuing diploma courses abroad, offering flexible terms and competitive interest rates.
In this comprehensive guide, we'll walk you through everything you need to know about the SBI education loan for diploma courses abroad, including eligibility criteria, required documents, interest rates, and more.
Why Choose a Diploma Course Abroad?
Diploma programs abroad focus on skill-building and offer career-driven learning, making them increasingly popular among students seeking practical education in a shorter time frame.
These courses usually span 1-2 years, offering industry-relevant skills that directly translate into employment opportunities.
- Diploma programs are typically shorter, completing in 1-2 years, making them ideal for those eager to enter the workforce quickly.
- Diploma courses are more affordable than full degrees but still offer globally recognised qualifications.
- These courses offer hands-on experience through internships and practical training, preparing students for real-world challenges.
- Diplomas are widely accepted in multiple industries worldwide, making graduates highly employable in international job markets.
Get an Education Loan 10X Faster than Banks.
Top Destinations for Studying Diploma Courses Abroad in 2025
If you've decided to study abroad for a diploma, it's crucial to pick a country that offers high-quality education and relevant industry opportunities. Some of the top destinations for diploma programs include:
Planning to study overseas but worried about finances? Don't miss our detailed guide on how to get an education loan for abroad studies in 2024.
SBI Loan Schemes for Diploma Courses Study Abroad
SBI offers two main types of education loans for diploma courses abroad: secured and unsecured loans. Each has distinct features, making it easy to choose one based on your financial situation.
Unsecured Education Loans:
- Loan amount is up to INR 7.5 Lakhs (without collateral)
- The interest rate is typically higher due to the lack of collateral.
- Approval process is generally quicker but may have stricter eligibility criteria.
- Ideal for students needing smaller loan amounts for affordable programs.
Secured Education Loans:
- Loan amount is up to INR 3 Crores (with collateral)
- The interest rate ranges from 9.15% to 9.65%, depending on the type of collateral and the university's status.
- Collateral options include Property (house, flat, plot), Fixed Deposits, or LIC Policies.
- The repayment period is flexible, ranging from 1 to 15 years.
- The moratorium period covers the entire course duration, plus 6 months after course completion.
- Ideal for students needing larger loan amounts, as collateral lowers the interest rate and increases the approval chances.
Interest Rates on SBI Diploma Education Loan
The interest rates for SBI's education loans are competitive and vary based on whether you're applying for a secured or unsecured loan. Additionally, female students can avail ofa 0.50% concession on the interest rate, making it an even more attractive option for women pursuing education abroad.
Here's a quick breakdown:
Minimal Docs, Maximum Approval - Apply Now.
Eligibility for SBI Diploma Education Loan for Abroad Courses
Before applying for an SBI education loan, it's essential to ensure you meet the following eligibility criteria:
- Applicants must be between 18 and 35 years old.
- Only Indian citizens are eligible.
- You must have secured admission to a recognised diploma course abroad.
- A good academic track record increases the chances of loan approval.
- A co-applicant (usually a parent or guardian) with a stable income and good credit score is mandatory.
SBI is more flexible in approving loans for diploma courses abroad compared to many private lenders, as long as the above criteria are met.
How to Apply for an SBI Education Loan for Diploma Courses Abroad?
Applying for an SBI education loan is a straightforward process. Here are the steps:
- Review the requirements listed above to ensure you meet the qualifications.
- Collect all necessary documents for yourself and the co-applicant.
- Apply online through the SBI Education Loan Portal or visit the nearest branch.
- After submission, your application will be processed, and SBI will verify the documents, especially for secured loans.
- Upon approval, you'll receive a sanction letter, and disbursement will occur in accordance with the university's payment schedule.
- SBI transfers the tuition fees directly to the university. For living expenses, the bank can load funds to a Forex card or transfer them to a country-specific account.
Documents Required for SBI Diploma Education Loan Application
To ensure a smooth application process, make sure to submit the following documents:
SBI provides a detailed checklist to help you organise these documents before submitting your loan application.
Planning to take an instant loan for higher studies? Ensure you are familiar with the co-applicant rules first. Our guide on 'Who Can Be a Co-Applicant for an Education Loan' breaks down the eligibility and documents required.
SBI Education Loan for Diploma Courses Abroad: Repayment Terms
SBI offers flexible repayment terms that make managing loans more feasible:
- Moratorium Period:
Repayment begins after completing the course and 6 months, allowing you time to settle abroad and find employment.
- Repayment Period:
Loans can be repaid over a 15-year tenure.
- EMIs:
For loans secured with collateral, EMIs are structured to be affordable, taking into account the borrower's financial situation after graduation.
SBI's education loan for diploma courses abroad offers an affordable, flexible, and student-friendly way to fund your international education. Whether you're pursuing an undergraduate degree in hospitality in the UK or a postgraduate degree in IT in Canada, SBI offers competitive terms, easy disbursement, and convenient repayment schedules.
If you're looking for the right partner that makes this education loan process smoother and simpler, Propelld can help. With quick digital approvals, collateral-free loans up to ₹50 lakhs, and flexible repayment options, Propelld takes the hassle out of financing your global education.
Take the first step towards your future—Apply with Propelld today!
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