Event Description
Welcome to our web-series, ‘Loanflix’, with episodes put together by our team of experts to help you understand every aspect of the education loan process. Today’s 6th episode is titled - “SBI Education Loan - documentation, process and timeline”. This episode will give you an insight into the process of getting abroad education loans from SBI which is one of the biggest nationalized banks in India.
This 6th episode of Loanflix will give you an insight into every step involved in getting abroad education loans from SBI. Every minute detail of every step, from applying for the loan to the disbursement of the loan is explained well in detail. Below are the highlights of the SBI education loan process discussed in this episode.
Step 1: Applying for abroad education loans from SBI
Did you know that you are just a click away from your loan application? Applying for a loan is no longer a dreadful process as this can be done online. Our experts tell you how to apply for SBI abroad education loans, the easy way.
Step 2: How does the bank coordinate with the applicants?
Who collects documents? How is a branch allotted to the loan applicants? all these questions are answered in this section of the episode.
Step 3: Collection of documents
This step is important in securing abroad education loans from SBI. Our experts explain the documents required by the bank for abroad education loans. Also, why it is advised to approach the bank through WeMakeScholars to make this step easier is explained.
Step 4: Legal verification and property valuation
This section answers questions like, who does the legal verification? who does the property valuation procedure? Is a lawyer allotted to an applicant by the bank branch? If not, who does it? etc.
Step 5: SBI abroad education loans - Document Verification- Part 1
Important doubts like, who verifies the documents? What happens to the document file once it is submitted to the branch? etc. are described in this section of the episode.
Step 6: SBI abroad education loans - Document Verification- part 2
Who is a processing officer? Which authorities are involved in this extended part of the verification process? You will find answers to all these questions in this part of the episode.
Step 7: Sanctioning of the Loan
When are abroad education loans sanctioned? who sanctions it? How is the candidate informed about it? You will have a better understanding of the process once these questions are cleared by our experts in this section of the episode.
Step 8: Scheduling of appointment
Terms like documentation, mortgage creation, etc. are described in detail here. Apart from these terms, questions like, who schedules the appointment for the documentation process? etc. will also be explained.
Step 9: Mortgage creation
What is mortgage creation? Who creates the mortgage? Will someone guide you through the process? These questions are answered in this part of the episode.
Step 10: Loan disbursement
Who disburses the loan? Will the loan amount be disbursed on time? What happens once the abroad education loans are approved? etc. are the questions that will be answered as you reach the end of this episode.
We understand that despite all the information on abroad education loans available on the internet, the above points may have brought questions to your mind surrounding abroad education loans from SBI. To get better clarity about these questions, do make it a point to watch the 6th episode of Loanflix on YouTube. The video is given below. And if you found this episode informative, don't forget to subscribe to our YouTube channel for more such information-loaded episodes.
Also, do stay tuned for the 7th episode of Loanflix, which is titled 'Bank of Baroda education loan for abroad studies', where our experts will be explaining the education loan schemes offered by the Bank of Baroda, the eligibility criteria, documents checklist, etc. If you missed our previous episode on SBI education loan for abroad studies, do watch the episode here.
Date And Time
Timezone : (GMT+05:30) Chennai
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Speakers
Damini Mahajan
CoFounder & CEO, WeMakeScholars
Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.
Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India.
She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech.