Flywire has partnered with the State Bank of India (SBI) to streamline the process of paying tuition fees using education loans. This payment method is designated for SBI customers with a sanctioned education loan as SBI's existing education loan disbursement process has been integrated with Flywire’s platform.
Please see below the steps required to complete your SBI loan payment with Flywire:
Step 1: Access pay.flywire.com (or use the unique payment link provided by your institution) to initiate your payment.
You’ll begin by selecting your institution and then selecting ‘India’ as the country from which you are paying. You’ll then be required to enter the amount you wish to pay.
Step 2: Select "SBI Education Loan in INR" as your preferred payment method.
Step 3: Fill out the payer information.
Please ensure that the payer information corresponds to the details of the co-borrower/borrower in the loan application. Please note, you’ll need to provide the 11-digit SBI loan account number.
Step 4: Fill out the receiver information and confirm your payment.
Once you confirm your payment, a unique set of payment instructions will be generated for your payment.
Step 5: Visit your base branch or RACPC branch where the loan was processed with your payment instructions in order to initiate your payment.
If applicable, SBI will calculate the Tax Collected at Source (TCS) as well as the Goods and Services Tax (GST), which will be debited from the co-borrower/borrower’s savings account. As such, please ensure sufficient are available.
SBI will then process your payment to Flywire. Once we receive the funds, we will notify the payer by email and your payment status will be updated on your tracking page.
Flywire typically delivers the funds to the educational institution within 1-2 business days, provided there are no delays due to compliance checks or other issues.