Education Loan from ICICI BANK


Eligibility Criteria
Indian resident/citizen
Confirmed admission in the colleges before disbursement.

For Studies in India:
Graduation courses – BA, B.Com, B.Sc. etc.
Post-Graduation courses - Masters & PhD.
Professional courses – Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.

Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institutes affiliated to University.
Regular Degree/Diploma courses like Aeronautical, Pilot Training, shipping etc. approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation / shipping authority.

Courses offered in India by reputed foreign universities.
Evening courses of approved institutes.
Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR / etc. Courses offered by National Institutes and other reputed private Institutions - depending on future prospects / recognition by the user Institutions.

Courses leading to certification are not to be considered.

ICICI Bank Student Loan Scheme Interest Rate for Female Students:
11.00% Per Annum for ICICI Bank Education Loan Amount up to Rs. 4, 00,000
11.50% Per Annum for ICICI Bank Education Loan Amount Rs. 400,001 to Rs. 750,000
12.00% Per Annum for ICICI Bank Education Loan Amount above Rs. 750,000

ICICI Bank Student Loan Scheme Interest Rate for Male Students:
11.25% Per Annum for ICICI Bank Education Loan Amount up to Rs. 4, 00,000
11.75% Per Annum for ICICI Bank Education Loan Amount Rs. 400,001 to Rs. 750,000
12.25% Per Annum for ICICI Bank Education Loan Amount above Rs. 750,000

Studies in India
(ii) 15% for studies outside India.
Interest Rate
LOAN LIMIT INTEREST RATE
Upto 4 Lacs 13.6%
More than 4 Lacs 14.6%

Margin:
Loan upto Rs.4.00 lacs: No margin
Loan above Rs.4.00 lacs: (i) 5% for ICICI Bank Limited Student Loan Scheme – Current Education Loan Interest Rates for Various Category of Borrowers

Document
  • KYC
  • Photo ID
  • Residence Proof
  • 2 passport size photograph
  • Educational
  • Admit letter
  • College fee-breakup
  • GRE/GMAT/TOEFL/IELTS, etc. Mark sheets (If applicable)
  • X, XII and Graduation marksheet
Security
  • Residential Flat
  • Residential House
  • Non‐Agricultural Land
  • A Fixed Deposit in ICICI Bank