Get an Education Loan from ICICI Bank

Fund your study abroad dreams with fast and hassle-free ICICI Bank education loans.

Overview of ICICI Bank Loan

ICICI is one of India’s largest private-sector banks. Since 1994, ICICI Bank loans have supported students pursuing higher education. ICICI bank loans come with flexible repayment options and tax benefits.

Advantages of Choosing ICICI Bank Loan

Get loans up to ₹3 crore for international studies.

100% online application process, no need to visit branches.

Personalized loan options with both non-collateral and collateral products.

Competitive interest rates that ensure affordability.

Flexible repayment plans, including a 12-month moratorium post-graduation.

ICICI Bank Education Loan Features

ICICI Education Loan Interest Rate

Starting @ Repo Rate + 3.75%

ICICI Education Loan Tenure

Up to 15 years

ICICI Education Loan Amount

Up to ₹3 crore

ICICI Education Loan Repayment

After 12-month moratorium post-graduation

Eligibility Criteria & Documents Required

ICICI Bank education loan eligibility criteria:
You must be an Indian citizen
Your age must be between 16 and 35 years
You should have a proven academic record (minimum 10+2 or equivalent qualification)
You should have a proof of admission to a recognized institution
You should have entrance exam scores or a pre-admission sanction

Documents required for ICICI Bank education loan:
Valid identity proof
Residence proof
Academic records (mark sheets, certificates, and entrance exam scores)
Admission letter along with a statement of study costs
Co-applicant income proof (salary slips, IT returns, or bank statements)

ICICI Bank Education Loan vs Other Banks

Feature

Interest Rates

Loan Amount

Processing Fees

Collateral Requirement

Pre-Visa Loan Approval

Repayment Flexibility

Loan Coverage

Loan Disbursement Speed

Prepayment Charges

ICICI Bank

Secured: 9.25% onwards
Unsecured: 10.5% onwards

Secured: Upto 3Cr
Unsecured : Upto 1Cr

0.75% - 1% + GST

Movable assets like FDs and bonds or immovable assets like flats, houses, lands

Pre-approved loans available for premier institutes

Moratorium period, PSI, SI, EMI

100% financing for tuition fee, living expenses & other expenses

Secured: Upto 1 week
Unsecured: Upto 3 weeks

No prepayment or foreclosure charges

Other Banks & NBFCs

10-13%

Up to 1.5 crore

1-2% of loan amount

Non collateral loans are available from many banks and NBFCs

Pre-visa loans are available

Up to 15 years

Up to 100% of the cost of education and cost of stay for the duration of the educational program

2-3 weeks

In some banks, prepayment is not allowed for up to 12 months.

How to Apply for an ICICI Bank Education Loan?

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Real Student Success Stories: Experiences with ICICI Education Loans

200,000+

students assisted

₹16,300 crore

loan requests processed

₹2,000 crore

disbursed in loans

Get personalized ICICI Bank education loan offers to finance your studies.

Frequently Asked Questions

What is the current interest rate for ICICI Bank education loan?

ICICI Bank education loans vary from time to time. In general, for non-collateral loans, rates range from 11.25% to 12.75%. For loans backed by a collateral security, interest rates start at 10.25%.

What documents are required to apply for an ICICI Bank education loan?

Required documents include:

Student identity proof (Aadhaar, PAN, Passport)
Residence proof
Academic records
Admission letter
Two passport-sized photos
Co-applicant income and identity proofs
Collateral documents (if applicable)

How can I compare ICICI Bank education loans with other banks?

You can compare ICICI Bank education loans with other banks via GradRight. Create a profile on GradRight to compare loan offers from 15+ Indian and international lenders.