ICICI Bank Education Loan

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Interest Rate

Starting @ 11.5%

Processing Fees

1% + GST

Loan Margin


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Founded in 1994, ICICI Bank is a leading private sector bank of India. ICICI offers an array of banking and financial services and credit products, formatted to suit differing customer needs.

The bank understands students' career aspirations and has designed its ICICI education loan for abroad in such a manner that every student is aided successfully in his/her journey towards his future.
With a collateral free loan of up to Rs.40 lakh, tax saving on interest paid u/S 80(E), flexible tenure and repayment options, and competitive ICICI Bank education loan interest rates, these loans help students realize their dream of attaining a world-class education in premier institutions abroad.

Check ICICI Education Loan Eligibility

ICICI Bank Abroad Education Loan - Features and Benefits

S.No. Features ICICI Education Loan Requirements
1. Maximum Loan Amount Rs.1 crore (With Collateral)
Rs. 40 Lakhs (Without Collateral)
2. ICICI Bank Education Loan Interest Rate Starting @ 11.5% p.a. (linked to their benchmark rate)
3. Loan Tenure Loan Without Collateral:
For UG - Moratorium period + 5 years
For PG - Moratorium period + 8 years
Loan With Collateral:
For UG - Moratorium period + 7 years
For PG - Moratorium period + 10 years
4. Repayment Holiday Course + 6 Months
5. Margin Money Up to Rs.20 lakh: NIL
Above Rs.20 lakh: 15%
6. Processing Fee 1 % of Loan Amount + GST
7. Processing Time 7 days
8. Payments during Study Period Repayment during study period mandatory, partial repayment options available depending on target course and institute.
9. Courses covered Job oriented degree or postgraduate diploma/professional courses offered by reputed institutes at UG and PG level
  1. No charges or restriction on part or prepayment of ICICI Bank education loan abroad.
  2. Student exchange travel, equipment like laptops, etc. and such expenses also included.
  3. Pre-Visa option is also available.
  4. Preferential forex rates offered to students availing ICICI Bank education loan for abroad studies.
  5. Quick disbursal.
  6. Loan without co-applicant for PG course for applicants having 3+ year of experience.
  7. Tax benefit on interest paid u/S 80(E) of the IT Act, 1961

Yes No

Total Interest to be paid


Total Payment Principal + Interest


Your EMI per month will be



Getting Your ICICI Education Loan Through GyanDhan

Low Turnaround Time

GyanDhan gets the ICICI education loan approved in just 7 days.

Doorstep Service

For ICICI Education Loans, someone will visit your home to pick-up documents. You will not need to go to any branch to get your loan approved.

No Cost to You

GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.

Higher Chances of Approval

In case of any missing documents or any roadblocks, we approach ICICI officials promptly to find solutions. This ensures speedy resolution of issues and significantly increases your odds of approval.

Apply Online & Upload Documents

Processing & Approval

Free Doorstep Document Collection

Loan Sanction & Disbursal

What are the eligibility criteria for the ICICI education loan?

The eligibility criteria for the ICICI education loan is -

  • The student should be an Indian citizen.
  • They must have secured admission to a recognized university through a merit/entrance-based process.

Which courses are eligible for an education loan from ICICI?

ICICI bank provides funding for all graduate and postgraduate programs and courses in India and abroad.

Documents Required For ICICI Education Loan

GyanDhan provides a customized documents list for ICICI Education loans, which depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. At a high level, the following documents are needed.

Applicant’s Documents Pertaining To:

  1. Identity Proof
  2. Address
  3. Past Academic Record

Co-Applicant’s Documents Pertaining To:

  1. Identity Proof
  2. Address
  3. Financial

After evaluating your profile, GyanDhan will present you with a customized documents’ list and then initiate the loan process with ICICI. If some documents are missing, then we will suggest alternatives to get your loan sanctioned on time.

Request a Call Back from our Education Loan Counsellor

Frequently Asked Questions

The max. education loan amount offered by ICICI Bank is INR 40 Lakhs without collateral and INR 1 Cr. with collateral.
The tenure of an ICICI education loan ranges between 5 to 10 years.
Tuition fees and on-campus housing fee is transferred to the university, whereas other living expenses are transferred to the borrower’s account.
For loans up to INR 20 Lakhs, margin is NIL. Above INR 20 Lakhs, margin is 15% for ICICI.
Yes, education loans from ICICI Bank have tax benefits.
No, there is no prepayment penalty on ICICI Bank education loans.

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ICICI Education Loan Reviews - Student's Speak

Aditya Mishra

Team is doing really good work. I would be appreciated if there’s quicker response to queries so that the process is even smoother. You are doing a great job!

Rohit Dhanda

I got immense help from Krishna Dutta from Gyan Dhyan. He listened to all my queries and provided genuine help in all matters. Because of such support, I would recommend GD to fellow mates. However, I suggest GD team to be part of all communication between applicant and Banks.

Mohammad Shabaz Malik

Everything would be fine your team regular follow up with me regarding any concerns , please continue your work it would help students like me who are facing issue for applying Education loan

Upcoming Events

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  Fri, June 02, 2023    18:00 IST

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  Fri, June 09, 2023    18:00 IST

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  Fri, June 16, 2023    18:00 IST

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