ICICI Bank Education Loan
Get Free Education Loan Assistance
Starting @ 11.5%
1% + GST
Overview : ICICI Education Loan Online
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.
Features and Benefits
Features of ICICI Ban Education Loan
|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|
- No charges or restriction on part or prepayment of ICICI Bank education loan abroad.
- Student exchange travel, equipment like laptops, etc. and such expenses also included.
- Pre-Visa option is also available.
- Preferential forex rates offered to students availing ICICI Bank education loan for abroad studies.
- Quick disbursal.
- Loan without co-applicant for PG course for applicants having 3+ year of experience.
- Tax benefit on interest paid u/S 80(E) of the IT Act, 1961
Low Turnaround Time
GyanDhan gets the ICICI education loan approved in just 7 days.
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.
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:
- Identity Proof
- Past Academic Record
Co-Applicant’s Documents Pertaining to:
- Identity Proof
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.
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!
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