Education Loan

Benefits and features

  • Loans up to Rs 1 crore
  • No margin money required for loans up to Rs 20 lakh
  • Other expenses like student exchange travel expense, laptop also covered
  • Pre-Visa disbursal for students applying for overseas education
  • Preferential forex rates for international disbursements.

 UG - domestic and internationalPG - domestic and international
Interest rate Starting at 11.75%* per annum Starting at 11.25%* per annum
Loan tenure without collateral Up to 5 years post course period + 6 months Up to 8 years post course period + 6 months
Loan tenure with collateral Up to 7 years post course period + 6 months Up to 10 years post course period + 6 months
Maximum loan amount Up to Rs 50 lakh for domestic courses
Up to Rs 1 crore for international courses
Collateral requirement As per the institute. Collateral-free loans for select institutes: Up to Rs 20 lakh for UG and up to Rs 40 lakh for PG courses.
Moratorium period As per the course and institute.
Margin No margin up to Rs 20 lakh.
Ranging from 5% - 15% margin for loans above Rs 20 lakh (Margin can be FD/scholarship/initial fee paid to the institute)

Interest rate range for Education Loans for the period April 2019 to June 2019:

Type of credit facilityMinimumMaximumMean
Education Loan –iSMART interest rates 11.25% per annum 14.60% per annum 12.29% per annum


  • Mean rate = Sum of rate of all loan accounts/number of all loan amounts
Terms and Conditions apply

Fees and Service Charges

Please click here to know more about fees and charges applicable for ICICI Bank Education Loans.


*Interest rates will vary basis the institute category and course.

Processing fee applicable is 1% of loan amount plus applicable taxes.

Policy Repo Rate (RR) is 5.15% as on Oct 04, 2019.


  • Should be an Indian national
  • Secured admission/ invite from university in approved university/ college in degree/ diploma course
  • Education: Should have completed 10+2 (12th standard).


  • KYC
  • Mark sheets of 10th, 12th, graduation and entrance exams
  • Admission letter
  • Fee structure
  • Co-applicant KYC and income proof*
  • Additional documents may be requested in case of collateral required

*Co-applicant income proof required only for specific courses.

Accepted Security/ Collateral:

  • Residential/ commercial property/ plots (Non-agricultural)
  • Fixed deposits.


Terms and Condition applied

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