Education Loan Benefits and features

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Benefits and features

	UG - domestic and international	PG - 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 facility	Minimum	Maximum	Mean
Education Loan –iSMART interest rates	11.25% per annum	14.60% per annum	12.29% per annum

Note:

Terms and Conditions apply

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

Disclaimer

*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).