Education Loan Benefits

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.

Interest rate Starting at 10.50 %* per annum Starting at 10.75 %* per annum
Loan tenure Up to 8/10 years for Under Graduate post course period + 6 months
Up to 10/12 years for Post Graduate post course period + 6 months
Maximum loan amount Up to Rs 50 lakhs for domestic courses
Up to Rs 1 crore for international courses
Collateral requirement Exceptional collateral can be accepted in the form of Fixed Deposit, Fresh Property, Cross collateralization with existing Mortgage loans
Unsecured Loan requirement Unsecured loan for selected institutes : Up to 20 lakhs for UG & up to Rs 40 lakhs for PG courses **
Moratorium period As per the course and institute.
Margin No margin for premier institutes
No margin up to Rs 20 lakh for other category of institutes
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 April 2021 to June 2021 :

Type of credit facilityMinimumMaximumMean
Education Loan –iSMART interest rates 8.75% per annum 12.25% per annum 11.32% 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 4% as on Dec 1, 2020.


Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualised credit cost which includes interest rate and processing fee.

The APR calculator does not include charges such as prepayment charges, etc.

To calculate the same, please click here to download the APR calculator.


  • 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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