Education Loan Interest Rate

Interest RateInformation
9.25% onwards For courses in India: Up to Rs 1 Crore
For courses abroad: Up to Rs 2 crore
Unsecured Loan Amount – Up to Rs 50 Lakh*
Education Loan eligibility

ParticularsEligibility
Nationality Indian
Age Minimum- 16 years Maximum- 35 years
Academic record Proven - good
Qualification 12th Std
For Pursuing Graduate / Postgraduate Degree or a PG diploma in professional Education.
University applied to Listed and Recognized and Accredited Institutes in India and Overseas
Admission Status Pre- admission sanction / Basis entrance exam score like GRE,GMAT etc./ Confirmed
Loan Amount Domestic – Upto Rs 1 crore
International – Upto Rs 2 crore
Co-Borrower Father, Mother, Brother, Sister, Spouse (Husband/Wife), Grand Parents, Parents in law, Brother in law, Maternal/Paternal Uncle.
Security Property i.e. House or Flat, FD –Fixed Deposit, Existing ICICI Bank Home Loan for cross collateral.
Required Documents

Here are the mandatory documents that a student need to provide to the banks while applying for a student loan:

  • Duly filled online iLENS application form with affixed photographs
  • 2 photographs of passport size
  • Copy of exam mark sheets of 10th/12th or latest education certificate
  • Admission letter with cost of education
  • Aadhaar Card and Pan Card of the student and Parent/ Guardian

Age proof

Copy of Aadhaar Card /Voter ID/Passport/Driving License

Identity proof

Copy of Voter ID/Aadhaar Card/Driving License/Passport

Residence proof

Bank statement of 6 months of the student or co-borrower/guarantor/Copy of Ration card/Gas Book/Electricity Bill/Tel Bill

Income proof

  • Most recent salary slips or Form 16 of the parent/ guardian/co-borrower
  • 6 months bank statement of the borrower or updated passbook of bank
  • Updated ITR (Income Tax Return with income computation) of 2 years or IT assessment order of last 2 years of parent/co-borrower/guardian
  • Documents stating the assets and liabilities of the parent/co-borrower/guardian

The NACH e-Mandate system facilitates the issuance and confirmation of mandates made by customers through alternate modes to a paper-based mandate.

Note: The mandate will be routed by the destination bank, after due authentication, to the sponsor bank or by corporate through their sponsor bank to the destination bank with the attributes of customer authentication depending upon the variant of e-Mandate.

To create e-mandate, https://leads.icicibank.com/NewSalesWeb/loadNpciEnachForm.htm?productCode=CF

To track the status of e-Mandate https://leads.icicibank.com/NewSalesWeb/loadenachTracker.htm

Institutes


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Why ICICI Bank for Education Loan?

How to Apply
ICICI Bank presents education loans up to Rs 50 lakh for your educational requirements in India and up to Rs 1 crore for overseas.





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