Education Loan Interest Rate

Interest RateInformation
10.50% onwards For courses in India: Up to Rs 50 lakh
For courses abroad: Up to Rs 1 crore
Education Loan eligibility

ParticularsEligibility
Nationality Indian
Age Minimum- 18 years Maximum- 35 years
Academic record Proven - good
Qualification Pursuing graduate/postgraduate degree or a PG diploma.
Income source Parents/Guardians
Income stable
University applied to Recognised – In India/Abroad
Admission Status confirmed
Security Tangible collateral or guarantor- depending on the loan amount and income source.
Required Documents

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

  • Duly filled and signed application form with affixed photographs
  • 2 photographs of passport size
  • Copy of exam mark sheets of 10th/12th or latest education certificate
  • Statement of course expenses/cost of study
  • 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

Rental agreement/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

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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