Instant Education Loan Without Collateral

Education Loan Sanction Letter on a Click Now. Instant Education Loan, a pre-approved Education Loan offer for ICICI Bank customers without the hassle of any paper work.

This facility significantly improves customers’ convenience as they are no longer required to visit any branch multiple times to get their sanction letter. Now, they can generate the final sanction letter themselves with just few clicks through digital channels of the Bank like Internet banking facility.

While you plan to finalise your admission in your dream University, you can also generate your sanction letter in just a few clicks, from the comfort of your home and know about financing your studies.

Some of the key benefits:

  • Pre Approved Instant Sanction: Customers get access to instant sanction letter online from the comfort of their home for their Pre Approved Education Loan.
  • Loan Amount Without Collateral: Unsecured Loan amount Up to Rs 50 Lakhs
  • Tax benefits: Education loan comes with a tax benefit under SEC(80E) for complete interest paid (100%), without any upper limit. This benefit brings down the effective rate of interest. Check details on Tax Benefit Calculator.
  • Wide range of loan amount: Minimum loan amount is Rs. 1.0 lakh for both international and domestic education loans. Maximum loan amount is Rs. 1 crore for international and Rs. 50 lakh for domestic education loan.
  • Ease in applying: Customers can apply for education loan through internet banking facility of the Bank with just a few clicks.
  • Turnaround time: This instant facility brings down the time for Education Loan sanction from a few days to a few minutes

How to check your offer:

  • Log into Internet Banking
  • Check your offer under the pre-qualified offers, select Education Loan and click on Instant Sanction
  • Next, fill in the required details and customise your loan as per your need.
  • Agree to the terms & Click on Submit
  • Enter the OTP to initiate the payment of the Processing Fee and click on Pay now
  • Your pre-approved loan will be sanctioned in a minutes

Frequently Asked Questions (FAQs) for Insta Education Loan

What is Insta Education Loan?


A facility that enables customers get access to instant sanction letter online from the comfort of their home. Without visiting branch multiple times or meeting any personnel.

Why Insta Education Loan?


Sanction letter from Banks is accepted for VISA application and as a source of fund for the student’s admission confirmation at overseas Universities and to get their I-20 for studying in USA. With this facility, aspiring students get a financial proof in sanction letter instantly with ICICI Bank.

Who can avail Insta Education Loan without collateral?


ICICI Bank customers who have Pre Approved offer with the Bank, and are applying for higher studies in universities abroad or in domestic universities.

What are the Benefits of Insta Education Loans without Collateral?


  1. Very Competitive Rate of Interest starting from 9.25%*
  2. Tax benefits: Education loan comes with a tax benefit for interest paid without any upper cap for 100% of the amount. Link to the calculator
  3. Turnaround time: This instant facility will bring down the turnaround time for getting the sanction letter from around 15 – 45 days to merely some minutes with few clicks.
  4. Seamless remittance to international institutes
  5. GIC for Canada
  6. BLOCK Account for Germany

*Rate of Interest Linked to Repo Rate and for Premier Institutes and Specific Customer segment

What is the amount that can be sanctioned?


Minimum loan amount is Rs. 1.0 lakh for both international and domestic education loans. Maximum loan amount is Rs. 1 crore for international and Rs. 50 lakh for domestic education loan.

How can I apply for a Pre-approved loan?


You can apply through ICICI Bank Net Banking.

How much time does it take to generate a Sanction Letter?


Instant loans are pre-approved loans and require a very few steps and some clicks to complete the process. Post which the sanction letter is received on registered email ID.

Do I need security to avail of Insta Education Loan without collateral?


From Rs 20 Lakh and Up to Rs 50 Lakhs No Security or Collateral required.

Steps to Avail the Insta Education Loan on ICICI Net Banking


Customers can avail the loan in a few simple steps as below:

  • Log in to internet banking platform and check the pre-approved offer
  • Customer has to enter details like loan amount, repayment tenure, institute name, cost of study and click on ‘Display Offer Eligibility’
  • Customer to enter details of student like name, date of birth and relation with student
  • Customer to check the final offer, read terms & conditions, authenticate via OTP and pay the processing fees to generate sanction letter
  • Post which, provisional sanction letter will get generated and will be sent to the registered email ID along with details of the designated relationship manager

How Can I Get the Disbursement of my Sanction Loan Amount?


The final disbursement of the loan amount will be initiated post collection of all required documents, signatures and formalities of the Bank, any pending KYC, submission of hard copies of admission letter and financial documents. Customers can visit nearest bank branch or get in touch with the designated relationship manager from the Bank for submission of all the documents.

Lead Page Fields -

  1. Name
  2. Location
  3. Contact number
  4. New/Old Customer
  5. Email ID
  6. Institute name – Open field
  7. Course
  8. Country of Institute
  9. Loan Amount

USPs -

  • Education Loan Without any Collateral Security
  • Instant sanction at the Click of Button
  • No Visit to any Branch or Office, from comfort of your Home.
  • No Breaking of your FD’s or Savings
  • No Mortgage of House or Property for Loan
  • Unlimited Tax benefits on Interest Paid up to 100% of Interest Paid.
  • Maximum loan amount of Rs 1 crore

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