Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly

Education Loan Interest Rate

Interest Rate Information
[REPO* + 3.45%(Spread)] onwards For courses in India: Up to Rs 1 Crore
For courses abroad: Up to Rs 2 Crore
            Unsecured Loan Amount – Up to Rs 1 Crore


*Interest rates are linked with Repo rate

Education Loan eligibility

Particulars Eligibility
Nationality Indian
Age Minimum- 16 years Maximum- 35 years
Academic record Proven - good
Qualification Completed 10+2 (12th Standard)/Diploma
For Pursuing Graduation /Postgraduate Degree or a PG diploma in professional Education.
University Applied to Listed,Recognized and Accredited Institutes in India and Overseas  
Loan can be sanctioned on the basis of
  • Pre- admission sanction
  • Entrance exam score like GRE,GMAT etc.
  • 12th/HSC Results
  • Confirmed Admission
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 for Education Loan

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
  • 2 photographs of passport size
  • Copy of 12th standard mark sheet or latest education certificate
  • Admission letter with cost of education if available
  • Pan Card of the student and Parent/ Guardian

Age proof

  • Aadhaar Card /Voter ID/Passport/Driving Licence

Identity proof

  • Voter ID/Aadhaar Card/Driving Licence/Passport

Residence proof

  • Passport
  • Driving License issued by Regional Transport Authority
  • Voter's Identity Card issued by the Election Commission of India
  • Job card issued by NREGA signed by State Government Officer
  • Letter from National Population Register containing details of name and address
  • Proof of possession of complete AADHAR number/AADHAR Card

Income proof

  • Most recent salary slips and Form 16 of the parent/ guardian/ co-borrower
  • Latest 3 months bank statement for non-ICICI Bank customer (Not required for ICICI Bank customer)
  • Updated ITR (Income Tax Return with income computation) of 2 years of parent/co-borrower/guardian.

Note: ICICI Bank reserves the right to call for additional documents at its discretion.

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,

To track the status of e-Mandate


Why ICICI Bank for Education Loan?

Education Loan FAQ

Indian citizens must be 16 to 35 years of age with a good academic record and should have completed 10+2 or diploma. If the applicant is enrolled in a recognised institute in India or overseas, loans are sanctioned based on pre-admission, entrance exam scores, 12th/HSC results or confirmed admissions.

Graduate/Postgraduate/Diploma courses in professional education from recognised and accredited institutes in India and overseas.

Interest rates for Education Loans are linked to RBI Repo Rate and may vary depending on various parameters.

Yes, you can avail partial fee as Loan at any point of time during your studies.

Parents, brother, sister, spouse, father-in-law, mother-in-law, daughter-in-law, maternal and paternal uncle/aunt and grandparents can be your co-applicant.

For postgraduate courses, applicants with 2+ years of experience can apply for a loan with a non-financial co-applicant.

Yes. Scholarship awarded to the applicant from the institute will be considered as margin money.

Simple Interest will be calculated in moratorium period.

Yes, you can pre-pay your Loan any time. There are no charges for pre-payment.

Yes, you can pre-close your Loan any time during the tenure.

You can start repaying any time as soon as the Loan starts.