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    Get an Education Loan of up to ₹ 3 Crore

    Planning for Higher Education? Get hassle free loan from ICICI Bank of up to ₹3 crore to fund your education. Manage your loan effortlessly with a completely digital journey, quick approvals, no collateral options and flexible repayment methods. Apply online now and confidently step towards your academic goals.

    Education Loan Interest Rates 

    Interest Rates Information

    [REPORate + 3.75%(Spread)] onwards


    For courses in India: Up to ₹ 1 crore
    For courses abroad: Up to ₹ 3 crore

    Unsecured Loan Amount – Up to ₹ 1 Crore 

     

    Education Loan Eligibility

    Particulars Eligibility
    Nationality

    Indian

    Age

    Minimum - 16 years and 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

    Mandatory documents for an Education Loan

    Student/ Applicant

     Proof of Identity/ Proof of Current Address (Any 1)

    (Aadhaar Card, Voter ID, Driving Licence, etc.)

    Education Related Documents:

    • Academic Documents

       (Marksheets, Degree Certificates, Entrance Scores, etc.)

    • Admission Proof

       (Acceptance letter, Confirmation of Acceptance, I20 [for USA], etc.)

    Co-applicant

     Proof of Identity/Proof of Current Address (Any 1)

    (Aadhaar Card, Voter ID, Driving Licence, etc.)

    Financial Documents

    • For Salaried (Salary slip, Bank statement, etc.)

    • For Self-employed (ITR, GST, Bank statement, etc.)

    Security/Collateral (if applicable)

    • Fixed Deposit certificate with ICICI Bank

    • Loan Number of existing Home Loan/Mortgage Loan with ICICI Bank

    • For Residential/Commercial Property: Registration Certificate, Builder/buyer agreement, Layout plan, Possession letter, etc.

    Steps to Avail Home Loan

    Why choose ICICI Bank for Education Loans?

    Flexible repayment options
    Flexible repayment options
    Zero margin for selected Institutes
    Zero margin for selected Institutes
    Loan tenure up to 15 years
    Loan tenure up to 15 years
    No foreclosure charges
    No foreclosure charges
    Complete digital journey
    Complete digital journey
    Competitive interest rates.
    Competitive interest rates.

     

    How to Apply For an Education Loan

    ICICI Bank Branch

    ICICI Bank Branch

    Visit any ICICI Bank Branch, fill the form and get started with your Loan approval process

    Apply online

    Apply online

    Loans offered for studies at Domestic and International Institutes. Courses covered: Undergraduate/Postgraduate

    VidyaLakshmi portal

    VidyaLakshmi portal

    To apply for Education Loans through the VidyaLakshmi portal, Know More 

    Click here

    Instant Education Loan

    Instant Education Loan

    Existing ICICI Bank customers can check their eligibility for instant sanction of a student loan without the hassle of any paperwork.

    eNACH

    The NACH e-Mandate system facilitates the registration and confirmation of mandates issued by customers electronically.

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

    To create an e-Mandate, click here.

    To track the status of an e-Mandate, click here.

    Education Loan FAQ

    Expand All | Collapse All

    What is an Education Loan?

    An Educational Loan assists students in funding their studies by covering expenses such as tuition fees, books and other educational costs.

    Who can apply for an Education Loan?

    Students who have secured admission in National Assessment and Accreditation Council (NAAC) accredited Universities/Institutions, National Board of Accreditation (NBA) recognised professional courses, Centrally Funded Technical Institutes or all other recognised International Universities/Institutions can apply for an Education Loan.

    How can I apply for an Education Loan?

    You can apply through our website or you can visit any ICICI Bank branch or apply through the VidyaLakshmi portal link.

    What is the interest rate on an Education Loan?

    Interest rates vary based on the type of loan (Secured/Unsecured), Applicant/Co-applicant’s profile, Institute/College category and type of course.

    What is an EMI Calculator?

    An EMI Calculator helps estimate payments and effectively plan finances. It serves as a support system for students looking to pursue higher education in India or abroad.

    When does loan repayment start?

    You can start as late as only after your course is over. Moreover, we provide flexibility in repayment during your course period as well.

    What is the repayment tenure?

    Repayment tenure is up to 15 years (including the course period), depending on the loan amount and terms.

    Can I pre-pay or pre-close the loan? Are there any charges?

    Yes, you can pre-pay or pre-close your loan any time during the tenure. There are no pre-payment or foreclosure charges.

    Who is considered eligible as the Co-applicant?

    Parents, Siblings, Spouse, Father-in-law, Mother-in-law, Daughter-in-law, Maternal and Paternal Uncle/Aunt and Grandparents are eligible to be your Co-applicant.

    Is collateral required for an Education Loan and what can be provided as collateral?

    Collateral will be required for Secured Loans only. Collaterals accepted as security are Fixed Deposits, Property: Residential/Commercial or an existing Home/Mortgage Loan with ICICI Bank.

    VIEW MORE

    Education Loan Blogs

    Student Loan For MBBS - Loan up to 2 Crore

    Education Loan for MBBS - Eligibility, Interest Rate & How to Apply
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    Education Loan for Abroad : Know Interest Rate, Eligibility & Documentation
    10 Months Ago
    Education Loan for MBA

    Education Loan for MBA: Eligibility, Interest Rate & How to Apply

    10 Months Ago
    Documents Required for Education Loan

    What are the Documents Required for Education Loan
    10 Months Ago
    What is an education loan, and how does it work?

    What is an education loan, and how does it work?
    3 Years Ago

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