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Education Loan Interest Rate
Interest Rate Information
9.50%* 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
Particulars Eligibility
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

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


Why ICICI Bank for Education Loan?