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ICICI Bank Education Loan

ICICI Bank Education Loan helps a student to cover a number of expenses related to his studies. The education loan will meet the entire course fee and various other supplementary expenses like study materials, boarding or lodging expenses. To get ICICI Bank education loans, students are required to produce a letter issued by the institution confirming the admission and course fee of the student. ICICI Bank offers the best possible interest rates with their education loan terms.

ICICI Education Loan Amount

It is advisable for the students to closely study the eligibility conditions of the loan term before making their application. Eligible applicants can get a minimum education loan amount of Rs 50000 - Rs 400000 for studying abroad or inside India. The bank offers an affordable education loan interest rate of about 13% depending on the loan amount and the repaying ability of the borrowers. The education loan plan can be obtained to cover a number of expenses that include;
  • College and Hostel fees
  • Examination, library and laboratory fees
  • Buying equipments, books and instruments
  • Caution deposit and building fund
  • Passage and travel expenses
  • Purchase computer, etc.

How to Apply

Students can apply for education loan at the nearest ICICI branch that distributes loans in their area. The bank requires a letter from ICICI Prudential which confirms that the students will be absorbed under payroll of the company after the successful completion of their education course. The parent or guardian of the applicant will act as the co-applicant for the loan. The following are some of the mandatory documents to be submitted at the time of submitting the application form;
  • Duly filled loan application form
  • Confirmation letter from the institute
  • Confirmation letter from ICICI Prudential Life Insurance
  • ID proof (driving license/Pan Card or passport)
  • Permanent residence proof (Ration card/utility bill)
  • Signature proof (driving license/passport/Pan Card)
  • Qualification proof (Marksheets of 10th, 12th and graduation)
Certain documents of the co-applicants such as earning proof, ID proof, permanent address, signature proof and latest bank statement are required to be submitted at the time of application. For more details on moratorium period and monthly installments visit the loan page of the official ICICI website.
ICICI Bank offers a number of loan options for different types of borrowers having unique financial status. Check the eligibility conditions for different loan types.



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