{"id":29266,"date":"2023-12-04T22:39:47","date_gmt":"2023-12-04T17:09:47","guid":{"rendered":"https:\/\/test-blog.unicreds.com\/blog\/?p=29266"},"modified":"2025-09-29T19:45:12","modified_gmt":"2025-09-29T14:15:12","slug":"icici-bank-vs-credila-education-loan","status":"publish","type":"post","link":"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/","title":{"rendered":"ICICI Bank Vs Credila Education Loan"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#ICICI_Bank_Vs_Credila_Education_Loan\" >ICICI Bank Vs. Credila Education Loan<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#ICICI_Bank_Vs_Credila_Education_Loan_%E2%80%93_Non-Collateral_Options\" >ICICI Bank Vs Credila Education Loan &#8211; Non-Collateral Options<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#Key_Advantages_Of_ICICI_Bank_Vs_Credila_Education_Loans\" >Key Advantages Of ICICI Bank Vs Credila Education Loans<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#ICICI_Bank_Vs_Credila_Education_Loan_%E2%80%93_Which_Is_Better\" >ICICI Bank Vs Credila Education Loan &#8211; Which Is Better?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#Additional_Tips_Tricks_To_Secure_An_Educational_Loan_With_Best_Possible_Deal\" >Additional Tips &amp; Tricks To Secure An Educational Loan With Best Possible Deal<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"bsf_rt_marker\"><\/div>\n<p><\/p>\n\n\n\n<p>Planning for higher education requires careful financial consideration, and selecting the best bank for an education loan is crucial. This blog compares the education loan offerings of ICICI Bank Vs. Credila aims to guide you in making an informed decision. We\u2019ll explore features, benefits, and considerations to help you choose a loan that suits your academic goals and financial requirements.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Key Takeaways:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The maximum loan amount of ICICI Bank and Credila is Rs. 1 Crores and 1.5 Crores respectively.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Credila charges a 9.50% interest rate whereas ICICI Bank charges a 9.85% interest rate.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You need to be an Indian National to apply for an education loan through both banks.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can avail of tax benefits under Section 80 E by applying for an education loan through any of the given banks.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Credila helps your loan get insured with its Credit Protect Credila Life scheme.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICICI_Bank_Vs_Credila_Education_Loan\"><\/span><strong>ICICI Bank Vs. Credila Education Loan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>Both ICICI Bank and Credila are private banks in India. They are two of the largest and most reputable private banks in the country, and they both offer a wide range of financial products and services, including education loans. In addition to competitive interest rates and flexible repayment options, both ICICI Bank and Credila offer a variety of other benefits to education loan borrowers.\u00a0<\/p>\n\n\n\n<p>Let\u2019s compare ICICI Bank Vs Credila <a href=\"https:\/\/unicreds.com\/abroad-education-loan\" target=\"_blank\" rel=\"noreferrer noopener\">Abroad Education Loan<\/a> with regards to their key features in the following table &#8211;\u00a0<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Features<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>ICICI Bank Abroad Education Loan<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Credila Abroad Education Loan<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Maximum Loan Amount<\/td><td class=\"has-text-align-center\" data-align=\"center\">Up to Rs 1 crore&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">Up to Rs.150 lakhs<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Interest Rates<\/td><td class=\"has-text-align-center\" data-align=\"center\">9.85%<\/td><td class=\"has-text-align-center\" data-align=\"center\">9.50%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Processing Fees<\/td><td class=\"has-text-align-center\" data-align=\"center\">NIL<\/td><td class=\"has-text-align-center\" data-align=\"center\">NIL<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Tax Benefits<\/td><td class=\"has-text-align-center\" data-align=\"center\">Section 80E<\/td><td class=\"has-text-align-center\" data-align=\"center\">Section 80E<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Co-borrower Option<\/td><td class=\"has-text-align-center\" data-align=\"center\">Yes<\/td><td class=\"has-text-align-center\" data-align=\"center\">Yes<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Repayment Tenure<\/td><td class=\"has-text-align-center\" data-align=\"center\">8-10 Years (Under Graduate)<br>10-12 Years (Post Graduate)<\/td><td class=\"has-text-align-center\" data-align=\"center\">Up to 15 Years<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Moratorium Period<\/td><td class=\"has-text-align-center\" data-align=\"center\">6 months<\/td><td class=\"has-text-align-center\" data-align=\"center\">1 year after educational course completion&nbsp;<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Courses Covered&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">Under Graduation &amp; Post Graduation<\/td><td class=\"has-text-align-center\" data-align=\"center\">Under Graduation &amp; Post Graduation Courses<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<div style=\"text-align: center;\">\n    <button style=\"background-color: #289048; color: white; border: none; padding: 10px 20px; border-radius: 5px; font-size: 18px; font-weight: bold;\">\n    <a href=\"https:\/\/unicreds.com\/get-expert-assistance?utm_source=uc-blog&amp;utm_medium=organic&amp;utm_campaign=seeking-for-education-loan-button\" target=\"_blank\" style=\"text-decoration: none; color: white;\" rel=\"noopener\">Seeking an Education Loan? Get Free Consultation<\/a>\n<\/button>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>Overall, ICICI Bank and Credila are both excellent options for students who are looking for an education loan. Now let\u2019s take a look at the eligibility criteria of both banks.\u00a0<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICICI_Bank_Vs_Credila_Education_Loan_%E2%80%93_Non-Collateral_Options\"><\/span>ICICI Bank Vs Credila Education Loan &#8211; Non-Collateral Options<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ICICI Bank Non-Collateral Education Loan Option-&nbsp;<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ICICI Bank offers education loans for studying abroad with a maximum amount of 2 crores for collateralised loans and up to 50 lakhs for non-collateralised loans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Non-collateral or unsecured loans have a limit of 50 lakhs. Accepted co-applicants include family members such as parents, siblings, and spouses.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Interest rates range from 12% to 14% for non-collateral loans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Credila Non-Collateral Education Loan Option<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Credila provides an education loan without collateral, offering up to Rs. 20 lakhs.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>However, this is not a universal offering; eligibility is determined based on various factors, and it is exclusively granted to talented and deserving students.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In comparison, most banks provide education loans without collateral up to Rs. 4,00,000, whereas Credila extends the limit up to Rs. 7,50,000 for courses in India and Rs. 15 \u2013 35 lakhs for courses abroad.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<a href=\"https:\/\/unicreds.com\/abroad-education-loan\" class=\"lead-cta-main\">\n  <div class=\"lead-cta-main-text\">\n    <p>ICICI Bank or Credila &#8211; Which loan suits you better?<\/p>\n    <p>Let UniCreds help you compare and choose the right abroad education loan.<\/p>\n  <\/div>\n  <div class=\"lead-cta-main-btn\">\n    <button>\n      <div>Apply For Loan<\/div>\n    <\/button>\n  <\/div>\n<\/a>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ICICI Bank Vs Credila Education Loan Eligibility Criteria\u00a0<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>Every bank has different eligibility criteria for education loans. Yet somewhere it is a bit similar. Let\u2019s compare ICICI vs Credila&#8217;s <a href=\"https:\/\/unicreds.com\/tools\/education-loan-eligibility\" target=\"_blank\" rel=\"noreferrer noopener\">education loan eligibility criteria<\/a> in the table below-\u00a0\u00a0<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Eligibility Criteria<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>ICICI Bank<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Credila<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Nationality<\/td><td class=\"has-text-align-center\" data-align=\"center\">Indian<\/td><td class=\"has-text-align-center\" data-align=\"center\">Indian<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Age bracket<\/td><td class=\"has-text-align-center\" data-align=\"center\">16-35 Years<\/td><td class=\"has-text-align-center\" data-align=\"center\">16-35 years<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Academic Record<\/td><td class=\"has-text-align-center\" data-align=\"center\">Proven-Good<\/td><td class=\"has-text-align-center\" data-align=\"center\">Proven Good<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Qualification<\/td><td class=\"has-text-align-center\" data-align=\"center\">10+2&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">10+2&nbsp;<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Co-borrower<\/td><td class=\"has-text-align-center\" data-align=\"center\">Parents\/Siblings\/Guardian<\/td><td class=\"has-text-align-center\" data-align=\"center\">Parents\/Guardians<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">University<\/td><td class=\"has-text-align-center\" data-align=\"center\">Listed\/Recognized Institutes of India<\/td><td class=\"has-text-align-center\" data-align=\"center\">Listed\/Premier\/Top Ranked Institutes of India<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Advantages_Of_ICICI_Bank_Vs_Credila_Education_Loans\"><\/span>Key Advantages Of ICICI Bank Vs Credila Education Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>Though both banks are private, <a href=\"https:\/\/unicreds.com\/partners\/icici-bank\" target=\"_blank\" rel=\"noreferrer noopener\">ICICI Bank<\/a> and <a href=\"https:\/\/unicreds.com\/partners\/credila-education-loan\" target=\"_blank\" rel=\"noreferrer noopener\">Credila<\/a> offer different benefits and features. These features can help you save time, give you extra perks, and even help you borrow according to your needs.\u00a0<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Features Of ICICI Bank Education Loan:&nbsp;<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can apply for an education loan through ICICI\u2019s online portal\/net banking portal without having to visit the branch. This complete digitalised process can help you save time and speed up your borrowing journey.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ICICI Bank offers collateral-free loans up to Rs. 1 Crore for premium institutes.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No margin for premium institutes.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The bank accepts exceptional collateral in the form of Fixed Deposits, Fresh Property, and Cross collateralisation with existing Mortgage loans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Documents Required for ICICI Education Loan Application&nbsp;<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>KYC&nbsp;<\/li>\n\n\n\n<li>Marksheets of 12th, graduation, and entrance exams<\/li>\n\n\n\n<li>Admission letter<\/li>\n\n\n\n<li>Fee Structure<\/li>\n\n\n\n<li>Income Proof&nbsp;<\/li>\n\n\n\n<li>Additional documents will be required in case of collateral<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Features Of Credila Education Loan<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Credila offers an online education loan application process too. You just have to create your net banking account or register on their website and get your loan sanctioned in a few clicks.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can get preferential interest rates for top-ranked colleges and universities.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can choose from a wide range of collateral options, including Residential Property, Credila Fixed Deposit, Debt Mutual Funds, Insurance Policies, and NSC \/ KVP.\u00a0<\/li>\n\n\n\n<li>You can also get your loan insured by \u2013 Credit Protect from Credila wherein, the Insurance amount will be a part of the loan amount.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Documents Required for Credila Education Loan Application<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Admission letter from the desired institute or university<\/li>\n\n\n\n<li>Fee Structure<\/li>\n\n\n\n<li>Proof of income<\/li>\n\n\n\n<li>KYC&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>Well, that\u2019s it! Hope this information has solved and cleared your roadmap for securing your education loan from the right bank. Now let\u2019s get to the conclusion.&nbsp;&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div style=\"text-align: center;\">\n    <button style=\"background-color: #289048; color: white; border: none; padding: 10px 20px; border-radius: 5px; font-size: 18px; font-weight: bold;\">\n        <a href=\"https:\/\/unicreds.com\/get-expert-assistance?utm_source=uc-blog&amp;utm_medium=organic&amp;utm_campaign=eligibility-button\" target=\"_blank\" style=\"text-decoration: none; color: white;\" rel=\"noopener\">Check Your Eligibility<\/a>\n    <\/button>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICICI_Bank_Vs_Credila_Education_Loan_%E2%80%93_Which_Is_Better\"><\/span><strong>ICICI Bank Vs Credila Education Loan &#8211; Which Is Better?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>The best bank for your education loan depends on your needs and circumstances. Here are some factors to consider when making your decision:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest rates:<\/strong>&nbsp;Compare the interest rates offered by both banks to find the most competitive deal.<\/li>\n\n\n\n<li><strong>Repayment options:<\/strong>&nbsp;Consider your financial situation and choose the bank that offers flexible repayment options that suit your needs.<\/li>\n\n\n\n<li><strong>Grace period:&nbsp;<\/strong>If you need some time to get back on your feet after graduation, consider a bank that offers a longer grace period.<\/li>\n\n\n\n<li><strong>Specialisation:<\/strong>&nbsp;If you are pursuing a specific type of course, check if either bank offers specialised loans for that course.<\/li>\n\n\n\n<li><strong>Specialisation:<\/strong>&nbsp;If you are pursuing a specific type of course, check if either bank offers specialised loans for that course.<\/li>\n<\/ul>\n\n\n\n<p><strong>Want to know a few more tricks to secure the best education loan ever? Here you go!&nbsp;<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Additional_Tips_Tricks_To_Secure_An_Educational_Loan_With_Best_Possible_Deal\"><\/span><strong>Additional Tips &amp; Tricks To Secure An Educational Loan With Best Possible Deal<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Compare rates and terms from multiple lenders: <\/strong>Don&#8217;t just settle for the first lender you come across. Take the time to compare interest rates, repayment options, and other terms from multiple lenders. This will help you find the loan that best suits your individual needs and budget.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consider a co-borrower:<\/strong> If you have a parent or guardian with a good credit history, consider having them co-sign on your loan. This can help you qualify for a lower interest rate and improve your chances of approval.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Apply for scholarships and grants: <\/strong>Scholarships and grants can be a great way to reduce the amount you need to borrow. Be sure to apply for as many scholarships and grants as you are eligible for.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consider refinancing your loan:<\/strong> If interest rates fall after you&#8217;ve taken out your loan, you may be able to refinance your loan to a lower interest rate. This can save you money over the life of your loan.<\/li>\n<\/ul>\n\n\n\n<p>Hope this blog answered all your questions related to ICICI Bank Vs. Credila education loan. Now that you are reading the last bit of this blog, take some time out to visit <a href=\"https:\/\/unicreds.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">UniCreds<\/a>! We have partnered with multiple prominent players in the market to give you a feasible education loan journey!\u00a0<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>1. Can I avail partial fee as an education loan through ICICI Bank?<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>Yes, you can avail partial fee as an education loan through ICICI Bank.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2. How long do Credila and ICICI banks specifically take to approve education loans?<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>It takes approximately 15-20 days for the loan approval and disbursement.&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>3. Does Credila cover 100% of tuition fees?<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>Yes, Credila covers 100% of tuition fees<strong>.<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>4. How to save tax on education loans through Credila and ICICI Banks?<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>Once you avail of an education loan, the interest paid (which is a component of your EMI) on the education loan is allowed as a deduction under Section 80E of the Income Tax Act, 1961. This deduction is available for a maximum of 8 years or till the interest is repaid, whichever is earlier.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [{\n    \"@type\": \"Question\",\n    \"name\": \"Can I avail partial fee as an education loan through ICICI Bank?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Yes, you can avail partial fee as an education loan through ICICI Bank.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"How long do Credila and ICICI banks specifically take to approve education loans?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"It takes approximately 15-20 days for the loan approval and disbursement.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Does Credila cover 100% of tuition fees?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Yes, Credila covers 100% of tuition fees.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"How to save tax on education loans through Credila and ICICI Banks?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Once you avail of an education loan, the interest paid (which is a component of your EMI) on the education loan is allowed as a deduction under Section 80E of the Income Tax Act, 1961. This deduction is available for a maximum of 8 years or till the interest is repaid, whichever is earlier.\"\n    }\n  }]\n}\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><em>Thanks for reading this blog; If you want to read more such informative blogs; please check out the links below.<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/unicreds.com\/blog\/credila-vs-avanse\/\">Credila vs. Avanse: Education Loans<\/a><\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/unicreds.com\/blog\/hdfc-credila-vs-auxilo\"><strong>Credila vs. Auxilo Abroad Education Loans<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/unicreds.com\/blog\/axis-bank-vs-icici-bank\"><strong>Axis bank vs ICICI bank Abroad Education Loan<\/strong><\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Planning for higher education requires careful financial consideration, and selecting the best bank for an education loan is crucial. This blog compares the education loan offerings of ICICI Bank Vs. Credila aims to guide you in making an informed decision. We\u2019ll explore features, benefits, and considerations to help you choose a loan that suits your [&hellip;]<\/p>\n","protected":false},"author":103,"featured_media":29426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2578],"tags":[2886,32],"class_list":["post-29266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-loan","tag-hdfc-education-loan","tag-student-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICICI Bank Vs Credila Education Loan - UniCreds Blog<\/title>\n<meta name=\"description\" content=\"Discover the differences between ICICI Bank Vs Credila Education Loan key features, interest rates, eligibility, application.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICICI Bank Vs Credila Education Loan - UniCreds Blog\" \/>\n<meta property=\"og:description\" content=\"Discover the differences between ICICI Bank Vs Credila Education Loan key features, interest rates, eligibility, application.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"UniCreds Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-04T17:09:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-29T14:15:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.unicreds.com\/blog\/wp-content\/uploads\/2023\/12\/09143931\/ICICI-Bank-Vs-HDFC-Bank-02.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Aparajita\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aparajita\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/\",\"url\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/\",\"name\":\"ICICI Bank Vs Credila Education Loan - UniCreds Blog\",\"isPartOf\":{\"@id\":\"https:\/\/unicreds.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.unicreds.com\/blog\/wp-content\/uploads\/2023\/12\/09143931\/ICICI-Bank-Vs-HDFC-Bank-02.png\",\"datePublished\":\"2023-12-04T17:09:47+00:00\",\"dateModified\":\"2025-09-29T14:15:12+00:00\",\"author\":{\"@id\":\"https:\/\/unicreds.com\/blog\/#\/schema\/person\/b2e985c67953e49f014c80f6be04bfbe\"},\"description\":\"Discover the differences between ICICI Bank Vs Credila Education Loan key features, interest rates, eligibility, application.\",\"breadcrumb\":{\"@id\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/\"]}],\"hasPart\":[{\"@type\":\"SiteNavigationElement\",\"name\":\"Table of Contents\",\"url\":\"https:\/\/unicreds.com\/blog\/icici-bank-vs-credila-education-loan\/#ez-toc\",\"position\":1,\"hasPart\":[{\"@type\":\"SiteNavigationElement\",\"name\":\"ICICI Bank Vs. 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