With no prepayment fees and no pre-closure fees, ICICI bank offers one of the best education loans for studying abroad. ICICI bank provides a variety of credit products tailored to meet its customers' many different needs. ICICI Bank understands students' needs and offers highly competitive loans for education at better interest rates.
Loan Margin: NIL
Processing Fees: 1.0% onwards

ICICI Bank was established in 1994 and is a leading Indian private sector bank. ICICI provides various credit products and banking and financial services, formatted to meet various consumer needs. The bank understands the career ambitions of students. It has structured its ICICI overseas education loan so that each student is successfully supported in his/her path to the future. These loans encourage students to realize their dream of achieving a world-class education in premier institutions abroad with a collateral-free loan of up to Rs.40 lakh, tax savings on interest paid u/S 80(E), adjustable tenure and repayment options, and competitive ICICI Bank education loan interest rates.

Features Of ICICI Bank Abroad Education Loan

Sr. NoFeaturesEducation Loan Details
1Loan amount₹1,00,00,000.00 (Collateral) ₹40,00,000.00 (Without Collateral)
2Margin moneyNo margin for premier institutes No margin up to Rs 20 lakh for other category of institutes Ranging from 5% - 15% margin for loans above Rs 20 lakh
3Processing fee1.0% onwards
4Processing time7 Days
5Loan tenure12 Years
6Prepayment chargesNil
7Repayment holidayCourse + 6 Months
8Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others
9Payment study periodRepayment during the study period mandatory, partial repayment options available depending on the target course and institute.

Benefits of ICICI Bank Abroad Education Loan

1. No fees or limitations on the part of the ICICI Bank education loan or prepayment abroad. 2. Travel for student exchange, equipment such as computers, etc., and such expenses were also included. 3. Also available is the Pre-Visa option. 4. Preferential forex rates for students who use the ICICI Bank education loan for studies abroad. 5. Speedy disbursal. 6. Loan for applicants with 3+ years of experience without a co-applicant for a PG course. 7. The tax advantage of the IT Act, 19611 on interest charged u/S 80(E).

Benefits Of Getting Your ICICI Bank Abroad Education Loan Through UniCreds

Low Time Turnaround
In just a week, UniCreds will get the ICICI education loan approved.
Doorstep Service
Someone will visit your home to pick up documents for ICICI Education Loans. To get your loan approved, you need not go to any branch.
No Cost to You
Our services are completely free for applicants. We do not charge the applicants any processing fees or commissions at all.
Higher Chances of Approval
We approach ICICI officials immediately to find solutions in the event of any lost records or any roadblocks. This guarantees the quick resolution of problems and dramatically improves your approval chances.

Eligibility Criteria For ICICI Bank Abroad Education Loan

Sr. NoTypeRequirement
1Eligibility-1 The aspiring student needs to be an Indian national. 2 The prospective student should have obtained admission or invitation to an accredited institution or from the university. 3 The prospective student should have cleared 12th standard, (10+2).

Documents Required for ICICI Bank Abroad Education Loan

For ICICI Education loans, we provide a customized document list that depends on your profile, your co-applicant profile, and any property/asset that you may offer as collateral. The following documents are required at a high level:

Sr. NoTypeDocuments Required
1Documents of the applicant-1. Proof of Identity 2. Address 3. Academic Record History
2Documents of the Co-Applicant1. Proof of Identity 2. Address 3. Financial Record History

How To Apply For ICICI Bank Abroad Education Loan?

1. Apply online and upload all the needed documents. 2. Processing and approval is done. 3. Free doorstep document collection initiation. 4. Loan sanction and its disbursal

Frequently Asked Questions

What type of interest is applicable on my loan? Simple or compounded?
Simple interest will be calculated on your loan.