If you want to take Student Loan, then this article is for you, any student can take an education loan to meet any expenses related to his education. Many banks give you education loans like SBI, BOB, HDFC ETC, but today we will talk about ICICI Bank.
What are the interest rate, eligibility, and documents of this loan, and how can we apply for this loan?
This ICICI Education Loan is offered to students aspiring to pursue higher education in colleges recognized by UGC, AIBMS, ICMR, and AICTE in several disciplines. ICICI provides attractive interest rates, flexible repayment, and loan tenures to those wanting to study abroad in their chosen field of interest. That’s why you read this article till the end.
ICICI Education Loan Interest Rate 2022
Get all types of detail of Education Loan ICICI Bank Interest Rate very easily and get your loan amount in your account. If you find a low-interest rate education loan so don’t worry ICICI bank’s education loan interest rate is very low compared to other banks just find the education loan interest rate in ICICI bank and show all the complete detail about loan interest rate. So don’t miss out apply now and continue your education without any hassle.
Read More: HDFC Education Loan Interest Loan
|Loan Name||ICICI Bank|
|Interest Rate||Starting from 10.50% p.a.|
|Up to 8/10 years + 6 months (undergraduate post course) Up to 10/12 years + 6 months (post graduate post course)|
|Loan Amount||For Indian education – Up to Rs. 50 lakhsFor foreign education – Up to Rs. 1 crore|
|processing fee||1% of the processing loan amount + Tax|
ICICI Education Loan Eligibility Criteria 2022
Eligibility for Indian Education:
- The co-applicant must be an Indian citizen.
- The age of the applicant should be between 16 to 35 years.
- The student should have passed the entrance examination/entrance examination in recognized institutions in India or abroad.
- The student should have completed the 12th class
- Confirmation of admission to colleges before disbursement
ICICI Bank Education Loan Documents Required
Before applying for an Education Loan, you should keep all your documents together so that whenever the bank asks you for documents, you can immediately show them all the documents which documents required for an education loan in ICICI bank
- Address proof
- Identification card
- Application form
- Passport-size photographs
- Admission Letter
- Income proof of the guarantor
- Collateral Security
- 10th and 12th mark sheets
- Latest 6 Months Bank Statement of the Salary Account.
Read More: SBI Global ED Vantage scheme
Benefits and Features of ICICI Education Loan
- You can take a minimum loan of RS. 1 lakh
- Exceptional collateral can be accepted as fixed deposits, new assets, or cross collateral with existing mortgage loans.
- Loan amount under unsecured loan – Up to RS. 20 lakh for UG courses and Up to RS. 40 lakh for PG courses.
- Tax Benefits on Education Loans
- Students can also get this loan without collateral (ICICI Bank Education Loan without collateral).
- You can easily apply for this loan through the bank’s internet banking facility.
- You can apply for loans online and offline mode.
ICICI Bank Education Loan Online Application
- You have to go to the website https://www.icicibank.com/
- On the home page of the website, the option for education loan, click on it.
- All the information related to education loans will come in front of you, read this information correctly.
- You have to click on the option of Apply Now.
- A new form will open in front of you
- All the information needed in the form you have to enter correctly and submit the form.
- After that, the ICICI bank employees will contact you and the loan process will continue.
How to apply for student loan offline
- You have to go to your nearest ICICI Bank branch.
- A bank employee has to be contacted you.
- The employee will provide you with all the information related to a student loan.
- After that, your documents will be verified.
- Then you have to fill out an application form.
- Attach your documents with the loan application form and submit it to the bank there.
- In this way, your application will be made.
ICICI Bank Education loan interest rate is 9.50% per annum
HDFC Bank 9.55% to 13.25%
SBI Bank 7.50% onwards
Axis Bank 13.70% to 15.20%
Bank Of Baroda 7.95% onwards
Federal Bank 11.45% onwards
PNB Bank 8.15% onwards
Two types of ways to apply for icici education loan
Firstly you can visit the nearest branch and fill out the all form with complete detail and the loan approval process.