One of India’s largest private-sector banks, ICICI provides quick turnaround times, unsecured loans up to ₹1 Cr, and value-added services like forex and travel insurance.
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Basic bank details
Maximum Loan Amount
Up to ₹3 Cr
Interest Rate Range
~10.99%–11.25%
Margin Money
0%-15%
Processing Fees
0.5%–1% + GST
Moratorium Period
Course + Up to 12 M
Repayment Tenure
Up to ~12 yrs
Loan Type
Processing Time
3 - 7 days
Loan Repayment Method
Simple Interest
Eligibility Criteria
Indian national with valid identity proof.
Secured admission to an ICICI-approved foreign university (A1, A2, A3, A4 categories or other recognized institutions).
Age 16–35 years at application.
Strong academic history (consistent performance; entrance exam scores like GRE, TOEFL may be considered).
Co-applicant (optional for professionals with 2+ years’ experience): Parent, sibling, spouse, grandparent, in-law, or maternal/paternal uncle with stable income.
For unsecured loans up to INR 1 crore, no collateral needed for premium institutes; secured loans up to INR 3 crore require collateral (property, fixed deposit, or existing ICICI mortgage).
Document Requirement
Identity & address proof: Aadhaar, PAN, passport, voter ID, or driving license.
Academic records: Marksheets, certificates, entrance exam scores (if applicable).
Admission proof: Offer letter or I-20 from university.
Valid student visa and passport copy.
Cost of study breakdown (tuition, living expenses, etc.).
Recent bank statements (if non-ICICI customer).
Identity & address proof: Aadhaar, PAN, voter ID, or driving license.
Income proof: Salary slips (last 3 months), ITR (last 2 years), or bank statements (last 6 months).
Employment verification: Job certificate or business proof (for self-employed).
Collateral documents (for secured loans): Property papers, fixed deposit receipts, or existing ICICI loan details.
Additional Notes:
For professionals (2+ years’ experience) applying for premium institutes (A1/A2), a fixed deposit covering moratorium interest may replace a co-applicant.
ICICI may request extra documents based on profile or course.
Key Features
ICICI Bank stands out for study abroad financing due to its robust features tailored for Indian students:
Generous Funding Limits: Secure up to INR 3 crore for overseas programs, with unsecured options reaching INR 1.5 crore for qualified applicants at top institutions.
Affordable Rates: Interest starts at 9.7% p.a., adjustable based on security type, academic standing, and financial background, ensuring cost-effective borrowing.
Comprehensive Coverage: Funds tuition, accommodation, travel, exams, and equipment fully, plus tax deductions on interest under Section 80E.
Swift Approvals: Digital applications yield provisional offers instantly, with full processing in 3-15 days.
Adaptable Repayment: Options include moratoriums during studies plus 6-12 months grace, with terms extending to 15 years and no prepayment penalties.
No Security for Many: Collateral-free for premium universities, simplifying access for high-potential borrowers.
Broad Eligibility: Open to Indians aged 16-35 with solid academics and admission to approved global schools in 150+ countries.
How does it work
Total Processing Time
Upload documents securely, get instant verification, and track your application 24/7 through our online platform
Expert Personal Support
Dedicated relationship manager with multilingual support to guide you through the entire loan process
Fastest Loan Processing
Get your education loan approved 3x faster than traditional bank applications with our streamlined process
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