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Going abroad for higher studies? Or there’s a course that is domestic and expensive? Whatever be your reason for higher studies, it’s understood that higher education is often very expensive, with the rising cost of education. But that shouldn’t stop you!
We, at ICICI Bank, understand about your career aspirations and offer the needed Student Loans, for successfully aiding your journey to higher education. Getting an Education Loan through ICICI Bank is an easy and simple process. We aim at providing financial support for aspiring students, for pursuing professional higher education in India and overseas.
| Interest Rate | Information |
|---|---|
| 10.50% onwards | For courses in India: Up to Rs 50 lakh For courses abroad: Up to Rs 1 crore |
| Particulars | Eligibility |
|---|---|
| Nationality | Indian |
| Age | Minimum- 18 years Maximum- 35 years |
| Academic record | Proven - good |
| Qualification | Pursuing graduate/postgraduate degree or a PG diploma. |
| Income source | Parents/Guardians |
| Income | stable |
| University applied to | Recognised – In India/Abroad |
| Admission Status | confirmed |
| Security | Tangible collateral or guarantor- depending on the loan amount and income source. |
Here are the mandatory documents that a student need to provide to the banks while applying for a student loan:
- Duly filled and signed application form with affixed photographs
- 2 photographs of passport size
- Copy of exam mark sheets of 10th/12th or latest education certificate
- Statement of course expenses/cost of study
- Aadhaar Card and Pan Card of the student and Parent/ Guardian
Age proof
Copy of Aadhaar Card /Voter ID/Passport/Driving License
Identity proof
Copy of Voter ID/Aadhaar Card/Driving License/Passport
Residence proof
Rental agreement/Bank statement of 6 months of the student or co-borrower/guarantor/Copy of Ration card/Gas Book/Electricity Bill/Tel Bill
Income proof
- Most recent salary slips or Form 16 of the parent/ guardian/co-borrower
- 6 months bank statement of the borrower or updated passbook of bank
- Updated ITR (Income Tax Return with income computation) of 2 years or IT assessment order of last 2 years of parent/co-borrower/guardian
- Documents stating the assets and liabilities of the parent/co-borrower/guardian
The NACH e-Mandate system facilitates the issuance and confirmation of mandates made by customers through alternate modes to a paper-based mandate.
Note: The mandate will be routed by the destination bank, after due authentication, to the sponsor bank or by corporate through their sponsor bank to the destination bank with the attributes of customer authentication depending upon the variant of e-Mandate.
To create e-mandate, https://leads.icicibank.com/NewSalesWeb/loadNpciEnachForm.htm?productCode=CF
To track the status of e-Mandate https://leads.icicibank.com/NewSalesWeb/loadenachTracker.htm
Institutes
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Save income tax u/s 80E on interest paid
Seamless remittance to international institutes
Collateral free loan up to Rs 40 lakh for select institutes/ courses
Quick and hassle-free process for timely disbursement of loans
Flexible repayment and tenure options to suit your requirement
Competitive simple interest on your loan
ICICI BANK PRESENTS EDUCATION LOANS UP TO RS 50 LAKH FOR YOUR EDUCATIONAL REQUIREMENTS IN INDIA AND UP TO RS 1 CRORE FOR OVERSEAS.
- Terms and Conditions applied
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