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Secure your academic future instantly with a pre-approved ICICI Bank Education Loan. Experience the ease of obtaining an Education Loan without collateral in just a few clicks. No more tedious paperwork or branch visits required. ICICI Bank’s unique offering provides an instant sanction letter online, allowing customers to finance their education journey effortlessly.
Apply for an ICICI Bank Education Loan online and get quick approval in just a few minutes. Enjoy flexible repayment options and competitive interest rates, all without the need for collateral.
Benefits of collateral-free ICICI Bank Education Loan
Fulfil your dream of studying abroad with our Education Loan. Our Student Loan without collateral offers multiple benefits along with the flexibility and support to pursue your academic aspirations without financial worries.
Pre-approved instant sanction: Customers get access to an instant sanction letter online from the comfort of their home for their pre-approved Education Loan.
Tax benefits: Education Loan comes with a tax benefit under Section 80E for the entire interest amount paid (100%) without any upper limit. This benefit brings down the effective rate of interest. Explore the Tax Benefit Calculator now.
Easy application: Customers can apply for our Education Loan through Internet Banking in just a few clicks.
Turnaround time: This instant facility brings down the time for getting the Education Loan sanction letter from a few days to a few minutes.
How to check and apply for a pre-approved Education Loan without collateral offer? Log in to Internet Banking
FAQs on Education Loans without Collateral
A facility that enables you to get an instant sanction letter online from the comfort of your home.
Instant sanction letter from banks can be used for:
1. Visa application
2. Providing a source of funds for the student’s admission confirmation at overseas universities
3. Getting Form I-20
4. Quick disbursement.
ICICI Bank customers who have a pre-approved offer from the Bank and are applying for higher studies at universities abroad or in India.
Since an unsecured Education Loan requires no collateral, it is a practical choice for students. The advantage of unsecured loans is that there is no requirement to pledge assets. However, the interest rate could be a little higher. You must ensure you have a strong repayment strategy.
Banks consider several criteria when providing an Education Loan without collateral including your academic performance, the ranking of the school, the course you are taking, your potential for future income and your/co-applicant’s credit history. Banks use these factors to assess your ability to repay the loan even without collateral.
For an instant loan, students can apply online through the website or mobile application of ICICI Bank. We offer pre-approved Student Loans in just a few minutes, provided you meet the requirements. Pre-approved offers and minimal paperwork can further expedite the process, making it easy to fund your education quickly.
Competitive rate of interest
The Education Loan comes with a tax benefit for the interest paid without any upper limit (100% of the interest amount). Explore the Tax Benefit Calculator now.
This instant facility will bring down the turnaround time for getting the sanction letter from around 15 to 45 days to merely a few minutes.
Seamless remittance to international institutes
Guaranteed Investment Certificate (GIC) for Canada
UK Personal Bank Account
Travel Card
The minimum pre-approved Education Loan amount is ₹ 1 lakh for both international and domestic universities.
You can apply through ICICI Bank Net Banking or the iMobile app (available on iOS and Android).
