Education and Career Forum

I want to apply for an Education Loan from ICICI Bank as I have an account in this bank for studying BBA(H). But my friends are telling me to not apply from this bank. Can I know what benefits I will get to apply an education loan from ICICI Bank?

Getting an education loan through ICICI bank is an easy and simple process.
Maximum loan provided is Rs 50 lacs for domestic courses and 1 crore for international course.

Expenses covered
Fees payable at college /hostel
Travel expenses/passage money
Purchase of books/equipment etc

Education loan reduces the strain on your family saving and eliminate the needs to liquidate your investment in fixed deposit , mutual funds or bonds.
Besides, the interest on an education loan is eligible for tax rebate under section 80E

Benefits of an Education Loan offered in ICICI Bank for BBA(H) aspirant?

1. No margin money required for loans up to 20 lakhs.

2. Loans up to Rs1 crore.

3. Other expenses like laptop, exchange travel expense also covered.

4. Preferential forex rates for international disbursements.

Benefits of an Education Loan offered in ICICI Bank for BBA(H) aspirant:-

ICICI bank is a private sector bank and they usually offer interest rate same as other private sector banks with not much difference. Hence, there are no benefits of any kind offered specially by the bank.

It would be better to apply at a PSU bank to get a better interest rate and if you want good customer service, then the private sector bank will be useful.

Benefits of an Education Loan offered in ICICI Bank for BBA(H) aspirant:-

Low interest rate

Less paperwork

Faster Disbursal

No prepayment charges

No pre-closure charges

No margin money required for loans up to Rs. 20 lakh.

Other expenses like student exchange travel expense, laptop also covered.

Benefits of an Education loan offered in ICICI Bank for BBA (H) aspirant is:-

*You will get 40 lakhs to study in India and 50 lakhs to study in Abroad.

And Interests rate for education laon is 11.5%p.a.

And there is no margin upto 20 lakh for an education laon.

Benefits of an Education Loan offered in ICICI Bank for BBA(H) aspirant?

Opting for an education loan reduces the strain on your family savings and eliminates the need to liquidate your investments in fixed deposits, mutual funds or bonds. Besides, the interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961.

Opting for an education loan reduces the strain on your family savings and eliminates the need to liquidate your investments in fixed deposits, mutual funds or bonds. Besides, the interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961.