Education and Career Forum

Sir,
I need an Education Loan to study Abroad. So can you tell me about the Education Loan scheme of ICICI Bank as I have a Savings Account in ICICI Bank. Please reply as soon as possible.

ICICI Bank offers an education loan scheme for students who wish to pursue higher education abroad. Here are the details of the loan scheme:

Eligibility criteria:

1. The student must be an Indian citizen aged between 18 and 35 years.

2. The student must have secured admission into a recognized foreign university for a full-time course.

3. The student must have a co-applicant who can be a parent, spouse, or sibling.

Loan amount:

1. The loan amount can be up to Rs. 1 crore.

2. The loan amount covers tuition fees, accommodation expenses, travel expenses, and other related expenses.

Interest rate:

1. The interest rate is generally around 11.25% to 13.75%.

2. The interest rate may vary based on the loan amount, co-applicant's income, and other factors.

Repayment:

1. The repayment period can be up to 10 years.

2. The repayment can start after a moratorium period of 6 months to 1 year after completion of the course.

Documents required:

1. Admission letter from the foreign university.

2. Mark sheets and certificates of the previous academic qualifications.

3. Proof of income of the co-applicant.

4. KYC documents of the student and co-applicant.

5. Bank statements of the co-applicant.

6. Any other documents as required by the bank.

You can visit the nearest ICICI Bank branch or visit their website for more details about the education loan scheme.