Education Loan from ICICI Bank

ICICI bank

Purpose :

ICICI Bank offers education loans to students who wants to pursue courses within India.

Eligibility :

For Studies in India:

  • Graduation courses – BA, B.Com, B.Sc. etc.
  • Post Graduation courses - Masters & Phd.
  • Professional courses – Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
  • Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institutes affiliated to University.
  • Regular Degree/Diploma courses like Aeronautical, Pilot Training, shipping etc. approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation / shipping authority.
  • Courses offered in India by reputed foreign universities.
  • Evening courses of approved institutes.
  • Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR / etc.
  • Courses offered by National Institutes and other reputed private Institutions - depending on future prospects / recognition by the user Institutions.
  • Courses leading to certification are not to be considered.


For Studies Abroad:

  • Graduation – for job oriented professional / technical courses offered by reputed universities.
  • Post graduation – MCA, MBA, MS etc.
  • Courses conducted by CIMA – London, CPA in USA etc.

Amount :

Loans for students studying in India: 10 lacs

Application Forms Now Available

Loans for students studying abroad: 20 lacs

How to avail :

Loans are available in all ICICI branches.

Advantages :

  • Minimal documentation along with added percentage of no collaterals or securities for loan upto 7.5 lacs
  • No Processing Charges; No Foreclosure Penalty
  • Faster Processing and Easy Documentation

Margin:

Loan upto Rs.4.00 lacs: No margin
Loan above Rs.4.00 lacs: (i) 5% for studies in India
(ii) 15% for studies outside India.

Interest :

Interest Charged only on the amount used.

Repayment :

Repayment will start after six months of completion of course or one month after the student starts earning, whichever is earlier

Processing Fee:

NIL

 

 

 

 

 

 

 

Flexible Repayment Options, repayment period starts after the course is completed and +6 months as the grace period.
For further information please visit ICICI Bank.

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