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| Education Loan Scheme |
ICICI Bank will provide an education loan that will cover the entire course fee as well as supplementary expenses( such as course material, boarding and lodging expenses ) as stipulated by the Institute (approx Rs 2 Lacs).
Loan Amount Study Abroad
- Min.- Rs 50000
- Max.- Rs 400000
Study India
- Min.- Rs 50000
- Max.- Rs 400000
Loan Purpose
- Free Payable to College / Hostel
- Examination / Library / Laboratory fee
- Purchase of books / equipments / instruments
- Caution Deposit / Building Fund
- Travel Expenses / Passage
- Purchase of computers
Course: Graduation
Loan Type: Term Loan
Rate of interest
- The rate of interest charged is 14.75% (Might be revised shortly)
Moratorium period
Moratorium of 18 months is given (which is the course period +6 months). The monthly installment during the moratorium period (1-18 months ) will be Rs. 2458/-.
Post Moratorium period
Students can have the option of repayment period which starts post moratorium period of 2years, 3years & 4years.
Monthly Installment after the moratorium period
- For 2years tenure will be Rs 9674/- beginning from 19 month to 42 months.
- For 3years tenure will be Rs6909/- beginning from 19 months to 54 months.
- For 4years tenure will be Rs 5541/- beginning from 19 months to 66 months.
- Processing Fee: There will not be any processing fee.
- Foreclosure Charges There are no charges for foreclosing the loan.
How to apply
The student needs to apply at the nearest ICICI Bank branch which distributes loans of his domicile along with the letter from the Institute detailing his confirmation of admission & course fee along with other mandatory documents.
ICICI Bank will require a latter from ICICI Prudential life confirming that the students will get absorbed under the payroll of the compant.
Documents Required For ICICI Bank Student Loans:
- Loan application form duly filled.
- Letter from Institute confirming the admission of the candidate with stipulated fees & other charges for completing the course.
- Letter from ICICI prudential Life confirming that students will get absorbed under the payroll of ICICI Prudential Life.
- ID proof (Driving License / Passport / Pan Card etc).
- Permanent address - residence proof ( Ration Card / Utility Bill ).
- Qualification proof - Marksheets of graduation, 12th and 10th Std.
- Signature Proof - (Driving License / Passport / Pan Card).
Post Sanction :
Repayment of the loan through Auto Debit mandate.
Credit facility form.
Contact Details:
ICICI Bank
9th Floor, South Towers
ICICI Towers
Bandra Kurla Complex
Bandra(E)
Mumbai
Phone : +91-22-26531414
E-mail : wecoveru@icici.com ; lifeline@icici.com
Website: www.icicibank.com
Contact Details:
ICICI Bank
9th Floor, South Towers
ICICI Towers
Bandra Kurla Complex
Bandra(E)
Mumbai
Phone : +91-22-26531414
E-mail : wecoveru@icici.com ; lifeline@icici.com
Website: www.icicibank.com