Planning for higher education? Get a collateral-free Education Loan from ICICI Bank of up to ₹ 3 crore to fund your education. Manage your loan easily with ease, quick approvals, no collateral and flexible repayment options. If you're looking for an instant student loan, ICICI Bank offers Instant Education Loans without collateral and with an online application process to help you confidently step towards your academic goals.
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Competitive interest rates
Easy repayment options
No foreclosure charge
Zero margin for selected institutes
Get your Instant Education Loan sanction letter in just a few minutes.
Minimal paperwork is required, making the application fast and easy for an instant loan for students.
Apply easily via Net Banking or the iMobile app in just a few steps.
On foreign remittances for education if the fund comes from an education loan
Benefit from tax deductions under Section 80E on interest paid.
Access funding for your education without the need for collateral.
Up to ₹ 3 crore for international & domestic studies.
Attractive Interest Rates with easy repayment options.
Loan tenure is up to 15 years
Get the sanction letter instantly online.
A nominal processing fee with no hidden charges.
Identity Proof
Address proof (for NRIs both Indian and Overseas)
Academic documents (Marksheets, degree certificates, entrance test scores)
Registration certificate from Professionals (CA, Doctor)
Admission proof (Letter from university & fee structure, USA - i-20 form, UK- CAS letter)
Income proof of co-applicant (Salaried -Salary slips, Bank statements for 3 months, Self employed - Audited financials, ITR, etc.)
Additional Banking and financial documents (as requested by bank)
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KYC documents of applicant and co-applicant
PAN Card of applicant and co-applicant
Recent photographs of applicant and co-applicant
Completed application form
Check Eligibility
Apply Online
Submit Documents
Get Sanction Letter
Apply online via Net Banking or the iMobile app. Alternatively, visit any ICICI Bank Branch, fill out the application form and submit the required documents.
ICICI Bank offers an unsecured (collateral-free) Education Loan, making it a convenient option for students seeking financial assistance.
Borrow a minimum of ₹ 1 lakh for both domestic and international studies. Loan amounts are based on the course and institution you’re applying to.
An Instant Education Loan offers an instant sanction letter online, providing quick financial assistance for your education journey.
ICICI Bank customers who have an offer for this loan and are applying for higher studies at universities in India or abroad can avail this loan.
You can start as late as after your course is over.
Repayment tenure is up to 15 years (including the course period), depending on the Loan amount and terms.
Parents, siblings, spouse, father-in-law, mother-in-law, daughter-in-law, maternal and paternal uncle/aunt and grandparents are eligible to be your co-applicant.
Collateral is required only for secured loans. Fixed Deposits, residential or commercial property or an existing Home Loan / Mortgage Loan with ICICI Bank are accepted as collateral.
A collateral-free Education Loan is an unsecured loan, i.e., a loan you can avail without pledging any assets with the bank. You can easily apply for this loan with ICICI Bank using the iMobile app or Net Banking and get sanction within minutes.
Yes, you can get a collateral-free Education Loan in India from ICICI Bank to study abroad. The loan amount can be up to ₹ 3 crore to cover admission and all other important expenses.
You can apply for a collateral-free Education Loan for studies abroad through our website, by visiting any ICICI Bank Branch.
Interest rates vary based on factors such as the applicant’s and co-applicant’s profiles, the institute’s category and the type of course.
You can apply for a non-collateral education loan for abroad through our website, by visiting any ICICI Bank branch.
Yes, ICICI Bank offers collateral-free Education Loans up to ₹3 crore, depending on the course, institution and eligibility. This loan amount without collateral can be easily used to cover a lot of important expenses like tuition fees, travel costs, stationery, hostel, etc.
Yes, you can pre-pay or foreclose your loan at any time during the tenure. There are no pre-payment or foreclosure charges.
While an unsecured loan doesn't require collateral, the interest rate might be higher. It's crucial to have a solid repayment strategy in place.
Banks assess factors like academic performance, university ranking, course type, future income potential and credit history of the applicant and co-applicant.
While an unsecured loan doesn't require collateral, the interest rate might be higher. It's crucial to have a solid repayment strategy in place.
Banks assess factors like academic performance, university ranking, course type, future income potential and credit history of the applicant or co-applicant.
Students who have secured admission in NAAC (National Assessment and Accreditation Council) accredited universities / institutions, NBA (National Board of Accreditation) recognised professional courses, Centrally Funded Technical Institutes or all other recognised international universities / institutions can apply for an Instant Education Loan.
An EMI Calculator helps estimate loan repayments and effectively plan finances.
