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| COMPARE : EDUCATION LOANS |
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| ICICI Bank Education Loan |
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| Introduction |
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| ICICI bank education loan covers the course fee, other supplementary expenses set by the institute. Student must have the letter from the Institute which has the details confirming his admission and course fee along the other important documents. ICICI bank requires a confirmation letter from ICICI Prudential life stating that the students will get absorbed under the payroll of the company. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
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. |
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,
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. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Loan upto Rs.4.00 lacs: No margin
Loan above Rs.4.00 lacs: 15%
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Loan upto Rs.4.00 lacs: No margin
Loan above Rs.4.00 lacs: 5%
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| Tenure |
Min. - 1 Yrs.
Max. - 7 Yrs.
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Min. - 1 Yrs.
Max. - 5 Yrs.
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| Interest Rate |
At least 0.50% concession in interest rates on Education Loans to girl students
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11 %
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
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| Comment on Charges |
Penal interest @2% |
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Security
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Security |
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Loan upto Rs.4.00 lacs: No security
Loan above Rs.4.00 lacs and upto Rs.7.50 lacs:
Collateral Security in the form of third party guarantee to the satisfaction of bank.
Loan above Rs.7.50 lacs:
Collateral security equivalent to the loan amount comprising of any one or more of the following : NSCs, Govt. Securities, Bank Deposits and Mortgage of Immovable Property (supported with guarantee of the owner) in favour of the Bank and acceptable to the Bank.
In case loan is allowed for computer, the same should also be hypothecated to the bank. |
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