ICICI Bank Education Loan (Abroad)
An education loan for studies abroad helps a student finance the cost of pursuing higher education at an overseas institution, with repayment typically structured to begin after the course and any moratorium period. It is commonly used to cover tuition and examination charges, hostel and accommodation costs, travel, books and study materials, insurance for the student borrower and course-related project or study-tour expenses.
A parent, sibling, spouse or other close relative usually joins as a co-applicant, and the loan may be extended on an unsecured basis or against security depending on the case. ICICI Bank, a private-sector bank founded in 1994, offers education loans for overseas study and emphasises a largely online, end-to-end journey from application to disbursement. Its version highlights pre-admission sanction letters that can support visa documentation, a digital education-loan route for eligible existing customers, and flexible repayment structures such as payment during the study period, simple interest or instalment-based plans.
The bank accepts a range of co-applicants including parents, siblings, spouses and other relatives, and allows security options such as immovable property, fixed deposits or an existing home loan where collateral is required. Sanction, the loan amount and terms depend on the admission secured, the co-applicant's financial profile, credit assessment and the bank's criteria, and are not guaranteed.
Documents required
- Student: proof of identity
- Student: academic marksheets and certificates
- Student: proof of admission (acceptance letter)
- Co-applicant: proof of identity
- Co-applicant (salaried): salary slips and bank statements
- Co-applicant (self-employed): income tax returns, GST documents and bank statements
As published by ICICI Bank. Your branch may ask for more.
No verified interest rate is available for the ICICI Bank education loan (abroad).
Eligibility
Loan terms
- Pre-admission sanction letters that can support visa documentation
- Digital education-loan route for eligible existing customers
- Wide co-applicant eligibility including parents, siblings, spouses and other relatives
- Security options including property, fixed deposits or an existing home loan
- Flexible repayment structures such as during-study, simple-interest or instalment plans
Fees & charges
Tax: interest is deductible under Section 80E (no cap, up to 8 years). Foreign lenders (labelled below) are not RBI-regulated — read their terms carefully.
FAQ
They lend without Indian collateral and are useful for some students, but they are NOT RBI-regulated — shown here with a distinct badge. Compare their all-in USD cost against an RBI-registered Indian lender before deciding.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
More from ICICI Bank
- New Car LoanRate8.5 – 12.5%Fee₹3K – ₹5KMax tenure7 yr
- Home LoanRate8.5 – 10.05%Feeup to 0.5%Max tenure30 yr
- Gold LoanRate8.55 – 16.5%Fee2%Max tenure3 yr