Way 2 Freshers

ICICI Bank Educational Loans | www.icicibank.com

ICICI Bank
Website: www.icicibank.com/

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).

Bank Type : Private Bank

Abroad Courses

Graduation
Provided study loan amount in India
Upto 4 Lakhs

Provided study loan amount in Abroad
Upto 4 Lakhs

Coverage :
Fee payable to College / Hostel.Examination / Library / Laboratory fee.Purchase of books / equipments / instruments.Caution Deposit / Building Fund.Travel Expenses / Passage.Purchase of computers.

Interest Rate :
The rate of interest charged is 14.75%. (Might be revised shortly)

Re-Payment :
Moratorium period 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/-.

Documents :
Pre Sanction:

a) Documents of Applicant:

1.Loan application form duly filled.

2. Letter from Institute confirming the admission of the candidate with stipulated fees & other charges for completing the course.

3. Letter from ICICI Prudential Life confirming that students will get absorbed under the payroll of ICICI Prudential Life.

4. ID proof (Driving License/ Passport/ Pan Card etc).

5. Permanent address – residence proof ( Ration Card/ Utility Bill).

6. Qualification proof – Marksheets of graduation, 12th and 10th Std.

7. Signature Proof – (Driving License/ Passport/ Pan Card).

b) Documents of Co-applicant:

1. Earning Parent or earning sibling to be taken as the co-applicant for the loan.

2. ID Proof. (Driving License/ Passport/ Pan Card etc).

3. Permanent address – residence proof (Ration Card/ Utility Bill).

4. Income Proof ( 2 months salary slip for salaried) /ITR of last 2 yrs (for self employed).

5. Signature Proof. (Driving License/ Passport/ Pan Card).

6. Updated Bank Statement for last 6 months from date of application.

Post Sanction:1. Repayment of the loan through Auto Debit mandate.2. Credit facility form.

Where 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.

Type of Loan :
Term Loan