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).
(i) Studies in India:
The student should be an Indian National and secured admission to professional / technical / Graduation / Post Graduation courses in India or Abroad through Entrance Test / Merit Based Selection process.
Sanction of loan will be considered on the basis of academic record, net worth & income of family and scope for securing good / gainful employment. The student will have to submit all required documentary evidences including receipts, estimates etc. & progress / performance report to the Bank regularly till completion of the course.
(ii) Studies in Abroad:
In case of studies abroad, student should submit the Unique Identification Number (UIN) / copy of Identity Card to the branch.
The student / applicant should not be availing / will not avail any education loan during currency of our loan. Necessary Affidavit / Undertaking to this effect to be obtained.
Type of Loan:
Term Loan (To be sanctioned preferably by the Branch nearest to the place of residence of parents).
Student and Parent / Guardian jointly.
Minimum 16 years and maximum upto 40 years.
|Study Abroad||Study India|
|Min. - Rs 50000||Min. - Rs 50000|
|Max. - Rs 400000||Max. - Rs 400000|
Rate of Interest:
Quantum of Loan:
Quantum of loan will be determined by the Bank on the basis of estimates given by the college / institute (with proper documentary evidence) and repaying capacity of student / parent. Any monetary benefit / Scholarship / grants / stipend received by the student will be deducted from the total cost.
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