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ICICI Bank Education Loan for Abroad Studies
An ICICI Bank education loan for abroad studies can help finance tuition fees, accommodation, travel, books and other eligible education expenses. Check the loan amount, interest rate, eligibility, documents, repayment options and application process for studying overseas.
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Table of Content
Overview of ICICI Bank’s education loan for studying abroad
ICICI Bank education loan can fund higher education expenses in India and overseas. The bank’s education loans are available for courses across 150+ countries and 3,000+ institutes.
The loan can cover several costs connected with the course, including:
- Tuition and college or hostel fees
- Examination, library and laboratory charges
- Student insurance premium
- One-way travel expenses
- Books, uniforms and a computer
- Living and hostel expenses
- Other expenses required to complete the course, such as study tours and project-related costs
The exact amount approved depends on the overall funding requirement and the bank’s assessment.
ICICI Bank abroad education loan interest rates
For abroad studies, indicative starting rates for ICICI Education Loan are:
| Loan type | Interest rate |
| Secured Education Loan | Starting from 9.00% p.a. |
| Unsecured Education Loan | Starting from 10.25% p.a. |
These are starting rates, not guaranteed education loan interest rates for every borrower. The applicable rate can vary based on factors such as the loan type, applicant or co-applicant profile, institute category, and course.
Secured vs unsecured rate difference
A secured loan is backed by acceptable security, while an unsecured loan does not require such collateral. ICICI Bank lists a lower starting rate for secured overseas education loans than for unsecured loans.
The bank determines the final rate after assessing the application. You can use an ICICI Bank Education loan EMI calculator to estimate your monthly payments.
Eligibility criteria for ICICI abroad education loan
ICICI education loan for abroad studies eligibility requires the applicant to be an Indian citizen and have completed 10+2 or a diploma. The loan can be used for graduation, postgraduate degrees, or postgraduate diplomas in professional education at listed, recognized, and accredited institutions in India and overseas.
The bank lists the following broad criteria:
| Particular | Eligibility criteria |
| Nationality | Indian |
| Age | Minimum 16 years; maximum 65 years at maturity, on a case-to-case basis |
| Academic record | Good academic record |
| Qualification | Completed 10+2 or diploma |
| Course | Graduation, postgraduate degree or PG diploma in professional education |
| Institution | Listed, recognized, and accredited institute in India or overseas |
| Loan amount | Up to Rs 3 crore for international studies |
| Co-borrower | Specified family members/relatives, subject to bank assessment |
Student eligibility and admission requirements
A confirmed admission to a recognized institution is an important part of the application. ICICI Bank also accepts a pre-admission sanction based on the institute’s offer letter. Loan assessment can consider factors such as entrance-exam scores, 12th/HSC results, and confirmed admission.
ICICI Bank specifically mentions undergraduate, postgraduate, professional, and PhD programs abroad.
Co-applicant income and credit score requirements
Eligible co-borrowers include a father, mother, brother, sister, spouse, grandparents, parents-in-law, and a maternal or paternal uncle.
The bank assesses the applicant and co-applicant profile as part of its credit evaluation.
Documents required for ICICI Bank abroad education loan
ICICI Bank’s education loan document list covers both the student and co-applicant.
| Applicant | Documents |
| Student | Identity/address proof such as Aadhaar, Voter ID, or Driving License |
| Student | Academic records, marksheets, degree certificates and entrance scores |
| Student | Admission proof such as acceptance/confirmation letter or I-20 for the USA |
| Co-applicant | Identity/address proof |
| Salaried co-applicant | Salary slips and bank statements |
| Self-employed co-applicant | ITR, GST documents and bank statements |
| Security, where applicable | Documents relating to the property, FD or other accepted security |
ICICI Education Loans can go up to Rs 3 crore for international studies. The actual sanctioned amount depends on the course, institution, applicant profile, and applicable loan terms.
How to apply for an education loan via Urban Money
Borrowers can apply for an Educational Loan through the Urban Money website:
- Visit the official Urban Money website
- Select “Education Loan” under the loan category
- Click “Apply Now” and enter basic details such as name, mobile number, and required loan amount
- Verify identity by entering the OTP sent to the registered number
An Urban Money loan specialist will shortly contact you to guide you through the process until disbursal
Processing Fees and Other Charges
ICICI Bank’s education loan charges include:
| Particulars | Charges |
| Processing fee | Up to 2% of the loan amount + GST |
| Administrative charges | Rs 5,000 or 0.25% of the loan amount, whichever is lower |
| CERSAI | Rs 50 for loans up to Rs 5 lakh; Rs 100 for loans above Rs 5 lakh |
| Floating-rate loan prepayment | Nil |
| Fixed-rate loan prepayment within 37 months | 2% of amount prepaid |
| Fixed-rate loan prepayment after 37 months | Nil |
Charges can change, so check the applicable schedule at the time of sanction before accepting the loan.
Moratorium period and repayment terms
ICICI Bank offers repayment options including Partial Simple Interest (PSI), Simple Interest (SI) and EMI. The repayment tenure can extend up to 15 years.
For the moratorium, the principal repayment is deferred during the course period and an additional grace period follows course completion. The standard structure includes the course period plus six months, although the applicable arrangement can depend on the loan.
Interest continues to accrue during the moratorium. Partial interest payment may be available depending on the course, study destination, institute category, and co-applicant profile.
Tax Benefits on ICICI Bank Education Loan Under Section 80E
ICICI Bank states that borrowers may be eligible for a tax deduction on the interest paid on an Education Loan under the Income Tax Act, subject to applicable rules and opting for the old tax regime.
The education loan tax benefit relates to the interest component, not the principal repayment. Check exact eligibility against the prevailing income-tax rules for the relevant financial year.
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Reviewed ByLast Updated: 5th October 2026
Frequently Asked Questions (FAQs)
Does ICICI Bank offer education loans for studying abroad?
Yes. ICICI Bank provides Education Loans for undergraduate, postgraduate, professional and PhD programs abroad at recognized institutions. The bank states that its education-loan network covers 150+ countries and 3,000+ institutes.
What is the interest rate on ICICI Bank's abroad education loan?
For abroad studies, ICICI Bank’s starting rates are 9.00% p.a. for secured loans and 10.25% p.a. for unsecured loans. The actual rate depends on the applicant profile, course, institute category, and other applicable terms.
Is collateral mandatory for an ICICI Bank abroad education loan?
No. ICICI Bank offers both secured and unsecured Education Loans. Its current page lists property, ICICI Bank fixed deposits, and an existing ICICI Bank home or mortgage loan as possible forms of security.
What is the maximum loan amount ICICI Bank offers for studying abroad?
ICICI Bank offers education loans of up to Rs 3 crore for international studies, subject to eligibility and the bank’s assessment.
Who can be a co-applicant for an ICICI Bank education loan?
A father, mother, brother, sister, spouse, grandparents, parents-in-law, and maternal or paternal uncle can be co-borrowers. The final acceptance is subject to the bank’s assessment.
What documents are required for an ICICI Bank abroad education loan?
The main documents include identity or address proof, academic records, admission proof, and financial documents for the co-applicant. Salaried co-applicants may need salary slips and bank statements, while self-employed applicants may need ITR, GST, and bank statements.
How long does ICICI Bank take to process an abroad education loan?
Processing can take a few working days after you submit all required documents. Existing customers may receive faster processing, while missing documents or additional verification can extend the timeline.
Does ICICI Bank offer a moratorium period on its abroad education loan?
Yes. ICICI Bank provides a principal moratorium covering the course period and an additional grace period. Its current guidance states a six-month post-course grace period in the standard structure, with the applicable terms depending on the loan.
Can I claim a tax deduction on interest paid on an ICICI Bank education loan?
Yes, subject to the applicable tax rules. Borrowers may claim a deduction on education-loan interest under the Income Tax Act, subject to eligibility and the old tax regime.
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