I-Smart Student Loan
by ICICI Bank
I-Smart Student Loan by ICICI Bank
Empower your ambitions with an education loan of up to 3cr from ICICI Bank.
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Your Gateway to Stress-Free Financing
Here’s why thousands of students trust ICICI Bank for education loans.
- Loan up to ₹3 crore for international studies.
- Collateral-free loan up to ₹1 crore for eligible students.
- Pre-admission Sanction Letter available.
- Flexible repayment options:
- Full moratorium (no payments during study period)
- PSI (Partial Simple Interest)
- SI (Simple Interest)
- Direct EMI from the start
- Unlimited tax benefits on interest paid under Section 80E.
- Customised loan solutions based on the course, country, and institution.
- Quick processing with minimal documentation.
- Competitive interest rates and transparent fee structure.
- Applicants should be an >b>Indian citizen.
- Admission into a recognized university or institution in India or abroad.
- Co-applicant (parent/guardian/spouse/sibling) may be required based on loan amount and collateral requirements.
- Applicants should have a strong academic background.
- The course should be
job-oriented
(undergraduate, postgraduate, diploma, or professional programs).
- Interest rates: Starting from competitive rates as per ICICI Bank policy.
- Processing fee: Nominal processing charges based on loan amount.
- Prepayment charges: Nil or minimal, depending on loan type.
- Penal interest: Applicable in case of delayed payments.
- KYC Documents (Aadhaar, PAN, Passport, etc.).
- Proof of admission (offer letter from university/institution).
- Academic records (10th, 12th, graduation mark sheets, etc.).
- Income proof of co-applicant (Salary slips, ITR, Form 16, etc.).
- Collateral documents (if applicable).
- Bank statements of the last six months.
- Loan disbursement will be made directly to the institution or relevant authorities.
- The student is responsible for timely repayments as per the chosen repayment plan.
- Moratorium period is subject to course duration and grace period post-course completion.
- The loan tenure can be extended based on repayment capacity and course duration
- ICICI Bank reserves the right to revise interest rates based on RBI policies
- In case of default, the co-applicant will be held responsible for repayment.
Disclaimer : Mentioned terms and conditions are only for the purpose of information, please refer to official documents of the bank offering the loan and also refer to documents of loan application forms, loan sanction letter and loan agreements thoroughly before disbursement of the loan.
Get Your Education Loan in 3 Easy Steps
Mysto has simplified the education loan application process with a quick and secure process. You can apply to multiple banks in three easy steps and get the best benefits.
Create Dashboard & Submit Applications
Get Approvals Within 2 to 7 days
Sign Agreements & Get Funds
Create Dashboard & Submit Applications
Get Approvals Within 2 to 7 days
Sign Agreements & Get Funds
Frequently Asked Questions
Discover answers to commonly asked questions by students on education loans and its processes.
Yes, you can apply for a Pre-admission Sanction Letter, which helps in securing admission and visa approvals.
You can get a collateral-free loan of up to ₹1 crore, depending on eligibility and university ranking.
ICICI Bank offers multiple repayment options , including Full Moratorium, PSI, SI, and Direct EMI. You can choose based on your financial situation.
Yes, a co-applicant (parent/guardian/spouse/sibling) is generally required to strengthen your loan application and repayment assurance.
The loan processing time varies but is usually quick and hassle-free with minimal documentation, subject to eligibility verification.
