ICICI Bank history

ICICI Bank was initially promoted in 1994 by ICICI Limited, an Indian financial institution. At present, it is India's largest private sector bank with total consolidated assets of Rs. 11,242.81 billion by March 31, 2018. The profit of the bank after tax is Rs. 67.77 billion for the year ended March 31, 2018. Currently, it has a network of 4,867 Branches and 14,367 ATMs across India.

ICICI became the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE in 1991. In October 2001, the Boards of Directors approved the alliance of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank which was also supported by the shareholders in January 2002.

Sr.No Title
1 Education Loan Overview and Interest Rate
2 Benefits and Features
3 Eligibility
4 Documents Required
5 Expenses Considered

ICICI Bank customer services

The bank provides basic services such as deposits, debit cards, transfers, and loans.

ICICI Bank customer sevices

ICICI Bank education loan

ICICI bank understands the career aspirations of the students and offers the best student loan to help students and their family to successfully support the journey as a student. It offers loans up to Rs 1 crore. The bank doesn't exert any restriction on pre-payment or part payment.

ICICI Bank education loan rate of interest and other details are given below.




Interest rate

Starting at 11.5% per annum

Loan tenure without collateral

Up to 8 years post-course period + 6 months

Up to 5 years post-course period + 6 months

Loan tenure with collateral

Up to 10 years post-course period + 6 months

Up to 7 years post-course period + 6 months

Maximum loan amount

Rs 50 lakh

Moratorium period

As per the course and institute

Benefits and features

  • Loans up to Rs 1 crore

  • No margin money is needed for loans up to Rs 20 lakh

  • No restrictions on pre-payment or part payment

  • Other expenses like student exchange travel expense, the laptop also covered

  • Pre-Visa disbursal for students applying for overseas education

  • Preferential forex rates for international disbursements

Eligibility for ICICI Bank education loan

  • The student should be an Indian national.

  • The student should have already secured the admission/ got invite from approved college/ university in degree/ diploma course.

  • The student should have completed 12th standard.

Documents required

  • KYC

  • Mark sheets of 10th, 12th, graduation and entrance exams if any.

  • Admission letter

  • Fee structure

  • Co-applicant KYC and income proof (applicable only for specific course)

  • Additional documents may be required in case of requirement of collateral

Accepted Security/ Collateral

  • Residential/ commercial property/ plots (Non-agricultural)

  • Fixed deposits

Expenses considered

  • Fee payable at college/ school/ hostel

  • Examination/ library/ laboratory fee

  • Travel expenses

  • Insurance premium for student borrower

  • Refundable deposit approved by Institution bills/ receipts

  • Purchase of books/ equipment/ uniforms/ instruments and purchase of the computer at a reasonable cost only if required for completion of the course.

  • Any other expense required to complete the course like study tour, project work, and so on.

ICICI Bank customer care number

For any query, you may dial 1800 200 3344 between 9 a.m. to 6 p.m. from Monday to Friday.

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