ICICI Bank provides not only business and housing loans but it also provides students loan for studying in India at 13.75% rate of interest. ICICI Bank renders loan for higher education like medical studies, engineering and management studies. This bank provides educational loan not only for the students studying abroad but also for the students residing at their respective cities and other cities.
In local areas the Bank provides for health, vehicle and travel expenditures. In India other than health, vehicle expenditure it also provides ICICI Bank student loan for the students staying in hostel or paying guest.
Certain criteria for ICICI Bank student loan are
- Eligibility criteria: The student must be an Indian resident. He or she must be within the age of 16 to 26 years. He or she must have income proof of at least one parent. For studying within India the student’s eligibility is up to Rs. 10 Lacs and for abroad it is up to Rs. 20 Lacs.
- Age proof – birth certificate, PAN card etc are required if a candidate wants to apply for ICICI Bank student loan.
- Identity proof- Passport, Voter's Card, Driving License, Photo PAN card etc
- Address proof – Ration card, Insurance payment receipt, Passport, Voter’s card etc
- Income Proof- Salary slip, Bank statement, Form 16, Income tax returns
- Guarantor’s document- details of Guarantor’s assets and liabilities
- Documents for main applicant- for studying abroad, Xerox of Visa and Passport, Prospectus for the course etc.
Students having these valid documents can only apply for ICICI Bank student loan.