One bank, worldwide university coverage

ICICI Bank Abroad Education Loan

Funding your study abroad dream takes more than just ambition. It takes the right loan, the right lender, and the right support at every step.

Quick Loan Review

Max Loan Amount

Up to INR 3 Crores

Margin Money

Interest Rate

9% - 13%

Repayment Tenure

Upto 15 Years

Countries Covered

USA, UK, Canada, Australia, France and more

Processing Time

5 to 7 working days

Overview - ICICI Bank Overseas Education Loan

ICICI Bank has been around for a long time and has funded students heading to countries like the US, UK, Canada, and Australia. If you’re trying to understand how the ICICI Bank study abroad loan works and whether it fits your situation, this guide breaks it down in a simple way.

Benefits of the ICICI Bank Study Abroad Loan

ICICI Bank Abroad Education Loan Interest Rates

The ICICI abroad education loan interest rate remains competitive compared to NBFCs and private lenders, making it a preferred choice. Understanding the cost of borrowing is essential. Below is a snapshot of the current rates:

Loan Type	Interest Rate (p.a.)	Processing Fee
Secured Education Loan	9.00%	Up to 2%+ GST
Unsecured Education Loan	10.25%	Up to 2%+ GST

Note: Rates may vary based on profile, university, and course.

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Education Loan Options

Full Name*

Phone Number*

Email*

Planning to study in *

Which degree do you want to pursue? *

What is preferred intake? *

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Which University do you want to attend?* If not listed, select "Not Listed." If undecided, choose "Still Deciding."

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Why Choose ICICI Bank for Study Abroad Financing?

Choosing the right lender is as important as choosing the right university.

Trusted banking institution with global reach.
Clear terms and interest rates that are easy to understand.
Quick disbursal timelines.
Special schemes for premium universities.
Strong support for visa-related financial proof.
Students prefer the ICICI Bank loan for study in USA or Europe for its visa-friendly documentation.

Eligibility Criteria for ICICI Bank Education Loan

Before applying for an ICICI Bank education loan for abroad studies, check if you meet the following criteria:

Category	Details
Nationality	Must be an Indian citizen
Age	Minimum 16 years; maximum up to 65 years at loan closure (case-based)
Academic Record	Consistent and strong academic performance
Qualification	Completed 10+2 (12th) or Diploma
Course Level	Graduation, Postgraduate Degree, or PG Diploma (professional courses)
University	Must be recognized, listed, and accredited (India or abroad)
Admission Status	Based on entrance exams (GRE, GMAT, etc.), 12th scores, or confirmed admission
Loan Amount	Up to INR 3 crore for international studies
Co-applicant	Parent, sibling, spouse, grandparents, or close relatives
Security	Property, Fixed Deposit, or existing ICICI Bank home loan (for secured loans)

Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

Expenses Covered Under ICICI Bank Student Loan

The ICICI Bank overseas education loan is designed to cover all essential academic and living expenses, ensuring students can focus fully on their education.

Tuition Fees - Includes the full or partial cost charged by the university for your program.
Accommodation and Living Expenses - Takes care of rent, utilities, and your day-to-day living costs while you’re abroad.
Examination, Library or Laboratory Fees - Includes charges related to exams, academic resources, and lab usage.
Insurance Premium - Covers the student borrower’s health or loan insurance costs.
Travel Expenses - Includes one-way travel cost to your study destination.
Books and Equipment - Covers purchase of books, laptop, uniforms, and study materials.
Other Course-Related Expenses - Includes study tours, project work, and any additional academic requirements.

Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

Documents Required for ICICI Bank Abroad Loan

Have your documents prepared in advance to streamline your ICICI Bank student loan for abroad, with Nomad Credit guiding you through a hassle-free review and submission process.

Student Documents

Passport-size photographs.
Identity & address proof (Aadhaar Card / Voter ID / Driving License).
Academic documents (marksheets, degree certificates, entrance exam scores).
Admission proof (offer/acceptance letter, confirmation of admission, I-20 or equivalent).

Co-Applicant Documents

Identity & address proof (Aadhaar Card / Voter ID / Driving License).
Income proof (salary slips, salary account statements, Form 16, ITR).
Business proof (ITR, GST certificate, business account statements – for self-employed).

Security Documents

Property ownership documents (house/flat).
Fixed Deposit proof (if used as collateral).
Existing ICICI Bank home loan documents (for cross-collateral).

How to Apply for ICICI Bank Loan via Nomad Credit

Applying through Nomad Credit isn’t complicated, you just move step by step, and most of it is handled online.

Step 1: Check Your Eligibility

Start by sharing a few details about your course and university to see what loan options you can get.

Compare Loan Options

Get matched with the best loan offers, including ICICI Bank abroad education loan options tailored to your profile.

Step 3: Upload Documents

Upload your documents online, and Nomad Credit helps ensure everything is in place before it goes for review.

Step 4: Get Loan Approval

Your application is reviewed, and once approved, you receive a sanction letter for your ICICI Bank student loan.

Step 5: Loan Disbursal

The approved amount is then released to your university based on their fee schedule.

ICICI Bank Loans for Top Study Destinations

ICICI Bank supports education loans for 150+ countries and over 3,000 recognized institutes worldwide.

United States

UK

Canada

Australia

France

Singapore

Germany

New Zealand

Ireland

UAE

Why Apply for ICICI Bank Loan via Nomad Credit?

Choosing the right platform can make a big difference when applying for an education loan. With Nomad Credit, your trusted study abroad consultant, you get the right support to secure your ICICI Bank for study in UK or other destinations without unnecessary stress.

Compare 20+ lenders to find the best-fit option

End-to-end document help for a smooth application

Faster processing with dedicated support

Better interest rates through expert negotiation

Admissions + loan support in one place

100% free service with zero charges

Disclaimer: This is just a basic idea of how the ICICI Bank loan works. Approval, rates, and terms can vary depending on your profile. Nomad Credit helps you with the application process, but the final decision always comes from the bank.

Trusted by Thousands of Graduates

Real People. Real Savings.

As I was heading for MBA at Columbia, I got in touch with Nomad team regarding the financing. They were super helpful and always approachable. This involved sitting with me on calls as I fill forms, helping with US cosigner doubts, helping me process all the applications. I highly recommend them!!

Anusha Goel

Columbia Business School

I’m really grateful to Nomad team for all the help and support. From the very first step, they were always just a call away. Thanks to them, the whole process felt so much smoother and less stressful. I’d happily recommend them. They truly go above and beyond for the people they works with!

Vibhuti Luthra

NYU Stern School of Business

I got in touch with Anchal regarding financing options as I head for an MBA at Stanford. She helped me get to know about all the available options with utmost patience. In the end, I was able to get a highly competitive interest rate with her help, which turned out to be the best option available in the market!

Yash Maheshwari

Stanford Graduate School of Business

Ganesh was my case manager at Nomad Credit. He helped me secure 2 student loans, 1 for each year of my MBA at UCLA Anderson. It is not always straight forward for international students to get student loans in the US, but Ganesh walked me through the whole process step by step, making it as stress free as possible. Highly recommended!

Jack Du

UCLA Anderson School of Management

Nomad Team helped me get the best possible option for my financing needs. They made sure that I got the most updated and consistent information to make the right decision towards the most important aspect of my studies i.e. money management. They were always there to help me and have a great attitude towards helping others.

Abhishek Pasricha

University of Southern California

Working with your team was an incredibly smooth and reassuring experience. A special shoutout to Karan and Deepesh, who truly went above and beyond at every stage and making sure everything was on track despite tight timelines. I’m genuinely grateful to have had such a supportive team by my side, I couldn’t have done it without you!

Sourav Mehra

UVA Darden School of Business

Since, I was doing this for the first time, I had a lot of questions. The team very patiently answered all my queries and consistently supported me from filling-up my application to document verification until I had received my loan confirmation. Overall, I really appreciate Nomad’s help in navigating me through my loan application process.

Shubham Malviya

Kellogg School of Management

Your unwavering support, particularly in navigating the challenge of securing a loan without collateral, has been truly remarkable. Special thanks to Shweta ma’am. Your service and commitment to helping students like me achieve their dreams have made a profound impact, and for that, I am deeply thankful.

Shakib Shaikh

Aston University

I’m incredibly grateful to Poonam and the entire Nomad Team for their outstanding support throughout. Their guidance was clear, timely, and tailored to my specific needs. I highly recommend them to anyone pursuing international education. They’re knowledgeable, professional, and genuinely invested in your success.

Akanksha Dilip Mhaisne

Kent State University

Thanks Sulekha & Nomad Credit for assisting me throughout. You also helped me boost my confidence personally in the entire process. I am grateful, you were there to resolve my every doubt regarding visa interview questions and any query I had. At the end, thanks once again for helping me achieve F-1 visa for the USA.

Jaspreet Kaur

University of Maryland

Your exceptional guidance made my master’s application process smooth and stress-free. You were always available and willing to answer my queries with patience and clarity. I highly recommend Nomad to anyone seeking professional guidance for their higher education journey.

Arshan Bhanage

San Jose State University

Frequently Asked Questions

Is ICICI Bank a good choice for study in Australia?

For Australia, a lot of students do go with ICICI Bank for study in Australia because it’s fairly straightforward and covers most major expenses. It’s not the only option, but it’s definitely a common one.

Which is better: ICICI Bank, SBI, HDFC Credila, or NBFCs for study abroad loans?

There’s no one-size answer here. ICICI Bank is usually quicker and easier to deal with, SBI can be cheaper but slower, and NBFCs like Credila are faster but often cost more in the long run.

Can I get an education loan without collateral in India?

Yes, you can get an education loan without collateral in India, especially if you’re going to a well-known university. Just keep in mind, the eligibility is tighter and interest rates can be a bit higher.

Which is the best bank for study abroad loan in India?

If you ask different students, you’ll get different answers. Some go with ICICI because things move quicker, others stick with SBI just to save on interest. It really depends on what matters more to you at that point.

Why do students choose ICICI Bank for study in Canada?

For Canada, ICICI Bank for study in Canada is quite popular mainly because the process is smoother and the documentation usually works well for visa requirements.

How does ICICI vs SBI education loan compare?

If you look at ICICI vs SBI education loan, ICICI tends to move faster, while SBI can be cheaper. So it usually comes down to whether you value time or cost more.

How do education loan interest rates in India compare across lenders?

They’re not really the same. SBI is usually on the lower side. ICICI, kind of in between. NBFCs are higher most of the time, but yeah, they’re easier to get approved with.

Are there tax benefits on education loans, and how do interest rates affect them?

Yes, under Section 80E, you can claim tax benefits on the interest you pay. So even a small difference in interest rates can make a noticeable impact over time.

What do RBI guidelines say about education loans, and is there a moratorium period?

As per RBI guidelines, education loans in India include structured repayment terms along with a moratorium period, which allows you to start repayments after completing your course, giving you time to settle financially.

What is the difference between collateral and non-collateral education loans, and when is collateral required?

What is the difference between collateral and non-collateral education loans, and when is collateral required? It usually comes down to your profile and how much you’re borrowing. If the amount is higher or the lender feels there’s more risk, they’ll ask for collateral. If your academics and university are strong, you might get it without that. Collateral Loans: Lower interest, but you’ll have to back it with property or some asset. Non-Collateral Loans: Faster and asset-free, but usually higher interest. Risk Factor: Collateral puts your asset at risk; non-collateral increases repayment cost. This makes it important to choose based on your financial comfort and profile strength.

What factors improve your chances of getting an education loan approved?

Lenders mainly look at your academic performance, the university you’ve chosen, and your co-applicant’s financial stability. A strong overall profile with a clear career path usually makes approval much easier.

How do currency exchange risks and moratorium period impact repayment?

The moratorium period just means you don’t start paying EMIs right away. But with currency changes, the total amount you repay can still go up or down depending on how the rupee moves during that time.