Private bank
ICICI Bank
iSMART Education Loan
Families who want a private bank and a published range, with faster processing than a PSU.
Check ICICI eligibilityICICI Bank, quarter ended March 2026. Range 9.00%–13.00%, mean 10.54%. Secured select domestic files from 8.50%. Unsecured abroad files from 10.25%.
What to know
- The published range for the year to March 2026 is 9.00%–13.00%.
- Secured loans for select Indian institutes start at 8.50%.
- Unsecured loans for studies abroad start at 10.25%.
- The rate depends on the course, security, and the co-applicant’s credit.
Terms
- Interest
- 8.50%–13.00%
- Maximum
- Set by the institute, course, and security.
- Without collateral
- Depends on the institute list
- Tenure
- Up to 15 years on most education products
- Processing fee
- Usually charged, plus GST.
- Margin
- Often nil on premier-institute files. Standard files follow the bank’s grid.
- Moratorium
- Course period plus 6 to 12 months
- Girl student
- Ask. A few private banks match the 0.50% public-sector concession.
- Typical speed
- About 5–10 working days
- Covers
- India and abroad
Eligibility
- Admission offer and a co-applicant.
- The unsecured grid is limited to institutes ICICI has approved.
Documents
- Admission letter or college allotment, plus the fee structure.
- KYC for the student and co-applicant: PAN, Aadhaar, and passport-size photographs.
- Academic records: Class 10, Class 12, and degree marksheets.
- Co-applicant income proof: salary slips or ITR, and six months of bank statements.
- Collateral papers only when the loan is above the unsecured limit.
The bank or NBFC sanctions the loan. This page is a briefing so you can compare, not an offer.