Icici Bank Education Loan:

ICICI Bank Education Loan is a means of helping out students with merit for taking up further education. ICICI Bank provides help in the form of financial help to study in India or any country abroad. ICICI Bank Education Loan is a great way of studying abroad when one has not been able to qualify for a full time scholarship program. It has been observed that students specially pursuing technical education have applied more and more for these loans.

ICICI Bank Education Loan interest rate:

The ICICI Bank Education Loan interest rate is competitive and attractive for the students applying to study in India and abroad.

ICICI Bank Education Loan rate for loan up to Rs. 4 lacs is IBAR.

ICICI Bank Education Loan interest rate for loan above Rs. 4 lacs is BPLR + 1%.

ICICI Bank Education Loan rate for girl student has a concession of 0.50%.

ICICI Bank Education Loan interest rate has a penal interest rate of 2% for studies abroad.

ICICI Bank Education Loan Eligibility And Expenses Covered:

For ICICI Bank Education Loan can be taken for the following purposes and courses. If one wants to study in India one can go for graduation and post graduation courses. Courses which are conducted or hosted by eminent institutes like ICWAI, CA, IIM and IIT or courses offered by UGC held program qualify for ICICI Bank Education Loan eligibility.

The eligibility process has a process of margin money if the loan is taken for more than 4 lacs.

Studies In India 5%

Studies Abroad 15%

Other Major Qualifications For ICICI Bank Education Loan Eligibility Are:

1.To qualify for ICICI Bank Education Loan eligibility the candidate should be an Indian national.

2.Admission to technical kind of courses in India is possible through ICICI Bank Education Loan eligibility.

3.For admission abroad the student should have qualified in the merit selection process of the university.

4.The maximum loan for studies in India is at the maximum is Rs.10 lacs

5.The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered under the loan is

1.College Fee

2.Hostel charges

3.Library charges

4.Caution deposit

5.Money to go abroad

6.Money to purchase a computer

7.Money for Study tours, Project work etc.

ICICI Bank Education Loan Review And Documentation:

According to the ICICI Bank Education Loan review the student would need to provide the following documents for the processing of the loan.

1.Fully completed loan application form

2.Two Photographs

3.Mark sheet for the exam one has qualified for

ICICI Bank Education Loan review and documentation for the salaried co- borrower

1.Bank Statement

2.Income Tax Statement for the last two years

3.A brief about the asset and liabilities possessed by the borrower

4.Salary slip

ICICI Bank Education Loan review and documentation for the self employed individual

1.Bank Statement

2.Income Tax Return

3.Profit and Loss Account or Balance Sheet of the Company

4.Proof of Source Of Income

5.Brief about the asset and liabilities possessed by the borrower.

ICICI Bank Education Loan Loan Review And Application Procedure:

ICICI Bank Education Loan application can be collected from the bank branches all across India. People can go ahead and fill up the form in which the details of the student and the co- borrower is mentioned along with the necessary documentation. People can go ahead and submit the application at the branch and the loan will be disbursed in installments to the college or institute directly.

ICICI Bank Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back in 5 to 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. The pre closure process is stated by the branch of the bank. Late fee charges will be as per the agreement.

ICICI Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on ICICI Bank Education Loan eligibility and ICICI Bank Education Loan Rate etc. are on the official site at http://www.allahabadbank.com/furnishing_loan.asp