ICICI Bank Loan for Study Abroad: University List

ICICI Bank is a leading private sector bank in India, offering financial solutions to students who lack funds. Securing the right financial assistance is crucial for your higher studies if your aim is to go abroad. ICICI Bank provides secured education loans of up to INR 3 crore for courses abroad, with interest rates starting from [Repo rate + 3.75% (Spread)] onwards. The bank maintains an extensive list of 750 approved universities. ICICI Bank education loan college list abroad offers both secured and unsecured loans for students pursuing their studies abroad. For students who are enrolled in these premier institutions, ICICI Bank provides collateral-free education loans up to INR 1 crore, making abroad education accessible. Furthermore, the bank provides flexible repayment options to students, with loan tenures extending up to 14 years for postgraduate courses and 12 years for undergraduate courses. This blog will help you understand ICICI Bank education loan list of universities abroad, their eligibility criteria, and how to apply for an education loan. 

Key Features of ICICI Bank Education Loan Abroad

*Interest rates as of February 2025

Eligibility Criteria for ICICI Bank Education Loan for Abroad

Students planning to pursue higher education with the assistance of an education loan are required to meet the eligibility criteria set by the ICICI bank. Moreover, if your chosen university falls under the ICICI Bank abroad education loan university list, then you can avail yourself of several benefits offered by ICICI Bank.

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  You must be an Indian citizen. 
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  Your university of enrollment should be on the ICICI Bank education loan abroad university list.
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  Your minimum age must be 16 years and the maximum age should not exceed 35 years.
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  Accepted co-applicants are the father, mother, brother, sister, spouse, grandparents, parents-in-law, and maternal/paternal uncle.
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  In the case of an education loan with collateral, accepted collaterals could be property i.e. house or flat, fixed deposit, existing ICICI Bank home loan for cross-collateral.
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  The minimum income of your co-applicant should be INR 50,000 without any financial obligations. Furthermore, they must have a good credit score.
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  Test scores of standardized exams like GRE, GMAT, and English language proficiency test scores (TOEFL, IELTS).

Understanding the Approved Colleges for ICICI Bank Education Loan

ICICI Bank offers education loans tailored for students aiming to study at prestigious institutions abroad. They have maintained a list of approved foreign universities for education loan ICICI Bank. The bank has categorized these groups into three different lists (Premium Select, Premium, and Others) that are based on factors like QS world ranking and employment rate. 

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  The Premium Select list contains 135 universities from the USA, UK, Germany, France, Canada, Ireland, Singapore, Netherlands, and Switzerland. 
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  This Premium Select list includes top-tier universities such as Harvard University, University of Toronto, Imperial College Business School, Trinity Business School, and Trinity Business School.
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  Those enrolled in the universities that lie under the Premium Select category can secure an education loan of up to 1 crore at interest rates starting from 11.25%. Moreover, you do not require a financial co-applicant to secure a loan under this category. 
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  Under the Premium category, there are over 400 universities from countries like the US, UK, Germany, Australia, Singapore, New Zealand, Italy, Ireland, Switzerland, Canada, etc.
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  Students can secure up to 1 crore education loan if their university comes under the Premium list. However, a financial co-applicant is required under this category.
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  There are numerous universities that falls under the “Others” category, students can secure up to INR 20 lakhs of education loans, starting at interest rates of 11.75%. 

List of Approved Foreign Universities for Education Loan by ICICI Bank

ICICI Bank categorizes its approved foreign universities into three tiers: Premium Select, Premium, and Others. Students admitted to these universities can benefit from high loan amounts, competitive interest rates, and flexible repayment options. However, the loan terms vary across these categories. 

Premium Select Category:

Under the Premium Select Category, students can secure a loan amount of up to INR 1 crore without the need for a financial co-applicant. 

Premium Category:

Under the Premium Category, students can avail of the benefit of a higher loan amount of up to 1 crore. However, students require a financial co-applicant to secure a loan under this category.

Others:

How to Check ICICI Bank Approved Colleges?

If you wonder whether your university of enrollment comes under the ICICI Bank education loan abroad university list pdf or not, then here is how you can check it by following the below-mentioned steps. 

Visit the Official ICICI Bank Website:

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  Go to ICICI Bank’s education loan page and navigate to the education loan section.
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  Look for the list of approved foreign universities for education loan ICICI Bank under the loan details section.

Contact ICICI Bank Loan Representatives:

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  Call the ICICI Bank customer service helpline or visit your nearest branch.
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  Request details about approved universities for education loans.

Speak to an Education Loan Counselor
:

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  If you have secured admission, you can request a loan eligibility check directly through an ICICI education loan counselor.
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  Provide your admission letter to confirm if your university is on the approved list.

Application Process for ICICI Bank Education Loan Abroad

To apply for an ICICI Bank education loan abroad, you must follow the below-mentioned steps.

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  Start by checking your loan eligibility and whether your university falls under their approved list or not.
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  Prepare important documents, including an admission letter from a foreign university, academic records, valid ID and address proof, income proof of co-applicant (Salary slips, ITR, Form 16), and collateral documents if you are applying for a secured education loan. 
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  Visit the nearest branch of ICICI Bank, fill out the form, and follow the procedure requested by the bank.
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  Or you can apply online by visiting the online website of ICICI Bank.
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  You can also apply via “Vidya Lakshmi Portal” which is designed for students to explore and compare the various loan options that align with their financial needs.
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  The bank will assess your loan application, and if approved, they will issue the sanction letter detailing the loan amount, interest rate, and repayment terms.
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  Sign the loan agreement, and the loan disbursement will take place as per the terms of the loan agreement. 

ICICI Bank education loan for abroad university list includes a wide range of foreign universities. The bank provides tailored loan options based on the ranking of the university and college. However, document submission and loan application can be challenging for you. You can apply via GyanDhan, we simplify the process for you, and get the best deal. We provide you with doorstep pick-up of your documents for a smooth and hassle-free application process. We negotiate for you the interest rates and loan amounts so that you can concentrate on your studies solely. Check your loan eligibility today to move one step closer to your dream.

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