Get Instant Student Loan Without Collateral

An Instant Education Loan offers an instant sanction letter online, providing quick financial assistance for your education journey.

This loan provides an instant sanction letter, which can be used for visa applications, admission confirmations, Form I-20 and quick disbursement.

ICICI Bank customers who have an offer for this Loan and are applying for higher studies at universities in India or abroad can avail this loan.

You can start as late as after your course is over. Moreover, we provide flexibility in repayment during your course period as well.

Repayment tenure is up to 15 years (including the course period), depending on the Loan amount and terms.

Parents, siblings, spouse, father-in-law, mother-in-law, daughter-in-law, maternal and paternal uncle / aunt and grandparents are eligible to be your co-applicant.

Collateral is required only for secured loans. Fixed Deposits, residential or commercial property or an existing Home Loan / Mortgage Loan with ICICI Bank are accepted as collateral.

A collateral-free Education Loan is an unsecured loan, i.e., a loan you can avail without pledging any assets with the bank. You can easily apply for this loan with ICICI Bank using the iMobile app or Internet Banking and get funds within minutes.

Yes, you can get a collateral-free Education Loan in India from ICICI Bank to study abroad. The loan amount can be up to ₹ 1 crore to cover admission and all other important expenses.  

You can apply for a collateral-free Education Loan for studies abroad through our website, by visiting any ICICI Bank Branch or through the PM-VidyaLaxmi portal.

Interest rates vary based on factors such as the applicant’s and co-applicant’s profiles, the institute’s category and the type of course.

Yes, it is possible to get an Education Loan for studies abroad without collateral and without a co-applicant, provided you meet the eligibility criteria.

You can apply for a non collateral education loan for abroad through our website, by visiting any ICICI Bank branch, or via the PM-VidyaLaxmi portal.

Yes, ICICI Bank offers collateral free Education Loans up to ₹1 crore, depending on the course, institution and eligibility. This ₹50 lakh Education Loan without collateral can be easily used to cover a lot of important expenses like tuition fees, travel costs, stationary, hostel, etc. 

Yes, you can pre-pay or foreclose your loan any time during the tenure. There are no pre-payment or foreclosure charges.

While an unsecured loan doesn't require collateral, the interest rate might be higher. It's crucial to have a solid repayment strategy in place.

Banks assess factors like academic performance, university ranking, course type, future income potential and credit history of the applicant or co-applicant.

Students who have secured admission in NAAC (National Assessment and Accreditation Council) accredited universities / institutions, NBA (National Board of Accreditation) recognised professional courses, Centrally Funded Technical Institutes or all other recognised international universities / institutions can apply for an Instant Education Loan.

An EMI Calculator helps estimate loan repayments and effectively plan finances.