icici ismart

Study Loan Highlights


Interest Rates & Fees

Loan Limit For India: INR 10 Lakhs For International Students: INR 20 Lakhs
Margin For loans above INR 4 Lakhs For India: 5% For International Students: 15%
Processing Fees Up to INR 4 Lakhs: Nil Above INR 4 Lakhs: INR 5000
Loan Security Up to 7.50 Lakhs: Only parents/guardians act as co-borrowers. No Collateral Security or third-party guarantee Above INR 7.50 Lakhs: Tangible security and parents acts as co-borrower
Loan Repayment Starts after one year of course completion or 6 months after employment.

Loan Terms & Conditions

Target Group
  • Students pursuing Executive Development Programmes (part-time/online programmes/distance learning) being offered by premier institutions abroad, as listed under List of Premier Institutions. (Including the programmes offered using the technology platform of Times Pro, Hughes Global Education, or any other partners)
Quantum of Finance
  • Maximum Rs. 80.00 Lakhs
  • Up to RS. 4.00 Lakhs: NIL
  • Above RS. 4.00 Lakhs: 5%
Repayment Holiday/Moratorium Period
  • Course period + 3 months
Coverage of Expenses
  • Fee payable to college/institution/university/hostel/mess charges
  • Examination, library, and laboratory fees
  • Purchase of books, equipment, instruments, and uniforms
  • Personal computer and laptops, if required
  • Caution deposit, building fund, refundable deposit supported by institution bills, receipts (subject to condition that the amount does not exceed 10% of the total tuition fees for the entire course.)
  • Insurance premium for student borrowers.
  • Any other expenses required to complete the course – like study tours, project works, thesis, etc.
  • Travel expenses and passage money (to and fro)
  • Cost of external coaching (Note: Tuition is NOT to be considered.)
  • As part of the Program candidates may be required to travel to the college/institution once or twice during the course period. In such cases, travel expenses (to and fro) and living expenses for attending classes in various centers (India and abroad) would also be considered a part of the total expenses.
Repayment Period
  • The loan is repayable in maximum 10 – 15 years after the completion of moratorium period as mentioned above
  • For loans up to RS. 7.50 Lakhs: Moratorium Period +Maximum -120- installments
  • For loans above RS. 7.50 Lakhs: Moratorium Period +Maximum -180- installments
Unified Processing Charges
  • 1.00% of Loan amount (maximum ₹ 10,000/-) to be recovered upfront which will be refundable on availment (first disbursement) of loan. The amount can be refunded to the credit of the savings bank account or loan account of the student or borrower.
  • A non refundable lump sum amount Rs.7,500/- per property (towards Advocate and Valuer charges) to be taken upfront in case of all education loan accounts, wherever property is mortgaged.
  • Up to RS. 4.00 Lakhs: Co-obligation of parents. No Security.
  • Above RS. 4.00 Lakhs and up to RS. 7.50 Lakhs
  • Collateral in the form of a suitable third party guarantee along with assignment of future income.
  • The regional authority may, at its discretion, waive third party guarantee in following cases:
    • if satisfied with the net-worth / means of parent who would be executing the document as “Joint borrower”.
    • to support highly meritorious / deserving students who have secured admission in an institution of a high repute, but unable to offer suitable third party guarantee
    • Above RS. 7.50 Lakhs
    • Tangible collateral security equal to 100% of the loan amount along with assignment of future income of the student for payment of instalments.
  • Directly to school, institution, or hostel — term wise / year wise, in stages as per the requirement or demand.
  • Directly to the bookseller, shop for purchase of books, instruments, or equipment.
  • In case a student does not secure a hostel facility with an educational institute, he may be allowed to make his own arrangement if required. Lodging/ boarding charges in such cases to be paid directly to concerned establishment, after verifying bonafides of the same.
Financing Branch
  • Branch which is in close proximity to the permanent residence of parent/at the place of posting/service of the parent Branch
Check Eligibility
To check your eligibility for an education loan, click here.