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Canara Bank Education Loan

Education Loan

Canara Bank provides education loan for courses in India, US, France and Australia You will get max loan amount with the attractive interest rate.This Canara Bank student loan scheme provides need-based finance. The amount of education loan depends on the college and type of course.Canara bank provides the amount Rs 10 lakh for students in India and Rs 20 lakh amount for studies in abroad.

Education Loan Features

  • Loan amount: the minimum amount of Rs.7.5 lakhs for Indian study and Rs.15 lakhs for abroad study.
  • Loan tenure:  10 years maximum.
  • Processing Fees: 1% of the loan amount or Rs.10000, whichever is higher.
  • Interest Rate: 9.70% to 10.40% p.a


Eligibility for Canara Bank Education Loan:

For Studies in India

  • Applicants age between 16 to 35 years.
  • The applicant should have obtained entree in recognized university/institute.
  • Eligible courses for studies in India is like graduation, engineering, management, hotel management, medicine, agriculture, MCA/MCM etc.

For studies in Abroad

  • The candidate must be a citizen of India
  • The candidate must have obtained admission in a reputed university/ institute abroad
  • Eligible courses study abroad conducted by CIMA-London and CPA in the USA. And also some post graduation courses namely MBA, MCA, MS etc.


Required documentation for Canara Bank Education Loan:

  • Age proof: Birth certificate.
  • Resident proof: Gas bill/ latest electricity bill/ recent mobile recharge bill.
  • Income proof: existing house legal documents.
  • Institute admission letter with fee break-up.
  • Proof of qualification: last 2 years marks card copy.
  • University fee demand letter.

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