| Studies in India |
Eligibility for Education Loan |
- Must be an Indian National.
- Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
|
| Eligible Courses for Education Loan |
- Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc.
|
| Expenses considered for Education Loan |
- Fee payable to college/school/hostel
- Payment of course fees
- Purchase of books/equipments/instruments/uniforms
- Examination/Library/Laboratory fee
- Any other expense required to complete the course - like study tours, project work, thesis, etc.
|
| Quantum of Finance |
| Need based finance upto Rs. 10.00 lacs. |
| Margin |
- Upto Rs.4,00,000/- -- NIL
- Above Rs.4,00,000/- -- 5%
|
| Security |
- Upto Rs.4.00 lacs – NIL
- Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Satisfactory third party guarantee.
- Above Rs. 7.5 lacs : Collateral security equal to 100% of the loan amount.
|
| Repayment |
Commences two years after completion of the course or six months after getting employment, whichever is earlier.
Loan with interest is repayable in equated monthly instalments within 5 to 7 years.
Credit Delivery
Loan can be availed from the branch nearest to the place of permanent residence of the parent / guardian.
|
Studies in Abroad |
Eligibility |
- Must be an Indian National.
- Must provide a valid passport and visa
|
| Eligible Courses for Education Loan |
- Graduate/ Post Graduate studies in Arts/Science/Commerce/Business Administration/Pharmacy and job oriented Professional and Technical courses offered by reputed universities.
|
| Quantum of Finance |
| Need based up to a maximum of Rs. 20.00 lacs |
| Margin |
- Upto Rs.4,00,000/- -- NIL
- Above Rs.4,00,000/- -- 15%
|
| For more details visit Canara Bank official website: canarabank.in |