Student Education loans in India

Here know the complete information about Student Education Loans offered by Canara Bank India.

Canara Bank

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.
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 5%
  • 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.
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

  • 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
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 15%
For more details visit Canara Bank official website:

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