Canara Bank -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.

For studies in India : Max. Rs.10.00 lacs

For studies abroad : Max. Rs.20.00 lacs

Above Rs.4.00 lacs – for studies in India – 5%

studies abroad : 15%

Assignment of future income of the student

Upto Rs.4.00 lacs- No security

Above Rs.4.00 lacs upto Rs. 7.50 lacs –Satisfactory third party guarantee

(Note: If the proposed borrower prefers to offer collateral security of tangible assets (moveable or immoveable) instead of bringing collateral securities in the form of third party guarantee,
the same may be accepted, at his request, provided the securities with stipulated margin covers 100% of the loan amount).

Above Rs. 7.50 lakhs: Collateral security equal to 100% of the loan amount.

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.