Canara Bank Education Loan Interest Rate
| INTEREST RATE | 8.60% to 11.35% |
| LOAN TENURE | In 10 to 15 years after the Holiday | Moratorium Period |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | As decided by the bank from time to time |
About Canara Bank
Canara Bank is a public sector bank in india with total assets 8936 crore. It has headquarter in Bengaluru. Canara Bank was founded on July 1, 1906. It has 5682 branches and total assets 89368533 ATMs across India.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Canara Bank which includes Canara Bank Official Website, Canara Bank ATMs accross the India, Canara Bank Branches accross the India, Canara Bank Contact Numbers, Canara Bank official EmailID, Canara Bank Headquarter and Canara Bank Headquarter Address. Find Canara Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
Other Products of Canara Bank:
| Home Loan | Personal Loan |
| Education Loan | Business Loan |
| Car Loan | Two Wheeler Loan |
| Gold Loan | FD Interest Rates |
| Canara Bank RD Interest Rates | Canara Bank ATMs Location |
| PPF Account |
Canara Bank Education Loan Purpose
Canara Bank Eligible Courses for Education Loan
For studies in India: Graduation, post graduation, including technical/professional courses with employment potentials conducted by colleges/universities approved by UGC/Government, AICTE/Department of Electronics/IMC, autonomous institutions like IIM, IIT, etc.For studies abroad: Job oriented technical/professional courses-(graduation/post graduation)
Canara Bank Education Loan Document Required
For salaried individuals
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Latest salary slip showing all deductions or Form 16 along with recent salary certificate
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
For all individuals except salaried
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
Canara Bank Education Loan Amount
a) For studies in India, maximum Rs. 10 Lakhs.b) For studies abroad, maximum Rs. 20 Lakhs
Margin
a) Up to Rs.4 lakhs-Nil.b) Above Rs. 4 lakhs- Studies in India 5% Studies Abroad 15%
Canara Bank Education Loan Repayment
Repayment Holiday| Moratorium: Course Period + 1 year or 6 months after getting job, whichever is earlier.Security
Upto Rs.4.00 Lakhs - No SecurityAbove Rs.4.00 Lakhs upto Rs.7.50 Lakhs - Satisfactory third party guarantee
Above Rs.7.50 Lakhs: Collateral security equal to 100% of the loan amount.
Mode of Repayment of Education Loan
Post Dated Cheque (PDC): PDCs are given by the borrower in advance to the bank. They will be for future dates. Bank will deposit the cheque on the date mentioned on the cheque. This mode used to be opted by the borrowers when there were no online repayment options available. This mode is no longer popular and is used by very few borrowers.
Electronic Clearance System (ECS): This mode is very popular and most of the borrowers opted for this mode of repaying the loan. It is an electronic mode for transferring the EMI from borrower's bank to lender's bank.
National Automated Clearing House (NACH): NACH is a facility offered by National Payment Corporation of India (NPCI) for online transfer of funds on due date. This system has come into force recently and is preferred by many people. The benefit of this mode is that it allows transactions to be processed in real time.
Standing Instruction (SI): It is an order or instruction which the account holder gives to his/ her bank to pay a fixed amount to another bank/ account at a regular interval. It is also used by many borrowers to pay EMIs as EMI is a fixed amount. SI is not suitable for variable amounts.
Contact details of Canara Bank, Canara Bank SMS balance check number SMS banking, Canara Bank mobile banking, Canara Bank toll free number,Canara Bank toll free number 24*7, Canara Bank miss call number.
- MISSED CALL NUMBERS - 09015734734, 09015613613
- CUSTOMER CARE NUMBERS - 18004250018, 18001030018, 18002083333, 180030113333
- CONTACT NUMBERS - 080- 22221581/ 582/ 0490/ 0491/1788/ 1789/ 1790/ 1984/ 1985/ 1986
Canara Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.canarabank.com
- CONTACT NUMBERS - 080- 22221581/ 582/ 0490/ 0491/1788/ 1789/ 1790/ 1984/ 1985/ 1986
- EMAIL ID - [email protected]
- MISSED CALL NO. - 09015734734, 09015613613
- CUSTOMER CARE NO. - 18004250018, 18001030018, 18002083333, 180030113333
- TOTAL BRANCHES - 5682
- TOTAL ATMS - 8533
- HEADQUARTER - Bengaluru
- BANK ADDRESS - Baroda Bhavan 7th Floor,R.C. Dutt Road, Vadodara-390 007, (Gujarat) India.
Canara Bank Education Loan FAQs Education Loan Document Required
