Canara Bank Education Loan is an effective means of providing financial assistance to all meritorious students who would like to pursue their dreams of higher studies in India or abroad. The much needed financial assistance for most of the recognized courses is provided by Canara Bank Education Loan and can help you in making your dreams a reality. The loan is an effective means of securing a better future and successful life ahead.

Canara Bank Education Loan Interest Rate:

The Canara Bank Education Loan interest rate is competitive and attractive and can be availed for study in India and abroad.

Canara Bank Education Loan rate is Base Rate+4% which is approximately 14%. Most students looking for Bank finance for higher education find Canara Bank Education Loan interest rate very competitive and attractive. Girl students get 1% discount on interest rate.

Interest rate upto Rs. 4,00,000 is 11.75%

Interest rate for more than Rs. 4,00,000 is Rs. 12.75%

Canara Bank Education Loan Eligibility And Expenses Covered:

Canara Bank Education Loan can be availed by any resident Indian. The loan can be availed for any graduation and post graduation courses. All Recognized Courses like:

• ·ICWA
• ·CA, CFA
• ·IIM
• ·IIT, IISc, XLRI, DOEACC

Loan is also offered for courses by UGC held programs that qualify for Canara Bank Education Loan eligibility.

The loan applicant has to pay margin money ranging from 5-15 % of the total loan amount applied for courses in India & Abroad.

Other Qualifications For Canara Bank Education Loan Eligibility Are:

1For Canara Bank Education Loan eligibility the candidate should be a Resident Indian.

2Admission to technical courses in India is possible by paying Canara Bank Education Loan interest rate

3A co-applicant is required for full time courses.

4The maximum loan for studies in India is at the maximum is Rs.7.5 lacs

5The maximum loan for studies abroad is at the maximum is Rs. 15 lacs.

The Expenses Covered Under The Canara Bank Education Loan Rate Are:

1. College Fee

2Hostel and Library charges

3Caution deposit

4Money to go abroad

5Money for Study tours, Project work, Computer etc.

Canara Bank Education Loan Review And Documentation:

According to the Canara Bank Education Loan review the student would need to provide the following documents for the processing of the loan apart from Proof of Age, Signature, Identity and Residence:

1Fully completed loan application form along with Institutes Admission letter with Fee Break up.

2Two Photographs

Canara Bank Education Loan review and documentation for the salaried co- borrower

1Bank Statement for last 6 months.

2Income Tax Statement for the last two years

3A brief about the asset and liabilities possessed by the borrower

4Latest 2 Salary slips

Canara Bank Education Loan review and documentation for the self employed individual

1Bank Statement

2Income Tax Return

3Profit and Loss Account or Balance Sheet of the Company

4Proof of Qualification.

Canara Bank Education Loan Review And Application Procedure:

Canara Bank Education Loan application forms are available at all bank branches across India. The filled up forms can be then submitted along with the loan application at the branch and the loan will be disbursed in installments to the college or institute directly.

Canara Bank Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back in maximum 5 to 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. The pre closure charges are 2% for amount above 2 lacs. Check at your nearest branch for late fee charges.

Canara Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on Canara Bank Education Loan eligibility and Canara Bank Education Loan Rate etc. are on the official site at:

http://www.canarabank.com/English/Home.aspx