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Canara Bank

Eligibility

Courses

a) Studies in India

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.

b) Studies abroad:

Job oriented, technical / professional courses- (graduation / post graduation

Loan Details

Coverage of expenses

Payment of course fees

Purchase of books, equipments, instruments, uniform

Payment of hostel fees, examination fees, study tours

Passage expenses (for studies abroad)

Quantum

Need based finance
For studies in India : Max. Rs.7.50 lacs
For studies abroad : Max Rs.15.00 lacs

Margin:

Upto to Rs.4.00 lacs - Nil

Above Rs.4.00 lacs

for studies in India : 5%
studies abroad : 15%

Security :

Loan is given jointly to the student and parent /guardian
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

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

Rate of Interest

As per bank rules

Repayment

Commences one year after completion of the course or six months after getting employment, whichever is earlier.
Loan with interest is repayable in equated monthly installments within 5 to 7 years.

Contact

Head Office - Canara Bank
P.O. Box No. 6648, 112, Jayacharamarajendra Road, Bangalore-560002
Phone : 080 - 2222 1581
Fax : 080 - 2222 2704
Website :http://www.canbankindia.com/