Details of educational loan at Canara Bank

Educational Loans :

Rate of Interest

1. Rs. 4.00 lakhs - 11.00% (BPLR – 1.00%)

2. Above Rs. 4.00 lakhs upto Rs. 7.50 lakhs - 12.00% (BPLR)

3. Above Rs. 7.50 lakhs upto Rs. 20.00 lakhs - 9.75% ( BPLR – 2.25%)

4. Above Rs. 15.00 lakhs upto Rs. 20.00 lakhs - 9.75% (BPLR – 2.25%)

In first 3 cases :

For studies at IIMs/IITs/ISB/XLRI/ISM & Other Premier Institutes / Business schools approved by the Bank for studies in India – irrespective of the loan quantum upto Rs. 10.00 lakhs.

In 4th case :

9.25% (BPLR - 2.75%)

Processing Charges :

For Studies in India : NIL

For studies abroad :

1% of the loan amount In case the sanctioned loan is availed by the borrower, the processing charges is recredited to the education loan account

BPLR – Bench Mark Prime Lending Rate of the bank – presently it is 12.00 w.e.f 01.04.2009.

Note :

1.00% concession on the applicable rate is extended to girl students for education loans sanctioned from 1.12.2005 upto 30.06.2010

0.50% concession in Rate of Interest is extended on the applicable rate for prompt servicing of interest during study period / repayment holiday.

To apply for a loan, contact at their Toll Free No. 1800 425 0018

Post Comment:

Notify me by email when others post comments to this article.

Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.

No HTML formatting and links to other web sites are allowed.

This is a strictly moderated site. Absolutely no spam allowed.

Name:	Sign In to fill automatically.
Email:	(Will not be published, but required to validate comment)
	Type the numbers and letters shown on the left.