Canara Bank IBA Model Education Loan
Wednesday, January 16, 2019
Education & Career
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Canara Bank IBA Model Education Loan Scheme

  
  
  
  
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Canara Bank Offers IBA Model Education Loan scheme for pursuing higher studies in India and abroad.

Eligibility : 

Courses

a) Studies in India

b) Studies abroad:

Loan Details

Coverage of expenses 

Quantum 
Need based finance

Margin :

Security :
Loan is given jointly to the student and parent /guardian
Assignment of future income of the student 

(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).

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 as follows :
- Upto Rs.7.5 Lakhs - 10 years
- Above Rs.7.5 Lakhs - 15 years

Contact Details
Head Office - Canara Bank
P.O. Box No. 6648, 112, Jayacharamarajendra Road, Bangalore-560002
Phone : 080 - 2222 1581
Fax : 080 - 2222 2704
E-mail : Contact Now
Website : visit

 

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.



 Tags
   Canara Bank Education Loans , Study Abroad Loan







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