Canara Bank

Canara Bank

Overview

CANEDU Loan is a Canara Bank Loan for Meritorious Students who wants to continue education in India or Abroad. The loan covers

Loan Feature

Loan Amount Upto Rs. 10.00 lakhs for Studies in India: Upto Rs.20 lakhs for Studies Abroad
Interest Rate 10.25%-12.5%
Tenure Information Not Available
Pre Payment Charges 2% on the outstanding liability in case of take over of the loan by other bank / FI
Service Charges

 

Proscessing 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

 

Eligibility Criteria : Education Loan

  Salaried Self
Age Co-Applicants and Students Age will be considered Co-Applicants and Students Age will be considered
Income Co-Applicant Income will be considered Co-Applicant Income will be considered
Job Experience Co-Applicants Job Experience will be considered Co-Applicants Job Experience will be considered
Residence Proof Minimum Duration of Stay Not Available Minimum Duration of Stay Not Available

Docs Required : Education Loan

  Salaried Self
ID Proof Co-Applicants :Passport Copy/ Voters ID card/ Driving Licence/copy of PAN Card Co-Applicants :Passport Copy/ Voters ID card/ Driving Licence/Copy of PAN Card
Address Proof Co-Applicants :Ration card Telephone or electricity Bill/ Rental agreement/ Passport copy Co-Applicants :Ration card Telephone or electricity Bill/ Rental agreement / Passport copy/Trade licence /Establishment or Sales Tax certificate
DOB Proof Co-Applicant's and Student's:Birth Certificate or 10th Class Passing Certificate Co-Applicant's & Student's :Birth Certificate or 10th Class Passing Certificate
Financial Docs

Co-Applicant Salaried Individual:

  • Latest 3 months Bank Statement (where salary/income is credited)
  • Employmet details:3 Latest salary slips
  • Proof of Continuity current job (Form 16 / Company appointment letter )
  • Proof of Qualification Highest Degree (for Professionals / Govt employees)
  • Mark sheet of last qualifying examination for school and graduate studies in India
  • Proof of admission to the course
  • Schedule of expenses for the course.

( If purchase of computer is involved, Certificate from the Institution with recommendations to be enclosed).

  • Two copies of passport size photographs from borrower / Co-obligant / guarantor

 

 


Co-Applicant Self Employed Indivuduals & Professionals:

  • Bank Statements(latest 6 months bank statement /passbook)
  • Qualification proof of the highest professional degree
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
  • Proof of income/copy of the land records.
  • Mark sheet of last qualifying examination for school and graduate studies in India
  • Proof of admission to the course
  • Schedule of expenses for the course.

( If purchase of computer is involved, Certificate from the Institution with recommendations to be enclosed).

  • Two copies of passport size photographs from borrower / Co-obligant / guarantor

 

Other Charges : Education Loan

N/A

Products offered by Canara Bank

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