Purpose

 
 

Payment of course fees, purchase of books, equipments, instruments, uniform, payment of hostel fees, examination fees, study tools, passage expenses, (for study abroad)

Rate of Interest

 
 
  • 1.If the loan you have taken is less than INR 4 lakhs, no interest will be levied.
  • 2. For loan sum more than that, 5 percent interest will be levied if you are studying in India and 15 percent if you are going abroad.
 
 

Eligibility for Educational Loan

 
 

The student must be an Indian National & must have passed the required course with essential grades.

The applicant must have received admission in a course in any recognized institute, approved by the State or Central Government.

 
 

About the Bank

 
 

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country. The government nationalized the bank in 1969. As of November 2015, the bank had a network of 5784 branches and more than 9153 ATMs spread across India. The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, Dubai, and New York.

 
 

FAQ Loan

 
 

1.What is CSIS?

The Central Government has established a new Central Scheme to deliver interest subsidy during the period between course completion and landing a job on educational loans for borrowers belonging to financially weaker sections (with parents earning less than INR. 4.5 lakh per year).

2.What is the last date for filing incomplete claims for the year?

It is normally sdone by the end of June.

 
 
 
 
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