There are several banks which offer education loans in India, Canara bank is one among them. Canara bank offers education loans for students who want to pursue higher education in India and abroad.
Students who are studying Undergraduate courses, Postgraduate courses and various other courses conducted by CPA in USA and CIMA in London are eligible for the educational loans from Canara bank.
The students applying for the canara bank education loan should be Indian nationals and need to secure admission through entrance test or a selection procedure in renowned institutions and universities.
The maximum amount of education loan granted by canara bank for study in India is Rs. 7.5 lacs. Students willing to study abroad can get education loan up to Rs.15 lacs from canara bank.
There is no margin for canara bank education loans up to Rs.4 lacs. For education loans above Rs.4 lacs, 5% and 15% are the margins stated for India and abroad respectively.
The time given for repayment of canara bank education loans is five to seven years. The repayment commences either six months after one gets employed or one year after the completion of the course whichever seems to be earlier.
Note - This is a Guest post written by the admin of Loansbuzz.com
Monday, February 15, 2010
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