Canara Bank Students Personal Loan

Canara Bank offers student loans to support educational expenses. The Canara Bank education personal loan covers tuition fees, accommodation charges, and other related costs for various courses in recognised institutions.

The loan amount can go up to Rs.10 lakh for studies in India and Rs.20 lakhs for overseas education. Repayment starts after the completion of the course, with flexible terms. Interest rates are competitive, and there’s a provision for a moratorium period.

The loan aims to assist students in pursuing higher education by providing financial aid to ease the burden of educational expenses. For loan approval, the applicants need to meet the eligibility criteria.  

Canara Bank Personal Loan for Students – Highlights 

Take a look at the highlights of Canara Bank’s student instant loan.

Compare Student Personal Loans from other Banks 

Here is a comparison between Canara Bank’s student personal loans and other banks.

Canara Bank Personal Loan for Students – Fees and Charges

Following are the fees & charges required for a Canara Bank personal loan for students. 

• Processing Fee: Vary from 1% to 3.50% of the loan amount plus GST.
• Goods and Services Tax (GST): A standard 18% GST applies to all loan-related services.
• Penal Interest: A 2% penalty is charged on the outstanding loan amount.
• Other Charges: Additional fees such as stamp duty, verification charges, and similar fees may be applicable.

Canara Bank Personal Loan for Students- Documents Required

Canara Bank’s student personal loan document requirements are as follows: 

• Duly filled application form
• 2 passport-size photographs
• Co-obligation wherever required
• Proof of admission to the course
• PAN card

Canara Bank Personal Loan for Students – Eligibility Criteria 

Canara Bank student personal loan eligibility criteria are as under:

• Age Eligibility: Individuals aged between 21 and 60 years
• Credit Score: The minimum credit score should be 650
• The student should be an Indian National