Education and Career Forum

Sir, I have got admission in B.Tech course at IPU, Delhi and willing to apply for education loan at Canara Bank. Please tell me how to apply for it? Documents and collateral required for it?

Just contact the nearest bank branch for education loan application and apply on it with the supporting documents. You need to furnish all your details along with admission proof.

Collateral will be required only for big loans. For small loans, you need to have a guarantor to support your education loan.

Originally Posted by Unregistered

Sir, I have got admission in B.Tech course at IPU, Delhi and willing to apply for education loan at Canara Bank. Please tell me how to apply for it? Documents and collateral required for it?

Candidates can contact the Canara Bank branch nearest to their permanent address or can apply online for education loans. Education loan in Canara Bank is offered for the students to cover the expenses like course fee, purchase of books, equipment, instruments, hostel fee and study tools. On Canara Bank education loans are offered for the students who have joined Graduation or Post Graduation (technical/professional) courses with employment potentials by the colleges approved by UGC/AICTE, Government etc. Margin money is not required for up to Rs 4 Lakhs of education loan from Canara Bank. Over Rs 4 Lakhs margin money required is 5% for studies in India. Candidates have to provide a satisfactory third party guarantee for education loan of over Rs 4 Lakhs. For an education loan of above Rs 7.5 Lakhs Collateral security equal to 100% of the loan amount is required. Following documents are required for getting an education loan from Canara Bank: Proof of admission, Fee schedule, Mark sheets, two recent passport size photographs of the borrower, co-applicant and guarantor, ID proof, Address proof, Income proof etc. Canara Bank website link is Click Here