Education and Career Forum

Hello Sir, I am interested to study MBA course in Abroad. I want to apply for an education loan for this course. I have an account in Canara Bank. So, I want to know that what interest rates charges are there for this MBA course in Abroad if I apply an education loan from Canara Bank?

Interest rates against an Education Loan in Canara Bank are floating and vary with the changes in MCLR. Current interest rates are as follows;

Loan between Rs. 4 - Rs. 7.5 lacs: MCLR (1 Year) + 2.00% = 10.70%

Loan Rs. 7.5 lacs: MCLR (1 year) + 1.80% = 10.50%

0.5% concession on interest rate is given to girl students.

Interest Rates for Canara Bank Education Loan for Studies Abroad

- For education loan up to 7.5 lakhs: 10.65%

- For education loan above 7.5 lakhs: 10 45%

The interest rates change according to RBI policy which is reviewed from time to time. The rate mentioned above is the latest.