Education and Career Forum

Hello, I want to study BTech and for this I need to apply an education loan. My friend has an account in Canara Bank but I don’t. However we both want to apply an education loan in this bank. So, for me, Canara Bank will provide an education loan? Or is it necessary to have an account in this Bank for applying an education loan?

No it's not necessary to have an account, if you have , well and good and if you don't , then also no worries.
In order to apply for education loan , you can either apply online or visit nearby branch of the bank.
You can also download the application form from the official website.

After filling the form with requisite documents , submit the form.

You can get a loan without a bank account. But beware of limited and expensive options. Having a bank account — specifically a checking account, in many cases — is a common requirement when you apply for a personal loan. If you don't have a bank account, or think you can't get one, you may still have some loan options.

°°° Canara bank offers education loan to individuals in a bid to help them to pursue higher studies in the country and abroad. The loans are offered at affordable interest rates and can be repaid within 15 years of availing it. The bank extends a Concession of 0.50% in the interest rates to girls students.

°°° Canara Bank Educational loan schemes

Must be an Indian resident.

Can be availed for both inland and abroad education.

Girls students are offered Concession of 0.50%.

Loan is granted jointly with the parent.

Equal monthly installment up to 15 years for repayment.

No Collateral security is required.