Education and Career Forum

Hi everyone, I was searching for an education loan scheme for studying BBA(H) course. After searching I thought that applying an education loan from Canara Bank is fine for me as I have an account in this bank. But I am unable to understand the prepayment fine. Can I know about this particular term?

Prepayment fine under Education Loan scheme of Canara Bank for BBA(H) aspirant is nil.
To apply for Education Loan scheme of Canara Bank, you should be an Indian national and have a secured admission to BBA(H) in recognized institutions through entrance test/merit based selection process after completion of HSC/10+2.

Moratorium period is 12 months after course period or 6 months after getting a job, which is earlier.

No prepayment fine will be imposed under education loan scheme of Canara Bank for pursuing BBA (H) course. You can prepay the education loan in advance without any charges.

The repayment tenure under Canara Bank Education Loan Scheme is 10 years for loans Upto Rs. 7.5 lakhs and 15 years for loans above Rs. 7.5 lakhs.