Education and Career Forum

Hello sir, I have just completed Diploma in Hotel Management course and now want to study a degree course. Please tell me procedure to apply for an education loan at Canara Bank? Rate of interest of this month?

Just visit the nearest bank branch and get the application form for education loan from the bank manager. You can also talk with the manager and he/she will help you out.

You need to have admission documents which shows that you have confirmed admission in a recognized college. A guarantor will be required to support your loan. Rate of interest for education loan at most PSUs vary from 11% to 13%.

It is nice to see you aspire for higher studies. You can definitely get education loan from Canara Bank to pursue the degree course. In order to apply for education loan, you need to approach the nearby branch of Canara Bank once you get admission call from a recognized institute. You need to take the prospectus of the concerned institute and the admission call letter and contact the branch manager. Get to know your eligibility of education loan and the detailed terms and conditions. Comply with the terms and conditions and complete all formalities to get your education loan sanctioned.
The rate of interest fluctuates from time to time as per orders from Reserve Bank of India. Usually the rate of interest fluctuates in the range of 12.5 - 14 percentage. The interest is computed as simple interest for the entire study period.