Education and Career Forum

Hello Everyone,
Can anyone of you kindly tell me what is the tenure of loan amount repayment if I take an Education Loan from Canara Bank? I want to apply an Education Loan from this Bank for my B.Tech course. So, kindly tell me the tenure of amount repayment. Thank you!

The details regarding repayment tenure of Education loan in Canara Bank is mentioned below :-

--> Loan upto Rs.7.5 Lakhs :- 10 years

--> Loan above Rs.7.5 Lakhs :- 15 years

Canara Bank offers an Education loan under the name IBA Model Education Loan scheme for candidates who wish to pursue higher studies in India or Abroad.

The Repayment tenure for Canara Bank Education loan varies based on the amount of education loan you have taken. The repayment tenure for different amounts of Education loan is as follows :-

=> Upto Rs.7 .5 Lacs :- 10 years

=> Above Rs. 7.5 Lacs :- 15 years

The repayment tenure depends on you. You can opt for the repayment tenure as per your convenience. You can repay as lump sum amount as well as repay the loan in the form of EMIs. The maximum repayment tenure is seven years. So you can choose at max, seven years to repay the education loan. You can opt for a repayment tenure which is less than 7 years too.

Can change my education loan tenure in canara bank.