Education and Career Forum

My father want to apply for an education loan for me so that I can get admission and study MBBS course. He is telling me to apply an education loan from Canara Bank. But I am not interested to apply an education loan in this Bank. So, before applying an education loan in this bank I want to know about the benefits of applying an education loan in this bank?

Benefits of applying for an Education Loan in Canara Bank for MBBS aspirant;

Low interest rate,
Less paperwork
No processing charges,
Faster Disbursal,
Hassle free documentation,
No prepayment charges
No pre-closure charges,
0.5% concession on interest rates for female candidates,
Maximum loan repayment tenure is 15 years,
Maximum loan is upto Rs. 20 lacs.,
Tax benefits.

There will not be any benefits in Canara Bank for MBBS aspirant. You can apply for an education loan in Canara Bank once, you secure admission to MBBS course in a recognised college/ university. The rate of interest may vary little more or less when compared with other banks and remaining will be same in all the banks. The maximum amount offered under Canara Bank Education Loan Scheme is Rs. 10 lakhs for studies in India.